THG VERVIERS: what changed
THG VERVIERS
Largest movements
- Cash +€100,769
up €100,769 (+257%), from €39,252 to €140,021
mainly Receivables within one year (+€88,099) and Net result for the year (+€86,317)
- Receivables within one year -€88,099
down €88,099 (-23.2%), from €379,398 to €291,299
of which Trade receivables: -€88,099
- Deferred charges and accrued income +€25,052
up €25,052 (+178%), from €14,069 to €39,121
- Tangible fixed assets -€16,699
down €16,699 (-15.9%), from €105,150 to €88,452
of which Furniture and vehicles: -€8,475
- Reserves +€105,250
up €105,250 (+570%), from €18,460 to €123,710
of which Tax-exempt reserves: +€105,250
- Current portion of long-term debt -€50,172
down €50,172 (-82.5%), from €60,805 to €10,633
- Tax, wage and social debts -€33,861
down €33,861 (-30.4%), from €111,499 to €77,637
of which Taxes: -€17,268
- Other debts +€24,447
up €24,447 (+4,417%), from €553 to €25,000
- Profit (loss) carried forward -€18,933
down €18,933 (-37.5%), from €50,521 to €31,588
- Gross operating margin +€121,338
up €121,338 (+26.0%), from €467,313 to €588,650
- Staff costs +€40,480
up €40,480 (+10.0%), from €403,263 to €443,743
- Depreciation +€9,505
up €9,505 (+58.2%), from €16,335 to €25,840
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 | €595,469 | €616,492 | +€21,023 | +3.5% |
| Fixed assets | 21/28 | €149,400 | €132,702 | -€16,699 | -11.2% |
| Tangible fixed assets | 22/27 | €105,150 | €88,452 | -€16,699 | -15.9% |
| Furniture and vehicles | 24 | €37,302 | €28,827 | -€8,475 | -22.7% |
| Other tangible fixed assets | 26 | €67,849 | €59,625 | -€8,224 | -12.1% |
| Financial fixed assets | 28 | €44,250 | €44,250 | = | 0.0% |
| Current assets | 29/58 | €446,069 | €483,791 | +€37,722 | +8.5% |
| Amounts receivable within one year | 40/41 | €379,398 | €291,299 | -€88,099 | -23.2% |
| Trade receivables | 40 | €377,662 | €289,563 | -€88,099 | -23.3% |
| Other amounts receivable | 41 | €1,736 | €1,736 | +€0 | 0.0% |
| Current investments | 50/53 | €13,350 | €13,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,252 | €140,021 | +€100,769 | +257% |
| Deferred charges and accrued income | 490/1 | €14,069 | €39,121 | +€25,052 | +178% |
| Total equity and liabilities | 10/49 | €595,469 | €616,492 | +€21,023 | +3.5% |
| Equity | 10/15 | €75,490 | €161,807 | +€86,317 | +114% |
| Contributions | 10/11 | €6,510 | €6,510 | = | 0.0% |
| Reserves | 13 | €18,460 | €123,710 | +€105,250 | +570% |
| Non-distributable reserves | 130/1 | €13,350 | €13,350 | = | 0.0% |
| Own shares acquired | 1312 | €13,350 | €13,350 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,459 | €109,709 | +€105,250 | +2,360% |
| Distributable reserves | 133 | €651 | €651 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,521 | €31,588 | -€18,933 | -37.5% |
| Amounts payable | 17/49 | €519,979 | €454,685 | -€65,294 | -12.6% |
| Amounts payable after more than one year | 17 | €19,823 | €9,190 | -€10,633 | -53.6% |
| Financial debts | 170/4 | €19,823 | €9,190 | -€10,633 | -53.6% |
| Amounts payable within one year | 42/48 | €500,156 | €445,495 | -€54,661 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €60,805 | €10,633 | -€50,172 | -82.5% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €127,299 | €132,225 | +€4,926 | +3.9% |
| Suppliers | 440/4 | €127,299 | €132,225 | +€4,926 | +3.9% |
| Taxes, remuneration and social security | 45 | €111,499 | €77,637 | -€33,861 | -30.4% |
| Taxes | 450/3 | €49,554 | €32,286 | -€17,268 | -34.8% |
| Remuneration and social security | 454/9 | €61,944 | €45,351 | -€16,593 | -26.8% |
| Other amounts payable | 47/48 | €553 | €25,000 | +€24,447 | +4,417% |
| Remuneration, social security and pensions | 62 | €403,263 | €443,743 | +€40,480 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,335 | €25,840 | +€9,505 | +58.2% |
| Other operating charges | 640/8 | €11,050 | €9,188 | -€1,862 | -16.9% |
| Non-recurring operating charges | 66A | - | €1,676 | +€1,676 | |
| Gross operating margin | 9900 | €467,313 | €588,650 | +€121,338 | +26.0% |
| Operating profit (loss) | 9901 | €36,664 | €108,203 | +€71,539 | +195% |
| Financial income | 75/76B | €896 | €734 | -€162 | -18.1% |
| Recurring financial income | 75 | €896 | €734 | -€162 | -18.1% |
| Financial charges | 65/66B | €16,938 | €11,951 | -€4,987 | -29.4% |
| Recurring financial charges | 65 | €16,938 | €11,951 | -€4,987 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €20,622 | €96,986 | +€76,364 | +370% |
| Income taxes | 67/77 | €10,264 | €10,669 | +€404 | +3.9% |
| Profit (loss) for the period | 9904 | €10,358 | €86,317 | +€75,959 | +733% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,358 | -€18,933 | -€29,291 |
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 4 November 2026 via checked.be.