JOHAN VERHAERT: 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.
JOHAN VERHAERT
Largest movements
- Deferred charges and accrued income +€7,372
up €7,372 (+40,799%), from €18 to €7,390
- Cash -€5,351
down €5,351 (-72.3%), from €7,400 to €2,049
mainly Deferred charges and accrued income (-€7,372) and Trade debts (-€3,813)
- Receivables within one year -€3,669
down €3,669 (-37.8%), from €9,705 to €6,036
of which Trade receivables: -€3,827
- Tangible fixed assets -€1,538
down €1,538 (-32.3%), from €4,763 to €3,226
of which Furniture and vehicles: -€1,196
- Trade debts -€3,813
down €3,813 (-78.3%), from €4,872 to €1,059
- Profit (loss) carried forward +€392
up €392 (+4.9%), from €8,039 to €8,431
- Other debts +€318
up €318 (+7.9%), from €4,036 to €4,354
- Taxes -€1,456
down €1,456, from €1,373 to -€82
- Depreciation +€1,170
up €1,170 (+318%), from €368 to €1,538
- Gross operating margin -€709
down €709 (-21.3%), from €3,330 to €2,621
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 | €21,887 | €18,701 | -€3,185 | -14.6% |
| Fixed assets | 21/28 | €4,763 | €3,226 | -€1,538 | -32.3% |
| Tangible fixed assets | 22/27 | €4,763 | €3,226 | -€1,538 | -32.3% |
| Plant, machinery and equipment | 23 | €1,201 | €859 | -€341 | -28.4% |
| Furniture and vehicles | 24 | €3,563 | €2,366 | -€1,196 | -33.6% |
| Current assets | 29/58 | €17,123 | €15,476 | -€1,648 | -9.6% |
| Amounts receivable within one year | 40/41 | €9,705 | €6,036 | -€3,669 | -37.8% |
| Trade receivables | 40 | €8,962 | €5,135 | -€3,827 | -42.7% |
| Other amounts receivable | 41 | €743 | €901 | +€158 | +21.3% |
| Cash at bank and in hand | 54/58 | €7,400 | €2,049 | -€5,351 | -72.3% |
| Deferred charges and accrued income | 490/1 | €18 | €7,390 | +€7,372 | +40,799% |
| Total equity and liabilities | 10/49 | €21,887 | €18,701 | -€3,185 | -14.6% |
| Equity | 10/15 | €12,039 | €12,431 | +€392 | +3.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,039 | €8,431 | +€392 | +4.9% |
| Amounts payable | 17/49 | €9,848 | €6,270 | -€3,578 | -36.3% |
| Amounts payable within one year | 42/48 | €9,848 | €6,270 | -€3,578 | -36.3% |
| Trade debts | 44 | €4,872 | €1,059 | -€3,813 | -78.3% |
| Suppliers | 440/4 | €4,872 | €1,059 | -€3,813 | -78.3% |
| Taxes, remuneration and social security | 45 | €939 | €857 | -€82 | -8.8% |
| Taxes | 450/3 | €939 | €857 | -€82 | -8.8% |
| Other amounts payable | 47/48 | €4,036 | €4,354 | +€318 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368 | €1,538 | +€1,170 | +318% |
| Other operating charges | 640/8 | €656 | €675 | +€19 | +2.9% |
| Gross operating margin | 9900 | €3,330 | €2,621 | -€709 | -21.3% |
| Operating profit (loss) | 9901 | €2,307 | €409 | -€1,898 | -82.3% |
| Financial income | 75/76B | €1 | €5 | +€4 | +733% |
| Recurring financial income | 75 | €1 | €5 | +€4 | +733% |
| Financial charges | 65/66B | €86 | €104 | +€18 | +21.5% |
| Recurring financial charges | 65 | €86 | €104 | +€18 | +21.5% |
| Profit (loss) for the period before taxes | 9903 | €2,222 | €310 | -€1,912 | -86.0% |
| Income taxes | 67/77 | €1,373 | -€82 | -€1,456 | |
| Profit (loss) for the period | 9904 | €848 | €392 | -€456 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €848 | €392 | -€456 | -53.8% |
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 19 October 2026 via checked.be.