VERMIEGO: 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.
VERMIEGO
Largest movements
- Receivables after one year +€546,000
new in 2025: €546,000
- Receivables within one year -€276,353
down €276,353 (-56.1%), from €492,500 to €216,147
of which Other amounts receivable: -€473,353
- Trade debts +€125,480
up €125,480 (+125%), from €100,615 to €226,095
- Debts after one year +€78,208
up €78,208 (+5.3%), from €1.5m to €1.6m
- Other debts +€37,432
up €37,432 (+11.2%), from €335,068 to €372,500
- Provisions +€35,200
up €35,200 (+30.5%), from €115,566 to €150,767
of which Provisions for liabilities and charges: +€39,101
- Gross operating margin -€75,941
down €75,941 (-77.2%), from €98,362 to €22,421
- Taxes +€41,382
up €41,382 (+3,183%), from €1,300 to €42,682
- Financial income +€22,040
new in 2025: €22,040
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 | €2,676,527 | €2,921,425 | +€244,898 | +9.1% |
| Fixed assets | 21/28 | €2,177,498 | €2,159,278 | -€18,220 | -0.8% |
| Tangible fixed assets | 22/27 | €593,016 | €574,796 | -€18,220 | -3.1% |
| Land and buildings | 22 | €593,016 | €574,796 | -€18,220 | -3.1% |
| Financial fixed assets | 28 | €1,584,482 | €1,584,482 | = | 0.0% |
| Current assets | 29/58 | €499,029 | €762,147 | +€263,118 | +52.7% |
| Amounts receivable after more than one year | 29 | - | €546,000 | +€546,000 | |
| Trade receivables | 290 | - | €546,000 | +€546,000 | |
| Amounts receivable within one year | 40/41 | €492,500 | €216,147 | -€276,353 | -56.1% |
| Trade receivables | 40 | - | €197,000 | +€197,000 | |
| Other amounts receivable | 41 | €492,500 | €19,147 | -€473,353 | -96.1% |
| Cash at bank and in hand | 54/58 | €6,529 | - | -€6,529 | |
| Total equity and liabilities | 10/49 | €2,676,527 | €2,921,425 | +€244,898 | +9.1% |
| Equity | 10/15 | €625,440 | €590,721 | -€34,719 | -5.6% |
| Contributions | 10/11 | €346,031 | €346,031 | = | 0.0% |
| Capital | 10 | €346,031 | €346,031 | = | 0.0% |
| Issued capital | 100 | €346,031 | €346,031 | = | 0.0% |
| Reserves | 13 | €224,435 | €216,859 | -€7,576 | -3.4% |
| Tax-exempt reserves | 132 | €224,435 | €216,859 | -€7,576 | -3.4% |
| Profit (loss) carried forward | 14 | €54,975 | €27,832 | -€27,143 | -49.4% |
| Provisions and deferred taxes | 16 | €115,566 | €150,767 | +€35,200 | +30.5% |
| Provisions for liabilities and charges | 160/5 | - | €39,101 | +€39,101 | |
| Taxes | 161 | - | €39,101 | +€39,101 | |
| Deferred taxes | 168 | €115,566 | €111,665 | -€3,901 | -3.4% |
| Amounts payable | 17/49 | €1,935,521 | €2,179,937 | +€244,416 | +12.6% |
| Amounts payable after more than one year | 17 | €1,482,332 | €1,560,540 | +€78,208 | +5.3% |
| Financial debts | 170/4 | €1,482,332 | €1,560,540 | +€78,208 | +5.3% |
| Amounts payable within one year | 42/48 | €453,189 | €619,397 | +€166,208 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €12,137 | €12,191 | +€54 | +0.4% |
| Financial debts | 43 | - | €580 | +€580 | |
| Credit institutions | 430/8 | - | €580 | +€580 | |
| Trade debts | 44 | €100,615 | €226,095 | +€125,480 | +125% |
| Suppliers | 440/4 | €100,615 | €226,095 | +€125,480 | +125% |
| Taxes, remuneration and social security | 45 | €5,369 | €8,031 | +€2,662 | +49.6% |
| Taxes | 450/3 | €5,369 | €8,031 | +€2,662 | +49.6% |
| Other amounts payable | 47/48 | €335,068 | €372,500 | +€37,432 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,220 | €18,220 | = | 0.0% |
| Other operating charges | 640/8 | €2,555 | €2,688 | +€133 | +5.2% |
| Gross operating margin | 9900 | €98,362 | €22,421 | -€75,941 | -77.2% |
| Operating profit (loss) | 9901 | €77,587 | €1,513 | -€76,074 | -98.1% |
| Financial income | 75/76B | - | €22,040 | +€22,040 | |
| Recurring financial income | 75 | - | €22,040 | +€22,040 | |
| Financial charges | 65/66B | €19,863 | €19,490 | -€373 | -1.9% |
| Recurring financial charges | 65 | €19,863 | €19,490 | -€373 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €57,724 | €4,063 | -€53,661 | -93.0% |
| Transfer from deferred taxes | 780 | €3,901 | €3,901 | = | 0.0% |
| Income taxes | 67/77 | €1,300 | €42,682 | +€41,382 | +3,183% |
| Profit (loss) for the period | 9904 | €60,325 | -€34,719 | -€95,044 | |
| Transfer from tax-exempt reserves | 789 | €7,576 | €7,576 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,901 | -€27,143 | -€95,044 |
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 30 October 2026 via checked.be.