VERMASSEN PAUL: 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.
VERMASSEN PAUL
Largest movements
- Tangible fixed assets -€8,411
down €8,411 (-26.3%), from €31,927 to €23,516
of which Furniture and vehicles: -€5,862
- Receivables within one year -€5,324
down €5,324 (-9.7%), from €54,673 to €49,349
of which Other amounts receivable: -€3,515
- Cash -€1,932
down €1,932 (-100%), from €1,932 to €0
mainly Net result for the year (-€46,091) and Debts after one year (-€6,565)
- Profit (loss) carried forward -€46,091
down €46,091 (-85.1%), from -€54,170 to -€100,260
- Trade debts +€10,735
up €10,735 (+245%), from €4,390 to €15,125
- Other debts +€10,700
new in 2025: €10,700
- Short-term financial debts +€8,574
up €8,574 (+165%), from €5,209 to €13,783
- Debts after one year -€6,565
down €6,565 (-100%), from €6,565 to €0
- Gross operating margin +€9,861
up €9,861 (+23.4%), from -€42,185 to -€32,324
- Financial income -€1,319
down €1,319 (-56.1%), from €2,349 to €1,030
- Other operating charges -€1,123
down €1,123 (-24.9%), from €4,510 to €3,387
- Depreciation +€885
up €885 (+11.8%), from €7,526 to €8,411
- Financial charges +€800
up €800 (+36.4%), from €2,198 to €2,998
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 | €89,581 | €73,488 | -€16,093 | -18.0% |
| Fixed assets | 21/28 | €31,927 | €23,516 | -€8,411 | -26.3% |
| Tangible fixed assets | 22/27 | €31,927 | €23,516 | -€8,411 | -26.3% |
| Land and buildings | 22 | €5,780 | €5,780 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,993 | €3,443 | -€2,550 | -42.5% |
| Furniture and vehicles | 24 | €20,154 | €14,292 | -€5,862 | -29.1% |
| Current assets | 29/58 | €57,654 | €49,972 | -€7,682 | -13.3% |
| Amounts receivable within one year | 40/41 | €54,673 | €49,349 | -€5,324 | -9.7% |
| Trade receivables | 40 | €28,647 | €26,837 | -€1,810 | -6.3% |
| Other amounts receivable | 41 | €26,026 | €22,512 | -€3,515 | -13.5% |
| Cash at bank and in hand | 54/58 | €1,932 | €0 | -€1,932 | -100% |
| Deferred charges and accrued income | 490/1 | €1,049 | €623 | -€426 | -40.6% |
| Total equity and liabilities | 10/49 | €89,581 | €73,488 | -€16,093 | -18.0% |
| Equity | 10/15 | €57,709 | €11,618 | -€46,091 | -79.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €99,479 | €99,479 | = | 0.0% |
| Distributable reserves | 133 | €99,479 | €99,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,170 | -€100,260 | -€46,091 | -85.1% |
| Amounts payable | 17/49 | €31,872 | €61,870 | +€29,997 | +94.1% |
| Amounts payable after more than one year | 17 | €6,565 | €0 | -€6,565 | -100% |
| Financial debts | 170/4 | €6,565 | €0 | -€6,565 | -100% |
| Amounts payable within one year | 42/48 | €25,308 | €61,870 | +€36,562 | +144% |
| Current portion of amounts payable after more than one year | 42 | €15,071 | €20,848 | +€5,777 | +38.3% |
| Financial debts | 43 | €5,209 | €13,783 | +€8,574 | +165% |
| Credit institutions | 430/8 | €5,209 | €13,783 | +€8,574 | +165% |
| Trade debts | 44 | €4,390 | €15,125 | +€10,735 | +245% |
| Suppliers | 440/4 | €4,390 | €15,125 | +€10,735 | +245% |
| Taxes, remuneration and social security | 45 | €637 | €1,414 | +€776 | +122% |
| Taxes | 450/3 | €637 | €1,414 | +€776 | +122% |
| Other amounts payable | 47/48 | - | €10,700 | +€10,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,526 | €8,411 | +€885 | +11.8% |
| Other operating charges | 640/8 | €4,510 | €3,387 | -€1,123 | -24.9% |
| Non-recurring operating charges | 66A | €99 | €0 | -€99 | -100% |
| Gross operating margin | 9900 | -€42,185 | -€32,324 | +€9,861 | +23.4% |
| Operating profit (loss) | 9901 | -€54,321 | -€44,123 | +€10,198 | +18.8% |
| Financial income | 75/76B | €2,349 | €1,030 | -€1,319 | -56.1% |
| Recurring financial income | 75 | €2,349 | €1,030 | -€1,319 | -56.1% |
| Financial charges | 65/66B | €2,198 | €2,998 | +€800 | +36.4% |
| Recurring financial charges | 65 | €2,198 | €2,998 | +€800 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | -€54,170 | -€46,091 | +€8,079 | +14.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€54,170 | -€46,091 | +€8,079 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,170 | -€46,091 | +€8,079 | +14.9% |
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 25 October 2026 via checked.be.