VERMI: 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.
VERMI
Largest movements
- Tangible fixed assets +€256,164
up €256,164 (+56.8%), from €450,607 to €706,771
of which Land and buildings: +€256,475
- Cash -€11,413
down €11,413 (-43.0%), from €26,547 to €15,134
mainly Investment in fixed assets (net) (-€278,760) and Net result for the year (-€8,511)
- Contributions +€278,760
up €278,760 (+2,248%), from €12,400 to €291,160
- Reserves -€20,674
down €20,674 (-12.4%), from €166,454 to €145,781
of which Distributable reserves: -€18,814
- Profit (loss) carried forward -€7,484
down €7,484 (-100%), from €7,484 to €0
- Debts after one year -€7,373
down €7,373 (-3.9%), from €191,135 to €183,763
- Gross operating margin -€17,837
down €17,837 (-44.5%), from €40,097 to €22,260
- Depreciation +€10,142
up €10,142 (+81.4%), from €12,454 to €22,596
- Taxes -€6,400
down €6,400 (-97.8%), from €6,546 to €146
- Financial charges +€1,962
up €1,962 (+43.1%), from €4,554 to €6,516
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 | €482,625 | €722,455 | +€239,830 | +49.7% |
| Fixed assets | 21/28 | €450,607 | €706,771 | +€256,164 | +56.8% |
| Tangible fixed assets | 22/27 | €450,607 | €706,771 | +€256,164 | +56.8% |
| Land and buildings | 22 | €449,253 | €705,728 | +€256,475 | +57.1% |
| Plant, machinery and equipment | 23 | €1,354 | €1,042 | -€311 | -23.0% |
| Current assets | 29/58 | €32,018 | €15,684 | -€16,334 | -51.0% |
| Amounts receivable within one year | 40/41 | €5,470 | €160 | -€5,310 | -97.1% |
| Trade receivables | 40 | €3,060 | €0 | -€3,060 | -100% |
| Other amounts receivable | 41 | €2,410 | €160 | -€2,250 | -93.4% |
| Cash at bank and in hand | 54/58 | €26,547 | €15,134 | -€11,413 | -43.0% |
| Deferred charges and accrued income | 490/1 | €0 | €390 | +€390 | |
| Total equity and liabilities | 10/49 | €482,625 | €722,455 | +€239,830 | +49.7% |
| Equity | 10/15 | €186,338 | €436,941 | +€250,602 | +134% |
| Contributions | 10/11 | €12,400 | €291,160 | +€278,760 | +2,248% |
| Reserves | 13 | €166,454 | €145,781 | -€20,674 | -12.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €164,594 | €145,781 | -€18,814 | -11.4% |
| Profit (loss) carried forward | 14 | €7,484 | €0 | -€7,484 | -100% |
| Amounts payable | 17/49 | €296,286 | €285,514 | -€10,772 | -3.6% |
| Amounts payable after more than one year | 17 | €191,135 | €183,763 | -€7,373 | -3.9% |
| Financial debts | 170/4 | €191,135 | €183,763 | -€7,373 | -3.9% |
| Amounts payable within one year | 42/48 | €101,618 | €101,751 | +€133 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €7,705 | €7,976 | +€271 | +3.5% |
| Trade debts | 44 | €2,391 | €2,273 | -€118 | -4.9% |
| Suppliers | 440/4 | €2,391 | €2,273 | -€118 | -4.9% |
| Taxes, remuneration and social security | 45 | €1,523 | €146 | -€1,377 | -90.4% |
| Taxes | 450/3 | €1,523 | €146 | -€1,377 | -90.4% |
| Other amounts payable | 47/48 | €90,000 | €91,356 | +€1,356 | +1.5% |
| Accrued charges and deferred income | 492/3 | €3,533 | €0 | -€3,533 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,454 | €22,596 | +€10,142 | +81.4% |
| Other operating charges | 640/8 | €1,428 | €1,777 | +€348 | +24.4% |
| Gross operating margin | 9900 | €40,097 | €22,260 | -€17,837 | -44.5% |
| Operating profit (loss) | 9901 | €26,214 | -€2,113 | -€28,328 | |
| Financial income | 75/76B | €111 | €264 | +€153 | +137% |
| Recurring financial income | 75 | €111 | €264 | +€153 | +137% |
| Financial charges | 65/66B | €4,554 | €6,516 | +€1,962 | +43.1% |
| Recurring financial charges | 65 | €4,554 | €6,516 | +€1,962 | +43.1% |
| Profit (loss) for the period before taxes | 9903 | €21,771 | -€8,366 | -€30,137 | |
| Income taxes | 67/77 | €6,546 | €146 | -€6,400 | -97.8% |
| Profit (loss) for the period | 9904 | €15,225 | -€8,511 | -€23,737 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,225 | -€8,511 | -€23,737 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.