Vermeire: what changed
Vermeire
Largest movements
- Tangible fixed assets +€47,238
up €47,238 (+24.5%), from €192,820 to €240,059
- Receivables within one year -€35,441
down €35,441 (-29.0%), from €122,421 to €86,980
of which Other amounts receivable: -€81,877
- Deferred charges and accrued income -€9,509
down €9,509 (-44.6%), from €21,320 to €11,811
- Cash -€8,323
down €8,323 (-66.6%), from €12,500 to €4,176
mainly Investment in fixed assets (net) (-€126,567) and Trade debts (-€69,290)
- Trade debts -€69,290
down €69,290 (-39.2%), from €176,802 to €107,513
- Current portion of long-term debt +€58,166
new in 2025: €58,166
- Tax, wage and social debts -€18,630
down €18,630 (-40.7%), from €45,826 to €27,196
of which Remuneration and social security: -€13,613
- Debts after one year +€12,725
new in 2025: €12,725
- Other debts +€7,524
up €7,524 (+13.3%), from €56,491 to €64,015
- Depreciation +€32,577
up €32,577 (+70.2%), from €46,411 to €78,989
- Gross operating margin +€26,186
up €26,186 (+9.1%), from €287,938 to €314,125
- Staff costs -€13,583
down €13,583 (-5.9%), from €228,369 to €214,786
- Financial charges +€5,290
up €5,290 (+82.4%), from €6,420 to €11,710
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 | €353,352 | €347,657 | -€5,695 | -1.6% |
| Fixed assets | 21/28 | €197,112 | €244,690 | +€47,578 | +24.1% |
| Intangible fixed assets | 21 | €247 | - | -€247 | |
| Tangible fixed assets | 22/27 | €192,820 | €240,059 | +€47,238 | +24.5% |
| Furniture and vehicles | 24 | €192,820 | €240,059 | +€47,238 | +24.5% |
| Financial fixed assets | 28 | €4,045 | €4,631 | +€586 | +14.5% |
| Current assets | 29/58 | €156,241 | €102,967 | -€53,273 | -34.1% |
| Amounts receivable within one year | 40/41 | €122,421 | €86,980 | -€35,441 | -29.0% |
| Trade receivables | 40 | €34,127 | €80,563 | +€46,436 | +136% |
| Other amounts receivable | 41 | €88,293 | €6,417 | -€81,877 | -92.7% |
| Cash at bank and in hand | 54/58 | €12,500 | €4,176 | -€8,323 | -66.6% |
| Deferred charges and accrued income | 490/1 | €21,320 | €11,811 | -€9,509 | -44.6% |
| Total equity and liabilities | 10/49 | €353,352 | €347,657 | -€5,695 | -1.6% |
| Equity | 10/15 | €74,234 | €78,043 | +€3,809 | +5.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,034 | €9,843 | +€3,809 | +63.1% |
| Amounts payable | 17/49 | €279,119 | €269,614 | -€9,505 | -3.4% |
| Amounts payable after more than one year | 17 | - | €12,725 | +€12,725 | |
| Financial debts | 170/4 | - | €12,725 | +€12,725 | |
| Amounts payable within one year | 42/48 | €279,119 | €256,889 | -€22,230 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | - | €58,166 | +€58,166 | |
| Trade debts | 44 | €176,802 | €107,513 | -€69,290 | -39.2% |
| Suppliers | 440/4 | €176,802 | €107,513 | -€69,290 | -39.2% |
| Taxes, remuneration and social security | 45 | €45,826 | €27,196 | -€18,630 | -40.7% |
| Taxes | 450/3 | €11,747 | €6,730 | -€5,017 | -42.7% |
| Remuneration and social security | 454/9 | €34,079 | €20,466 | -€13,613 | -39.9% |
| Other amounts payable | 47/48 | €56,491 | €64,015 | +€7,524 | +13.3% |
| Remuneration, social security and pensions | 62 | €228,369 | €214,786 | -€13,583 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,411 | €78,989 | +€32,577 | +70.2% |
| Other operating charges | 640/8 | €3,732 | €4,231 | +€499 | +13.4% |
| Gross operating margin | 9900 | €287,938 | €314,125 | +€26,186 | +9.1% |
| Operating profit (loss) | 9901 | €9,426 | €16,119 | +€6,693 | +71.0% |
| Financial charges | 65/66B | €6,420 | €11,710 | +€5,290 | +82.4% |
| Recurring financial charges | 65 | €6,420 | €11,710 | +€5,290 | +82.4% |
| Profit (loss) for the period before taxes | 9903 | €3,006 | €4,409 | +€1,403 | +46.7% |
| Income taxes | 67/77 | €589 | €600 | +€11 | +1.9% |
| Profit (loss) for the period | 9904 | €2,418 | €3,809 | +€1,392 | +57.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,418 | €3,809 | +€1,392 | +57.6% |
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 8 November 2026 via checked.be.