VERMEESCH ERWIN: 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.
VERMEESCH ERWIN
Largest movements
- Receivables within one year +€116,809
up €116,809 (+15.2%), from €769,578 to €886,386
of which Trade receivables: +€81,092
- Stocks and contracts -€39,353
down €39,353 (-85.5%), from €46,029 to €6,677
- Tangible fixed assets -€35,801
down €35,801 (-30.8%), from €116,385 to €80,584
of which Leasing and similar rights: -€19,143
- Reserves +€66,862
up €66,862 (+8.5%), from €786,912 to €853,774
of which Distributable reserves: +€66,862
- Debts after one year -€17,316
down €17,316 (-36.1%), from €48,025 to €30,709
- Trade debts -€15,807
down €15,807 (-58.7%), from €26,911 to €11,104
- Gross operating margin +€56,106
up €56,106 (+65.3%), from €85,904 to €142,010
- Taxes +€14,334
up €14,334 (+110%), from €13,074 to €27,407
- Financial income -€2,643
down €2,643 (-95.0%), from €2,784 to €140
- Other operating charges -€2,356
down €2,356 (-48.6%), from €4,849 to €2,493
- Depreciation +€1,502
up €1,502 (+4.2%), from €36,101 to €37,602
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 | €970,066 | €1,012,208 | +€42,142 | +4.3% |
| Fixed assets | 21/28 | €116,385 | €80,584 | -€35,801 | -30.8% |
| Tangible fixed assets | 22/27 | €116,385 | €80,584 | -€35,801 | -30.8% |
| Land and buildings | 22 | €9,865 | €7,176 | -€2,690 | -27.3% |
| Plant, machinery and equipment | 23 | €2,224 | €880 | -€1,344 | -60.4% |
| Furniture and vehicles | 24 | €24,324 | €11,699 | -€12,624 | -51.9% |
| Leasing and similar rights | 25 | €79,972 | €60,829 | -€19,143 | -23.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €853,681 | €931,624 | +€77,943 | +9.1% |
| Stocks and contracts in progress | 3 | €46,029 | €6,677 | -€39,353 | -85.5% |
| Contracts in progress | 37 | €46,029 | €6,677 | -€39,353 | -85.5% |
| Amounts receivable within one year | 40/41 | €769,578 | €886,386 | +€116,809 | +15.2% |
| Trade receivables | 40 | €14,749 | €95,842 | +€81,092 | +550% |
| Other amounts receivable | 41 | €754,828 | €790,545 | +€35,717 | +4.7% |
| Cash at bank and in hand | 54/58 | €33,830 | €37,318 | +€3,488 | +10.3% |
| Deferred charges and accrued income | 490/1 | €4,244 | €1,243 | -€3,001 | -70.7% |
| Total equity and liabilities | 10/49 | €970,066 | €1,012,208 | +€42,142 | +4.3% |
| Equity | 10/15 | €873,675 | €940,537 | +€66,862 | +7.7% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €786,912 | €853,774 | +€66,862 | +8.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €786,912 | €853,774 | +€66,862 | +8.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €96,391 | €71,671 | -€24,720 | -25.6% |
| Amounts payable after more than one year | 17 | €48,025 | €30,709 | -€17,316 | -36.1% |
| Financial debts | 170/4 | €48,025 | €30,709 | -€17,316 | -36.1% |
| Amounts payable within one year | 42/48 | €46,566 | €40,962 | -€5,604 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €19,604 | €17,316 | -€2,288 | -11.7% |
| Trade debts | 44 | €26,911 | €11,104 | -€15,807 | -58.7% |
| Suppliers | 440/4 | €26,911 | €11,104 | -€15,807 | -58.7% |
| Taxes, remuneration and social security | 45 | €0 | €7,542 | +€7,542 | |
| Taxes | 450/3 | €0 | €7,542 | +€7,542 | |
| Other amounts payable | 47/48 | €51 | €5,000 | +€4,949 | +9,799% |
| Accrued charges and deferred income | 492/3 | €1,800 | €0 | -€1,800 | -100% |
| Non-recurring operating income | 76A | €2,184 | €0 | -€2,184 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,101 | €37,602 | +€1,502 | +4.2% |
| Other operating charges | 640/8 | €4,849 | €2,493 | -€2,356 | -48.6% |
| Gross operating margin | 9900 | €85,904 | €142,010 | +€56,106 | +65.3% |
| Operating profit (loss) | 9901 | €44,954 | €101,915 | +€56,961 | +127% |
| Financial income | 75/76B | €2,784 | €140 | -€2,643 | -95.0% |
| Recurring financial income | 75 | €2,784 | €140 | -€2,643 | -95.0% |
| Financial charges | 65/66B | €2,822 | €2,786 | -€36 | -1.3% |
| Recurring financial charges | 65 | €2,822 | €2,786 | -€36 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €44,916 | €99,270 | +€54,354 | +121% |
| Income taxes | 67/77 | €13,074 | €27,407 | +€14,334 | +110% |
| Profit (loss) for the period | 9904 | €31,842 | €71,862 | +€40,020 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €31,842 | €71,862 | +€40,020 | +126% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.