VERMCOTECH: 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.
VERMCOTECH
Largest movements
- Tangible fixed assets +€259,910
up €259,910 (+39.0%), from €665,788 to €925,699
of which Furniture and vehicles: +€244,083
- Receivables within one year -€53,415
down €53,415 (-17.6%), from €302,831 to €249,416
of which Trade receivables: -€62,496
- Cash -€24,456
down €24,456 (-42.4%), from €57,698 to €33,243
mainly Investment in fixed assets (net) (-€346,142) and Contributions, distributions and other (-€55,900)
- Debts after one year +€169,793
up €169,793 (+29.7%), from €571,850 to €741,642
- Other debts +€57,353
up €57,353 (+1712.6%), from €3,349 to €60,702
- Current portion of long-term debt +€39,289
up €39,289 (+116.2%), from €33,821 to €73,111
- Tax, wage and social debts -€35,419
down €35,419 (-46.2%), from €76,737 to €41,318
of which Taxes: -€39,216
- Trade debts -€32,046
down €32,046 (-27.0%), from €118,656 to €86,610
- Gross operating margin +€51,602
up €51,602 (+18.0%), from €287,185 to €338,787
- Taxes +€12,041
up €12,041 (+146.5%), from €8,219 to €20,261
- Staff costs -€10,002
down €10,002 (-6.3%), from €159,007 to €149,004
- Financial charges +€8,606
up €8,606 (+42.2%), from €20,411 to €29,018
- Depreciation +€5,707
up €5,707 (+7.1%), from €80,524 to €86,231
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 | €1,042,454 | €1,229,300 | +€186,846 | +17.9% |
| Fixed assets | 21/28 | €668,380 | €928,291 | +€259,910 | +38.9% |
| Tangible fixed assets | 22/27 | €665,788 | €925,699 | +€259,910 | +39.0% |
| Land and buildings | 22 | €617,678 | €597,356 | -€20,322 | -3.3% |
| Plant, machinery and equipment | 23 | €368 | €41,204 | +€40,836 | +11087.6% |
| Furniture and vehicles | 24 | €35,975 | €280,058 | +€244,083 | +678.5% |
| Leasing and similar rights | 25 | €3,633 | €0 | -€3,633 | -100.0% |
| Other tangible fixed assets | 26 | €8,134 | €7,080 | -€1,053 | -13.0% |
| Financial fixed assets | 28 | €2,592 | €2,592 | = | 0.0% |
| Current assets | 29/58 | €374,073 | €301,009 | -€73,064 | -19.5% |
| Amounts receivable within one year | 40/41 | €302,831 | €249,416 | -€53,415 | -17.6% |
| Trade receivables | 40 | €297,172 | €234,676 | -€62,496 | -21.0% |
| Other amounts receivable | 41 | €5,659 | €14,739 | +€9,081 | +160.5% |
| Cash at bank and in hand | 54/58 | €57,698 | €33,243 | -€24,456 | -42.4% |
| Deferred charges and accrued income | 490/1 | €13,544 | €18,351 | +€4,807 | +35.5% |
| Total equity and liabilities | 10/49 | €1,042,454 | €1,229,300 | +€186,846 | +17.9% |
| Equity | 10/15 | €225,499 | €214,493 | -€11,006 | -4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €206,899 | €195,893 | -€11,006 | -5.3% |
| Distributable reserves | 133 | €206,899 | €195,893 | -€11,006 | -5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €816,955 | €1,014,806 | +€197,852 | +24.2% |
| Amounts payable after more than one year | 17 | €571,850 | €741,642 | +€169,793 | +29.7% |
| Financial debts | 170/4 | €571,850 | €741,642 | +€169,793 | +29.7% |
| Amounts payable within one year | 42/48 | €232,563 | €261,740 | +€29,177 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €33,821 | €73,111 | +€39,289 | +116.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €118,656 | €86,610 | -€32,046 | -27.0% |
| Suppliers | 440/4 | €118,656 | €86,610 | -€32,046 | -27.0% |
| Taxes, remuneration and social security | 45 | €76,737 | €41,318 | -€35,419 | -46.2% |
| Taxes | 450/3 | €50,701 | €11,485 | -€39,216 | -77.3% |
| Remuneration and social security | 454/9 | €26,036 | €29,833 | +€3,797 | +14.6% |
| Other amounts payable | 47/48 | €3,349 | €60,702 | +€57,353 | +1712.6% |
| Accrued charges and deferred income | 492/3 | €12,542 | €11,424 | -€1,118 | -8.9% |
| Remuneration, social security and pensions | 62 | €159,007 | €149,004 | -€10,002 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,524 | €86,231 | +€5,707 | +7.1% |
| Other operating charges | 640/8 | €11,031 | €9,381 | -€1,650 | -15.0% |
| Gross operating margin | 9900 | €287,185 | €338,787 | +€51,602 | +18.0% |
| Operating profit (loss) | 9901 | €36,623 | €94,171 | +€57,548 | +157.1% |
| Financial income | 75/76B | €69 | €2 | -€67 | -96.6% |
| Recurring financial income | 75 | €69 | €2 | -€67 | -96.6% |
| Financial charges | 65/66B | €20,411 | €29,018 | +€8,606 | +42.2% |
| Recurring financial charges | 65 | €20,411 | €29,018 | +€8,606 | +42.2% |
| Profit (loss) for the period before taxes | 9903 | €16,281 | €65,155 | +€48,874 | +300.2% |
| Income taxes | 67/77 | €8,219 | €20,261 | +€12,041 | +146.5% |
| Profit (loss) for the period | 9904 | €8,062 | €44,894 | +€36,833 | +456.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,062 | €44,894 | +€36,833 | +456.9% |
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 12 October 2026 via checked.be.