VERMAGA: 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.
VERMAGA
Largest movements
- Tangible fixed assets -€24,030
down €24,030 (-3.5%), from €694,387 to €670,357
of which Land and buildings: -€22,569
- Cash +€20,403
up €20,403 (+174.1%), from €11,720 to €32,123
mainly Depreciation (+€28,331) and Receivables within one year (+€18,388)
- Receivables within one year -€18,388
down €18,388 (-46.0%), from €39,998 to €21,610
of which Other amounts receivable: -€11,976
- Debts after one year -€21,732
down €21,732 (-6.7%), from €326,162 to €304,430
- Profit (loss) carried forward +€12,078
up €12,078 (+485.4%), from €2,488 to €14,566
- Taxes +€2,421
up €2,421 (+2421460.0%), from €0 to €2,422
- Gross operating margin +€1,836
up €1,836 (+3.1%), from €60,099 to €61,935
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 | €748,454 | €726,217 | -€22,238 | -3.0% |
| Fixed assets | 21/28 | €694,387 | €670,357 | -€24,030 | -3.5% |
| Tangible fixed assets | 22/27 | €694,387 | €670,357 | -€24,030 | -3.5% |
| Land and buildings | 22 | €673,338 | €650,768 | -€22,569 | -3.4% |
| Plant, machinery and equipment | 23 | €7,871 | €10,184 | +€2,313 | +29.4% |
| Furniture and vehicles | 24 | €13,178 | €9,405 | -€3,773 | -28.6% |
| Current assets | 29/58 | €54,067 | €55,859 | +€1,792 | +3.3% |
| Amounts receivable within one year | 40/41 | €39,998 | €21,610 | -€18,388 | -46.0% |
| Trade receivables | 40 | €26,971 | €20,558 | -€6,413 | -23.8% |
| Other amounts receivable | 41 | €13,028 | €1,052 | -€11,976 | -91.9% |
| Cash at bank and in hand | 54/58 | €11,720 | €32,123 | +€20,403 | +174.1% |
| Deferred charges and accrued income | 490/1 | €2,349 | €2,127 | -€222 | -9.5% |
| Total equity and liabilities | 10/49 | €748,454 | €726,217 | -€22,238 | -3.0% |
| Equity | 10/15 | €12,488 | €24,566 | +€12,078 | +96.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,488 | €14,566 | +€12,078 | +485.4% |
| Amounts payable | 17/49 | €735,966 | €701,651 | -€34,316 | -4.7% |
| Amounts payable after more than one year | 17 | €326,162 | €304,430 | -€21,732 | -6.7% |
| Financial debts | 170/4 | €326,162 | €304,430 | -€21,732 | -6.7% |
| Amounts payable within one year | 42/48 | €383,481 | €377,767 | -€5,714 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €22,577 | €21,732 | -€845 | -3.7% |
| Trade debts | 44 | €7,716 | €3,475 | -€4,241 | -55.0% |
| Suppliers | 440/4 | €7,716 | €3,475 | -€4,241 | -55.0% |
| Other amounts payable | 47/48 | €353,188 | €352,560 | -€628 | -0.2% |
| Accrued charges and deferred income | 492/3 | €26,322 | €19,453 | -€6,869 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,736 | €28,331 | +€595 | +2.1% |
| Other operating charges | 640/8 | €4,005 | €4,147 | +€142 | +3.6% |
| Gross operating margin | 9900 | €60,099 | €61,935 | +€1,836 | +3.1% |
| Operating profit (loss) | 9901 | €28,358 | €29,456 | +€1,098 | +3.9% |
| Financial income | 75/76B | €0 | €1 | +€1 | +205.9% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +205.9% |
| Financial charges | 65/66B | €15,447 | €14,958 | -€489 | -3.2% |
| Recurring financial charges | 65 | €15,447 | €14,958 | -€489 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €12,912 | €14,500 | +€1,588 | +12.3% |
| Income taxes | 67/77 | €0 | €2,422 | +€2,421 | +2421460.0% |
| Profit (loss) for the period | 9904 | €12,912 | €12,078 | -€834 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,912 | €12,078 | -€834 | -6.5% |
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 11 October 2026 via checked.be.