VERMAERKE CONSTRUCT: 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.
VERMAERKE CONSTRUCT
Largest movements
- Receivables within one year +€22,869
up €22,869 (+42.9%), from €53,325 to €76,195
of which Other amounts receivable: +€22,264
- Tangible fixed assets -€2,893
down €2,893 (-55.7%), from €5,198 to €2,304
of which Furniture and vehicles: -€2,772
- Cash -€2,401
down €2,401 (-9.0%), from €26,733 to €24,332
mainly Receivables within one year (-€22,869) and Other debts (-€201)
- Profit (loss) carried forward +€12,772
up €12,772 (+24.4%), from €52,294 to €65,066
- Tax, wage and social debts +€3,743
up €3,743 (+14.3%), from €26,250 to €29,993
- Trade debts +€1,461
up €1,461 (+13741.4%), from €11 to €1,471
- Gross operating margin -€49,931
down €49,931 (-70.6%), from €70,675 to €20,743
- Taxes -€9,996
down €9,996 (-74.0%), from €13,503 to €3,507
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 | €85,256 | €102,831 | +€17,574 | +20.6% |
| Fixed assets | 21/28 | €5,198 | €2,304 | -€2,893 | -55.7% |
| Tangible fixed assets | 22/27 | €5,198 | €2,304 | -€2,893 | -55.7% |
| Plant, machinery and equipment | 23 | €545 | €424 | -€121 | -22.2% |
| Furniture and vehicles | 24 | €4,652 | €1,880 | -€2,772 | -59.6% |
| Current assets | 29/58 | €80,059 | €100,527 | +€20,468 | +25.6% |
| Amounts receivable within one year | 40/41 | €53,325 | €76,195 | +€22,869 | +42.9% |
| Trade receivables | 40 | €42,955 | €43,560 | +€605 | +1.4% |
| Other amounts receivable | 41 | €10,370 | €32,635 | +€22,264 | +214.7% |
| Cash at bank and in hand | 54/58 | €26,733 | €24,332 | -€2,401 | -9.0% |
| Total equity and liabilities | 10/49 | €85,256 | €102,831 | +€17,574 | +20.6% |
| Equity | 10/15 | €58,594 | €71,366 | +€12,772 | +21.8% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,294 | €65,066 | +€12,772 | +24.4% |
| Amounts payable | 17/49 | €26,662 | €31,465 | +€4,803 | +18.0% |
| Amounts payable within one year | 42/48 | €26,462 | €31,465 | +€5,003 | +18.9% |
| Trade debts | 44 | €11 | €1,471 | +€1,461 | +13741.4% |
| Suppliers | 440/4 | €11 | €1,471 | +€1,461 | +13741.4% |
| Taxes, remuneration and social security | 45 | €26,250 | €29,993 | +€3,743 | +14.3% |
| Taxes | 450/3 | €26,250 | €29,993 | +€3,743 | +14.3% |
| Other amounts payable | 47/48 | €201 | - | -€201 | |
| Accrued charges and deferred income | 492/3 | €200 | - | -€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,782 | €2,893 | +€111 | +4.0% |
| Other operating charges | 640/8 | €788 | €1,217 | +€429 | +54.4% |
| Gross operating margin | 9900 | €70,675 | €20,743 | -€49,931 | -70.6% |
| Operating profit (loss) | 9901 | €67,104 | €16,633 | -€50,471 | -75.2% |
| Financial income | 75/76B | €60 | €570 | +€510 | +854.4% |
| Recurring financial income | 75 | €60 | €570 | +€510 | +854.4% |
| Financial charges | 65/66B | €1,367 | €925 | -€442 | -32.3% |
| Recurring financial charges | 65 | €1,367 | €925 | -€442 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €65,797 | €16,278 | -€49,519 | -75.3% |
| Income taxes | 67/77 | €13,503 | €3,507 | -€9,996 | -74.0% |
| Profit (loss) for the period | 9904 | €52,294 | €12,772 | -€39,523 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,294 | €12,772 | -€39,523 | -75.6% |
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 6 October 2026 via checked.be.