MT Verhegge: 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.
MT Verhegge
Largest movements
- Tangible fixed assets +€169,849
up €169,849 (+14.6%), from €1.2m to €1.3m
of which Plant, machinery and equipment: +€154,626
- Cash +€101,685
up €101,685 (+216%), from €47,178 to €148,863
mainly Net result for the year (+€373,315) and Depreciation (+€204,781)
- Receivables within one year +€39,452
up €39,452 (+10.1%), from €390,764 to €430,217
of which Trade receivables: +€40,796
- Reserves +€173,315
up €173,315 (+59.2%), from €292,538 to €465,853
- Other debts +€76,101
up €76,101 (+16.4%), from €465,157 to €541,259
- Debts after one year +€73,061
up €73,061 (+12.4%), from €589,173 to €662,234
- Tax, wage and social debts -€61,375
down €61,375 (-69.3%), from €88,558 to €27,183
of which Remuneration and social security: -€39,716
- Current portion of long-term debt +€40,852
up €40,852 (+27.2%), from €149,958 to €190,810
- Staff costs -€132,986
down €132,986 (-54.4%), from €244,523 to €111,538
- Gross operating margin +€60,501
up €60,501 (+8.3%), from €732,295 to €792,796
- Depreciation +€19,523
up €19,523 (+10.5%), from €185,258 to €204,781
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 | €1,679,854 | €1,993,573 | +€313,719 | +18.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,168,002 | €1,337,851 | +€169,849 | +14.5% |
| Tangible fixed assets | 22/27 | €1,167,002 | €1,336,851 | +€169,849 | +14.6% |
| Plant, machinery and equipment | 23 | €438,384 | €593,010 | +€154,626 | +35.3% |
| Furniture and vehicles | 24 | €5,888 | €7,375 | +€1,487 | +25.2% |
| Leasing and similar rights | 25 | €722,729 | €736,466 | +€13,737 | +1.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €511,852 | €655,722 | +€143,870 | +28.1% |
| Stocks and contracts in progress | 3 | €50,000 | €50,000 | = | 0.0% |
| Stocks | 30/36 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €390,764 | €430,217 | +€39,452 | +10.1% |
| Trade receivables | 40 | €387,666 | €428,462 | +€40,796 | +10.5% |
| Other amounts receivable | 41 | €3,098 | €1,755 | -€1,344 | -43.4% |
| Cash at bank and in hand | 54/58 | €47,178 | €148,863 | +€101,685 | +216% |
| Deferred charges and accrued income | 490/1 | €23,910 | €26,643 | +€2,733 | +11.4% |
| Total equity and liabilities | 10/49 | €1,679,854 | €1,993,573 | +€313,719 | +18.7% |
| Equity | 10/15 | €302,538 | €475,853 | +€173,315 | +57.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €292,538 | €465,853 | +€173,315 | +59.2% |
| Distributable reserves | 133 | €292,538 | €465,853 | +€173,315 | +59.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,377,316 | €1,517,721 | +€140,405 | +10.2% |
| Amounts payable after more than one year | 17 | €589,173 | €662,234 | +€73,061 | +12.4% |
| Financial debts | 170/4 | €589,173 | €662,234 | +€73,061 | +12.4% |
| Amounts payable within one year | 42/48 | €788,136 | €855,486 | +€67,351 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €149,958 | €190,810 | +€40,852 | +27.2% |
| Trade debts | 44 | €84,462 | €96,235 | +€11,772 | +13.9% |
| Suppliers | 440/4 | €84,462 | €96,235 | +€11,772 | +13.9% |
| Taxes, remuneration and social security | 45 | €88,558 | €27,183 | -€61,375 | -69.3% |
| Taxes | 450/3 | €44,997 | €23,338 | -€21,659 | -48.1% |
| Remuneration and social security | 454/9 | €43,561 | €3,845 | -€39,716 | -91.2% |
| Other amounts payable | 47/48 | €465,157 | €541,259 | +€76,101 | +16.4% |
| Accrued charges and deferred income | 492/3 | €7 | €0 | -€7 | -100% |
| Remuneration, social security and pensions | 62 | €244,523 | €111,538 | -€132,986 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,258 | €204,781 | +€19,523 | +10.5% |
| Other operating charges | 640/8 | €387 | €1,168 | +€781 | +202% |
| Non-recurring operating charges | 66A | - | €33,256 | +€33,256 | |
| Gross operating margin | 9900 | €732,295 | €792,796 | +€60,501 | +8.3% |
| Operating profit (loss) | 9901 | €302,126 | €442,053 | +€139,927 | +46.3% |
| Financial income | 75/76B | €682 | €2,212 | +€1,531 | +225% |
| Recurring financial income | 75 | €682 | €2,212 | +€1,531 | +225% |
| Financial charges | 65/66B | €28,002 | €25,412 | -€2,590 | -9.2% |
| Recurring financial charges | 65 | €28,002 | €25,412 | -€2,590 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €274,806 | €418,853 | +€144,047 | +52.4% |
| Income taxes | 67/77 | €48,985 | €45,538 | -€3,447 | -7.0% |
| Profit (loss) for the period | 9904 | €225,821 | €373,315 | +€147,494 | +65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €225,821 | €373,315 | +€147,494 | +65.3% |
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 20 October 2026 via checked.be.