Verburgh: 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.
Verburgh
Largest movements
- Receivables within one year -€246,810
down €246,810 (-46.6%), from €529,530 to €282,720
of which Other amounts receivable: -€214,310
- Tangible fixed assets -€121,121
down €121,121 (-5.3%), from €2.3m to €2.2m
of which Land and buildings: -€66,218
- Short-term financial debts -€151,500
down €151,500 (-67.0%), from €226,000 to €74,500
- Reserves -€73,706
down €73,706 (-7.6%), from €968,890 to €895,185
of which Tax-exempt reserves: -€73,706
- Other debts -€66,801
down €66,801 (-43.1%), from €154,972 to €88,171
- Provisions -€49,137
down €49,137 (-17.7%), from €278,268 to €229,131
- Debts after one year -€30,488
down €30,488 (-2.4%), from €1.2m to €1.2m
- Gross operating margin -€29,636
down €29,636 (-22.8%), from €129,890 to €100,254
- Taxes +€2,632
up €2,632 (+221%), from €1,191 to €3,822
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 | €2,988,630 | €2,617,942 | -€370,688 | -12.4% |
| Fixed assets | 21/28 | €2,447,246 | €2,326,124 | -€121,121 | -4.9% |
| Tangible fixed assets | 22/27 | €2,279,346 | €2,158,224 | -€121,121 | -5.3% |
| Land and buildings | 22 | €1,797,004 | €1,730,786 | -€66,218 | -3.7% |
| Furniture and vehicles | 24 | €143,687 | €115,111 | -€28,576 | -19.9% |
| Other tangible fixed assets | 26 | €338,654 | €312,327 | -€26,327 | -7.8% |
| Financial fixed assets | 28 | €167,900 | €167,900 | = | 0.0% |
| Current assets | 29/58 | €541,384 | €291,818 | -€249,567 | -46.1% |
| Amounts receivable within one year | 40/41 | €529,530 | €282,720 | -€246,810 | -46.6% |
| Trade receivables | 40 | €32,500 | - | -€32,500 | |
| Other amounts receivable | 41 | €497,030 | €282,720 | -€214,310 | -43.1% |
| Cash at bank and in hand | 54/58 | €8,037 | €5,280 | -€2,757 | -34.3% |
| Deferred charges and accrued income | 490/1 | €3,818 | €3,818 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,988,630 | €2,617,942 | -€370,688 | -12.4% |
| Equity | 10/15 | €1,032,892 | €961,356 | -€71,536 | -6.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €968,890 | €895,185 | -€73,706 | -7.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €416,527 | €342,822 | -€73,706 | -17.7% |
| Distributable reserves | 133 | €546,163 | €546,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,002 | €4,171 | +€2,170 | +108% |
| Provisions and deferred taxes | 16 | €278,268 | €229,131 | -€49,137 | -17.7% |
| Deferred taxes | 168 | €278,268 | €229,131 | -€49,137 | -17.7% |
| Amounts payable | 17/49 | €1,677,470 | €1,427,455 | -€250,015 | -14.9% |
| Amounts payable after more than one year | 17 | €1,246,137 | €1,215,649 | -€30,488 | -2.4% |
| Financial debts | 170/4 | €1,246,137 | €1,215,649 | -€30,488 | -2.4% |
| Amounts payable within one year | 42/48 | €428,972 | €205,670 | -€223,302 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €29,200 | €30,488 | +€1,288 | +4.4% |
| Financial debts | 43 | €226,000 | €74,500 | -€151,500 | -67.0% |
| Credit institutions | 430/8 | €226,000 | €74,500 | -€151,500 | -67.0% |
| Trade debts | 44 | €7,162 | €360 | -€6,802 | -95.0% |
| Suppliers | 440/4 | €7,162 | €360 | -€6,802 | -95.0% |
| Taxes, remuneration and social security | 45 | €11,639 | €12,151 | +€512 | +4.4% |
| Taxes | 450/3 | €11,639 | €12,151 | +€512 | +4.4% |
| Other amounts payable | 47/48 | €154,972 | €88,171 | -€66,801 | -43.1% |
| Accrued charges and deferred income | 492/3 | €2,360 | €6,135 | +€3,775 | +160% |
| Non-recurring operating income | 76A | €30,000 | - | -€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,765 | €121,121 | +€356 | +0.3% |
| Other operating charges | 640/8 | €33,331 | €34,214 | +€883 | +2.6% |
| Gross operating margin | 9900 | €129,890 | €100,254 | -€29,636 | -22.8% |
| Operating profit (loss) | 9901 | -€24,207 | -€55,081 | -€30,875 | -128% |
| Financial income | 75/76B | €83 | €96 | +€13 | +16.2% |
| Recurring financial income | 75 | €83 | €96 | +€13 | +16.2% |
| Financial charges | 65/66B | €60,619 | €61,866 | +€1,246 | +2.1% |
| Recurring financial charges | 65 | €60,619 | €61,866 | +€1,246 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | -€84,744 | -€116,851 | -€32,107 | -37.9% |
| Transfer from deferred taxes | 780 | €34,377 | €49,137 | +€14,760 | +42.9% |
| Income taxes | 67/77 | €1,191 | €3,822 | +€2,632 | +221% |
| Profit (loss) for the period | 9904 | -€51,557 | -€71,536 | -€19,979 | -38.8% |
| Transfer from tax-exempt reserves | 789 | €51,565 | €73,706 | +€22,140 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8 | €2,170 | +€2,162 | +26,819% |
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 17 October 2026 via checked.be.