Vermeersch Projects: 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.
Vermeersch Projects
Largest movements
- Receivables within one year -€19,035
no longer reported in 2025 (was €19,035)
- Cash -€1,465
down €1,465 (-58.4%), from €2,509 to €1,044
mainly Net result for the year (-€27,341) and Debts after one year (-€14,430)
- Tangible fixed assets +€935
up €935 (+2.3%), from €40,186 to €41,121
of which Plant, machinery and equipment: +€734
- Reserves -€27,341
down €27,341 (-64.9%), from €42,151 to €14,809
- Other debts +€20,163
up €20,163 (+1344.2%), from €1,500 to €21,663
- Debts after one year -€14,430
no longer reported in 2025 (was €14,430)
- Trade debts +€1,041
up €1,041 (+143.8%), from €724 to €1,764
- Gross operating margin -€84,672
down €84,672, from €64,231 to -€20,441
- Taxes -€16,264
no longer reported in 2025 (was €16,264)
- Financial income -€757
down €757 (-93.1%), from €813 to €56
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 | €80,068 | €59,954 | -€20,114 | -25.1% |
| Fixed assets | 21/28 | €40,186 | €41,121 | +€935 | +2.3% |
| Tangible fixed assets | 22/27 | €40,186 | €41,121 | +€935 | +2.3% |
| Plant, machinery and equipment | 23 | €3,554 | €4,289 | +€734 | +20.7% |
| Other tangible fixed assets | 26 | €36,632 | €36,833 | +€200 | +0.5% |
| Current assets | 29/58 | €39,882 | €18,833 | -€21,049 | -52.8% |
| Stocks and contracts in progress | 3 | €17,525 | €17,525 | = | 0.0% |
| Stocks | 30/36 | €17,525 | €17,525 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,035 | - | -€19,035 | |
| Other amounts receivable | 41 | €19,035 | - | -€19,035 | |
| Cash at bank and in hand | 54/58 | €2,509 | €1,044 | -€1,465 | -58.4% |
| Deferred charges and accrued income | 490/1 | €813 | €264 | -€549 | -67.5% |
| Total equity and liabilities | 10/49 | €80,068 | €59,954 | -€20,114 | -25.1% |
| Equity | 10/15 | €47,151 | €19,809 | -€27,341 | -58.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,151 | €14,809 | -€27,341 | -64.9% |
| Distributable reserves | 133 | €42,151 | €14,809 | -€27,341 | -64.9% |
| Amounts payable | 17/49 | €32,918 | €40,145 | +€7,227 | +22.0% |
| Amounts payable after more than one year | 17 | €14,430 | - | -€14,430 | |
| Other amounts payable | 178/9 | €14,430 | - | -€14,430 | |
| Amounts payable within one year | 42/48 | €18,488 | €39,809 | +€21,321 | +115.3% |
| Trade debts | 44 | €724 | €1,764 | +€1,041 | +143.8% |
| Suppliers | 440/4 | €724 | €1,764 | +€1,041 | +143.8% |
| Taxes, remuneration and social security | 45 | €16,264 | €16,381 | +€117 | +0.7% |
| Taxes | 450/3 | €16,264 | €16,381 | +€117 | +0.7% |
| Other amounts payable | 47/48 | €1,500 | €21,663 | +€20,163 | +1344.2% |
| Accrued charges and deferred income | 492/3 | - | €336 | +€336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,425 | €6,017 | -€408 | -6.4% |
| Other operating charges | 640/8 | - | €163 | +€163 | |
| Gross operating margin | 9900 | €64,231 | -€20,441 | -€84,672 | |
| Operating profit (loss) | 9901 | €57,806 | -€26,621 | -€84,427 | |
| Financial income | 75/76B | €813 | €56 | -€757 | -93.1% |
| Recurring financial income | 75 | €813 | €56 | -€757 | -93.1% |
| Financial charges | 65/66B | €205 | €776 | +€571 | +278.1% |
| Recurring financial charges | 65 | €205 | €776 | +€571 | +278.1% |
| Profit (loss) for the period before taxes | 9903 | €58,415 | -€27,341 | -€85,756 | |
| Income taxes | 67/77 | €16,264 | - | -€16,264 | |
| Profit (loss) for the period | 9904 | €42,151 | -€27,341 | -€69,492 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,151 | -€27,341 | -€69,492 |
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.