Verhaegen Pascal: 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.
Verhaegen Pascal
Largest movements
- Deferred charges and accrued income -€6,812
down €6,812 (-24.8%), from €27,493 to €20,681
- Receivables within one year -€5,859
down €5,859 (-36.5%), from €16,070 to €10,211
- Profit (loss) carried forward -€22,272
down €22,272 (-122.6%), from -€18,170 to -€40,442
- Other debts +€10,261
up €10,261 (+57.0%), from €17,989 to €28,250
- Gross operating margin -€4,179
down €4,179 (-28.1%), from -€14,872 to -€19,051
- Depreciation -€713
down €713 (-34.1%), from €2,093 to €1,380
- Other operating charges +€422
up €422 (+34.2%), from €1,235 to €1,657
- Taxes +€353
up €353, from -€114 to €239
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 | €181,932 | €167,150 | -€14,782 | -8.1% |
| Fixed assets | 21/28 | €1,380 | - | -€1,380 | |
| Tangible fixed assets | 22/27 | €1,380 | - | -€1,380 | |
| Plant, machinery and equipment | 23 | €1,038 | - | -€1,038 | |
| Furniture and vehicles | 24 | €342 | - | -€342 | |
| Current assets | 29/58 | €180,552 | €167,150 | -€13,402 | -7.4% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,070 | €10,211 | -€5,859 | -36.5% |
| Trade receivables | 40 | €16,070 | €10,211 | -€5,859 | -36.5% |
| Cash at bank and in hand | 54/58 | €134,489 | €133,758 | -€731 | -0.5% |
| Deferred charges and accrued income | 490/1 | €27,493 | €20,681 | -€6,812 | -24.8% |
| Total equity and liabilities | 10/49 | €181,932 | €167,150 | -€14,782 | -8.1% |
| Equity | 10/15 | €156,742 | €134,470 | -€22,272 | -14.2% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €154,461 | €154,461 | = | 0.0% |
| Distributable reserves | 133 | €154,461 | €154,461 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,170 | -€40,442 | -€22,272 | -122.6% |
| Amounts payable | 17/49 | €25,190 | €32,680 | +€7,490 | +29.7% |
| Amounts payable within one year | 42/48 | €25,190 | €32,680 | +€7,490 | +29.7% |
| Trade debts | 44 | €5,090 | €3,829 | -€1,261 | -24.8% |
| Suppliers | 440/4 | €5,090 | €3,829 | -€1,261 | -24.8% |
| Taxes, remuneration and social security | 45 | €2,111 | €601 | -€1,510 | -71.5% |
| Taxes | 450/3 | €2,111 | €601 | -€1,510 | -71.5% |
| Other amounts payable | 47/48 | €17,989 | €28,250 | +€10,261 | +57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,093 | €1,380 | -€713 | -34.1% |
| Other operating charges | 640/8 | €1,235 | €1,657 | +€422 | +34.2% |
| Gross operating margin | 9900 | -€14,872 | -€19,051 | -€4,179 | -28.1% |
| Operating profit (loss) | 9901 | -€18,200 | -€22,088 | -€3,888 | -21.4% |
| Financial income | 75/76B | €93 | €94 | +€1 | +1.1% |
| Recurring financial income | 75 | €93 | €94 | +€1 | +1.1% |
| Financial charges | 65/66B | €177 | €39 | -€138 | -78.0% |
| Recurring financial charges | 65 | €177 | €39 | -€138 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,284 | -€22,033 | -€3,749 | -20.5% |
| Income taxes | 67/77 | -€114 | €239 | +€353 | |
| Profit (loss) for the period | 9904 | -€18,170 | -€22,272 | -€4,102 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,170 | -€22,272 | -€4,102 | -22.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.