Thomas Vermeiren: what changed
Thomas Vermeiren
Largest movements
- Tangible fixed assets +€54,326
up €54,326 (+738%), from €7,358 to €61,684
of which Plant, machinery and equipment: +€45,871
- Cash +€17,705
up €17,705 (+11,414%), from €155 to €17,860
mainly Debts after one year (+€57,031) and Current portion of long-term debt (+€14,415)
- Receivables within one year +€12,804
up €12,804 (+262%), from €4,884 to €17,689
of which Trade receivables: +€12,126
- Debts after one year +€57,031
new in 2025: €57,031
- Current portion of long-term debt +€14,415
new in 2025: €14,415
- Reserves +€12,339
up €12,339 (+666%), from €1,852 to €14,191
- Trade debts +€3,839
up €3,839 (+389%), from €986 to €4,825
- Other debts -€3,456
down €3,456 (-40.4%), from €8,559 to €5,104
- Gross operating margin +€19,748
up €19,748 (+332%), from €5,943 to €25,692
- Taxes +€3,416
up €3,416 (+772%), from €443 to €3,859
- Depreciation +€3,261
up €3,261 (+93.8%), from €3,476 to €6,737
- Financial income +€1,342
new in 2025: €1,342
- Other operating charges +€858
up €858 (+727%), from €118 to €976
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,397 | €97,232 | +€84,835 | +684% |
| Fixed assets | 21/28 | €7,358 | €61,684 | +€54,326 | +738% |
| Tangible fixed assets | 22/27 | €7,358 | €61,684 | +€54,326 | +738% |
| Plant, machinery and equipment | 23 | - | €45,871 | +€45,871 | |
| Furniture and vehicles | 24 | €7,358 | €15,812 | +€8,454 | +115% |
| Current assets | 29/58 | €5,040 | €35,548 | +€30,509 | +605% |
| Amounts receivable within one year | 40/41 | €4,884 | €17,689 | +€12,804 | +262% |
| Trade receivables | 40 | €1,610 | €13,736 | +€12,126 | +753% |
| Other amounts receivable | 41 | €3,274 | €3,953 | +€679 | +20.7% |
| Cash at bank and in hand | 54/58 | €155 | €17,860 | +€17,705 | +11,414% |
| Total equity and liabilities | 10/49 | €12,397 | €97,232 | +€84,835 | +684% |
| Equity | 10/15 | €2,852 | €15,191 | +€12,339 | +433% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,852 | €14,191 | +€12,339 | +666% |
| Distributable reserves | 133 | €1,852 | €14,191 | +€12,339 | +666% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,545 | €82,041 | +€72,496 | +759% |
| Amounts payable after more than one year | 17 | - | €57,031 | +€57,031 | |
| Financial debts | 170/4 | - | €57,031 | +€57,031 | |
| Amounts payable within one year | 42/48 | €9,545 | €25,010 | +€15,464 | +162% |
| Current portion of amounts payable after more than one year | 42 | - | €14,415 | +€14,415 | |
| Trade debts | 44 | €986 | €4,825 | +€3,839 | +389% |
| Suppliers | 440/4 | €986 | €4,825 | +€3,839 | +389% |
| Taxes, remuneration and social security | 45 | - | €666 | +€666 | |
| Taxes | 450/3 | - | €666 | +€666 | |
| Other amounts payable | 47/48 | €8,559 | €5,104 | -€3,456 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,476 | €6,737 | +€3,261 | +93.8% |
| Other operating charges | 640/8 | €118 | €976 | +€858 | +727% |
| Non-recurring operating charges | 66A | - | €926 | +€926 | |
| Gross operating margin | 9900 | €5,943 | €25,692 | +€19,748 | +332% |
| Operating profit (loss) | 9901 | €2,349 | €17,052 | +€14,703 | +626% |
| Financial income | 75/76B | - | €1,342 | +€1,342 | |
| Recurring financial income | 75 | - | €1,342 | +€1,342 | |
| Financial charges | 65/66B | €55 | €531 | +€476 | +870% |
| Recurring financial charges | 65 | €55 | €531 | +€476 | +870% |
| Profit (loss) for the period before taxes | 9903 | €2,295 | €17,864 | +€15,569 | +678% |
| Income taxes | 67/77 | €443 | €3,859 | +€3,416 | +772% |
| Profit (loss) for the period | 9904 | €1,852 | €14,005 | +€12,153 | +656% |
| Profit (loss) for the period to be appropriated | 9905 | €1,852 | €14,005 | +€12,153 | +656% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.