VERM: 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.
VERM
Largest movements
- Cash +€42,668
up €42,668 (+338%), from €12,606 to €55,273
mainly Net result for the year (+€19,971) and Accrued charges and deferred income (+€19,247)
- Receivables within one year -€9,190
down €9,190 (-18.0%), from €50,960 to €41,769
of which Trade receivables: -€14,198
- Reserves +€19,971
up €19,971 (+50.5%), from €39,545 to €59,516
- Accrued charges and deferred income +€19,247
new in 2025: €19,247
- Trade debts -€7,237
down €7,237 (-80.2%), from €9,027 to €1,790
- Other debts +€1,882
up €1,882 (+46.9%), from €4,016 to €5,898
- Gross operating margin -€5,088
down €5,088 (-15.2%), from €33,542 to €28,454
- Taxes -€1,568
down €1,568 (-22.2%), from €7,061 to €5,493
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,138 | €101,712 | +€33,574 | +49.3% |
| Fixed assets | 21/28 | €4,573 | €4,196 | -€377 | -8.2% |
| Tangible fixed assets | 22/27 | €4,573 | €4,196 | -€377 | -8.2% |
| Plant, machinery and equipment | 23 | €4,573 | €4,196 | -€377 | -8.2% |
| Current assets | 29/58 | €63,565 | €97,516 | +€33,951 | +53.4% |
| Amounts receivable within one year | 40/41 | €50,960 | €41,769 | -€9,190 | -18.0% |
| Trade receivables | 40 | €50,520 | €36,323 | -€14,198 | -28.1% |
| Other amounts receivable | 41 | €439 | €5,446 | +€5,007 | +1,140% |
| Cash at bank and in hand | 54/58 | €12,606 | €55,273 | +€42,668 | +338% |
| Deferred charges and accrued income | 490/1 | €0 | €474 | +€474 | |
| Total equity and liabilities | 10/49 | €68,138 | €101,712 | +€33,574 | +49.3% |
| Equity | 10/15 | €44,545 | €64,516 | +€19,971 | +44.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €39,545 | €59,516 | +€19,971 | +50.5% |
| Distributable reserves | 133 | €39,545 | €59,516 | +€19,971 | +50.5% |
| Amounts payable | 17/49 | €23,593 | €37,196 | +€13,603 | +57.7% |
| Amounts payable within one year | 42/48 | €23,593 | €17,949 | -€5,644 | -23.9% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €9,027 | €1,790 | -€7,237 | -80.2% |
| Suppliers | 440/4 | €9,027 | €1,790 | -€7,237 | -80.2% |
| Taxes, remuneration and social security | 45 | €10,550 | €10,261 | -€289 | -2.7% |
| Taxes | 450/3 | €8,800 | €7,927 | -€874 | -9.9% |
| Remuneration and social security | 454/9 | €1,750 | €2,334 | +€584 | +33.4% |
| Other amounts payable | 47/48 | €4,016 | €5,898 | +€1,882 | +46.9% |
| Accrued charges and deferred income | 492/3 | - | €19,247 | +€19,247 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,125 | €2,375 | +€250 | +11.8% |
| Other operating charges | 640/8 | €387 | €544 | +€156 | +40.4% |
| Gross operating margin | 9900 | €33,542 | €28,454 | -€5,088 | -15.2% |
| Operating profit (loss) | 9901 | €31,030 | €25,535 | -€5,495 | -17.7% |
| Financial income | 75/76B | €15 | €0 | -€15 | -99.5% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -99.5% |
| Financial charges | 65/66B | €70 | €71 | +€1 | +1.0% |
| Recurring financial charges | 65 | €70 | €71 | +€1 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €30,974 | €25,464 | -€5,510 | -17.8% |
| Income taxes | 67/77 | €7,061 | €5,493 | -€1,568 | -22.2% |
| Profit (loss) for the period | 9904 | €23,913 | €19,971 | -€3,942 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,913 | €19,971 | -€3,942 | -16.5% |
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 15 October 2026 via checked.be.