Verhaeghe Immo: what changed
Verhaeghe Immo
Largest movements
- Current investments +€70,000
up €70,000 (+30.4%), from €230,000 to €300,000
- Cash -€40,845
down €40,845 (-53.8%), from €75,854 to €35,009
mainly Current investments (-€70,000) and Contributions, distributions and other (-€27,000)
- Tangible fixed assets -€10,921
down €10,921 (-3.6%), from €305,001 to €294,081
of which Land and buildings: -€18,242
- Reserves +€11,493
up €11,493 (+2.2%), from €525,129 to €536,623
of which Distributable reserves: +€11,493
- Gross operating margin +€4,714
up €4,714 (+7.6%), from €61,875 to €66,589
- Depreciation -€2,140
down €2,140 (-8.3%), from €25,655 to €23,516
- Taxes +€955
up €955 (+38.9%), from €2,456 to €3,411
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 | €618,369 | €630,862 | +€12,493 | +2.0% |
| Fixed assets | 21/28 | €305,001 | €294,081 | -€10,921 | -3.6% |
| Tangible fixed assets | 22/27 | €305,001 | €294,081 | -€10,921 | -3.6% |
| Land and buildings | 22 | €273,544 | €255,302 | -€18,242 | -6.7% |
| Plant, machinery and equipment | 23 | €31,457 | €38,779 | +€7,322 | +23.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €313,367 | €336,781 | +€23,414 | +7.5% |
| Amounts receivable within one year | 40/41 | €712 | €824 | +€112 | +15.8% |
| Trade receivables | 40 | €72 | €79 | +€6 | +8.9% |
| Other amounts receivable | 41 | €640 | €746 | +€106 | +16.5% |
| Current investments | 50/53 | €230,000 | €300,000 | +€70,000 | +30.4% |
| Cash at bank and in hand | 54/58 | €75,854 | €35,009 | -€40,845 | -53.8% |
| Deferred charges and accrued income | 490/1 | €6,801 | €948 | -€5,853 | -86.1% |
| Total equity and liabilities | 10/49 | €618,369 | €630,862 | +€12,493 | +2.0% |
| Equity | 10/15 | €592,129 | €603,623 | +€11,493 | +1.9% |
| Contributions | 10/11 | €67,000 | €67,000 | = | 0.0% |
| Reserves | 13 | €525,129 | €536,623 | +€11,493 | +2.2% |
| Tax-exempt reserves | 132 | €53,086 | €53,086 | = | 0.0% |
| Distributable reserves | 133 | €472,044 | €483,537 | +€11,493 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,239 | €27,239 | +€1,000 | +3.8% |
| Amounts payable within one year | 42/48 | €26,239 | €27,239 | +€1,000 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €239 | €239 | = | 0.0% |
| Suppliers | 440/4 | €239 | €239 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €26,000 | €27,000 | +€1,000 | +3.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,655 | €23,516 | -€2,140 | -8.3% |
| Other operating charges | 640/8 | €5,682 | €5,858 | +€177 | +3.1% |
| Gross operating margin | 9900 | €61,875 | €66,589 | +€4,714 | +7.6% |
| Operating profit (loss) | 9901 | €30,538 | €37,215 | +€6,677 | +21.9% |
| Financial income | 75/76B | €5,382 | €4,730 | -€653 | -12.1% |
| Recurring financial income | 75 | €5,382 | €4,730 | -€653 | -12.1% |
| Financial charges | 65/66B | €95 | €40 | -€55 | -57.7% |
| Recurring financial charges | 65 | €95 | €40 | -€55 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €35,825 | €41,905 | +€6,080 | +17.0% |
| Income taxes | 67/77 | €2,456 | €3,411 | +€955 | +38.9% |
| Profit (loss) for the period | 9904 | €33,369 | €38,493 | +€5,125 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,369 | €38,493 | +€5,125 | +15.4% |
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 2 November 2026 via checked.be.