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 -€1.0m
down €1.0m (-80.8%), from €1.3m to €245,030
- Current investments +€579,850
new in 2025: €579,850
- Cash +€362,214
up €362,214 (+574%), from €63,135 to €425,350
mainly Investment in fixed assets (net) (+€1.0m) and Depreciation (+€10,539)
- Profit (loss) carried forward -€81,628
down €81,628 (-51.2%), from -€159,413 to -€241,041
- Other operating charges +€61,493
up €61,493 (+534%), from €11,510 to €73,004
- Depreciation -€50,434
down €50,434 (-82.7%), from €60,973 to €10,539
- Gross operating margin -€49,672
down €49,672, from €44,143 to -€5,529
- Financial income +€7,541
new in 2025: €7,541
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 | €1,340,313 | €1,252,492 | -€87,821 | -6.6% |
| Fixed assets | 21/28 | €1,275,032 | €245,030 | -€1.0m | -80.8% |
| Tangible fixed assets | 22/27 | €1,275,032 | €245,030 | -€1.0m | -80.8% |
| Land and buildings | 22 | €1,275,032 | €245,030 | -€1.0m | -80.8% |
| Current assets | 29/58 | €65,282 | €1,007,462 | +€942,180 | +1,443% |
| Amounts receivable within one year | 40/41 | €735 | €2,262 | +€1,528 | +208% |
| Trade receivables | 40 | €735 | - | -€735 | |
| Other amounts receivable | 41 | - | €2,262 | +€2,262 | |
| Current investments | 50/53 | - | €579,850 | +€579,850 | |
| Cash at bank and in hand | 54/58 | €63,135 | €425,350 | +€362,214 | +574% |
| Deferred charges and accrued income | 490/1 | €1,412 | - | -€1,412 | |
| Total equity and liabilities | 10/49 | €1,340,313 | €1,252,492 | -€87,821 | -6.6% |
| Equity | 10/15 | €1,228,587 | €1,146,959 | -€81,628 | -6.6% |
| Contributions | 10/11 | €1,388,000 | €1,388,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,413 | -€241,041 | -€81,628 | -51.2% |
| Amounts payable | 17/49 | €111,726 | €105,534 | -€6,193 | -5.5% |
| Amounts payable after more than one year | 17 | €2,540 | €950 | -€1,590 | -62.6% |
| Other amounts payable | 178/9 | €2,540 | €950 | -€1,590 | -62.6% |
| Amounts payable within one year | 42/48 | €109,186 | €104,584 | -€4,603 | -4.2% |
| Other amounts payable | 47/48 | €109,186 | €104,584 | -€4,603 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,973 | €10,539 | -€50,434 | -82.7% |
| Other operating charges | 640/8 | €11,510 | €73,004 | +€61,493 | +534% |
| Gross operating margin | 9900 | €44,143 | -€5,529 | -€49,672 | |
| Operating profit (loss) | 9901 | -€28,341 | -€89,072 | -€60,732 | -214% |
| Financial income | 75/76B | - | €7,541 | +€7,541 | |
| Recurring financial income | 75 | - | €7,541 | +€7,541 | |
| Financial charges | 65/66B | €96 | €97 | +€1 | +0.9% |
| Recurring financial charges | 65 | €96 | €97 | +€1 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,437 | -€81,628 | -€53,192 | -187% |
| Profit (loss) for the period | 9904 | -€28,437 | -€81,628 | -€53,192 | -187% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,437 | -€81,628 | -€53,192 | -187% |
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 16 October 2026 via checked.be.