VERMOTRANS: 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.
VERMOTRANS
Largest movements
- Tangible fixed assets +€42,071
up €42,071 (+76.8%), from €54,751 to €96,822
of which Furniture and vehicles: +€44,958
- Cash +€7,516
up €7,516 (+12.7%), from €59,024 to €66,540
mainly Other debts (+€48,279) and Depreciation (+€36,275)
- Other debts +€48,279
up €48,279 (+7,596%), from €636 to €48,914
- Reserves -€32,384
down €32,384 (-35.9%), from €90,330 to €57,946
- Debts after one year +€31,961
new in 2025: €31,961
- Trade debts -€7,955
down €7,955 (-50.7%), from €15,691 to €7,736
- Tax, wage and social debts +€5,782
up €5,782 (+156%), from €3,701 to €9,482
of which Taxes: +€5,182
- Depreciation +€13,828
up €13,828 (+61.6%), from €22,447 to €36,275
- Gross operating margin +€12,292
up €12,292 (+18.8%), from €65,213 to €77,506
- Taxes -€1,755
down €1,755 (-22.5%), from €7,801 to €6,046
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 | €136,897 | €187,185 | +€50,287 | +36.7% |
| Fixed assets | 21/28 | €55,184 | €97,255 | +€42,071 | +76.2% |
| Tangible fixed assets | 22/27 | €54,751 | €96,822 | +€42,071 | +76.8% |
| Land and buildings | 22 | €4,311 | €3,104 | -€1,207 | -28.0% |
| Plant, machinery and equipment | 23 | €3,671 | €1,991 | -€1,680 | -45.8% |
| Furniture and vehicles | 24 | €46,770 | €91,727 | +€44,958 | +96.1% |
| Financial fixed assets | 28 | €433 | €433 | = | 0.0% |
| Current assets | 29/58 | €81,714 | €89,930 | +€8,216 | +10.1% |
| Amounts receivable within one year | 40/41 | €20,622 | €21,175 | +€553 | +2.7% |
| Trade receivables | 40 | €17,262 | €17,175 | -€87 | -0.5% |
| Other amounts receivable | 41 | €3,360 | €4,000 | +€640 | +19.1% |
| Cash at bank and in hand | 54/58 | €59,024 | €66,540 | +€7,516 | +12.7% |
| Deferred charges and accrued income | 490/1 | €2,068 | €2,215 | +€147 | +7.1% |
| Total equity and liabilities | 10/49 | €136,897 | €187,185 | +€50,287 | +36.7% |
| Equity | 10/15 | €108,922 | €76,538 | -€32,384 | -29.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €90,330 | €57,946 | -€32,384 | -35.9% |
| Distributable reserves | 133 | €90,330 | €57,946 | -€32,384 | -35.9% |
| Amounts payable | 17/49 | €27,975 | €110,647 | +€82,672 | +296% |
| Amounts payable after more than one year | 17 | - | €31,961 | +€31,961 | |
| Financial debts | 170/4 | - | €31,961 | +€31,961 | |
| Amounts payable within one year | 42/48 | €27,540 | €78,251 | +€50,711 | +184% |
| Current portion of amounts payable after more than one year | 42 | €7,512 | €12,118 | +€4,606 | +61.3% |
| Trade debts | 44 | €15,691 | €7,736 | -€7,955 | -50.7% |
| Suppliers | 440/4 | €15,691 | €7,736 | -€7,955 | -50.7% |
| Taxes, remuneration and social security | 45 | €3,701 | €9,482 | +€5,782 | +156% |
| Taxes | 450/3 | €2,201 | €7,382 | +€5,182 | +235% |
| Remuneration and social security | 454/9 | €1,500 | €2,100 | +€600 | +40.0% |
| Other amounts payable | 47/48 | €636 | €48,914 | +€48,279 | +7,596% |
| Accrued charges and deferred income | 492/3 | €435 | €435 | = | 0.0% |
| Non-recurring operating income | 76A | - | €25,043 | +€25,043 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,447 | €36,275 | +€13,828 | +61.6% |
| Other operating charges | 640/8 | €14,380 | €13,734 | -€645 | -4.5% |
| Gross operating margin | 9900 | €65,213 | €77,506 | +€12,292 | +18.8% |
| Operating profit (loss) | 9901 | €28,386 | €27,496 | -€890 | -3.1% |
| Financial charges | 65/66B | €807 | €1,242 | +€435 | +53.9% |
| Recurring financial charges | 65 | €807 | €1,242 | +€435 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €27,579 | €26,254 | -€1,325 | -4.8% |
| Income taxes | 67/77 | €7,801 | €6,046 | -€1,755 | -22.5% |
| Profit (loss) for the period | 9904 | €19,778 | €20,208 | +€430 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,778 | €20,208 | +€430 | +2.2% |
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 15 October 2026 via checked.be.