VERMAKO: what changed
What changed
VERMAKO
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€298,511
2024 · €840,394-€541,883
Equity
€1.6m
2024 · €1.6m+€3,511
Cash
€221,240
2024 · €488,625-€267,385
Balance sheet total
€4.0m
2024 · €4.5m-€505,217
Largest movements
Assets
- Tangible fixed assets -€514,679
down €514,679 (-37.6%), from €1.4m to €855,840
of which Plant, machinery and equipment: -€369,776
- Receivables within one year +€267,970
up €267,970 (+16.6%), from €1.6m to €1.9m
of which Other amounts receivable: +€387,510
- Cash -€267,385
down €267,385 (-54.7%), from €488,625 to €221,240
mainly Other debts (-€557,379) and Contributions, distributions and other (-€295,000)
- Stocks and contracts -€148,186
down €148,186 (-16.5%), from €900,001 to €751,815
of which Contracts in progress: -€400,001
- Intangible fixed assets +€115,448
up €115,448 (+106%), from €108,541 to €223,989
Equity and liabilities
- Other debts -€557,379
down €557,379 (-65.4%), from €852,379 to €295,000
- Trade debts +€270,010
up €270,010 (+27.5%), from €983,404 to €1.3m
- Debts after one year -€191,958
down €191,958 (-46.6%), from €412,260 to €220,302
Income statement
- Turnover -€9.0m
no longer reported in 2025 (was €9.0m)
- Goods and materials -€4.6m
no longer reported in 2025 (was €4.6m)
of which Purchases: -€4.7m
- Gross operating margin +€2.4m
new in 2025: €2.4m
- Services and other goods -€1.4m
no longer reported in 2025 (was €1.4m)
- Taxes -€182,416
down €182,416 (-64.3%), from €283,755 to €101,339
of which Taxes: -€284,291
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€840,394
Turnover
-€9.0m
Other operating income
-€73,689
Goods and materials
+€4.6m
Services and other goods
+€1.4m
Staff costs
-€38,887
Depreciation
-€36,216
Other operating charges
+€4,592
Other operating items
+€2.3m
Financial income
+€16,697
Financial charges
+€6,658
Taxes
+€182,416
Result 2025
€298,511
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€505,150
Investment
-€268,586
Financing
-€503,950
Cash 2024
€488,625
From operations (derived)
+€505,150
Net result for the year
+€298,511
Depreciation
+€667,817
Stocks and contracts
+€148,186
Receivables within one year
-€267,970
Deferred charges and accrued income
-€41,616
Trade debts
+€270,010
Tax, wage and social debts
-€43,863
Advances received
+€31,454
Other debts
-€557,379
Investment (derived)
-€268,586
Investment in fixed assets (net)
-€268,586
Financing
-€503,950
Debts after one year
-€191,958
Current portion of long-term debt
-€16,991
Contributions, distributions and other
-€295,000
Cash 2025
€221,240
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,486,750 | €3,981,532 | -€505,217 | -11.3% |
| Fixed assets | 21/28 | €1,479,060 | €1,079,829 | -€399,231 | -27.0% |
| Intangible fixed assets | 21 | €108,541 | €223,989 | +€115,448 | +106% |
| Tangible fixed assets | 22/27 | €1,370,519 | €855,840 | -€514,679 | -37.6% |
| Land and buildings | 22 | €5,735 | €18,730 | +€12,995 | +227% |
| Plant, machinery and equipment | 23 | €849,698 | €479,922 | -€369,776 | -43.5% |
| Furniture and vehicles | 24 | €515,086 | €357,189 | -€157,897 | -30.7% |
| Current assets | 29/58 | €3,007,690 | €2,901,704 | -€105,986 | -3.5% |
| Stocks and contracts in progress | 3 | €900,001 | €751,815 | -€148,186 | -16.5% |
| Stocks | 30/36 | €500,000 | €751,815 | +€251,815 | +50.4% |
| Goods purchased for resale | 34 | €500,000 | - | -€500,000 | |
| Contracts in progress | 37 | €400,001 | €0 | -€400,001 | -100% |
| Amounts receivable within one year | 40/41 | €1,619,064 | €1,887,034 | +€267,970 | +16.6% |
| Trade receivables | 40 | €1,447,814 | €1,328,274 | -€119,540 | -8.3% |
| Other amounts receivable | 41 | €171,250 | €558,760 | +€387,510 | +226% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €488,625 | €221,240 | -€267,385 | -54.7% |
| Deferred charges and accrued income | 490/1 | - | €41,616 | +€41,616 | |
| Total equity and liabilities | 10/49 | €4,486,750 | €3,981,532 | -€505,217 | -11.3% |
| Equity | 10/15 | €1,642,060 | €1,645,570 | +€3,511 | +0.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,623,468 | €1,626,978 | +€3,511 | +0.2% |
| Non-distributable reserves | 130/1 | €4,622 | €4,622 | = | 0.0% |
| Other | 1319 | €4,622 | €4,622 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,028 | €4,028 | = | 0.0% |
| Distributable reserves | 133 | €1,614,818 | €1,618,328 | +€3,511 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,844,690 | €2,335,962 | -€508,728 | -17.9% |
| Amounts payable after more than one year | 17 | €412,260 | €220,302 | -€191,958 | -46.6% |
| Financial debts | 170/4 | €412,260 | €220,302 | -€191,958 | -46.6% |
| Credit institutions | 173 | €412,260 | - | -€412,260 | |
| Amounts payable within one year | 42/48 | €2,432,430 | €2,115,660 | -€316,770 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €282,088 | €265,096 | -€16,991 | -6.0% |
| Trade debts | 44 | €983,404 | €1,253,414 | +€270,010 | +27.5% |
| Suppliers | 440/4 | €983,404 | €1,253,414 | +€270,010 | +27.5% |
| Advances received on contracts in progress | 46 | €140,000 | €171,454 | +€31,454 | +22.5% |
| Taxes, remuneration and social security | 45 | €174,559 | €130,696 | -€43,863 | -25.1% |
| Taxes | 450/3 | €11,036 | €1,339 | -€9,697 | -87.9% |
| Remuneration and social security | 454/9 | €163,523 | €129,357 | -€34,166 | -20.9% |
| Other amounts payable | 47/48 | €852,379 | €295,000 | -€557,379 | -65.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €9,129,685 | - | -€9.1m | |
| Turnover | 70 | €8,981,871 | - | -€9.0m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €72,755 | - | -€72,755 | |
| Other operating income | 74 | €73,689 | - | -€73,689 | |
| Non-recurring operating income | 76A | €1,370 | €10,641 | +€9,271 | +677% |
| Operating charges | 60/66A | €7,992,831 | - | -€8.0m | |
| Goods for resale, raw materials and consumables | 60 | €4,596,843 | - | -€4.6m | |
| Purchases | 600/8 | €4,684,892 | - | -€4.7m | |
| Change in stocks: decrease (increase) | 609 | -€88,049 | - | +€88,049 | |
| Services and other goods | 61 | €1,437,564 | - | -€1.4m | |
| Remuneration, social security and pensions | 62 | €1,270,063 | €1,308,950 | +€38,887 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €631,601 | €667,817 | +€36,216 | +5.7% |
| Other operating charges | 640/8 | €56,760 | €52,168 | -€4,592 | -8.1% |
| Gross operating margin | 9900 | - | €2,418,135 | +€2.4m | |
| Operating profit (loss) | 9901 | €1,136,854 | €389,200 | -€747,654 | -65.8% |
| Financial income | 75/76B | €17,171 | €33,868 | +€16,697 | +97.2% |
| Recurring financial income | 75 | €17,171 | €33,868 | +€16,697 | +97.2% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Other financial income | 752/9 | €17,171 | - | -€17,171 | |
| Financial charges | 65/66B | €29,876 | €23,217 | -€6,658 | -22.3% |
| Recurring financial charges | 65 | €29,876 | €23,217 | -€6,658 | -22.3% |
| Debt charges | 650 | €21,472 | - | -€21,472 | |
| Other financial charges | 652/9 | €8,403 | - | -€8,403 | |
| Profit (loss) for the period before taxes | 9903 | €1,124,149 | €399,850 | -€724,299 | -64.4% |
| Income taxes | 67/77 | €283,755 | €101,339 | -€182,416 | -64.3% |
| Taxes | 670/3 | €284,291 | - | -€284,291 | |
| Tax adjustments and reversals of tax provisions | 77 | €536 | - | -€536 | |
| Profit (loss) for the period | 9904 | €840,394 | €298,511 | -€541,883 | -64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €840,394 | €298,511 | -€541,883 | -64.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.