VERMEERSCH CONSTRUCT: what changed
Two fiscal 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.
VERMEERSCH CONSTRUCT
Largest movements
- Receivables within one year +€99,443
up €99,443 (+97.0%), from €102,468 to €201,910
of which Other amounts receivable: +€69,294
- Tangible fixed assets -€9,854
down €9,854 (-23.3%), from €42,355 to €32,501
of which Furniture and vehicles: -€9,366
- Other debts +€67,015
new in 2025: €67,015
- Tax, wage and social debts +€13,976
up €13,976 (+458.2%), from €3,050 to €17,026
of which Taxes: +€7,394
- Reserves +€10,481
up €10,481 (+3.3%), from €314,015 to €324,496
- Staff costs +€13,099
up €13,099 (+9.0%), from €146,042 to €159,141
- Gross operating margin -€6,380
down €6,380 (-2.2%), from €294,954 to €288,574
- Taxes -€6,321
down €6,321 (-14.3%), from €44,062 to €37,741
- Depreciation +€3,634
up €3,634 (+58.4%), from €6,220 to €9,854
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 | €354,709 | €448,398 | +€93,689 | +26.4% |
| Fixed assets | 21/28 | €42,355 | €32,501 | -€9,854 | -23.3% |
| Tangible fixed assets | 22/27 | €42,355 | €32,501 | -€9,854 | -23.3% |
| Plant, machinery and equipment | 23 | €1,255 | €767 | -€488 | -38.9% |
| Furniture and vehicles | 24 | €41,099 | €31,733 | -€9,366 | -22.8% |
| Current assets | 29/58 | €312,355 | €415,898 | +€103,543 | +33.1% |
| Amounts receivable within one year | 40/41 | €102,468 | €201,910 | +€99,443 | +97.0% |
| Trade receivables | 40 | €38,023 | €68,171 | +€30,148 | +79.3% |
| Other amounts receivable | 41 | €64,445 | €133,739 | +€69,294 | +107.5% |
| Cash at bank and in hand | 54/58 | €209,887 | €213,988 | +€4,101 | +2.0% |
| Total equity and liabilities | 10/49 | €354,709 | €448,398 | +€93,689 | +26.4% |
| Equity | 10/15 | €320,215 | €330,696 | +€10,481 | +3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €314,015 | €324,496 | +€10,481 | +3.3% |
| Distributable reserves | 133 | €314,015 | €324,496 | +€10,481 | +3.3% |
| Amounts payable | 17/49 | €34,494 | €117,703 | +€83,208 | +241.2% |
| Amounts payable after more than one year | 17 | €14,096 | €10,169 | -€3,927 | -27.9% |
| Financial debts | 170/4 | €14,096 | €10,169 | -€3,927 | -27.9% |
| Amounts payable within one year | 42/48 | €20,399 | €104,636 | +€84,237 | +413.0% |
| Current portion of amounts payable after more than one year | 42 | €7,773 | €10,594 | +€2,821 | +36.3% |
| Trade debts | 44 | €9,576 | €10,001 | +€425 | +4.4% |
| Suppliers | 440/4 | €9,576 | €10,001 | +€425 | +4.4% |
| Taxes, remuneration and social security | 45 | €3,050 | €17,026 | +€13,976 | +458.2% |
| Taxes | 450/3 | - | €7,394 | +€7,394 | |
| Remuneration and social security | 454/9 | €3,050 | €9,631 | +€6,581 | +215.8% |
| Other amounts payable | 47/48 | - | €67,015 | +€67,015 | |
| Accrued charges and deferred income | 492/3 | - | €2,898 | +€2,898 | |
| Remuneration, social security and pensions | 62 | €146,042 | €159,141 | +€13,099 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,220 | €9,854 | +€3,634 | +58.4% |
| Other operating charges | 640/8 | €305 | €2,583 | +€2,278 | +745.9% |
| Gross operating margin | 9900 | €294,954 | €288,574 | -€6,380 | -2.2% |
| Operating profit (loss) | 9901 | €142,386 | €116,995 | -€25,391 | -17.8% |
| Financial income | 75/76B | €3,889 | €4,552 | +€663 | +17.1% |
| Recurring financial income | 75 | €3,889 | €4,552 | +€663 | +17.1% |
| Financial charges | 65/66B | €1,342 | €1,651 | +€309 | +23.0% |
| Recurring financial charges | 65 | €1,342 | €1,651 | +€309 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €144,933 | €119,896 | -€25,037 | -17.3% |
| Income taxes | 67/77 | €44,062 | €37,741 | -€6,321 | -14.3% |
| Profit (loss) for the period | 9904 | €100,870 | €82,155 | -€18,716 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,870 | €82,155 | -€18,716 | -18.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.