VERGHOTE PHILIP: 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.
VERGHOTE PHILIP
Largest movements
- Cash +€41,593
up €41,593 (+113%), from €36,950 to €78,543
mainly Current investments (+€40,000) and Depreciation (+€10,466)
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Tangible fixed assets -€10,466
down €10,466 (-31.9%), from €32,825 to €22,359
of which Furniture and vehicles: -€9,263
- Receivables within one year +€6,663
up €6,663 (+142%), from €4,682 to €11,345
of which Trade receivables: +€7,958
- Debts after one year -€8,295
down €8,295 (-22.4%), from €37,091 to €28,796
of which Financial debts: -€8,295
- Reserves +€5,828
up €5,828 (+12.7%), from €46,048 to €51,876
- Trade debts -€4,983
down €4,983 (-89.3%), from €5,583 to €600
- Other debts +€2,580
up €2,580 (+68.8%), from €3,750 to €6,330
- Profit (loss) carried forward +€1,927
no longer reported in 2025 (was -€1,927)
- Gross operating margin +€14,287
up €14,287 (+148%), from €9,679 to €23,966
- Taxes +€2,204
up €2,204 (+1,395%), from €158 to €2,362
- Financial charges +€872
up €872 (+64.0%), from €1,362 to €2,234
- Depreciation -€445
down €445 (-4.1%), from €10,911 to €10,466
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 | €119,282 | €117,562 | -€1,720 | -1.4% |
| Fixed assets | 21/28 | €32,825 | €22,359 | -€10,466 | -31.9% |
| Tangible fixed assets | 22/27 | €32,825 | €22,359 | -€10,466 | -31.9% |
| Plant, machinery and equipment | 23 | €2,362 | €1,160 | -€1,203 | -50.9% |
| Furniture and vehicles | 24 | €30,463 | €21,200 | -€9,263 | -30.4% |
| Current assets | 29/58 | €86,457 | €95,202 | +€8,746 | +10.1% |
| Stocks and contracts in progress | 3 | €3,930 | €4,788 | +€858 | +21.8% |
| Stocks | 30/36 | €3,930 | €4,788 | +€858 | +21.8% |
| Amounts receivable within one year | 40/41 | €4,682 | €11,345 | +€6,663 | +142% |
| Trade receivables | 40 | €1,195 | €9,153 | +€7,958 | +666% |
| Other amounts receivable | 41 | €3,487 | €2,191 | -€1,295 | -37.2% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €36,950 | €78,543 | +€41,593 | +113% |
| Deferred charges and accrued income | 490/1 | €895 | €527 | -€368 | -41.1% |
| Total equity and liabilities | 10/49 | €119,282 | €117,562 | -€1,720 | -1.4% |
| Equity | 10/15 | €62,713 | €70,468 | +€7,755 | +12.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €46,048 | €51,876 | +€5,828 | +12.7% |
| Distributable reserves | 133 | €46,048 | €51,876 | +€5,828 | +12.7% |
| Profit (loss) carried forward | 14 | -€1,927 | - | +€1,927 | |
| Amounts payable | 17/49 | €56,569 | €47,094 | -€9,475 | -16.7% |
| Amounts payable after more than one year | 17 | €37,091 | €28,796 | -€8,295 | -22.4% |
| Financial debts | 170/4 | €20,591 | €12,296 | -€8,295 | -40.3% |
| Other amounts payable | 178/9 | €16,500 | €16,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €19,478 | €17,130 | -€2,348 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €7,990 | €8,295 | +€305 | +3.8% |
| Trade debts | 44 | €5,583 | €600 | -€4,983 | -89.3% |
| Suppliers | 440/4 | €5,583 | €600 | -€4,983 | -89.3% |
| Taxes, remuneration and social security | 45 | €2,155 | €1,905 | -€250 | -11.6% |
| Taxes | 450/3 | €2,155 | €1,905 | -€250 | -11.6% |
| Other amounts payable | 47/48 | €3,750 | €6,330 | +€2,580 | +68.8% |
| Accrued charges and deferred income | 492/3 | - | €1,168 | +€1,168 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,911 | €10,466 | -€445 | -4.1% |
| Other operating charges | 640/8 | €882 | €909 | +€27 | +3.1% |
| Gross operating margin | 9900 | €9,679 | €23,966 | +€14,287 | +148% |
| Operating profit (loss) | 9901 | -€2,114 | €12,591 | +€14,705 | |
| Financial income | 75/76B | €681 | €592 | -€88 | -13.0% |
| Recurring financial income | 75 | €681 | €592 | -€88 | -13.0% |
| Financial charges | 65/66B | €1,362 | €2,234 | +€872 | +64.0% |
| Recurring financial charges | 65 | €1,362 | €2,234 | +€872 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,795 | €10,949 | +€13,744 | |
| Income taxes | 67/77 | €158 | €2,362 | +€2,204 | +1,395% |
| Profit (loss) for the period | 9904 | -€2,953 | €8,588 | +€11,541 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,953 | €8,588 | +€11,541 |
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 29 October 2026 via checked.be.