VERMATHO: 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.
VERMATHO
Largest movements
- Current investments -€111,150
down €111,150 (-100%), from €111,150 to €0
- Receivables after one year +€75,000
new in 2025: €75,000
- Cash +€59,971
up €59,971 (+514,776%), from €12 to €59,983
mainly Current investments (+€111,150) and Net result for the year (+€63,633)
- Receivables within one year +€9,526
up €9,526 (+53.7%), from €17,728 to €27,254
of which Other amounts receivable: +€9,526
- Tangible fixed assets +€3,859
up €3,859 (+2.4%), from €159,921 to €163,780
of which Furniture and vehicles: +€10,774
- Reserves +€52,359
up €52,359 (+25.2%), from €208,028 to €260,387
of which Distributable reserves: +€52,359
- Current portion of long-term debt -€24,398
down €24,398 (-67.5%), from €36,170 to €11,772
- Debts after one year -€11,772
down €11,772 (-35.3%), from €33,355 to €21,583
- Profit (loss) carried forward +€11,273
up €11,273, from -€11,273 to €0
- Tax, wage and social debts +€10,104
up €10,104 (+162%), from €6,250 to €16,354
of which Taxes: +€9,754
- Financial income +€44,673
up €44,673 (+324%), from €13,779 to €58,452
- Gross operating margin +€39,707
up €39,707, from -€1,556 to €38,151
- Taxes +€10,027
up €10,027 (+2,111%), from €475 to €10,502
- Financial charges -€1,290
down €1,290 (-16.2%), from €7,946 to €6,656
- Other operating charges +€654
up €654 (+21.2%), from €3,087 to €3,740
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 | €296,966 | €333,613 | +€36,648 | +12.3% |
| Fixed assets | 21/28 | €163,921 | €167,780 | +€3,859 | +2.4% |
| Tangible fixed assets | 22/27 | €159,921 | €163,780 | +€3,859 | +2.4% |
| Land and buildings | 22 | €139,534 | €133,554 | -€5,980 | -4.3% |
| Plant, machinery and equipment | 23 | €2,018 | €1,083 | -€935 | -46.3% |
| Furniture and vehicles | 24 | €16,569 | €27,343 | +€10,774 | +65.0% |
| Other tangible fixed assets | 26 | €1,800 | €1,800 | = | 0.0% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €133,045 | €165,834 | +€32,789 | +24.6% |
| Amounts receivable after more than one year | 29 | - | €75,000 | +€75,000 | |
| Other amounts receivable | 291 | - | €75,000 | +€75,000 | |
| Amounts receivable within one year | 40/41 | €17,728 | €27,254 | +€9,526 | +53.7% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €17,728 | €27,254 | +€9,526 | +53.7% |
| Current investments | 50/53 | €111,150 | €0 | -€111,150 | -100% |
| Cash at bank and in hand | 54/58 | €12 | €59,983 | +€59,971 | +514,776% |
| Deferred charges and accrued income | 490/1 | €4,156 | €3,597 | -€559 | -13.5% |
| Total equity and liabilities | 10/49 | €296,966 | €333,613 | +€36,648 | +12.3% |
| Equity | 10/15 | €217,104 | €280,737 | +€63,633 | +29.3% |
| Contributions | 10/11 | €20,350 | €20,350 | = | 0.0% |
| Contributions outside capital | 11 | €20,350 | - | -€20,350 | |
| Other | 1109/19 | €20,350 | - | -€20,350 | |
| Reserves | 13 | €208,028 | €260,387 | +€52,359 | +25.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €208,028 | €260,387 | +€52,359 | +25.2% |
| Profit (loss) carried forward | 14 | -€11,273 | €0 | +€11,273 | |
| Amounts payable | 17/49 | €79,862 | €52,876 | -€26,985 | -33.8% |
| Amounts payable after more than one year | 17 | €33,355 | €21,583 | -€11,772 | -35.3% |
| Financial debts | 170/4 | €33,355 | €21,583 | -€11,772 | -35.3% |
| Amounts payable within one year | 42/48 | €46,346 | €30,788 | -€15,558 | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €36,170 | €11,772 | -€24,398 | -67.5% |
| Financial debts | 43 | €238 | €0 | -€238 | -100% |
| Credit institutions | 430/8 | €238 | €0 | -€238 | -100% |
| Trade debts | 44 | €3,687 | €2,661 | -€1,025 | -27.8% |
| Suppliers | 440/4 | €3,687 | €2,661 | -€1,025 | -27.8% |
| Taxes, remuneration and social security | 45 | €6,250 | €16,354 | +€10,104 | +162% |
| Taxes | 450/3 | €6,250 | €16,004 | +€9,754 | +156% |
| Remuneration and social security | 454/9 | €0 | €350 | +€350 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €161 | €506 | +€345 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,797 | €12,073 | +€276 | +2.3% |
| Other operating charges | 640/8 | €3,087 | €3,740 | +€654 | +21.2% |
| Non-recurring operating charges | 66A | €192 | - | -€192 | |
| Gross operating margin | 9900 | -€1,556 | €38,151 | +€39,707 | |
| Operating profit (loss) | 9901 | -€16,632 | €22,338 | +€38,970 | |
| Financial income | 75/76B | €13,779 | €58,452 | +€44,673 | +324% |
| Recurring financial income | 75 | €13,779 | €58,452 | +€44,673 | +324% |
| Financial charges | 65/66B | €7,946 | €6,656 | -€1,290 | -16.2% |
| Recurring financial charges | 65 | €7,946 | €6,656 | -€1,290 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,798 | €74,135 | +€84,933 | |
| Income taxes | 67/77 | €475 | €10,502 | +€10,027 | +2,111% |
| Profit (loss) for the period | 9904 | -€11,273 | €63,633 | +€74,906 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,273 | €63,633 | +€74,906 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.