VERMINNEN: 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.
VERMINNEN
Largest movements
- Tangible fixed assets -€24,711
down €24,711 (-7.7%), from €319,512 to €294,800
of which Land and buildings: -€17,811
- Stocks and contracts +€6,224
new in 2025: €6,224
- Other debts -€9,441
down €9,441 (-4.7%), from €200,557 to €191,116
- Reserves -€5,430
down €5,430 (-4.0%), from €136,020 to €130,590
of which Distributable reserves: -€5,430
- Gross operating margin +€5,933
up €5,933 (+34.1%), from €17,395 to €23,328
- Other operating charges -€1,336
down €1,336 (-24.7%), from €5,403 to €4,067
- Depreciation -€322
down €322 (-1.3%), from €25,033 to €24,711
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 | €364,374 | €350,709 | -€13,666 | -3.8% |
| Fixed assets | 21/28 | €319,578 | €294,866 | -€24,711 | -7.7% |
| Tangible fixed assets | 22/27 | €319,512 | €294,800 | -€24,711 | -7.7% |
| Land and buildings | 22 | €304,724 | €286,913 | -€17,811 | -5.8% |
| Plant, machinery and equipment | 23 | €8,771 | €7,665 | -€1,106 | -12.6% |
| Furniture and vehicles | 24 | €10 | €222 | +€212 | +2,132% |
| Leasing and similar rights | 25 | €6,007 | €0 | -€6,007 | -100% |
| Financial fixed assets | 28 | €66 | €66 | = | 0.0% |
| Current assets | 29/58 | €44,797 | €55,843 | +€11,046 | +24.7% |
| Stocks and contracts in progress | 3 | - | €6,224 | +€6,224 | |
| Stocks | 30/36 | - | €6,224 | +€6,224 | |
| Amounts receivable within one year | 40/41 | €8,007 | €10,261 | +€2,254 | +28.2% |
| Trade receivables | 40 | €8,002 | €10,107 | +€2,105 | +26.3% |
| Other amounts receivable | 41 | €5 | €154 | +€149 | +2,970% |
| Cash at bank and in hand | 54/58 | €9,389 | €12,015 | +€2,627 | +28.0% |
| Deferred charges and accrued income | 490/1 | €27,401 | €27,342 | -€59 | -0.2% |
| Total equity and liabilities | 10/49 | €364,374 | €350,709 | -€13,666 | -3.8% |
| Equity | 10/15 | €156,020 | €150,541 | -€5,479 | -3.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €136,020 | €130,590 | -€5,430 | -4.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €134,020 | €128,590 | -€5,430 | -4.1% |
| Profit (loss) carried forward | 14 | - | -€49 | -€49 | |
| Amounts payable | 17/49 | €208,354 | €200,168 | -€8,187 | -3.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €208,354 | €200,168 | -€8,187 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €1,157 | €0 | -€1,157 | -100% |
| Trade debts | 44 | €5,668 | €7,916 | +€2,248 | +39.7% |
| Suppliers | 440/4 | €5,668 | €7,916 | +€2,248 | +39.7% |
| Advances received on contracts in progress | 46 | €415 | €1,135 | +€720 | +173% |
| Taxes, remuneration and social security | 45 | €557 | €0 | -€557 | -100% |
| Taxes | 450/3 | €557 | €0 | -€557 | -100% |
| Other amounts payable | 47/48 | €200,557 | €191,116 | -€9,441 | -4.7% |
| Non-recurring operating income | 76A | €950 | €0 | -€950 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,033 | €24,711 | -€322 | -1.3% |
| Other operating charges | 640/8 | €5,403 | €4,067 | -€1,336 | -24.7% |
| Gross operating margin | 9900 | €17,395 | €23,328 | +€5,933 | +34.1% |
| Operating profit (loss) | 9901 | -€13,042 | -€5,451 | +€7,591 | +58.2% |
| Financial income | 75/76B | €1 | €42 | +€41 | +3,516% |
| Recurring financial income | 75 | €1 | €42 | +€41 | +3,516% |
| Financial charges | 65/66B | €143 | €70 | -€72 | -50.7% |
| Recurring financial charges | 65 | €143 | €70 | -€72 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,183 | -€5,479 | +€7,704 | +58.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€13,183 | -€5,479 | +€7,704 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,183 | -€5,479 | +€7,704 | +58.4% |
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 28 October 2026 via checked.be.