VERMAN: 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.
VERMAN
Largest movements
- Financial fixed assets -€792,602
down €792,602 (-65.2%), from €1.2m to €423,784
- Tangible fixed assets -€712,078
down €712,078 (-13.5%), from €5.3m to €4.6m
of which Plant, machinery and equipment: -€485,054
- Receivables within one year +€218,943
up €218,943 (+50.5%), from €433,576 to €652,519
of which Trade receivables: +€291,104
- Cash -€178,684
down €178,684 (-70.7%), from €252,856 to €74,172
mainly Short-term financial debts (-€1.0m) and Net result for the year (-€647,380)
- Short-term financial debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Profit (loss) carried forward -€647,380
down €647,380 (-89.2%), from -€725,574 to -€1.4m
- Debts after one year +€357,140
up €357,140 (+7.4%), from €4.8m to €5.2m
of which Financial debts: +€347,759
- Other debts -€356,807
down €356,807 (-21.5%), from €1.7m to €1.3m
- Trade debts +€107,741
up €107,741 (+612%), from €17,591 to €125,332
- Gross operating margin -€71,340
down €71,340 (-15.3%), from €467,670 to €396,331
- Depreciation -€45,941
down €45,941 (-13.8%), from €331,837 to €285,897
- Financial income -€32,116
down €32,116 (-73.5%), from €43,681 to €11,565
- Other operating charges +€25,095
up €25,095 (+54.8%), from €45,753 to €70,848
- Financial charges -€20,285
down €20,285 (-7.5%), from €268,689 to €248,404
of which Non-recurring financial charges: -€34,000
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 | €7,224,848 | €5,723,197 | -€1.5m | -20.8% |
| Fixed assets | 21/28 | €6,499,554 | €4,994,874 | -€1.5m | -23.2% |
| Tangible fixed assets | 22/27 | €5,283,169 | €4,571,091 | -€712,078 | -13.5% |
| Land and buildings | 22 | €4,778,658 | €4,553,011 | -€225,647 | -4.7% |
| Plant, machinery and equipment | 23 | €486,700 | €1,646 | -€485,054 | -99.7% |
| Furniture and vehicles | 24 | €17,810 | €7,836 | -€9,974 | -56.0% |
| Leasing and similar rights | 25 | €0 | €8,597 | +€8,597 | |
| Financial fixed assets | 28 | €1,216,386 | €423,784 | -€792,602 | -65.2% |
| Current assets | 29/58 | €725,294 | €728,323 | +€3,029 | +0.4% |
| Amounts receivable within one year | 40/41 | €433,576 | €652,519 | +€218,943 | +50.5% |
| Trade receivables | 40 | €51,488 | €342,592 | +€291,104 | +565% |
| Other amounts receivable | 41 | €382,088 | €309,928 | -€72,161 | -18.9% |
| Cash at bank and in hand | 54/58 | €252,856 | €74,172 | -€178,684 | -70.7% |
| Deferred charges and accrued income | 490/1 | €38,862 | €1,631 | -€37,231 | -95.8% |
| Total equity and liabilities | 10/49 | €7,224,848 | €5,723,197 | -€1.5m | -20.8% |
| Equity | 10/15 | -€680,673 | -€1,328,053 | -€647,380 | -95.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €26,300 | €26,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €24,440 | €26,300 | +€1,860 | +7.6% |
| Profit (loss) carried forward | 14 | -€725,574 | -€1,372,954 | -€647,380 | -89.2% |
| Provisions and deferred taxes | 16 | €4,138 | €4,138 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €4,138 | €4,138 | = | 0.0% |
| Pensions and similar obligations | 160 | €4,138 | €4,138 | = | 0.0% |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €7,901,384 | €7,047,113 | -€854,271 | -10.8% |
| Amounts payable after more than one year | 17 | €4,831,758 | €5,188,898 | +€357,140 | +7.4% |
| Financial debts | 170/4 | €4,713,764 | €5,061,523 | +€347,759 | +7.4% |
| Other amounts payable | 178/9 | €117,994 | €127,375 | +€9,381 | +8.0% |
| Amounts payable within one year | 42/48 | €3,067,126 | €1,854,311 | -€1.2m | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €369,614 | €414,042 | +€44,428 | +12.0% |
| Financial debts | 43 | €1,000,000 | €0 | -€1.0m | -100% |
| Credit institutions | 430/8 | €1,000,000 | €0 | -€1.0m | -100% |
| Trade debts | 44 | €17,591 | €125,332 | +€107,741 | +612% |
| Suppliers | 440/4 | €17,591 | €125,332 | +€107,741 | +612% |
| Taxes, remuneration and social security | 45 | €20,378 | €12,200 | -€8,178 | -40.1% |
| Taxes | 450/3 | €20,378 | €12,200 | -€8,178 | -40.1% |
| Other amounts payable | 47/48 | €1,659,543 | €1,302,736 | -€356,807 | -21.5% |
| Accrued charges and deferred income | 492/3 | €2,500 | €3,904 | +€1,404 | +56.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331,837 | €285,897 | -€45,941 | -13.8% |
| Other operating charges | 640/8 | €45,753 | €70,848 | +€25,095 | +54.8% |
| Non-recurring operating charges | 66A | €284 | €449,285 | +€449,002 | +158,378% |
| Gross operating margin | 9900 | €467,670 | €396,331 | -€71,340 | -15.3% |
| Operating profit (loss) | 9901 | €89,796 | -€409,699 | -€499,495 | |
| Financial income | 75/76B | €43,681 | €11,565 | -€32,116 | -73.5% |
| Recurring financial income | 75 | €43,681 | €11,565 | -€32,116 | -73.5% |
| Financial charges | 65/66B | €268,689 | €248,404 | -€20,285 | -7.5% |
| Recurring financial charges | 65 | €234,689 | €248,404 | +€13,715 | +5.8% |
| Non-recurring financial charges | 66B | €34,000 | €0 | -€34,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€135,211 | -€646,538 | -€511,326 | -378% |
| Income taxes | 67/77 | €830 | €842 | +€13 | +1.5% |
| Profit (loss) for the period | 9904 | -€136,041 | -€647,380 | -€511,339 | -376% |
| Profit (loss) for the period to be appropriated | 9905 | -€136,041 | -€647,380 | -€511,339 | -376% |
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 31 October 2026 via checked.be.