VERMACORP: 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.
VERMACORP
Largest movements
- Cash -€76,436
down €76,436 (-85.0%), from €89,902 to €13,466
mainly Stocks and contracts (-€65,764) and Contributions, distributions and other (-€42,000)
- Stocks and contracts +€65,764
up €65,764 (+66.4%), from €98,972 to €164,736
- Tangible fixed assets -€26,155
down €26,155 (-13.2%), from €198,543 to €172,388
- Receivables within one year +€16,679
up €16,679 (+997.4%), from €1,672 to €18,351
of which Other amounts receivable: +€8,606
- Contributions -€42,000
no longer reported in 2025 (was €42,000)
- Reserves +€39,737
up €39,737 (+28.6%), from €138,831 to €178,567
- Tax, wage and social debts -€24,145
down €24,145 (-38.6%), from €62,553 to €38,408
- Other debts +€12,768
up €12,768 (+85.9%), from €14,867 to €27,635
- Debts after one year -€10,621
down €10,621 (-9.8%), from €108,070 to €97,449
- Gross operating margin -€51,228
down €51,228 (-32.5%), from €157,805 to €106,577
- Other operating charges -€21,178
down €21,178 (-92.4%), from €22,920 to €1,742
- Taxes -€9,695
down €9,695 (-30.5%), from €31,827 to €22,132
- Financial charges +€3,427
up €3,427 (+25.6%), from €13,397 to €16,824
- Depreciation +€2,503
up €2,503 (+10.6%), from €23,652 to €26,155
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 | €391,244 | €370,989 | -€20,255 | -5.2% |
| Fixed assets | 21/28 | €200,043 | €172,388 | -€27,655 | -13.8% |
| Tangible fixed assets | 22/27 | €198,543 | €172,388 | -€26,155 | -13.2% |
| Land and buildings | 22 | €134,780 | €125,642 | -€9,138 | -6.8% |
| Plant, machinery and equipment | 23 | €36,438 | €26,143 | -€10,295 | -28.3% |
| Furniture and vehicles | 24 | €27,325 | €20,603 | -€6,722 | -24.6% |
| Financial fixed assets | 28 | €1,500 | - | -€1,500 | |
| Current assets | 29/58 | €191,201 | €198,601 | +€7,400 | +3.9% |
| Stocks and contracts in progress | 3 | €98,972 | €164,736 | +€65,764 | +66.4% |
| Stocks | 30/36 | €98,972 | €164,736 | +€65,764 | +66.4% |
| Amounts receivable within one year | 40/41 | €1,672 | €18,351 | +€16,679 | +997.4% |
| Trade receivables | 40 | €1,672 | €9,745 | +€8,073 | +482.8% |
| Other amounts receivable | 41 | - | €8,606 | +€8,606 | |
| Cash at bank and in hand | 54/58 | €89,902 | €13,466 | -€76,436 | -85.0% |
| Deferred charges and accrued income | 490/1 | €655 | €2,049 | +€1,394 | +212.7% |
| Total equity and liabilities | 10/49 | €391,244 | €370,989 | -€20,255 | -5.2% |
| Equity | 10/15 | €180,831 | €178,567 | -€2,263 | -1.3% |
| Contributions | 10/11 | €42,000 | - | -€42,000 | |
| Reserves | 13 | €138,831 | €178,567 | +€39,737 | +28.6% |
| Distributable reserves | 133 | €138,831 | €178,567 | +€39,737 | +28.6% |
| Amounts payable | 17/49 | €210,413 | €192,422 | -€17,991 | -8.6% |
| Amounts payable after more than one year | 17 | €108,070 | €97,449 | -€10,621 | -9.8% |
| Financial debts | 170/4 | €108,070 | €97,449 | -€10,621 | -9.8% |
| Amounts payable within one year | 42/48 | €102,343 | €94,973 | -€7,370 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €10,255 | €19,041 | +€8,786 | +85.7% |
| Trade debts | 44 | €14,667 | €9,888 | -€4,779 | -32.6% |
| Suppliers | 440/4 | €14,667 | €9,888 | -€4,779 | -32.6% |
| Taxes, remuneration and social security | 45 | €62,553 | €38,408 | -€24,145 | -38.6% |
| Taxes | 450/3 | €62,553 | €38,408 | -€24,145 | -38.6% |
| Other amounts payable | 47/48 | €14,867 | €27,635 | +€12,768 | +85.9% |
| Non-recurring operating income | 76A | €176 | - | -€176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,652 | €26,155 | +€2,503 | +10.6% |
| Other operating charges | 640/8 | €22,920 | €1,742 | -€21,178 | -92.4% |
| Gross operating margin | 9900 | €157,805 | €106,577 | -€51,228 | -32.5% |
| Operating profit (loss) | 9901 | €111,234 | €78,680 | -€32,554 | -29.3% |
| Financial income | 75/76B | €46 | €12 | -€34 | -73.2% |
| Recurring financial income | 75 | €46 | €12 | -€34 | -73.2% |
| Financial charges | 65/66B | €13,397 | €16,824 | +€3,427 | +25.6% |
| Recurring financial charges | 65 | €13,397 | €16,824 | +€3,427 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €97,883 | €61,868 | -€36,014 | -36.8% |
| Income taxes | 67/77 | €31,827 | €22,132 | -€9,695 | -30.5% |
| Profit (loss) for the period | 9904 | €66,056 | €39,737 | -€26,320 | -39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €66,056 | €39,737 | -€26,320 | -39.8% |
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 1 October 2026 via checked.be.