VERMEER HORECA: what changed
VERMEER HORECA
Largest movements
- Tangible fixed assets +€50,407
up €50,407 (+177%), from €28,538 to €78,945
of which Land and buildings: +€52,930
- Cash -€6,170
down €6,170 (-39.9%), from €15,483 to €9,313
mainly Investment in fixed assets (net) (-€59,749) and Net result for the year (-€5,651)
- Deferred charges and accrued income +€4,165
new in 2025: €4,165
- Receivables within one year +€1,878
up €1,878 (+13.3%), from €14,163 to €16,042
- Stocks and contracts +€1,353
up €1,353 (+17.1%), from €7,898 to €9,251
- Debts after one year +€36,961
up €36,961 (+291%), from €12,707 to €49,668
- Current portion of long-term debt +€7,962
up €7,962 (+104%), from €7,674 to €15,636
- Tax, wage and social debts +€7,769
up €7,769 (+51.2%), from €15,163 to €22,932
of which Taxes: +€4,224
- Profit (loss) carried forward -€5,651
down €5,651 (-14.4%), from -€39,273 to -€44,924
- Trade debts +€4,592
up €4,592 (+102%), from €4,511 to €9,103
- Staff costs +€32,687
up €32,687 (+19.8%), from €165,369 to €198,056
- Gross operating margin +€8,580
up €8,580 (+4.3%), from €198,198 to €206,779
- Financial charges +€2,831
up €2,831 (+97.5%), from €2,905 to €5,737
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €66,722 | €118,354 | +€51,632 | +77.4% |
| Fixed assets | 21/28 | €29,178 | €79,585 | +€50,407 | +173% |
| Tangible fixed assets | 22/27 | €28,538 | €78,945 | +€50,407 | +177% |
| Land and buildings | 22 | €12,660 | €65,590 | +€52,930 | +418% |
| Plant, machinery and equipment | 23 | €13,126 | €11,046 | -€2,080 | -15.8% |
| Furniture and vehicles | 24 | €2,752 | €2,308 | -€444 | -16.1% |
| Financial fixed assets | 28 | €640 | €640 | = | 0.0% |
| Current assets | 29/58 | €37,544 | €38,769 | +€1,226 | +3.3% |
| Stocks and contracts in progress | 3 | €7,898 | €9,251 | +€1,353 | +17.1% |
| Stocks | 30/36 | €7,898 | €9,251 | +€1,353 | +17.1% |
| Amounts receivable within one year | 40/41 | €14,163 | €16,042 | +€1,878 | +13.3% |
| Other amounts receivable | 41 | €14,163 | €16,042 | +€1,878 | +13.3% |
| Cash at bank and in hand | 54/58 | €15,483 | €9,313 | -€6,170 | -39.9% |
| Deferred charges and accrued income | 490/1 | - | €4,165 | +€4,165 | |
| Total equity and liabilities | 10/49 | €66,722 | €118,354 | +€51,632 | +77.4% |
| Equity | 10/15 | €26,666 | €21,015 | -€5,651 | -21.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €47,389 | €47,389 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,534 | €45,534 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,273 | -€44,924 | -€5,651 | -14.4% |
| Amounts payable | 17/49 | €40,056 | €97,339 | +€57,283 | +143% |
| Amounts payable after more than one year | 17 | €12,707 | €49,668 | +€36,961 | +291% |
| Financial debts | 170/4 | €12,707 | €49,668 | +€36,961 | +291% |
| Amounts payable within one year | 42/48 | €27,348 | €47,670 | +€20,322 | +74.3% |
| Current portion of amounts payable after more than one year | 42 | €7,674 | €15,636 | +€7,962 | +104% |
| Trade debts | 44 | €4,511 | €9,103 | +€4,592 | +102% |
| Suppliers | 440/4 | €4,511 | €9,103 | +€4,592 | +102% |
| Taxes, remuneration and social security | 45 | €15,163 | €22,932 | +€7,769 | +51.2% |
| Taxes | 450/3 | €4,697 | €8,921 | +€4,224 | +89.9% |
| Remuneration and social security | 454/9 | €10,466 | €14,010 | +€3,544 | +33.9% |
| Remuneration, social security and pensions | 62 | €165,369 | €198,056 | +€32,687 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,308 | €9,342 | +€2,034 | +27.8% |
| Other operating charges | 640/8 | €118 | €173 | +€55 | +46.6% |
| Gross operating margin | 9900 | €198,198 | €206,779 | +€8,580 | +4.3% |
| Operating profit (loss) | 9901 | €25,404 | -€792 | -€26,196 | |
| Financial income | 75/76B | €429 | €878 | +€449 | +105% |
| Recurring financial income | 75 | €429 | €878 | +€449 | +105% |
| Financial charges | 65/66B | €2,905 | €5,737 | +€2,831 | +97.5% |
| Recurring financial charges | 65 | €2,905 | €5,737 | +€2,831 | +97.5% |
| Profit (loss) for the period before taxes | 9903 | €22,928 | -€5,651 | -€28,578 | |
| Income taxes | 67/77 | €164 | - | -€164 | |
| Profit (loss) for the period | 9904 | €22,764 | -€5,651 | -€28,415 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,764 | -€5,651 | -€28,415 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.