VERMYN: 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.
VERMYN
Largest movements
- Cash -€27,509
down €27,509 (-10.3%), from €267,768 to €240,259
mainly Trade debts (-€538,243) and Investment in fixed assets (net) (-€101,868)
- Trade debts -€538,243
down €538,243 (-99.9%), from €538,606 to €363
- Debts after one year +€432,296
up €432,296 (+13,990%), from €3,090 to €435,386
of which Financial debts: +€432,296
- Other debts +€78,366
new in 2025: €78,366
- Reserves -€39,834
down €39,834 (-3.3%), from €1.2m to €1.2m
of which Tax-exempt reserves: -€39,834
- Profit (loss) carried forward +€32,375
up €32,375 (+39.1%), from -€82,846 to -€50,471
- Gross operating margin +€147,777
up €147,777, from -€1,760 to €146,017
- Depreciation +€62,421
up €62,421 (+110%), from €56,521 to €118,942
- Other operating charges +€25,972
up €25,972 (+185%), from €14,028 to €40,000
- Financial charges +€10,227
up €10,227 (+6,274%), from €163 to €10,390
- Financial income -€2,900
down €2,900 (-77.2%), from €3,758 to €858
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 | €2,712,554 | €2,666,231 | -€46,323 | -1.7% |
| Fixed assets | 21/28 | €2,441,438 | €2,424,364 | -€17,074 | -0.7% |
| Tangible fixed assets | 22/27 | €2,370,681 | €2,353,607 | -€17,074 | -0.7% |
| Land and buildings | 22 | €2,341,140 | €2,309,171 | -€31,969 | -1.4% |
| Plant, machinery and equipment | 23 | €2,700 | €2,060 | -€640 | -23.7% |
| Other tangible fixed assets | 26 | €26,841 | €42,376 | +€15,535 | +57.9% |
| Financial fixed assets | 28 | €70,757 | €70,757 | = | 0.0% |
| Current assets | 29/58 | €271,116 | €241,867 | -€29,249 | -10.8% |
| Amounts receivable within one year | 40/41 | €1,608 | €1,608 | = | 0.0% |
| Other amounts receivable | 41 | €1,608 | €1,608 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €267,768 | €240,259 | -€27,509 | -10.3% |
| Deferred charges and accrued income | 490/1 | €1,740 | - | -€1,740 | |
| Total equity and liabilities | 10/49 | €2,712,554 | €2,666,231 | -€46,323 | -1.7% |
| Equity | 10/15 | €1,782,875 | €1,775,416 | -€7,459 | -0.4% |
| Contributions | 10/11 | €644,523 | €644,523 | = | 0.0% |
| Capital | 10 | €644,523 | €644,523 | = | 0.0% |
| Issued capital | 100 | €644,523 | €644,523 | = | 0.0% |
| Reserves | 13 | €1,221,198 | €1,181,364 | -€39,834 | -3.3% |
| Non-distributable reserves | 130/1 | €68,377 | €68,377 | = | 0.0% |
| Legal reserve | 130 | €68,377 | €68,377 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,019,836 | €980,002 | -€39,834 | -3.9% |
| Distributable reserves | 133 | €132,985 | €132,985 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,846 | -€50,471 | +€32,375 | +39.1% |
| Provisions and deferred taxes | 16 | €377,833 | €363,060 | -€14,773 | -3.9% |
| Deferred taxes | 168 | €377,833 | €363,060 | -€14,773 | -3.9% |
| Amounts payable | 17/49 | €551,846 | €527,755 | -€24,091 | -4.4% |
| Amounts payable after more than one year | 17 | €3,090 | €435,386 | +€432,296 | +13,990% |
| Financial debts | 170/4 | - | €432,296 | +€432,296 | |
| Other amounts payable | 178/9 | €3,090 | €3,090 | = | 0.0% |
| Amounts payable within one year | 42/48 | €538,606 | €92,369 | -€446,237 | -82.9% |
| Current portion of amounts payable after more than one year | 42 | - | €13,640 | +€13,640 | |
| Trade debts | 44 | €538,606 | €363 | -€538,243 | -99.9% |
| Suppliers | 440/4 | €538,606 | €363 | -€538,243 | -99.9% |
| Other amounts payable | 47/48 | - | €78,366 | +€78,366 | |
| Accrued charges and deferred income | 492/3 | €10,150 | - | -€10,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,521 | €118,942 | +€62,421 | +110% |
| Other operating charges | 640/8 | €14,028 | €40,000 | +€25,972 | +185% |
| Gross operating margin | 9900 | -€1,760 | €146,017 | +€147,777 | |
| Operating profit (loss) | 9901 | -€72,309 | -€12,925 | +€59,384 | +82.1% |
| Financial income | 75/76B | €3,758 | €858 | -€2,900 | -77.2% |
| Recurring financial income | 75 | €3,758 | €858 | -€2,900 | -77.2% |
| Financial charges | 65/66B | €163 | €10,390 | +€10,227 | +6,274% |
| Recurring financial charges | 65 | €163 | €10,390 | +€10,227 | +6,274% |
| Profit (loss) for the period before taxes | 9903 | -€68,714 | -€22,457 | +€46,257 | +67.3% |
| Transfer from deferred taxes | 780 | €14,312 | €20,045 | +€5,733 | +40.1% |
| Income taxes | 67/77 | - | -€225 | -€225 | |
| Profit (loss) for the period | 9904 | -€54,402 | -€2,187 | +€52,215 | +96.0% |
| Transfer from tax-exempt reserves | 789 | €22,025 | €34,562 | +€12,537 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,377 | €32,375 | +€64,752 |
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 17 October 2026 via checked.be.