VERHACO: what changed
Two fiscal 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.
VERHACO
Largest movements
- Receivables within one year +€47,319
up €47,319 (+403.0%), from €11,741 to €59,060
of which Trade receivables: +€47,149
- Cash -€17,119
down €17,119 (-21.9%), from €78,113 to €60,994
mainly Receivables within one year (-€47,319) and Debts after one year (-€15,000)
- Profit (loss) carried forward +€22,432
up €22,432 (+40.8%), from -€54,971 to -€32,539
- Gross operating margin +€6,022
up €6,022 (+13.1%), from €45,872 to €51,894
- Taxes +€1,135
up €1,135 (+15.6%), from €7,253 to €8,388
- Other operating charges -€888
down €888 (-16.8%), from €5,294 to €4,405
- Depreciation -€726
down €726 (-4.6%), from €15,918 to €15,192
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.
Cash bridge derived
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 | €1,556,909 | €1,573,215 | +€16,306 | +1.0% |
| Fixed assets | 21/28 | €1,467,055 | €1,451,863 | -€15,192 | -1.0% |
| Tangible fixed assets | 22/27 | €1,467,055 | €1,451,863 | -€15,192 | -1.0% |
| Land and buildings | 22 | €1,467,055 | €1,451,863 | -€15,192 | -1.0% |
| Current assets | 29/58 | €89,854 | €121,352 | +€31,498 | +35.1% |
| Amounts receivable within one year | 40/41 | €11,741 | €59,060 | +€47,319 | +403.0% |
| Trade receivables | 40 | €10,354 | €57,503 | +€47,149 | +455.4% |
| Other amounts receivable | 41 | €1,387 | €1,558 | +€170 | +12.3% |
| Cash at bank and in hand | 54/58 | €78,113 | €60,994 | -€17,119 | -21.9% |
| Deferred charges and accrued income | 490/1 | - | €1,298 | +€1,298 | |
| Total equity and liabilities | 10/49 | €1,556,909 | €1,573,215 | +€16,306 | +1.0% |
| Equity | 10/15 | €1,495,861 | €1,518,293 | +€22,432 | +1.5% |
| Contributions | 10/11 | €1,350,000 | €1,350,000 | = | 0.0% |
| Reserves | 13 | €200,832 | €200,832 | = | 0.0% |
| Distributable reserves | 133 | €200,832 | €200,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,971 | -€32,539 | +€22,432 | +40.8% |
| Amounts payable | 17/49 | €61,048 | €54,922 | -€6,126 | -10.0% |
| Amounts payable after more than one year | 17 | €45,000 | €30,000 | -€15,000 | -33.3% |
| Financial debts | 170/4 | €45,000 | €30,000 | -€15,000 | -33.3% |
| Amounts payable within one year | 42/48 | €16,048 | €24,922 | +€8,874 | +55.3% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €838 | €1,575 | +€737 | +87.9% |
| Suppliers | 440/4 | €838 | €1,575 | +€737 | +87.9% |
| Taxes, remuneration and social security | 45 | €209 | €8,346 | +€8,137 | +3884.4% |
| Taxes | 450/3 | €209 | €8,346 | +€8,137 | +3884.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,918 | €15,192 | -€726 | -4.6% |
| Other operating charges | 640/8 | €5,294 | €4,405 | -€888 | -16.8% |
| Gross operating margin | 9900 | €45,872 | €51,894 | +€6,022 | +13.1% |
| Operating profit (loss) | 9901 | €24,660 | €32,296 | +€7,636 | +31.0% |
| Financial income | 75/76B | €451 | €397 | -€55 | -12.1% |
| Recurring financial income | 75 | €451 | €397 | -€55 | -12.1% |
| Financial charges | 65/66B | €2,317 | €1,873 | -€444 | -19.2% |
| Recurring financial charges | 65 | €2,317 | €1,873 | -€444 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €22,795 | €30,820 | +€8,025 | +35.2% |
| Income taxes | 67/77 | €7,253 | €8,388 | +€1,135 | +15.6% |
| Profit (loss) for the period | 9904 | €15,542 | €22,432 | +€6,890 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,542 | €22,432 | +€6,890 | +44.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.