VERMANDER TRADING SERVICES: 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.
VERMANDER TRADING SERVICES
Largest movements
- Tangible fixed assets +€92,133
up €92,133 (+100%), from €91,805 to €183,938
of which Furniture and vehicles: +€100,026
- Cash -€44,067
down €44,067 (-19.3%), from €228,606 to €184,539
mainly Investment in fixed assets (net) (-€119,491) and Receivables within one year (-€26,738)
- Receivables within one year +€26,738
up €26,738 (+10.0%), from €266,362 to €293,100
of which Other amounts receivable: +€28,818
- Reserves +€43,842
up €43,842 (+10.8%), from €406,601 to €450,443
of which Distributable reserves: +€43,842
- Debts after one year +€39,956
new in 2025: €39,956
- Current portion of long-term debt +€14,283
new in 2025: €14,283
- Tax, wage and social debts -€13,627
down €13,627 (-20.9%), from €65,084 to €51,458
- Other debts -€12,829
no longer reported in 2025 (was €12,829)
- Gross operating margin -€50,663
down €50,663 (-32.8%), from €154,435 to €103,772
- Taxes -€16,087
down €16,087 (-38.3%), from €41,978 to €25,891
- Depreciation -€7,981
down €7,981 (-22.6%), from €35,339 to €27,357
- Other operating charges -€2,312
down €2,312 (-34.2%), from €6,752 to €4,440
- Staff costs +€1,831
new in 2025: €1,831
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 | €586,774 | €664,377 | +€77,603 | +13.2% |
| Fixed assets | 21/28 | €91,805 | €183,938 | +€92,133 | +100% |
| Tangible fixed assets | 22/27 | €91,805 | €183,938 | +€92,133 | +100% |
| Land and buildings | 22 | €71,931 | €63,444 | -€8,487 | -11.8% |
| Plant, machinery and equipment | 23 | €7,251 | €7,845 | +€594 | +8.2% |
| Furniture and vehicles | 24 | €12,623 | €112,649 | +€100,026 | +792% |
| Current assets | 29/58 | €494,969 | €480,439 | -€14,530 | -2.9% |
| Amounts receivable within one year | 40/41 | €266,362 | €293,100 | +€26,738 | +10.0% |
| Trade receivables | 40 | €19,433 | €17,352 | -€2,081 | -10.7% |
| Other amounts receivable | 41 | €246,929 | €275,748 | +€28,818 | +11.7% |
| Cash at bank and in hand | 54/58 | €228,606 | €184,539 | -€44,067 | -19.3% |
| Deferred charges and accrued income | 490/1 | - | €2,800 | +€2,800 | |
| Total equity and liabilities | 10/49 | €586,774 | €664,377 | +€77,603 | +13.2% |
| Equity | 10/15 | €503,201 | €547,043 | +€43,842 | +8.7% |
| Contributions | 10/11 | €96,600 | €96,600 | = | 0.0% |
| Reserves | 13 | €406,601 | €450,443 | +€43,842 | +10.8% |
| Non-distributable reserves | 130/1 | €10,160 | €10,160 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,160 | €10,160 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €387,941 | €431,783 | +€43,842 | +11.3% |
| Amounts payable | 17/49 | €83,573 | €117,335 | +€33,762 | +40.4% |
| Amounts payable after more than one year | 17 | - | €39,956 | +€39,956 | |
| Other amounts payable | 178/9 | - | €39,956 | +€39,956 | |
| Amounts payable within one year | 42/48 | €82,073 | €75,879 | -€6,194 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | - | €14,283 | +€14,283 | |
| Trade debts | 44 | €4,160 | €10,138 | +€5,978 | +144% |
| Suppliers | 440/4 | €4,160 | €10,138 | +€5,978 | +144% |
| Taxes, remuneration and social security | 45 | €65,084 | €51,458 | -€13,627 | -20.9% |
| Taxes | 450/3 | €65,084 | €51,458 | -€13,627 | -20.9% |
| Other amounts payable | 47/48 | €12,829 | - | -€12,829 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | €5,459 | €14,694 | +€9,234 | +169% |
| Remuneration, social security and pensions | 62 | - | €1,831 | +€1,831 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,339 | €27,357 | -€7,981 | -22.6% |
| Other operating charges | 640/8 | €6,752 | €4,440 | -€2,312 | -34.2% |
| Gross operating margin | 9900 | €154,435 | €103,772 | -€50,663 | -32.8% |
| Operating profit (loss) | 9901 | €112,345 | €70,144 | -€42,200 | -37.6% |
| Financial income | 75/76B | €321 | €1,052 | +€731 | +228% |
| Recurring financial income | 75 | €321 | €1,052 | +€731 | +228% |
| Financial charges | 65/66B | €399 | €1,464 | +€1,064 | +267% |
| Recurring financial charges | 65 | €399 | €1,464 | +€1,064 | +267% |
| Profit (loss) for the period before taxes | 9903 | €112,266 | €69,733 | -€42,534 | -37.9% |
| Income taxes | 67/77 | €41,978 | €25,891 | -€16,087 | -38.3% |
| Profit (loss) for the period | 9904 | €70,288 | €43,842 | -€26,447 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,288 | €43,842 | -€26,447 | -37.6% |
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 15 October 2026 via checked.be.