VERMOESEN: what changed
VERMOESEN
Largest movements
- Receivables within one year +€67,509
up €67,509 (+832%), from €8,114 to €75,623
of which Trade receivables: +€60,562
- Cash +€21,898
up €21,898 (+91.3%), from €23,984 to €45,882
mainly Trade debts (+€49,765) and Net result for the year (+€27,629)
- Tangible fixed assets -€5,642
down €5,642 (-16.1%), from €35,075 to €29,433
of which Plant, machinery and equipment: -€3,263
- Deferred charges and accrued income -€4,933
down €4,933 (-87.5%), from €5,636 to €703
- Trade debts +€49,765
up €49,765 (+2,842%), from €1,751 to €51,516
- Reserves +€26,867
up €26,867 (+89.0%), from €30,195 to €57,062
- Other debts +€22,224
up €22,224, from €0 to €22,224
- Accrued charges and deferred income -€20,212
down €20,212 (-86.5%), from €23,371 to €3,159
- Debts after one year -€5,085
down €5,085 (-67.5%), from €7,535 to €2,449
- Gross operating margin +€31,707
up €31,707 (+150%), from €21,096 to €52,803
- Taxes +€11,273
up €11,273 (+611%), from €1,846 to €13,118
- Depreciation -€1,772
down €1,772 (-14.8%), from €11,980 to €10,208
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,809 | €151,641 | +€78,832 | +108% |
| Fixed assets | 21/28 | €35,075 | €29,433 | -€5,642 | -16.1% |
| Tangible fixed assets | 22/27 | €35,075 | €29,433 | -€5,642 | -16.1% |
| Plant, machinery and equipment | 23 | €28,354 | €25,091 | -€3,263 | -11.5% |
| Furniture and vehicles | 24 | €6,721 | €4,342 | -€2,379 | -35.4% |
| Current assets | 29/58 | €37,734 | €122,208 | +€84,474 | +224% |
| Amounts receivable within one year | 40/41 | €8,114 | €75,623 | +€67,509 | +832% |
| Trade receivables | 40 | €4,960 | €65,522 | +€60,562 | +1,221% |
| Other amounts receivable | 41 | €3,154 | €10,101 | +€6,947 | +220% |
| Cash at bank and in hand | 54/58 | €23,984 | €45,882 | +€21,898 | +91.3% |
| Deferred charges and accrued income | 490/1 | €5,636 | €703 | -€4,933 | -87.5% |
| Total equity and liabilities | 10/49 | €72,809 | €151,641 | +€78,832 | +108% |
| Equity | 10/15 | €40,152 | €66,922 | +€26,770 | +66.7% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €30,195 | €57,062 | +€26,867 | +89.0% |
| Distributable reserves | 133 | €30,195 | €57,062 | +€26,867 | +89.0% |
| Profit (loss) carried forward | 14 | €1,757 | €1,660 | -€97 | -5.5% |
| Amounts payable | 17/49 | €32,657 | €84,719 | +€52,062 | +159% |
| Amounts payable after more than one year | 17 | €7,535 | €2,449 | -€5,085 | -67.5% |
| Financial debts | 170/4 | €7,535 | €2,449 | -€5,085 | -67.5% |
| Amounts payable within one year | 42/48 | €1,751 | €79,110 | +€77,359 | +4,418% |
| Current portion of amounts payable after more than one year | 42 | €0 | €2,331 | +€2,331 | |
| Trade debts | 44 | €1,751 | €51,516 | +€49,765 | +2,842% |
| Suppliers | 440/4 | €1,751 | €51,516 | +€49,765 | +2,842% |
| Taxes, remuneration and social security | 45 | - | €3,039 | +€3,039 | |
| Taxes | 450/3 | - | €3,039 | +€3,039 | |
| Other amounts payable | 47/48 | €0 | €22,224 | +€22,224 | |
| Accrued charges and deferred income | 492/3 | €23,371 | €3,159 | -€20,212 | -86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,980 | €10,208 | -€1,772 | -14.8% |
| Other operating charges | 640/8 | €1,694 | €1,286 | -€408 | -24.1% |
| Gross operating margin | 9900 | €21,096 | €52,803 | +€31,707 | +150% |
| Operating profit (loss) | 9901 | €7,422 | €41,309 | +€33,887 | +457% |
| Financial charges | 65/66B | €741 | €561 | -€179 | -24.2% |
| Recurring financial charges | 65 | €741 | €561 | -€179 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €6,681 | €40,748 | +€34,067 | +510% |
| Income taxes | 67/77 | €1,846 | €13,118 | +€11,273 | +611% |
| Profit (loss) for the period | 9904 | €4,835 | €27,629 | +€22,794 | +471% |
| Profit (loss) for the period to be appropriated | 9905 | €4,835 | €27,629 | +€22,794 | +471% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.