VERMO: 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.
VERMO
Largest movements
- Tangible fixed assets -€30,710
down €30,710 (-18.0%), from €170,702 to €139,992
of which Furniture and vehicles: -€23,942
- Receivables within one year -€24,798
down €24,798 (-21.2%), from €117,080 to €92,282
of which Trade receivables: -€75,767
- Stocks and contracts -€24,611
down €24,611 (-100%), from €24,611 to €0
- Current portion of long-term debt -€60,801
down €60,801 (-100%), from €60,801 to €0
- Trade debts -€27,069
down €27,069 (-85.8%), from €31,538 to €4,468
- Reserves +€26,036
up €26,036 (+13.5%), from €193,487 to €219,523
- Tax, wage and social debts -€18,200
down €18,200 (-49.6%), from €36,723 to €18,523
of which Remuneration and social security: -€21,516
- Gross operating margin -€113,146
down €113,146 (-45.4%), from €249,232 to €136,086
- Staff costs -€56,620
down €56,620 (-45.4%), from €124,817 to €68,196
- Other operating charges -€27,695
down €27,695 (-68.2%), from €40,599 to €12,904
- Depreciation -€14,570
down €14,570 (-66.4%), from €21,941 to €7,371
- Taxes +€4,362
up €4,362 (+73.7%), from €5,921 to €10,283
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 | €389,976 | €309,942 | -€80,034 | -20.5% |
| Fixed assets | 21/28 | €170,702 | €139,992 | -€30,710 | -18.0% |
| Tangible fixed assets | 22/27 | €170,702 | €139,992 | -€30,710 | -18.0% |
| Land and buildings | 22 | €145,298 | €139,612 | -€5,686 | -3.9% |
| Plant, machinery and equipment | 23 | €1,463 | €380 | -€1,083 | -74.0% |
| Furniture and vehicles | 24 | €23,942 | €0 | -€23,942 | -100% |
| Current assets | 29/58 | €219,274 | €169,950 | -€49,324 | -22.5% |
| Stocks and contracts in progress | 3 | €24,611 | €0 | -€24,611 | -100% |
| Stocks | 30/36 | €24,611 | €0 | -€24,611 | -100% |
| Amounts receivable within one year | 40/41 | €117,080 | €92,282 | -€24,798 | -21.2% |
| Trade receivables | 40 | €103,662 | €27,895 | -€75,767 | -73.1% |
| Other amounts receivable | 41 | €13,418 | €64,387 | +€50,969 | +380% |
| Cash at bank and in hand | 54/58 | €70,285 | €72,146 | +€1,861 | +2.6% |
| Deferred charges and accrued income | 490/1 | €7,299 | €5,523 | -€1,776 | -24.3% |
| Total equity and liabilities | 10/49 | €389,976 | €309,942 | -€80,034 | -20.5% |
| Equity | 10/15 | €255,487 | €281,523 | +€26,036 | +10.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €193,487 | €219,523 | +€26,036 | +13.5% |
| Distributable reserves | 133 | €193,487 | €219,523 | +€26,036 | +13.5% |
| Amounts payable | 17/49 | €134,489 | €28,418 | -€106,071 | -78.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €134,489 | €28,418 | -€106,071 | -78.9% |
| Current portion of amounts payable after more than one year | 42 | €60,801 | €0 | -€60,801 | -100% |
| Trade debts | 44 | €31,538 | €4,468 | -€27,069 | -85.8% |
| Suppliers | 440/4 | €31,538 | €4,468 | -€27,069 | -85.8% |
| Taxes, remuneration and social security | 45 | €36,723 | €18,523 | -€18,200 | -49.6% |
| Taxes | 450/3 | €10,264 | €13,580 | +€3,316 | +32.3% |
| Remuneration and social security | 454/9 | €26,459 | €4,943 | -€21,516 | -81.3% |
| Other amounts payable | 47/48 | €5,427 | €5,427 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €7,543 | +€7,543 | |
| Remuneration, social security and pensions | 62 | €124,817 | €68,196 | -€56,620 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,941 | €7,371 | -€14,570 | -66.4% |
| Other operating charges | 640/8 | €40,599 | €12,904 | -€27,695 | -68.2% |
| Non-recurring operating charges | 66A | - | €7,260 | +€7,260 | |
| Gross operating margin | 9900 | €249,232 | €136,086 | -€113,146 | -45.4% |
| Operating profit (loss) | 9901 | €61,876 | €40,354 | -€21,521 | -34.8% |
| Financial income | 75/76B | €1,085 | €1,279 | +€193 | +17.8% |
| Recurring financial income | 75 | €1,085 | €1,279 | +€193 | +17.8% |
| Financial charges | 65/66B | €8,364 | €5,313 | -€3,050 | -36.5% |
| Recurring financial charges | 65 | €8,364 | €5,313 | -€3,050 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €54,598 | €36,320 | -€18,278 | -33.5% |
| Income taxes | 67/77 | €5,921 | €10,283 | +€4,362 | +73.7% |
| Profit (loss) for the period | 9904 | €48,677 | €26,036 | -€22,640 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,677 | €26,036 | -€22,640 | -46.5% |
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.