BENOÎT VERHEYDEN: what changed
What changed
BENOÎT VERHEYDEN
NACE 43.212, Electrical installation work in industrial facilities
filed annual accounts (NBB)
Net result for the year
€11,384
2024 · €71,776-€60,391
Equity
€229,384
2024 · €218,000+€11,384
Cash
€62,237
2024 · €78,520-€16,284
Balance sheet total
€1.7m
2024 · €1.1m+€535,810
Largest movements
Assets
- Tangible fixed assets +€547,543
up €547,543 (+59.9%), from €913,773 to €1.5m
of which Land and buildings: +€494,989
Equity and liabilities
- Debts after one year +€502,520
up €502,520 (+66.2%), from €759,457 to €1.3m
- Other debts -€74,068
down €74,068 (-81.1%), from €91,277 to €17,210
- Current portion of long-term debt +€45,094
up €45,094 (+100%), from €45,000 to €90,094
- Provisions +€44,400
new in 2025: €44,400
Income statement
- Gross operating margin +€81,404
up €81,404 (+47.0%), from €173,368 to €254,772
- Other operating charges +€66,425
up €66,425 (+1,741%), from €3,815 to €70,240
- Provisions +€44,400
new in 2025: €44,400
- Depreciation +€19,181
up €19,181 (+30.2%), from €63,418 to €82,600
- Financial charges +€14,683
up €14,683 (+70.7%), from €20,755 to €35,438
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€71,776
Gross operating margin
+€81,404
Depreciation
-€19,181
Write-downs
-€129
Provisions
-€44,400
Other operating charges
-€66,425
Other operating items
+€1,520
Financial income
+€2,114
Financial charges
-€14,683
Taxes
-€610
Result 2025
€11,384
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€66,244
Investment
-€630,142
Financing
+€547,614
Cash 2024
€78,520
From operations (derived)
+€66,244
Net result for the year
+€11,384
Depreciation
+€82,600
Stocks and contracts
+€10,931
Receivables within one year
-€13,977
Smaller working-capital items
-€1,303
Provisions
+€44,400
Other debts
-€74,068
Accrued charges and deferred income
+€6,277
Investment (derived)
-€630,142
Investment in fixed assets (net)
-€630,142
Financing
+€547,614
Debts after one year
+€502,520
Current portion of long-term debt
+€45,094
Cash 2025
€62,237
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,131,722 | €1,667,531 | +€535,810 | +47.3% |
| Fixed assets | 21/28 | €913,773 | €1,461,316 | +€547,543 | +59.9% |
| Tangible fixed assets | 22/27 | €913,773 | €1,461,316 | +€547,543 | +59.9% |
| Land and buildings | 22 | €865,217 | €1,360,206 | +€494,989 | +57.2% |
| Plant, machinery and equipment | 23 | €17,392 | €9,537 | -€7,855 | -45.2% |
| Furniture and vehicles | 24 | €31,164 | €91,573 | +€60,409 | +194% |
| Current assets | 29/58 | €217,949 | €206,215 | -€11,733 | -5.4% |
| Stocks and contracts in progress | 3 | €77,531 | €66,600 | -€10,931 | -14.1% |
| Stocks | 30/36 | €77,531 | €66,600 | -€10,931 | -14.1% |
| Amounts receivable within one year | 40/41 | €59,913 | €73,889 | +€13,977 | +23.3% |
| Trade receivables | 40 | €32,114 | €68,716 | +€36,602 | +114% |
| Other amounts receivable | 41 | €27,799 | €5,173 | -€22,626 | -81.4% |
| Cash at bank and in hand | 54/58 | €78,520 | €62,237 | -€16,284 | -20.7% |
| Deferred charges and accrued income | 490/1 | €1,985 | €3,490 | +€1,505 | +75.8% |
| Total equity and liabilities | 10/49 | €1,131,722 | €1,667,531 | +€535,810 | +47.3% |
| Equity | 10/15 | €218,000 | €229,384 | +€11,384 | +5.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €208,000 | €218,000 | +€10,000 | +4.8% |
| Distributable reserves | 133 | €208,000 | €218,000 | +€10,000 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €1,384 | +€1,384 | |
| Provisions and deferred taxes | 16 | - | €44,400 | +€44,400 | |
| Provisions for liabilities and charges | 160/5 | - | €44,400 | +€44,400 | |
| Other liabilities and charges | 164/5 | - | €44,400 | +€44,400 | |
| Amounts payable | 17/49 | €913,722 | €1,393,747 | +€480,025 | +52.5% |
| Amounts payable after more than one year | 17 | €759,457 | €1,261,977 | +€502,520 | +66.2% |
| Financial debts | 170/4 | €759,457 | €1,261,977 | +€502,520 | +66.2% |
| Amounts payable within one year | 42/48 | €145,598 | €116,826 | -€28,772 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €45,000 | €90,094 | +€45,094 | +100% |
| Trade debts | 44 | €8,189 | €8,414 | +€224 | +2.7% |
| Suppliers | 440/4 | €8,189 | €8,414 | +€224 | +2.7% |
| Taxes, remuneration and social security | 45 | €1,131 | €1,108 | -€23 | -2.0% |
| Taxes | 450/3 | €1,131 | €1,108 | -€23 | -2.0% |
| Other amounts payable | 47/48 | €91,277 | €17,210 | -€74,068 | -81.1% |
| Accrued charges and deferred income | 492/3 | €8,667 | €14,944 | +€6,277 | +72.4% |
| Non-recurring operating income | 76A | - | €827 | +€827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,418 | €82,600 | +€19,181 | +30.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €129 | +€129 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €44,400 | +€44,400 | |
| Other operating charges | 640/8 | €3,815 | €70,240 | +€66,425 | +1,741% |
| Non-recurring operating charges | 66A | €1,520 | €0 | -€1,520 | -100% |
| Gross operating margin | 9900 | €173,368 | €254,772 | +€81,404 | +47.0% |
| Operating profit (loss) | 9901 | €104,614 | €57,403 | -€47,211 | -45.1% |
| Financial income | 75/76B | €4,245 | €6,358 | +€2,114 | +49.8% |
| Recurring financial income | 75 | €4,245 | €6,358 | +€2,114 | +49.8% |
| Financial charges | 65/66B | €20,755 | €35,438 | +€14,683 | +70.7% |
| Recurring financial charges | 65 | €20,755 | €35,438 | +€14,683 | +70.7% |
| Profit (loss) for the period before taxes | 9903 | €88,104 | €28,323 | -€59,781 | -67.9% |
| Income taxes | 67/77 | €16,328 | €16,939 | +€610 | +3.7% |
| Profit (loss) for the period | 9904 | €71,776 | €11,384 | -€60,391 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,776 | €11,384 | -€60,391 | -84.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.