VERMEERSCH: what changed
What changed
VERMEERSCH
NACE 46.341, Wholesale of wines and spirits
filed annual accounts (NBB)
Net result for the year
-€45,792
2024 · -€4,833-€40,958
Equity
€471,697
2024 · €517,489-€45,792
Cash
€100,243
2024 · €148,605-€48,361
Balance sheet total
€2.0m
2024 · €2.2m-€222,793
Largest movements
Assets
- Stocks and contracts -€129,971
down €129,971 (-11.6%), from €1.1m to €992,821
- Tangible fixed assets -€69,555
down €69,555 (-18.2%), from €381,405 to €311,850
- Cash -€48,361
down €48,361 (-32.5%), from €148,605 to €100,243
mainly Debts after one year (-€113,421) and Net result for the year (-€45,792)
- Receivables within one year +€27,832
up €27,832 (+4.9%), from €565,576 to €593,408
of which Trade receivables: +€78,078
Equity and liabilities
- Debts after one year -€113,421
down €113,421 (-18.3%), from €621,220 to €507,799
- Profit (loss) carried forward -€45,792
down €45,792 (-23.5%), from €194,648 to €148,856
- Other debts -€42,022
down €42,022 (-12.6%), from €332,221 to €290,199
- Trade debts -€40,552
down €40,552 (-5.6%), from €726,893 to €686,341
Income statement
- Gross operating margin -€46,427
down €46,427 (-38.2%), from €121,534 to €75,106
- Depreciation +€7,177
up €7,177 (+9.5%), from €75,587 to €82,765
- Staff costs -€6,278
down €6,278 (-40.1%), from €15,638 to €9,361
- Financial charges -€2,742
down €2,742 (-9.8%), from €27,945 to €25,203
- Taxes -€1,583
down €1,583 (-87.7%), from €1,805 to €222
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.
Result 2024
-€4,833
Gross operating margin
-€46,427
Staff costs
+€6,278
Depreciation
-€7,177
Other operating charges
+€1,063
Other operating items
+€230
Financial income
+€751
Financial charges
+€2,742
Taxes
+€1,583
Result 2025
-€45,792
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€57,246
Investment
-€13,225
Financing
-€92,382
Cash 2024
€148,605
From operations (derived)
+€57,246
Net result for the year
-€45,792
Depreciation
+€82,765
Stocks and contracts
+€129,971
Receivables within one year
-€27,832
Deferred charges and accrued income
+€2,753
Trade debts
-€40,552
Tax, wage and social debts
-€2,046
Other debts
-€42,022
Investment (derived)
-€13,225
Investment in fixed assets (net)
-€13,225
Financing
-€92,382
Debts after one year
-€113,421
Current portion of long-term debt
+€21,039
Cash 2025
€100,243
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,247,127 | €2,024,334 | -€222,793 | -9.9% |
| Fixed assets | 21/28 | €389,402 | €319,862 | -€69,539 | -17.9% |
| Intangible fixed assets | 21 | €4,030 | €4,030 | = | 0.0% |
| Tangible fixed assets | 22/27 | €381,405 | €311,850 | -€69,555 | -18.2% |
| Land and buildings | 22 | €83,771 | €77,033 | -€6,738 | -8.0% |
| Plant, machinery and equipment | 23 | €159,503 | €128,750 | -€30,753 | -19.3% |
| Furniture and vehicles | 24 | €90,729 | €61,587 | -€29,142 | -32.1% |
| Other tangible fixed assets | 26 | €47,403 | €44,481 | -€2,922 | -6.2% |
| Financial fixed assets | 28 | €3,967 | €3,982 | +€15 | +0.4% |
| Current assets | 29/58 | €1,857,726 | €1,704,472 | -€153,254 | -8.2% |
| Amounts receivable after more than one year | 29 | €18,000 | €18,000 | = | 0.0% |
| Other amounts receivable | 291 | €18,000 | €18,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,122,792 | €992,821 | -€129,971 | -11.6% |
| Stocks | 30/36 | €1,122,792 | €992,821 | -€129,971 | -11.6% |
| Amounts receivable within one year | 40/41 | €565,576 | €593,408 | +€27,832 | +4.9% |
| Trade receivables | 40 | €420,606 | €498,683 | +€78,078 | +18.6% |
| Other amounts receivable | 41 | €144,970 | €94,724 | -€50,246 | -34.7% |
| Cash at bank and in hand | 54/58 | €148,605 | €100,243 | -€48,361 | -32.5% |
| Deferred charges and accrued income | 490/1 | €2,753 | €0 | -€2,753 | -100% |
| Total equity and liabilities | 10/49 | €2,247,127 | €2,024,334 | -€222,793 | -9.9% |
| Equity | 10/15 | €517,489 | €471,697 | -€45,792 | -8.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €72,841 | €72,841 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,584 | €0 | -€2,584 | -100% |
| Reserves not available under the articles | 1311 | €2,584 | €0 | -€2,584 | -100% |
| Distributable reserves | 133 | €70,257 | €72,841 | +€2,584 | +3.7% |
| Profit (loss) carried forward | 14 | €194,648 | €148,856 | -€45,792 | -23.5% |
| Amounts payable | 17/49 | €1,729,638 | €1,552,637 | -€177,001 | -10.2% |
| Amounts payable after more than one year | 17 | €621,220 | €507,799 | -€113,421 | -18.3% |
| Financial debts | 170/4 | €621,220 | €507,799 | -€113,421 | -18.3% |
| Amounts payable within one year | 42/48 | €1,108,418 | €1,044,838 | -€63,580 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €3,552 | €24,591 | +€21,039 | +592% |
| Trade debts | 44 | €726,893 | €686,341 | -€40,552 | -5.6% |
| Suppliers | 440/4 | €726,893 | €686,341 | -€40,552 | -5.6% |
| Advances received on contracts in progress | 46 | €35,000 | €35,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,753 | €8,707 | -€2,046 | -19.0% |
| Taxes | 450/3 | €8,420 | €7,659 | -€761 | -9.0% |
| Remuneration and social security | 454/9 | €2,333 | €1,048 | -€1,285 | -55.1% |
| Other amounts payable | 47/48 | €332,221 | €290,199 | -€42,022 | -12.6% |
| Non-recurring operating income | 76A | €5,562 | - | -€5,562 | |
| Remuneration, social security and pensions | 62 | €15,638 | €9,361 | -€6,278 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,587 | €82,765 | +€7,177 | +9.5% |
| Other operating charges | 640/8 | €5,247 | €4,185 | -€1,063 | -20.3% |
| Non-recurring operating charges | 66A | €230 | - | -€230 | |
| Gross operating margin | 9900 | €121,534 | €75,106 | -€46,427 | -38.2% |
| Operating profit (loss) | 9901 | €24,831 | -€21,204 | -€46,035 | |
| Financial income | 75/76B | €86 | €837 | +€751 | +872% |
| Recurring financial income | 75 | €86 | €837 | +€751 | +872% |
| Financial charges | 65/66B | €27,945 | €25,203 | -€2,742 | -9.8% |
| Recurring financial charges | 65 | €27,945 | €25,203 | -€2,742 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,028 | -€45,570 | -€42,541 | -1,405% |
| Income taxes | 67/77 | €1,805 | €222 | -€1,583 | -87.7% |
| Profit (loss) for the period | 9904 | -€4,833 | -€45,792 | -€40,958 | -847% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,833 | -€45,792 | -€40,958 | -847% |
Next steps
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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 3 November 2026 via checked.be.