VERMOET: what changed
VERMOET
Largest movements
- Cash -€33,619
down €33,619 (-53.1%), from €63,309 to €29,690
mainly Net result for the year (-€32,579) and Receivables within one year (-€7,317)
- Receivables within one year +€7,317
up €7,317 (+8.7%), from €83,814 to €91,131
of which Trade receivables: +€12,714
- Tangible fixed assets -€6,107
down €6,107 (-1.7%), from €352,397 to €346,290
of which Land and buildings: -€5,321
- Deferred charges and accrued income -€5,613
no longer reported in 2026 (was €5,613)
- Reserves -€32,579
down €32,579 (-7.1%), from €457,733 to €425,153
of which Distributable reserves: -€32,579
- Gross operating margin -€33,204
down €33,204, from €14,343 to -€18,862
- Staff costs -€6,941
down €6,941 (-74.1%), from €9,372 to €2,430
- Other operating charges -€4,490
down €4,490 (-48.1%), from €9,332 to €4,841
- Financial income -€3,557
down €3,557 (-93.3%), from €3,811 to €254
- Depreciation -€2,085
down €2,085 (-25.5%), from €8,192 to €6,107
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 | €518,455 | €480,934 | -€37,521 | -7.2% |
| Fixed assets | 21/28 | €364,247 | €358,640 | -€5,607 | -1.5% |
| Tangible fixed assets | 22/27 | €352,397 | €346,290 | -€6,107 | -1.7% |
| Land and buildings | 22 | €350,198 | €344,877 | -€5,321 | -1.5% |
| Furniture and vehicles | 24 | €2,199 | €1,413 | -€786 | -35.7% |
| Financial fixed assets | 28 | €11,850 | €12,350 | +€500 | +4.2% |
| Current assets | 29/58 | €154,208 | €122,293 | -€31,915 | -20.7% |
| Stocks and contracts in progress | 3 | €1,472 | €1,472 | = | 0.0% |
| Stocks | 30/36 | €1,472 | €1,472 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €83,814 | €91,131 | +€7,317 | +8.7% |
| Trade receivables | 40 | €3,197 | €15,911 | +€12,714 | +398% |
| Other amounts receivable | 41 | €80,617 | €75,221 | -€5,397 | -6.7% |
| Cash at bank and in hand | 54/58 | €63,309 | €29,690 | -€33,619 | -53.1% |
| Deferred charges and accrued income | 490/1 | €5,613 | - | -€5,613 | |
| Total equity and liabilities | 10/49 | €518,455 | €480,934 | -€37,521 | -7.2% |
| Equity | 10/15 | €476,325 | €443,745 | -€32,579 | -6.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €457,733 | €425,153 | -€32,579 | -7.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €452,899 | €420,319 | -€32,579 | -7.2% |
| Amounts payable | 17/49 | €42,130 | €37,188 | -€4,942 | -11.7% |
| Amounts payable within one year | 42/48 | €42,130 | €37,188 | -€4,942 | -11.7% |
| Trade debts | 44 | €8,443 | €4,658 | -€3,784 | -44.8% |
| Suppliers | 440/4 | €8,443 | €4,658 | -€3,784 | -44.8% |
| Taxes, remuneration and social security | 45 | €33,688 | €32,530 | -€1,158 | -3.4% |
| Taxes | 450/3 | €1,400 | €1,400 | = | 0.0% |
| Remuneration and social security | 454/9 | €32,288 | €31,130 | -€1,158 | -3.6% |
| Remuneration, social security and pensions | 62 | €9,372 | €2,430 | -€6,941 | -74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,192 | €6,107 | -€2,085 | -25.5% |
| Other operating charges | 640/8 | €9,332 | €4,841 | -€4,490 | -48.1% |
| Gross operating margin | 9900 | €14,343 | -€18,862 | -€33,204 | |
| Operating profit (loss) | 9901 | -€12,552 | -€32,240 | -€19,687 | -157% |
| Financial income | 75/76B | €3,811 | €254 | -€3,557 | -93.3% |
| Recurring financial income | 75 | €3,811 | €254 | -€3,557 | -93.3% |
| Financial charges | 65/66B | €173 | €323 | +€151 | +87.4% |
| Recurring financial charges | 65 | €173 | €323 | +€151 | +87.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,914 | -€32,309 | -€23,395 | -262% |
| Income taxes | 67/77 | €113 | €270 | +€158 | +140% |
| Profit (loss) for the period | 9904 | -€9,026 | -€32,579 | -€23,553 | -261% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,026 | -€32,579 | -€23,553 | -261% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.