VERMEULEN GREGORY: 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.
VERMEULEN GREGORY
Largest movements
- Receivables within one year +€47,709
up €47,709 (+502%), from €9,504 to €57,214
of which Trade receivables: +€43,898
- Tangible fixed assets -€7,058
down €7,058 (-17.8%), from €39,706 to €32,647
of which Furniture and vehicles: -€7,784
- Stocks and contracts -€3,124
down €3,124 (-51.4%), from €6,074 to €2,950
of which Contracts in progress: -€1,622
- Reserves +€40,198
up €40,198 (+98.2%), from €40,946 to €81,144
- Tax, wage and social debts -€7,012
down €7,012 (-81.3%), from €8,630 to €1,618
- Other debts +€5,653
up €5,653 (+7.3%), from €76,913 to €82,566
- Accrued charges and deferred income -€2,221
down €2,221 (-87.6%), from €2,535 to €314
- Taxes -€2,484
down €2,484 (-17.1%), from €14,564 to €12,080
- Depreciation +€2,268
up €2,268 (+29.9%), from €7,596 to €9,863
- Gross operating margin -€1,414
down €1,414 (-2.2%), from €64,091 to €62,677
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 | €137,285 | €175,638 | +€38,353 | +27.9% |
| Fixed assets | 21/28 | €39,706 | €32,647 | -€7,058 | -17.8% |
| Tangible fixed assets | 22/27 | €39,706 | €32,647 | -€7,058 | -17.8% |
| Plant, machinery and equipment | 23 | €3,444 | €4,170 | +€726 | +21.1% |
| Furniture and vehicles | 24 | €36,262 | €28,478 | -€7,784 | -21.5% |
| Current assets | 29/58 | €97,580 | €142,990 | +€45,411 | +46.5% |
| Stocks and contracts in progress | 3 | €6,074 | €2,950 | -€3,124 | -51.4% |
| Stocks | 30/36 | €4,452 | €2,950 | -€1,502 | -33.7% |
| Contracts in progress | 37 | €1,622 | - | -€1,622 | |
| Amounts receivable within one year | 40/41 | €9,504 | €57,214 | +€47,709 | +502% |
| Trade receivables | 40 | €9,503 | €53,401 | +€43,898 | +462% |
| Other amounts receivable | 41 | €1 | €3,813 | +€3,812 | +381,162% |
| Cash at bank and in hand | 54/58 | €81,635 | €82,599 | +€965 | +1.2% |
| Deferred charges and accrued income | 490/1 | €366 | €228 | -€139 | -37.8% |
| Total equity and liabilities | 10/49 | €137,285 | €175,638 | +€38,353 | +27.9% |
| Equity | 10/15 | €43,946 | €84,144 | +€40,198 | +91.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €40,946 | €81,144 | +€40,198 | +98.2% |
| Distributable reserves | 133 | €40,946 | €81,144 | +€40,198 | +98.2% |
| Amounts payable | 17/49 | €93,339 | €91,494 | -€1,845 | -2.0% |
| Amounts payable within one year | 42/48 | €90,804 | €91,181 | +€376 | +0.4% |
| Trade debts | 44 | €5,262 | €6,997 | +€1,735 | +33.0% |
| Suppliers | 440/4 | €5,262 | €6,997 | +€1,735 | +33.0% |
| Taxes, remuneration and social security | 45 | €8,630 | €1,618 | -€7,012 | -81.3% |
| Taxes | 450/3 | €8,630 | €1,618 | -€7,012 | -81.3% |
| Other amounts payable | 47/48 | €76,913 | €82,566 | +€5,653 | +7.3% |
| Accrued charges and deferred income | 492/3 | €2,535 | €314 | -€2,221 | -87.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,596 | €9,863 | +€2,268 | +29.9% |
| Other operating charges | 640/8 | €978 | €880 | -€98 | -10.0% |
| Gross operating margin | 9900 | €64,091 | €62,677 | -€1,414 | -2.2% |
| Operating profit (loss) | 9901 | €55,517 | €51,934 | -€3,584 | -6.5% |
| Financial income | 75/76B | €2 | €414 | +€412 | +20,930% |
| Recurring financial income | 75 | €2 | €414 | +€412 | +20,930% |
| Financial charges | 65/66B | €9 | €70 | +€62 | +701% |
| Recurring financial charges | 65 | €9 | €70 | +€62 | +701% |
| Profit (loss) for the period before taxes | 9903 | €55,510 | €52,278 | -€3,233 | -5.8% |
| Income taxes | 67/77 | €14,564 | €12,080 | -€2,484 | -17.1% |
| Profit (loss) for the period | 9904 | €40,946 | €40,198 | -€749 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,946 | €40,198 | -€749 | -1.8% |
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 25 October 2026 via checked.be.