VERMABO: 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.
VERMABO
Largest movements
- Tangible fixed assets -€25,392
down €25,392 (-2.8%), from €922,784 to €897,392
of which Land and buildings: -€15,217
- Cash -€10,146
down €10,146 (-77.3%), from €13,124 to €2,977
mainly Net result for the year (-€17,815) and Provisions (-€10,838)
- Provisions -€10,838
down €10,838 (-44.2%), from €24,546 to €13,708
- Debts after one year -€9,542
down €9,542 (-4.2%), from €225,789 to €216,247
- Gross operating margin +€3,904
up €3,904 (+17.3%), from €22,553 to €26,457
- Depreciation -€3,595
down €3,595 (-11.4%), from €31,509 to €27,914
- Financial charges -€602
down €602 (-5.5%), from €10,921 to €10,320
- Financial income +€431
up €431 (+1434.0%), from €30 to €461
- Other operating charges +€424
up €424 (+6.3%), from €6,752 to €7,176
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.
Cash bridge derived
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 | €940,198 | €902,667 | -€37,531 | -4.0% |
| Fixed assets | 21/28 | €922,784 | €897,392 | -€25,392 | -2.8% |
| Tangible fixed assets | 22/27 | €922,784 | €897,392 | -€25,392 | -2.8% |
| Land and buildings | 22 | €319,622 | €304,405 | -€15,217 | -4.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €34,981 | €24,806 | -€10,175 | -29.1% |
| Other tangible fixed assets | 26 | €568,181 | €568,181 | = | 0.0% |
| Current assets | 29/58 | €17,414 | €5,275 | -€12,139 | -69.7% |
| Amounts receivable within one year | 40/41 | €3,746 | €857 | -€2,889 | -77.1% |
| Trade receivables | 40 | €2,822 | €46 | -€2,777 | -98.4% |
| Other amounts receivable | 41 | €924 | €812 | -€112 | -12.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €13,124 | €2,977 | -€10,146 | -77.3% |
| Deferred charges and accrued income | 490/1 | €544 | €1,440 | +€896 | +164.6% |
| Total equity and liabilities | 10/49 | €940,198 | €902,667 | -€37,531 | -4.0% |
| Equity | 10/15 | €291,526 | €283,812 | -€7,714 | -2.6% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Reserves | 13 | €79,526 | €71,812 | -€7,714 | -9.7% |
| Tax-exempt reserves | 132 | €47,681 | €54,831 | +€7,150 | +15.0% |
| Distributable reserves | 133 | €31,845 | €16,981 | -€14,864 | -46.7% |
| Provisions and deferred taxes | 16 | €24,546 | €13,708 | -€10,838 | -44.2% |
| Deferred taxes | 168 | €24,546 | €13,708 | -€10,838 | -44.2% |
| Amounts payable | 17/49 | €624,126 | €605,147 | -€18,979 | -3.0% |
| Amounts payable after more than one year | 17 | €225,789 | €216,247 | -€9,542 | -4.2% |
| Financial debts | 170/4 | €225,789 | €216,247 | -€9,542 | -4.2% |
| Amounts payable within one year | 42/48 | €395,429 | €388,313 | -€7,115 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €9,138 | €9,542 | +€404 | +4.4% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,092 | €1,021 | -€70 | -6.4% |
| Taxes | 450/3 | €1,092 | €1,021 | -€70 | -6.4% |
| Other amounts payable | 47/48 | €385,198 | €377,750 | -€7,449 | -1.9% |
| Accrued charges and deferred income | 492/3 | €2,908 | €586 | -€2,322 | -79.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,509 | €27,914 | -€3,595 | -11.4% |
| Other operating charges | 640/8 | €6,752 | €7,176 | +€424 | +6.3% |
| Gross operating margin | 9900 | €22,553 | €26,457 | +€3,904 | +17.3% |
| Operating profit (loss) | 9901 | -€15,707 | -€8,633 | +€7,075 | +45.0% |
| Financial income | 75/76B | €30 | €461 | +€431 | +1434.0% |
| Recurring financial income | 75 | €30 | €461 | +€431 | +1434.0% |
| Financial charges | 65/66B | €10,921 | €10,320 | -€602 | -5.5% |
| Recurring financial charges | 65 | €10,921 | €10,320 | -€602 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,599 | -€18,492 | +€8,107 | +30.5% |
| Transfer from deferred taxes | 780 | €1,254 | €738 | -€516 | -41.2% |
| Income taxes | 67/77 | €140 | €61 | -€79 | -56.7% |
| Profit (loss) for the period | 9904 | -€25,485 | -€17,815 | +€7,670 | +30.1% |
| Transfer from tax-exempt reserves | 789 | €2,435 | €2,951 | +€516 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,050 | -€14,864 | +€8,186 | +35.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.