VERMEIREN: 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.
VERMEIREN
Largest movements
- Receivables within one year +€13,282
up €13,282 (+789%), from €1,683 to €14,965
of which Trade receivables: +€14,332
- Tangible fixed assets -€7,722
down €7,722 (-6.4%), from €121,046 to €113,324
of which Plant, machinery and equipment: -€4,801
- Profit (loss) carried forward +€4,035
up €4,035 (+26.0%), from -€15,492 to -€11,457
- Accrued charges and deferred income +€3,085
new in 2025: €3,085
- Depreciation +€1,445
up €1,445 (+8.4%), from €17,274 to €18,720
- Gross operating margin -€594
down €594 (-2.0%), from €29,959 to €29,365
- Financial charges +€306
up €306 (+681%), from €45 to €351
- Other operating charges +€303
up €303 (+5.1%), from €5,956 to €6,259
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 | €246,447 | €251,951 | +€5,504 | +2.2% |
| Fixed assets | 21/28 | €121,046 | €113,324 | -€7,722 | -6.4% |
| Tangible fixed assets | 22/27 | €121,046 | €113,324 | -€7,722 | -6.4% |
| Land and buildings | 22 | €85,315 | €82,394 | -€2,921 | -3.4% |
| Plant, machinery and equipment | 23 | €35,731 | €30,930 | -€4,801 | -13.4% |
| Current assets | 29/58 | €125,401 | €138,627 | +€13,226 | +10.5% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,683 | €14,965 | +€13,282 | +789% |
| Trade receivables | 40 | €306 | €14,638 | +€14,332 | +4,679% |
| Other amounts receivable | 41 | €1,377 | €327 | -€1,049 | -76.2% |
| Current investments | 50/53 | €16,347 | €16,347 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €105,994 | €105,921 | -€73 | -0.1% |
| Deferred charges and accrued income | 490/1 | €377 | €394 | +€17 | +4.6% |
| Total equity and liabilities | 10/49 | €246,447 | €251,951 | +€5,504 | +2.2% |
| Equity | 10/15 | €4,508 | €8,543 | +€4,035 | +89.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,492 | -€11,457 | +€4,035 | +26.0% |
| Amounts payable | 17/49 | €241,939 | €243,408 | +€1,470 | +0.6% |
| Amounts payable after more than one year | 17 | €240,057 | €240,057 | = | 0.0% |
| Other amounts payable | 178/9 | €240,057 | €240,057 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,882 | €267 | -€1,615 | -85.8% |
| Trade debts | 44 | €1,882 | €267 | -€1,615 | -85.8% |
| Suppliers | 440/4 | €1,882 | €267 | -€1,615 | -85.8% |
| Accrued charges and deferred income | 492/3 | - | €3,085 | +€3,085 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,274 | €18,720 | +€1,445 | +8.4% |
| Other operating charges | 640/8 | €5,956 | €6,259 | +€303 | +5.1% |
| Gross operating margin | 9900 | €29,959 | €29,365 | -€594 | -2.0% |
| Operating profit (loss) | 9901 | €6,728 | €4,386 | -€2,342 | -34.8% |
| Financial charges | 65/66B | €45 | €351 | +€306 | +681% |
| Recurring financial charges | 65 | €45 | €351 | +€306 | +681% |
| Profit (loss) for the period before taxes | 9903 | €6,683 | €4,035 | -€2,648 | -39.6% |
| Profit (loss) for the period | 9904 | €6,683 | €4,035 | -€2,648 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,683 | €4,035 | -€2,648 | -39.6% |
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 23 October 2026 via checked.be.