VERMAR: 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.
VERMAR
Largest movements
- Tangible fixed assets -€10,080
down €10,080 (-3.8%), from €264,466 to €254,386
of which Land and buildings: -€7,905
- Receivables within one year -€3,650
down €3,650 (-25.1%), from €14,532 to €10,882
- Other debts -€9,090
down €9,090 (-7.3%), from €124,187 to €115,097
- Debts after one year -€8,771
down €8,771 (-18.2%), from €48,173 to €39,402
- Profit (loss) carried forward +€6,182
up €6,182 (+14.8%), from €41,866 to €48,048
- Short-term financial debts +€5,910
up €5,910 (+164.8%), from €3,587 to €9,497
- Current portion of long-term debt -€5,652
down €5,652 (-14.8%), from €38,226 to €32,574
- Turnover -€11,717
down €11,717 (-22.7%), from €51,592 to €39,875
- Depreciation -€9,589
down €9,589 (-48.8%), from €19,669 to €10,080
- Gross operating margin -€6,435
down €6,435 (-20.1%), from €32,062 to €25,627
- Purchases and services +€6,097
up €6,097 (+31.2%), from €19,530 to €25,627
- Other operating charges -€4,283
down €4,283 (-56.8%), from €7,539 to €3,256
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,298 | €265,568 | -€13,730 | -4.9% |
| Fixed assets | 21/28 | €264,766 | €254,686 | -€10,080 | -3.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €264,466 | €254,386 | -€10,080 | -3.8% |
| Land and buildings | 22 | €257,085 | €249,180 | -€7,905 | -3.1% |
| Plant, machinery and equipment | 23 | €6,780 | €5,085 | -€1,695 | -25.0% |
| Furniture and vehicles | 24 | €601 | €121 | -€480 | -79.9% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €14,532 | €10,882 | -€3,650 | -25.1% |
| Amounts receivable within one year | 40/41 | €14,532 | €10,882 | -€3,650 | -25.1% |
| Trade receivables | 40 | €14,532 | €10,882 | -€3,650 | -25.1% |
| Total equity and liabilities | 10/49 | €279,298 | €265,568 | -€13,730 | -4.9% |
| Equity | 10/15 | €50,027 | €56,209 | +€6,182 | +12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,961 | €1,961 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,961 | €1,961 | = | 0.0% |
| Legal reserve | 130 | €1,961 | €1,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,866 | €48,048 | +€6,182 | +14.8% |
| Amounts payable | 17/49 | €229,271 | €209,359 | -€19,912 | -8.7% |
| Amounts payable after more than one year | 17 | €48,173 | €39,402 | -€8,771 | -18.2% |
| Financial debts | 170/4 | €48,173 | €39,402 | -€8,771 | -18.2% |
| Amounts payable within one year | 42/48 | €181,098 | €169,957 | -€11,141 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €38,226 | €32,574 | -€5,652 | -14.8% |
| Financial debts | 43 | €3,587 | €9,497 | +€5,910 | +164.8% |
| Credit institutions | 430/8 | €3,587 | €9,497 | +€5,910 | +164.8% |
| Trade debts | 44 | €15,085 | €12,502 | -€2,583 | -17.1% |
| Suppliers | 440/4 | €15,085 | €12,502 | -€2,583 | -17.1% |
| Taxes, remuneration and social security | 45 | €13 | €287 | +€274 | +2107.7% |
| Taxes | 450/3 | €13 | €287 | +€274 | +2107.7% |
| Other amounts payable | 47/48 | €124,187 | €115,097 | -€9,090 | -7.3% |
| Turnover | 70 | €51,592 | €39,875 | -€11,717 | -22.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €19,530 | €25,627 | +€6,097 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,669 | €10,080 | -€9,589 | -48.8% |
| Other operating charges | 640/8 | €7,539 | €3,256 | -€4,283 | -56.8% |
| Gross operating margin | 9900 | €32,062 | €25,627 | -€6,435 | -20.1% |
| Operating profit (loss) | 9901 | €4,854 | €12,291 | +€7,437 | +153.2% |
| Financial charges | 65/66B | €1,478 | €4,907 | +€3,429 | +232.0% |
| Recurring financial charges | 65 | €982 | €4,641 | +€3,659 | +372.6% |
| Non-recurring financial charges | 66B | €496 | €266 | -€230 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | €3,376 | €7,384 | +€4,008 | +118.7% |
| Income taxes | 67/77 | €2,594 | €1,202 | -€1,392 | -53.7% |
| Profit (loss) for the period | 9904 | €782 | €6,182 | +€5,400 | +690.5% |
| Profit (loss) for the period to be appropriated | 9905 | €782 | €6,182 | +€5,400 | +690.5% |
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 28 September 2026 via checked.be.