VERMACON: what changed
Two fiscal 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.
VERMACON
Largest movements
- Current investments -€102,062
down €102,062 (-100.0%), from €102,062 to €0
- Cash +€99,909
up €99,909 (+122.9%), from €81,312 to €181,221
mainly Current investments (+€102,062) and Net result for the year (+€30,226)
- Receivables within one year +€13,385
up €13,385 (+234.6%), from €5,705 to €19,091
of which Trade receivables: +€16,671
- Other debts +€6,457
up €6,457 (+26.2%), from €24,600 to €31,057
- Reserves +€2,892
up €2,892 (+1.8%), from €159,209 to €162,101
- Trade debts +€2,146
up €2,146 (+43.7%), from €4,907 to €7,052
- Financial income -€2,096
down €2,096 (-59.0%), from €3,551 to €1,455
- Gross operating margin +€1,289
up €1,289 (+2.7%), from €47,933 to €49,223
- Depreciation +€685
up €685 (+32.1%), from €2,133 to €2,818
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 | €203,768 | €213,960 | +€10,192 | +5.0% |
| Fixed assets | 21/28 | €12,326 | €11,750 | -€575 | -4.7% |
| Tangible fixed assets | 22/27 | €12,326 | €11,750 | -€575 | -4.7% |
| Furniture and vehicles | 24 | €12,326 | €11,750 | -€575 | -4.7% |
| Current assets | 29/58 | €191,443 | €202,210 | +€10,767 | +5.6% |
| Amounts receivable within one year | 40/41 | €5,705 | €19,091 | +€13,385 | +234.6% |
| Trade receivables | 40 | €2,420 | €19,091 | +€16,671 | +688.9% |
| Other amounts receivable | 41 | €3,285 | €0 | -€3,285 | -100.0% |
| Current investments | 50/53 | €102,062 | €0 | -€102,062 | -100.0% |
| Cash at bank and in hand | 54/58 | €81,312 | €181,221 | +€99,909 | +122.9% |
| Deferred charges and accrued income | 490/1 | €2,364 | €1,898 | -€465 | -19.7% |
| Total equity and liabilities | 10/49 | €203,768 | €213,960 | +€10,192 | +5.0% |
| Equity | 10/15 | €165,409 | €168,301 | +€2,892 | +1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €159,209 | €162,101 | +€2,892 | +1.8% |
| Distributable reserves | 133 | €159,209 | €162,101 | +€2,892 | +1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,359 | €45,659 | +€7,299 | +19.0% |
| Amounts payable within one year | 42/48 | €37,852 | €45,107 | +€7,254 | +19.2% |
| Trade debts | 44 | €4,907 | €7,052 | +€2,146 | +43.7% |
| Suppliers | 440/4 | €4,907 | €7,052 | +€2,146 | +43.7% |
| Taxes, remuneration and social security | 45 | €8,346 | €6,998 | -€1,348 | -16.1% |
| Taxes | 450/3 | €5,596 | €4,248 | -€1,348 | -24.1% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Other amounts payable | 47/48 | €24,600 | €31,057 | +€6,457 | +26.2% |
| Accrued charges and deferred income | 492/3 | €507 | €552 | +€45 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,133 | €2,818 | +€685 | +32.1% |
| Other operating charges | 640/8 | €1,808 | €1,753 | -€55 | -3.0% |
| Gross operating margin | 9900 | €47,933 | €49,223 | +€1,289 | +2.7% |
| Operating profit (loss) | 9901 | €43,993 | €44,652 | +€659 | +1.5% |
| Financial income | 75/76B | €3,551 | €1,455 | -€2,096 | -59.0% |
| Recurring financial income | 75 | €3,551 | €1,455 | -€2,096 | -59.0% |
| Financial charges | 65/66B | €2,726 | €2,475 | -€251 | -9.2% |
| Recurring financial charges | 65 | €2,726 | €2,475 | -€251 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €44,817 | €43,632 | -€1,185 | -2.6% |
| Income taxes | 67/77 | €13,874 | €13,407 | -€467 | -3.4% |
| Profit (loss) for the period | 9904 | €30,944 | €30,226 | -€718 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,944 | €30,226 | -€718 | -2.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.