SVEN VERHEYDEN: what changed
SVEN VERHEYDEN
Largest movements
- Receivables within one year -€17,397
down €17,397 (-63.5%), from €27,385 to €9,987
of which Trade receivables: -€14,691
- Cash -€15,452
down €15,452 (-54.8%), from €28,214 to €12,762
mainly Trade debts (-€36,090) and Investment in fixed assets (net) (-€11,169)
- Tangible fixed assets +€5,907
up €5,907 (+51.8%), from €11,397 to €17,304
of which Land and buildings: +€8,475
- Trade debts -€36,090
down €36,090 (-97.2%), from €37,119 to €1,028
- Reserves +€7,950
up €7,950 (+67.1%), from €11,849 to €19,798
- Tax, wage and social debts +€1,000
new in 2025: €1,000
- Financial income +€3,303
up €3,303 (+1,762%), from €187 to €3,491
of which Non-recurring financial income: +€3,345
- Other operating charges -€2,999
down €2,999 (-86.9%), from €3,450 to €451
- Taxes +€1,080
up €1,080 (+85.0%), from €1,270 to €2,350
- Depreciation -€530
down €530 (-9.1%), from €5,791 to €5,262
- Gross operating margin +€439
up €439 (+3.6%), from €12,165 to €12,604
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,672 | €41,812 | -€26,860 | -39.1% |
| Fixed assets | 21/28 | €11,397 | €17,304 | +€5,907 | +51.8% |
| Tangible fixed assets | 22/27 | €11,397 | €17,304 | +€5,907 | +51.8% |
| Land and buildings | 22 | - | €8,475 | +€8,475 | |
| Plant, machinery and equipment | 23 | €1,995 | €3,803 | +€1,809 | +90.7% |
| Furniture and vehicles | 24 | €9,402 | €5,026 | -€4,376 | -46.5% |
| Current assets | 29/58 | €57,276 | €24,508 | -€32,768 | -57.2% |
| Amounts receivable within one year | 40/41 | €27,385 | €9,987 | -€17,397 | -63.5% |
| Trade receivables | 40 | €22,102 | €7,411 | -€14,691 | -66.5% |
| Other amounts receivable | 41 | €5,283 | €2,576 | -€2,707 | -51.2% |
| Cash at bank and in hand | 54/58 | €28,214 | €12,762 | -€15,452 | -54.8% |
| Deferred charges and accrued income | 490/1 | €1,677 | €1,758 | +€81 | +4.8% |
| Total equity and liabilities | 10/49 | €68,672 | €41,812 | -€26,860 | -39.1% |
| Equity | 10/15 | €30,449 | €38,398 | +€7,950 | +26.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,849 | €19,798 | +€7,950 | +67.1% |
| Distributable reserves | 133 | €11,849 | €19,798 | +€7,950 | +67.1% |
| Amounts payable | 17/49 | €38,224 | €3,414 | -€34,810 | -91.1% |
| Amounts payable within one year | 42/48 | €38,224 | €3,414 | -€34,810 | -91.1% |
| Trade debts | 44 | €37,119 | €1,028 | -€36,090 | -97.2% |
| Suppliers | 440/4 | €37,119 | €1,028 | -€36,090 | -97.2% |
| Taxes, remuneration and social security | 45 | - | €1,000 | +€1,000 | |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €1,105 | €1,385 | +€280 | +25.4% |
| Non-recurring operating income | 76A | - | €2,422 | +€2,422 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,791 | €5,262 | -€530 | -9.1% |
| Other operating charges | 640/8 | €3,450 | €451 | -€2,999 | -86.9% |
| Gross operating margin | 9900 | €12,165 | €12,604 | +€439 | +3.6% |
| Operating profit (loss) | 9901 | €2,924 | €6,891 | +€3,967 | +136% |
| Financial income | 75/76B | €187 | €3,491 | +€3,303 | +1,762% |
| Recurring financial income | 75 | €187 | €145 | -€42 | -22.6% |
| Non-recurring financial income | 76B | - | €3,345 | +€3,345 | |
| Financial charges | 65/66B | €83 | €82 | -€1 | -0.7% |
| Recurring financial charges | 65 | €83 | €82 | -€1 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €3,029 | €10,300 | +€7,271 | +240% |
| Income taxes | 67/77 | €1,270 | €2,350 | +€1,080 | +85.0% |
| Profit (loss) for the period | 9904 | €1,759 | €7,950 | +€6,191 | +352% |
| Profit (loss) for the period to be appropriated | 9905 | €1,759 | €7,950 | +€6,191 | +352% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.