VERMEBO: 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.
VERMEBO
Largest movements
- Cash +€251,417
up €251,417 (+427%), from €58,949 to €310,366
mainly Investment in fixed assets (net) (+€158,507) and Net result for the year (+€93,170)
- Tangible fixed assets -€214,261
down €214,261 (-17.4%), from €1.2m to €1.0m
of which Land and buildings: -€206,136
- Reserves +€93,170
up €93,170 (+11.5%), from €812,025 to €905,196
of which Tax-exempt reserves: +€49,927
- Other debts -€57,819
down €57,819 (-39.6%), from €146,137 to €88,319
- Debts after one year -€50,671
down €50,671 (-24.7%), from €205,489 to €154,817
- Provisions +€22,125
up €22,125 (+29.6%), from €74,787 to €96,912
of which Provisions for liabilities and charges: +€40,151
- Tax, wage and social debts +€21,640
up €21,640, from €0 to €21,640
- Gross operating margin +€123,450
up €123,450 (+147%), from €84,093 to €207,543
- Taxes +€12,979
up €12,979 (+150%), from €8,661 to €21,640
- Depreciation -€3,341
down €3,341 (-5.7%), from €59,095 to €55,754
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 | €1,414,765 | €1,444,286 | +€29,521 | +2.1% |
| Fixed assets | 21/28 | €1,234,345 | €1,020,084 | -€214,261 | -17.4% |
| Tangible fixed assets | 22/27 | €1,234,345 | €1,020,084 | -€214,261 | -17.4% |
| Land and buildings | 22 | €1,113,138 | €907,002 | -€206,136 | -18.5% |
| Other tangible fixed assets | 26 | €121,207 | €113,082 | -€8,125 | -6.7% |
| Current assets | 29/58 | €180,420 | €424,202 | +€243,781 | +135% |
| Amounts receivable within one year | 40/41 | €116,770 | €111,340 | -€5,431 | -4.7% |
| Other amounts receivable | 41 | €116,770 | €111,340 | -€5,431 | -4.7% |
| Cash at bank and in hand | 54/58 | €58,949 | €310,366 | +€251,417 | +427% |
| Deferred charges and accrued income | 490/1 | €4,701 | €2,497 | -€2,205 | -46.9% |
| Total equity and liabilities | 10/49 | €1,414,765 | €1,444,286 | +€29,521 | +2.1% |
| Equity | 10/15 | €936,744 | €1,029,914 | +€93,170 | +9.9% |
| Contributions | 10/11 | €124,718 | €124,718 | = | 0.0% |
| Capital | 10 | €124,718 | €124,718 | = | 0.0% |
| Issued capital | 100 | €124,718 | €124,718 | = | 0.0% |
| Reserves | 13 | €812,025 | €905,196 | +€93,170 | +11.5% |
| Non-distributable reserves | 130/1 | €13,637 | €13,637 | = | 0.0% |
| Legal reserve | 130 | €13,637 | €13,637 | = | 0.0% |
| Tax-exempt reserves | 132 | €261,030 | €310,958 | +€49,927 | +19.1% |
| Distributable reserves | 133 | €537,358 | €580,601 | +€43,243 | +8.0% |
| Provisions and deferred taxes | 16 | €74,787 | €96,912 | +€22,125 | +29.6% |
| Provisions for liabilities and charges | 160/5 | - | €40,151 | +€40,151 | |
| Environmental obligations | 163 | - | €40,151 | +€40,151 | |
| Deferred taxes | 168 | €74,787 | €56,762 | -€18,026 | -24.1% |
| Amounts payable | 17/49 | €403,234 | €317,460 | -€85,774 | -21.3% |
| Amounts payable after more than one year | 17 | €205,489 | €154,817 | -€50,671 | -24.7% |
| Financial debts | 170/4 | €205,489 | €154,817 | -€50,671 | -24.7% |
| Amounts payable within one year | 42/48 | €197,745 | €162,642 | -€35,103 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €50,211 | €50,671 | +€460 | +0.9% |
| Trade debts | 44 | €1,397 | €2,013 | +€616 | +44.1% |
| Suppliers | 440/4 | €1,397 | €2,013 | +€616 | +44.1% |
| Taxes, remuneration and social security | 45 | €0 | €21,640 | +€21,640 | |
| Taxes | 450/3 | €0 | €21,640 | +€21,640 | |
| Other amounts payable | 47/48 | €146,137 | €88,319 | -€57,819 | -39.6% |
| Non-recurring operating income | 76A | - | €160,603 | +€160,603 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,095 | €55,754 | -€3,341 | -5.7% |
| Other operating charges | 640/8 | €11,926 | €12,084 | +€158 | +1.3% |
| Gross operating margin | 9900 | €84,093 | €207,543 | +€123,450 | +147% |
| Operating profit (loss) | 9901 | €13,072 | €139,705 | +€126,633 | +969% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €2,774 | €2,784 | +€10 | +0.3% |
| Recurring financial charges | 65 | €2,774 | €2,784 | +€10 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €10,298 | €136,935 | +€126,637 | +1,230% |
| Transfer from deferred taxes | 780 | €3,816 | €18,026 | +€14,210 | +372% |
| Transfer to deferred taxes | 680 | - | €40,151 | +€40,151 | |
| Income taxes | 67/77 | €8,661 | €21,640 | +€12,979 | +150% |
| Profit (loss) for the period | 9904 | €5,453 | €93,170 | +€87,717 | +1,608% |
| Transfer from tax-exempt reserves | 789 | €13,105 | €70,525 | +€57,420 | +438% |
| Transfer to tax-exempt reserves | 689 | - | €120,452 | +€120,452 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,558 | €43,243 | +€24,685 | +133% |
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 20 October 2026 via checked.be.