Guy Vermant & Co: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
Guy Vermant & Co
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €640,905+€497,956
Equity
€10.1m
2024 · €8.9m+€1.1m
Cash
€1.7m
2024 · €1.6m+€102,231
Balance sheet total
€20.5m
2024 · €14.3m+€6.1m
Largest movements
Assets
- Tangible fixed assets +€5.9m
up €5.9m (+103%), from €5.7m to €11.6m
of which Land and buildings: +€5.9m
Equity and liabilities
- Debts after one year +€4.8m
up €4.8m (+107%), from €4.5m to €9.3m
- Reserves +€1.1m
up €1.1m (+22.4%), from €5.1m to €6.2m
of which Distributable reserves: +€1.1m
- Current portion of long-term debt +€233,645
up €233,645 (+34.6%), from €675,309 to €908,954
Income statement
- Financial income +€572,089
up €572,089 (+132%), from €434,081 to €1.0m
- Depreciation +€237,039
up €237,039 (+84.4%), from €280,950 to €517,989
- Other operating income +€234,959
up €234,959 (+23.8%), from €988,407 to €1.2m
- Staff costs +€192,720
up €192,720 (+24.8%), from €777,251 to €969,971
- Turnover +€184,738
up €184,738 (+27.2%), from €678,815 to €863,554
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€640,905
Turnover
+€184,738
Other operating income
+€234,959
Services and other goods
-€32,501
Staff costs
-€192,720
Depreciation
-€237,039
Other operating charges
-€948
Financial income
+€572,089
Financial charges
-€98,431
Taxes
+€67,810
Result 2025
€1.1m
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.5m
Investment
-€6.4m
Financing
+€5.0m
Cash 2024
€1.6m
From operations (derived)
+€1.5m
Net result for the year
+€1.1m
Depreciation
+€517,989
Receivables within one year
-€169,799
Smaller working-capital items
+€11,008
Tax, wage and social debts
-€36,519
Investment (derived)
-€6.4m
Investment in fixed assets (net)
-€6.4m
Financing
+€5.0m
Debts after one year
+€4.8m
Current portion of long-term debt
+€233,645
Cash 2025
€1.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,327,054 | €20,475,952 | +€6.1m | +42.9% |
| Fixed assets | 21/28 | €12,184,643 | €18,050,654 | +€5.9m | +48.1% |
| Tangible fixed assets | 22/27 | €5,699,756 | €11,565,767 | +€5.9m | +103% |
| Land and buildings | 22 | €5,408,689 | €11,281,401 | +€5.9m | +109% |
| Plant, machinery and equipment | 23 | €2,234 | €823 | -€1,412 | -63.2% |
| Furniture and vehicles | 24 | €1,486 | €570 | -€915 | -61.6% |
| Other tangible fixed assets | 26 | €287,348 | €282,974 | -€4,374 | -1.5% |
| Financial fixed assets | 28 | €6,484,887 | €6,484,887 | = | 0.0% |
| Affiliated companies | 280/1 | €6,484,887 | €6,484,887 | = | 0.0% |
| Participating interests | 280 | €6,484,887 | €6,484,887 | = | 0.0% |
| Amounts receivable | 281 | €0 | - | = | |
| Current assets | 29/58 | €2,142,411 | €2,425,298 | +€282,887 | +13.2% |
| Amounts receivable after more than one year | 29 | €450,000 | €450,000 | = | 0.0% |
| Other amounts receivable | 291 | €450,000 | €450,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €126,035 | €295,834 | +€169,799 | +135% |
| Trade receivables | 40 | €124,587 | €247,621 | +€123,034 | +98.8% |
| Other amounts receivable | 41 | €1,448 | €48,213 | +€46,765 | +3,230% |
| Cash at bank and in hand | 54/58 | €1,561,218 | €1,663,449 | +€102,231 | +6.5% |
| Deferred charges and accrued income | 490/1 | €5,158 | €16,015 | +€10,857 | +211% |
| Total equity and liabilities | 10/49 | €14,327,054 | €20,475,952 | +€6.1m | +42.9% |
| Equity | 10/15 | €8,944,098 | €10,082,959 | +€1.1m | +12.7% |
| Contributions | 10/11 | €3,850,000 | €3,850,000 | = | 0.0% |
| Reserves | 13 | €5,094,098 | €6,232,959 | +€1.1m | +22.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €5,094,098 | €6,232,959 | +€1.1m | +22.4% |
| Amounts payable | 17/49 | €5,382,956 | €10,392,993 | +€5.0m | +93.1% |
| Amounts payable after more than one year | 17 | €4,497,381 | €9,288,427 | +€4.8m | +107% |
| Financial debts | 170/4 | €4,497,381 | €9,288,427 | +€4.8m | +107% |
| Credit institutions | 173 | €4,497,381 | €9,288,427 | +€4.8m | +107% |
| Amounts payable within one year | 42/48 | €885,575 | €1,104,566 | +€218,990 | +24.7% |
| Current portion of amounts payable after more than one year | 42 | €675,309 | €908,954 | +€233,645 | +34.6% |
| Trade debts | 44 | €12,853 | €20,931 | +€8,078 | +62.8% |
| Suppliers | 440/4 | €12,853 | €20,931 | +€8,078 | +62.8% |
| Taxes, remuneration and social security | 45 | €161,498 | €124,978 | -€36,519 | -22.6% |
| Taxes | 450/3 | €57,792 | €15,785 | -€42,007 | -72.7% |
| Remuneration and social security | 454/9 | €103,706 | €109,193 | +€5,487 | +5.3% |
| Other amounts payable | 47/48 | €35,916 | €49,703 | +€13,788 | +38.4% |
| Operating income | 70/76A | €1,667,222 | €2,086,919 | +€419,697 | +25.2% |
| Turnover | 70 | €678,815 | €863,554 | +€184,738 | +27.2% |
| Other operating income | 74 | €988,407 | €1,223,365 | +€234,959 | +23.8% |
| Operating charges | 60/66A | €1,283,577 | €1,746,785 | +€463,209 | +36.1% |
| Services and other goods | 61 | €133,419 | €165,920 | +€32,501 | +24.4% |
| Remuneration, social security and pensions | 62 | €777,251 | €969,971 | +€192,720 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,950 | €517,989 | +€237,039 | +84.4% |
| Other operating charges | 640/8 | €91,956 | €92,905 | +€948 | +1.0% |
| Operating profit (loss) | 9901 | €383,646 | €340,134 | -€43,512 | -11.3% |
| Financial income | 75/76B | €434,081 | €1,006,170 | +€572,089 | +132% |
| Recurring financial income | 75 | €434,081 | €1,006,170 | +€572,089 | +132% |
| Income from financial fixed assets | 750 | €434,081 | €999,765 | +€565,684 | +130% |
| Income from current assets | 751 | - | €6,405 | +€6,405 | |
| Financial charges | 65/66B | €73,933 | €172,364 | +€98,431 | +133% |
| Recurring financial charges | 65 | €73,933 | €172,364 | +€98,431 | +133% |
| Debt charges | 650 | €73,899 | €170,267 | +€96,368 | +130% |
| Other financial charges | 652/9 | €34 | €2,096 | +€2,063 | +6,084% |
| Profit (loss) for the period before taxes | 9903 | €743,793 | €1,173,940 | +€430,147 | +57.8% |
| Income taxes | 67/77 | €102,888 | €35,079 | -€67,810 | -65.9% |
| Taxes | 670/3 | €102,888 | €80,000 | -€22,888 | -22.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €44,921 | +€44,921 | |
| Profit (loss) for the period | 9904 | €640,905 | €1,138,861 | +€497,956 | +77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €640,905 | €1,138,861 | +€497,956 | +77.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.