VerMer: what changed
Two fiscal 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.
VerMer
Largest movements
- Receivables within one year -€54,794
down €54,794 (-73.5%), from €74,502 to €19,708
of which Trade receivables: -€46,214
- Cash -€20,656
down €20,656 (-72.0%), from €28,693 to €8,036
mainly Net result for the year (-€52,666) and Investment in fixed assets (net) (-€20,934)
- Tangible fixed assets +€11,319
up €11,319 (+50.9%), from €22,228 to €33,547
of which Land and buildings: +€7,144
- Deferred charges and accrued income +€1,541
new in 2025: €1,541
- Reserves -€28,349
no longer reported in 2025 (was €28,349)
- Profit (loss) carried forward -€24,317
new in 2025: -€24,317
- Tax, wage and social debts -€8,272
down €8,272 (-54.5%), from €15,168 to €6,895
of which Taxes: -€9,630
- Debts after one year -€3,219
down €3,219 (-66.5%), from €4,841 to €1,621
- Trade debts +€1,522
up €1,522 (+32.7%), from €4,659 to €6,181
- Gross operating margin -€83,385
down €83,385, from €42,082 to -€41,303
- Taxes -€7,920
down €7,920 (-97.2%), from €8,151 to €231
- Depreciation +€4,905
up €4,905 (+104.1%), from €4,710 to €9,615
- Financial charges +€516
up €516 (+112.2%), from €460 to €976
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 | €125,423 | €62,833 | -€62,590 | -49.9% |
| Fixed assets | 21/28 | €22,228 | €33,547 | +€11,319 | +50.9% |
| Tangible fixed assets | 22/27 | €22,228 | €33,547 | +€11,319 | +50.9% |
| Land and buildings | 22 | €19,804 | €26,948 | +€7,144 | +36.1% |
| Furniture and vehicles | 24 | €2,424 | €6,599 | +€4,175 | +172.2% |
| Current assets | 29/58 | €103,195 | €29,286 | -€73,909 | -71.6% |
| Amounts receivable within one year | 40/41 | €74,502 | €19,708 | -€54,794 | -73.5% |
| Trade receivables | 40 | €65,153 | €18,939 | -€46,214 | -70.9% |
| Other amounts receivable | 41 | €9,349 | €769 | -€8,580 | -91.8% |
| Cash at bank and in hand | 54/58 | €28,693 | €8,036 | -€20,656 | -72.0% |
| Deferred charges and accrued income | 490/1 | - | €1,541 | +€1,541 | |
| Total equity and liabilities | 10/49 | €125,423 | €62,833 | -€62,590 | -49.9% |
| Equity | 10/15 | €29,349 | -€23,317 | -€52,666 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €28,349 | - | -€28,349 | |
| Distributable reserves | 133 | €28,349 | - | -€28,349 | |
| Profit (loss) carried forward | 14 | - | -€24,317 | -€24,317 | |
| Amounts payable | 17/49 | €96,074 | €86,150 | -€9,924 | -10.3% |
| Amounts payable after more than one year | 17 | €4,841 | €1,621 | -€3,219 | -66.5% |
| Financial debts | 170/4 | €4,841 | €1,621 | -€3,219 | -66.5% |
| Amounts payable within one year | 42/48 | €91,233 | €84,529 | -€6,705 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €3,187 | €3,219 | +€32 | +1.0% |
| Trade debts | 44 | €4,659 | €6,181 | +€1,522 | +32.7% |
| Suppliers | 440/4 | €4,659 | €6,181 | +€1,522 | +32.7% |
| Taxes, remuneration and social security | 45 | €15,168 | €6,895 | -€8,272 | -54.5% |
| Taxes | 450/3 | €15,168 | €5,537 | -€9,630 | -63.5% |
| Remuneration and social security | 454/9 | - | €1,358 | +€1,358 | |
| Other amounts payable | 47/48 | €68,220 | €68,233 | +€13 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,710 | €9,615 | +€4,905 | +104.1% |
| Other operating charges | 640/8 | €415 | €542 | +€127 | +30.5% |
| Gross operating margin | 9900 | €42,082 | -€41,303 | -€83,385 | |
| Operating profit (loss) | 9901 | €36,957 | -€51,460 | -€88,417 | |
| Financial income | 75/76B | €3 | €1 | -€2 | -59.8% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -59.8% |
| Financial charges | 65/66B | €460 | €976 | +€516 | +112.2% |
| Recurring financial charges | 65 | €460 | €976 | +€516 | +112.2% |
| Profit (loss) for the period before taxes | 9903 | €36,499 | -€52,435 | -€88,935 | |
| Income taxes | 67/77 | €8,151 | €231 | -€7,920 | -97.2% |
| Profit (loss) for the period | 9904 | €28,349 | -€52,666 | -€81,015 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,349 | -€52,666 | -€81,015 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.