VERMEIRE PASCAL: 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.
VERMEIRE PASCAL
Largest movements
- Cash -€16,884
down €16,884 (-58.5%), from €28,854 to €11,970
mainly Investment in fixed assets (net) (-€30,874) and Short-term financial debts (-€10,486)
- Tangible fixed assets +€7,347
up €7,347 (+12.9%), from €57,053 to €64,400
of which Furniture and vehicles: +€17,074
- Receivables within one year -€6,916
down €6,916 (-39.2%), from €17,652 to €10,736
of which Other amounts receivable: -€8,045
- Short-term financial debts -€10,486
down €10,486 (-60.1%), from €17,439 to €6,954
- Debts after one year -€5,941
no longer reported in 2025 (was €5,941)
- Trade debts -€5,627
down €5,627 (-13.1%), from €42,901 to €37,274
- Current portion of long-term debt +€4,846
up €4,846 (+56.3%), from €8,606 to €13,452
- Reserves +€3,646
up €3,646 (+34.9%), from €10,445 to €14,091
- Staff costs -€20,804
down €20,804 (-14.3%), from €145,200 to €124,396
- Gross operating margin -€14,891
down €14,891 (-7.9%), from €189,600 to €174,709
- Depreciation +€3,532
up €3,532 (+17.4%), from €20,295 to €23,827
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 | €122,468 | €105,115 | -€17,353 | -14.2% |
| Fixed assets | 21/28 | €59,229 | €66,276 | +€7,047 | +11.9% |
| Intangible fixed assets | 21 | €2,176 | €1,876 | -€300 | -13.8% |
| Tangible fixed assets | 22/27 | €57,053 | €64,400 | +€7,347 | +12.9% |
| Plant, machinery and equipment | 23 | €55,184 | €45,457 | -€9,727 | -17.6% |
| Furniture and vehicles | 24 | €1,869 | €18,943 | +€17,074 | +913% |
| Current assets | 29/58 | €63,240 | €38,840 | -€24,400 | -38.6% |
| Stocks and contracts in progress | 3 | €16,001 | €16,133 | +€132 | +0.8% |
| Stocks | 30/36 | €16,001 | €16,133 | +€132 | +0.8% |
| Amounts receivable within one year | 40/41 | €17,652 | €10,736 | -€6,916 | -39.2% |
| Trade receivables | 40 | €110 | €1,239 | +€1,129 | +1,026% |
| Other amounts receivable | 41 | €17,542 | €9,497 | -€8,045 | -45.9% |
| Cash at bank and in hand | 54/58 | €28,854 | €11,970 | -€16,884 | -58.5% |
| Deferred charges and accrued income | 490/1 | €733 | - | -€733 | |
| Total equity and liabilities | 10/49 | €122,468 | €105,115 | -€17,353 | -14.2% |
| Equity | 10/15 | €12,445 | €16,091 | +€3,646 | +29.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €10,445 | €14,091 | +€3,646 | +34.9% |
| Distributable reserves | 133 | €10,445 | €14,091 | +€3,646 | +34.9% |
| Amounts payable | 17/49 | €110,023 | €89,024 | -€20,999 | -19.1% |
| Amounts payable after more than one year | 17 | €5,941 | - | -€5,941 | |
| Financial debts | 170/4 | €5,941 | - | -€5,941 | |
| Amounts payable within one year | 42/48 | €100,522 | €86,486 | -€14,036 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €8,606 | €13,452 | +€4,846 | +56.3% |
| Financial debts | 43 | €17,439 | €6,954 | -€10,486 | -60.1% |
| Credit institutions | 430/8 | €17,439 | €6,954 | -€10,486 | -60.1% |
| Trade debts | 44 | €42,901 | €37,274 | -€5,627 | -13.1% |
| Suppliers | 440/4 | €42,901 | €37,274 | -€5,627 | -13.1% |
| Advances received on contracts in progress | 46 | €1,942 | - | -€1,942 | |
| Taxes, remuneration and social security | 45 | €29,633 | €28,805 | -€828 | -2.8% |
| Taxes | 450/3 | €13,370 | €19,520 | +€6,150 | +46.0% |
| Remuneration and social security | 454/9 | €16,263 | €9,285 | -€6,978 | -42.9% |
| Accrued charges and deferred income | 492/3 | €3,560 | €2,538 | -€1,022 | -28.7% |
| Remuneration, social security and pensions | 62 | €145,200 | €124,396 | -€20,804 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,295 | €23,827 | +€3,532 | +17.4% |
| Other operating charges | 640/8 | €10,246 | €10,512 | +€266 | +2.6% |
| Gross operating margin | 9900 | €189,600 | €174,709 | -€14,891 | -7.9% |
| Operating profit (loss) | 9901 | €13,859 | €15,974 | +€2,116 | +15.3% |
| Financial income | 75/76B | €556 | €781 | +€225 | +40.6% |
| Recurring financial income | 75 | €556 | €781 | +€225 | +40.6% |
| Financial charges | 65/66B | €12,666 | €12,594 | -€73 | -0.6% |
| Recurring financial charges | 65 | €12,666 | €12,594 | -€73 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €1,748 | €4,162 | +€2,414 | +138% |
| Income taxes | 67/77 | €1,207 | €516 | -€691 | -57.2% |
| Profit (loss) for the period | 9904 | €542 | €3,646 | +€3,104 | +573% |
| Profit (loss) for the period to be appropriated | 9905 | €542 | €3,646 | +€3,104 | +573% |
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 14 October 2026 via checked.be.