HERMAN VERDOODT: 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.
HERMAN VERDOODT
Largest movements
- Receivables within one year +€8,646
up €8,646 (+4.3%), from €200,430 to €209,076
of which Trade receivables: +€8,646
- Tangible fixed assets -€8,473
down €8,473 (-29.2%), from €28,970 to €20,497
- Cash -€2,648
down €2,648 (-91.8%), from €2,886 to €238
mainly Receivables within one year (-€8,646) and Net result for the year (-€4,509)
- Tax, wage and social debts +€6,803
up €6,803 (+173%), from €3,931 to €10,733
of which Remuneration and social security: +€4,200
- Profit (loss) carried forward -€4,509
down €4,509 (-3.4%), from -€132,039 to -€136,547
- Other debts -€2,753
down €2,753 (-9.1%), from €30,287 to €27,535
- Gross operating margin -€12,351
down €12,351 (-61.7%), from €20,015 to €7,665
- Taxes -€1,935
down €1,935 (-61.0%), from €3,172 to €1,237
- Financial charges -€1,604
down €1,604 (-97.4%), from €1,646 to €42
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 | €253,187 | €252,486 | -€702 | -0.3% |
| Fixed assets | 21/28 | €47,477 | €39,004 | -€8,473 | -17.8% |
| Tangible fixed assets | 22/27 | €28,970 | €20,497 | -€8,473 | -29.2% |
| Furniture and vehicles | 24 | €28,970 | €20,497 | -€8,473 | -29.2% |
| Financial fixed assets | 28 | €18,507 | €18,507 | = | 0.0% |
| Current assets | 29/58 | €205,710 | €213,481 | +€7,771 | +3.8% |
| Amounts receivable within one year | 40/41 | €200,430 | €209,076 | +€8,646 | +4.3% |
| Trade receivables | 40 | €200,102 | €208,748 | +€8,646 | +4.3% |
| Other amounts receivable | 41 | €328 | €328 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,886 | €238 | -€2,648 | -91.8% |
| Deferred charges and accrued income | 490/1 | €2,394 | €4,167 | +€1,774 | +74.1% |
| Total equity and liabilities | 10/49 | €253,187 | €252,486 | -€702 | -0.3% |
| Equity | 10/15 | €216,296 | €211,788 | -€4,509 | -2.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €328,335 | €328,335 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,130 | €4,130 | = | 0.0% |
| Distributable reserves | 133 | €324,205 | €324,205 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,039 | -€136,547 | -€4,509 | -3.4% |
| Amounts payable | 17/49 | €36,891 | €40,698 | +€3,807 | +10.3% |
| Amounts payable within one year | 42/48 | €35,780 | €40,698 | +€4,918 | +13.7% |
| Trade debts | 44 | €1,561 | €2,430 | +€868 | +55.6% |
| Suppliers | 440/4 | €1,561 | €2,430 | +€868 | +55.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,931 | €10,733 | +€6,803 | +173% |
| Taxes | 450/3 | €3,931 | €6,533 | +€2,603 | +66.2% |
| Remuneration and social security | 454/9 | €0 | €4,200 | +€4,200 | |
| Other amounts payable | 47/48 | €30,287 | €27,535 | -€2,753 | -9.1% |
| Accrued charges and deferred income | 492/3 | €1,111 | €0 | -€1,111 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,100 | €9,175 | +€75 | +0.8% |
| Other operating charges | 640/8 | €1,778 | €1,719 | -€59 | -3.3% |
| Gross operating margin | 9900 | €20,015 | €7,665 | -€12,351 | -61.7% |
| Operating profit (loss) | 9901 | €9,137 | -€3,230 | -€12,367 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,646 | €42 | -€1,604 | -97.4% |
| Recurring financial charges | 65 | €1,646 | €42 | -€1,604 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €7,491 | -€3,272 | -€10,763 | |
| Income taxes | 67/77 | €3,172 | €1,237 | -€1,935 | -61.0% |
| Profit (loss) for the period | 9904 | €4,320 | -€4,509 | -€8,828 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,320 | -€4,509 | -€8,828 |
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 29 October 2026 via checked.be.