Vermanic: what changed
Two fiscal 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.
Vermanic
Largest movements
- Tangible fixed assets +€149,228
up €149,228 (+3.4%), from €4.4m to €4.6m
of which Land and buildings: +€150,686
- Cash +€111,114
up €111,114 (+119.0%), from €93,361 to €204,474
mainly Debts after one year (+€155,000) and Depreciation (+€85,981)
- Debts after one year +€155,000
up €155,000 (+22.6%), from €685,725 to €840,725
of which Financial debts: +€150,000
- Trade debts +€66,649
up €66,649 (+20029.8%), from €333 to €66,982
- Depreciation +€7,706
up €7,706 (+9.8%), from €78,275 to €85,981
- Gross operating margin -€6,256
down €6,256 (-4.0%), from €156,518 to €150,262
- Financial charges +€4,723
up €4,723 (+859.0%), from €550 to €5,273
- Other operating charges -€3,499
down €3,499 (-14.1%), from €24,768 to €21,269
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 | €4,524,724 | €4,786,191 | +€261,467 | +5.8% |
| Fixed assets | 21/28 | €4,430,639 | €4,579,867 | +€149,228 | +3.4% |
| Tangible fixed assets | 22/27 | €4,430,639 | €4,579,867 | +€149,228 | +3.4% |
| Land and buildings | 22 | €4,429,180 | €4,579,867 | +€150,686 | +3.4% |
| Furniture and vehicles | 24 | €1,459 | €0 | -€1,459 | -100.0% |
| Current assets | 29/58 | €94,086 | €206,325 | +€112,239 | +119.3% |
| Amounts receivable within one year | 40/41 | - | €1,851 | +€1,851 | |
| Trade receivables | 40 | - | €1,500 | +€1,500 | |
| Other amounts receivable | 41 | - | €351 | +€351 | |
| Cash at bank and in hand | 54/58 | €93,361 | €204,474 | +€111,114 | +119.0% |
| Deferred charges and accrued income | 490/1 | €725 | €0 | -€725 | -100.0% |
| Total equity and liabilities | 10/49 | €4,524,724 | €4,786,191 | +€261,467 | +5.8% |
| Equity | 10/15 | €3,824,012 | €3,863,015 | +€39,003 | +1.0% |
| Contributions | 10/11 | €1,043,000 | €1,043,000 | = | 0.0% |
| Capital | 10 | €1,043,000 | €1,043,000 | = | 0.0% |
| Issued capital | 100 | €1,043,000 | €1,043,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,770,253 | €2,770,253 | = | 0.0% |
| Reserves | 13 | €10,759 | €49,762 | +€39,003 | +362.5% |
| Non-distributable reserves | 130/1 | €10,430 | €12,430 | +€2,000 | +19.2% |
| Legal reserve | 130 | €10,430 | €12,430 | +€2,000 | +19.2% |
| Distributable reserves | 133 | €329 | €37,332 | +€37,003 | +11254.8% |
| Amounts payable | 17/49 | €700,713 | €923,176 | +€222,464 | +31.7% |
| Amounts payable after more than one year | 17 | €685,725 | €840,725 | +€155,000 | +22.6% |
| Financial debts | 170/4 | €685,000 | €835,000 | +€150,000 | +21.9% |
| Other amounts payable | 178/9 | €725 | €5,725 | +€5,000 | +689.7% |
| Amounts payable within one year | 42/48 | €11,025 | €78,812 | +€67,787 | +614.8% |
| Trade debts | 44 | €333 | €66,982 | +€66,649 | +20029.8% |
| Suppliers | 440/4 | €333 | €66,982 | +€66,649 | +20029.8% |
| Taxes, remuneration and social security | 45 | €77 | €77 | = | 0.0% |
| Taxes | 450/3 | €77 | €77 | = | 0.0% |
| Other amounts payable | 47/48 | €10,615 | €11,754 | +€1,138 | +10.7% |
| Accrued charges and deferred income | 492/3 | €3,963 | €3,639 | -€324 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,275 | €85,981 | +€7,706 | +9.8% |
| Other operating charges | 640/8 | €24,768 | €21,269 | -€3,499 | -14.1% |
| Non-recurring operating charges | 66A | €102,311 | €0 | -€102,311 | -100.0% |
| Gross operating margin | 9900 | €156,518 | €150,262 | -€6,256 | -4.0% |
| Operating profit (loss) | 9901 | -€48,837 | €43,012 | +€91,848 | |
| Financial income | 75/76B | €298 | €1,305 | +€1,007 | +337.9% |
| Recurring financial income | 75 | €298 | €1,305 | +€1,007 | +337.9% |
| Financial charges | 65/66B | €550 | €5,273 | +€4,723 | +859.0% |
| Recurring financial charges | 65 | €550 | €5,273 | +€4,723 | +859.0% |
| Profit (loss) for the period before taxes | 9903 | -€49,089 | €39,044 | +€88,133 | |
| Income taxes | 67/77 | €166 | €41 | -€126 | -75.5% |
| Profit (loss) for the period | 9904 | -€49,255 | €39,003 | +€88,258 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,255 | €39,003 | +€88,258 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.