AA VERHOEVEN: 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.
AA VERHOEVEN
Largest movements
- Receivables within one year +€9,022
up €9,022 (+2.7%), from €332,666 to €341,689
of which Trade receivables: +€9,022
- Short-term financial debts +€156,189
up €156,189 (+1,650%), from €9,464 to €165,653
- Current portion of long-term debt -€155,000
down €155,000 (-79.5%), from €195,000 to €40,000
- Trade debts +€17,010
up €17,010 (+10.4%), from €163,998 to €181,008
- Profit (loss) carried forward -€12,987
down €12,987 (-32.4%), from -€40,064 to -€53,050
- Tax, wage and social debts -€11,226
down €11,226 (-13.5%), from €82,990 to €71,764
of which Taxes: -€20,978
- Gross operating margin -€16,031
down €16,031 (-9.3%), from €171,878 to €155,847
- Other operating charges -€12,471
down €12,471 (-74.6%), from €16,710 to €4,239
- Taxes +€9,676
up €9,676 (+1,063%), from €911 to €10,587
- Staff costs +€8,804
up €8,804 (+7.0%), from €126,059 to €134,862
- Financial charges +€3,701
up €3,701 (+22.3%), from €16,615 to €20,316
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 | €546,289 | €551,777 | +€5,488 | +1.0% |
| Fixed assets | 21/28 | €8,536 | €8,536 | = | 0.0% |
| Tangible fixed assets | 22/27 | €8,536 | €8,536 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,536 | €8,536 | = | 0.0% |
| Current assets | 29/58 | €537,754 | €543,241 | +€5,488 | +1.0% |
| Stocks and contracts in progress | 3 | €195,539 | €195,539 | = | 0.0% |
| Stocks | 30/36 | €195,539 | €195,539 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €332,666 | €341,689 | +€9,022 | +2.7% |
| Trade receivables | 40 | €324,593 | €333,615 | +€9,022 | +2.8% |
| Other amounts receivable | 41 | €8,074 | €8,074 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,548 | €6,014 | -€3,534 | -37.0% |
| Total equity and liabilities | 10/49 | €546,289 | €551,777 | +€5,488 | +1.0% |
| Equity | 10/15 | €94,285 | €81,298 | -€12,987 | -13.8% |
| Contributions | 10/11 | €131,250 | €131,250 | = | 0.0% |
| Capital | 10 | €131,250 | €131,250 | = | 0.0% |
| Issued capital | 100 | €131,250 | €131,250 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,064 | -€53,050 | -€12,987 | -32.4% |
| Amounts payable | 17/49 | €452,004 | €470,479 | +€18,475 | +4.1% |
| Amounts payable after more than one year | 17 | €504 | €0 | -€504 | -100% |
| Financial debts | 170/4 | €504 | €0 | -€504 | -100% |
| Amounts payable within one year | 42/48 | €451,500 | €467,704 | +€16,204 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €195,000 | €40,000 | -€155,000 | -79.5% |
| Financial debts | 43 | €9,464 | €165,653 | +€156,189 | +1,650% |
| Credit institutions | 430/8 | €9,464 | €165,653 | +€156,189 | +1,650% |
| Trade debts | 44 | €163,998 | €181,008 | +€17,010 | +10.4% |
| Suppliers | 440/4 | €163,998 | €181,008 | +€17,010 | +10.4% |
| Taxes, remuneration and social security | 45 | €82,990 | €71,764 | -€11,226 | -13.5% |
| Taxes | 450/3 | €55,176 | €34,198 | -€20,978 | -38.0% |
| Remuneration and social security | 454/9 | €27,814 | €37,566 | +€9,752 | +35.1% |
| Other amounts payable | 47/48 | €48 | €9,279 | +€9,232 | +19,394% |
| Accrued charges and deferred income | 492/3 | - | €2,774 | +€2,774 | |
| Remuneration, social security and pensions | 62 | €126,059 | €134,862 | +€8,804 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €16,710 | €4,239 | -€12,471 | -74.6% |
| Non-recurring operating charges | 66A | - | €77 | +€77 | |
| Gross operating margin | 9900 | €171,878 | €155,847 | -€16,031 | -9.3% |
| Operating profit (loss) | 9901 | €29,110 | €16,669 | -€12,441 | -42.7% |
| Financial income | 75/76B | €209 | €1,247 | +€1,038 | +496% |
| Recurring financial income | 75 | €209 | €1,247 | +€1,038 | +496% |
| Financial charges | 65/66B | €16,615 | €20,316 | +€3,701 | +22.3% |
| Recurring financial charges | 65 | €16,615 | €20,316 | +€3,701 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €12,704 | -€2,400 | -€15,105 | |
| Income taxes | 67/77 | €911 | €10,587 | +€9,676 | +1,063% |
| Profit (loss) for the period | 9904 | €11,794 | -€12,987 | -€24,781 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,794 | -€12,987 | -€24,781 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.