VERMUNT: what changed
VERMUNT
Largest movements
- Stocks and contracts -€55,607
no longer reported in 2026 (was €55,607)
- Cash +€53,122
up €53,122 (+203%), from €26,128 to €79,251
mainly Stocks and contracts (+€55,607) and Receivables within one year (+€48,250)
- Receivables within one year -€48,250
down €48,250 (-21.7%), from €221,968 to €173,718
of which Trade receivables: -€96,639
- Receivables after one year +€27,000
up €27,000 (+32.5%), from €83,000 to €110,000
- Tangible fixed assets -€7,985
down €7,985 (-33.1%), from €24,092 to €16,107
- Provisions -€21,525
no longer reported in 2026 (was €21,525)
- Trade debts -€9,592
down €9,592 (-42.4%), from €22,642 to €13,050
- Profit (loss) carried forward +€7,308
up €7,308 (+7.5%), from €96,939 to €104,247
- Other debts -€4,994
down €4,994 (-2.2%), from €230,309 to €225,315
- Current portion of long-term debt -€4,480
down €4,480 (-71.4%), from €6,277 to €1,797
- Gross operating margin -€39,199
down €39,199, from €36,846 to -€2,353
- Provisions -€21,525
new in 2026: -€21,525
- Financial charges -€4,785
down €4,785 (-96.4%), from €4,965 to €181
- Depreciation +€2,472
up €2,472 (+36.5%), from €6,764 to €9,236
- Financial income +€850
up €850 (+50.8%), from €1,674 to €2,524
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €411,795 | €380,076 | -€31,719 | -7.7% |
| Fixed assets | 21/28 | €25,092 | €17,107 | -€7,985 | -31.8% |
| Tangible fixed assets | 22/27 | €24,092 | €16,107 | -€7,985 | -33.1% |
| Furniture and vehicles | 24 | €24,092 | €16,107 | -€7,985 | -33.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €386,703 | €362,969 | -€23,734 | -6.1% |
| Amounts receivable after more than one year | 29 | €83,000 | €110,000 | +€27,000 | +32.5% |
| Other amounts receivable | 291 | €83,000 | €110,000 | +€27,000 | +32.5% |
| Stocks and contracts in progress | 3 | €55,607 | - | -€55,607 | |
| Contracts in progress | 37 | €55,607 | - | -€55,607 | |
| Amounts receivable within one year | 40/41 | €221,968 | €173,718 | -€48,250 | -21.7% |
| Trade receivables | 40 | €214,379 | €117,740 | -€96,639 | -45.1% |
| Other amounts receivable | 41 | €7,589 | €55,978 | +€48,389 | +638% |
| Cash at bank and in hand | 54/58 | €26,128 | €79,251 | +€53,122 | +203% |
| Total equity and liabilities | 10/49 | €411,795 | €380,076 | -€31,719 | -7.7% |
| Equity | 10/15 | €119,432 | €126,741 | +€7,308 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,893 | €3,893 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,033 | €2,033 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,939 | €104,247 | +€7,308 | +7.5% |
| Provisions and deferred taxes | 16 | €21,525 | - | -€21,525 | |
| Provisions for liabilities and charges | 160/5 | €21,525 | - | -€21,525 | |
| Other liabilities and charges | 164/5 | €21,525 | - | -€21,525 | |
| Amounts payable | 17/49 | €270,838 | €253,335 | -€17,503 | -6.5% |
| Amounts payable within one year | 42/48 | €270,838 | €253,335 | -€17,503 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €6,277 | €1,797 | -€4,480 | -71.4% |
| Trade debts | 44 | €22,642 | €13,050 | -€9,592 | -42.4% |
| Suppliers | 440/4 | €22,642 | €13,050 | -€9,592 | -42.4% |
| Taxes, remuneration and social security | 45 | €11,610 | €13,173 | +€1,563 | +13.5% |
| Taxes | 450/3 | €11,610 | €13,173 | +€1,563 | +13.5% |
| Other amounts payable | 47/48 | €230,309 | €225,315 | -€4,994 | -2.2% |
| Non-recurring operating income | 76A | - | €7,707 | +€7,707 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,764 | €9,236 | +€2,472 | +36.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€21,525 | -€21,525 | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €36,846 | -€2,353 | -€39,199 | |
| Operating profit (loss) | 9901 | €29,576 | €9,416 | -€20,160 | -68.2% |
| Financial income | 75/76B | €1,674 | €2,524 | +€850 | +50.8% |
| Recurring financial income | 75 | €1,674 | €2,524 | +€850 | +50.8% |
| Financial charges | 65/66B | €4,965 | €181 | -€4,785 | -96.4% |
| Recurring financial charges | 65 | €4,965 | €181 | -€4,785 | -96.4% |
| Profit (loss) for the period before taxes | 9903 | €26,285 | €11,759 | -€14,526 | -55.3% |
| Income taxes | 67/77 | €5,117 | €4,451 | -€667 | -13.0% |
| Profit (loss) for the period | 9904 | €21,167 | €7,308 | -€13,859 | -65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,167 | €7,308 | -€13,859 | -65.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.