VERMAGON: 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.
VERMAGON
Largest movements
- Current investments +€75,653
up €75,653 (+32.1%), from €235,957 to €311,611
- Receivables within one year +€27,080
up €27,080 (+28.6%), from €94,817 to €121,897
of which Trade receivables: +€97,568
- Tangible fixed assets -€26,019
down €26,019 (-6.0%), from €432,282 to €406,263
of which Land and buildings: -€20,414
- Reserves +€184,828
up €184,828 (+39.3%), from €469,954 to €654,783
of which Distributable reserves: +€184,828
- Other debts -€48,712
down €48,712 (-26.9%), from €180,921 to €132,209
- Current portion of long-term debt -€29,450
down €29,450 (-53.1%), from €55,467 to €26,017
- Debts after one year -€26,017
down €26,017 (-73.9%), from €35,183 to €9,166
- Gross operating margin +€174,719
up €174,719 (+158%), from €110,870 to €285,589
- Taxes +€52,922
up €52,922 (+262%), from €20,199 to €73,121
- Financial income +€11,358
up €11,358 (+218%), from €5,218 to €16,575
- Depreciation -€6,461
down €6,461 (-18.5%), from €34,835 to €28,374
- Financial charges +€5,054
up €5,054 (+63.9%), from €7,913 to €12,968
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.
Derived cash bridge
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 | €789,716 | €875,561 | +€85,845 | +10.9% |
| Fixed assets | 21/28 | €432,282 | €406,263 | -€26,019 | -6.0% |
| Tangible fixed assets | 22/27 | €432,282 | €406,263 | -€26,019 | -6.0% |
| Land and buildings | 22 | €419,257 | €398,844 | -€20,414 | -4.9% |
| Plant, machinery and equipment | 23 | €286 | €1,243 | +€957 | +335% |
| Furniture and vehicles | 24 | €5,049 | €3,999 | -€1,049 | -20.8% |
| Other tangible fixed assets | 26 | €7,690 | €2,177 | -€5,514 | -71.7% |
| Current assets | 29/58 | €357,434 | €469,298 | +€111,864 | +31.3% |
| Amounts receivable within one year | 40/41 | €94,817 | €121,897 | +€27,080 | +28.6% |
| Trade receivables | 40 | €24,329 | €121,897 | +€97,568 | +401% |
| Other amounts receivable | 41 | €70,488 | €0 | -€70,488 | -100% |
| Current investments | 50/53 | €235,957 | €311,611 | +€75,653 | +32.1% |
| Cash at bank and in hand | 54/58 | €24,812 | €27,102 | +€2,289 | +9.2% |
| Deferred charges and accrued income | 490/1 | €1,847 | €8,689 | +€6,842 | +370% |
| Total equity and liabilities | 10/49 | €789,716 | €875,561 | +€85,845 | +10.9% |
| Equity | 10/15 | €476,154 | €660,983 | +€184,828 | +38.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €469,954 | €654,783 | +€184,828 | +39.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €469,954 | €654,783 | +€184,828 | +39.3% |
| Amounts payable | 17/49 | €313,561 | €214,578 | -€98,983 | -31.6% |
| Amounts payable after more than one year | 17 | €35,183 | €9,166 | -€26,017 | -73.9% |
| Financial debts | 170/4 | €35,183 | €9,166 | -€26,017 | -73.9% |
| Amounts payable within one year | 42/48 | €264,330 | €190,202 | -€74,128 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €55,467 | €26,017 | -€29,450 | -53.1% |
| Trade debts | 44 | €18,188 | €20,994 | +€2,806 | +15.4% |
| Suppliers | 440/4 | €18,188 | €20,994 | +€2,806 | +15.4% |
| Taxes, remuneration and social security | 45 | €9,754 | €10,982 | +€1,228 | +12.6% |
| Taxes | 450/3 | €9,754 | €10,982 | +€1,228 | +12.6% |
| Other amounts payable | 47/48 | €180,921 | €132,209 | -€48,712 | -26.9% |
| Accrued charges and deferred income | 492/3 | €14,048 | €15,210 | +€1,162 | +8.3% |
| Non-recurring operating income | 76A | - | €53,476 | +€53,476 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,835 | €28,374 | -€6,461 | -18.5% |
| Other operating charges | 640/8 | €5,136 | €2,874 | -€2,262 | -44.0% |
| Gross operating margin | 9900 | €110,870 | €285,589 | +€174,719 | +158% |
| Operating profit (loss) | 9901 | €70,899 | €254,341 | +€183,442 | +259% |
| Financial income | 75/76B | €5,218 | €16,575 | +€11,358 | +218% |
| Recurring financial income | 75 | €5,218 | €16,575 | +€11,358 | +218% |
| Financial charges | 65/66B | €7,913 | €12,968 | +€5,054 | +63.9% |
| Recurring financial charges | 65 | €7,913 | €12,968 | +€5,054 | +63.9% |
| Profit (loss) for the period before taxes | 9903 | €68,204 | €257,949 | +€189,746 | +278% |
| Income taxes | 67/77 | €20,199 | €73,121 | +€52,922 | +262% |
| Profit (loss) for the period | 9904 | €48,004 | €184,828 | +€136,824 | +285% |
| Profit (loss) for the period to be appropriated | 9905 | €48,004 | €184,828 | +€136,824 | +285% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.