VERHAEGHE SOLUTIONS: 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.
VERHAEGHE SOLUTIONS
Largest movements
- Cash +€71,833
up €71,833 (+372%), from €19,316 to €91,149
mainly Net result for the year (+€104,034) and Other debts (+€60,635)
- Receivables within one year -€31,725
down €31,725 (-54.6%), from €58,115 to €26,389
of which Trade receivables: -€31,641
- Intangible fixed assets -€8,001
down €8,001 (-100%), from €8,001 to €0
- Other debts +€60,635
up €60,635 (+175%), from €34,562 to €95,197
- Advances received -€30,865
down €30,865 (-81.8%), from €37,745 to €6,880
- Reserves +€9,034
up €9,034 (+5.1%), from €176,117 to €185,150
- Accrued charges and deferred income -€3,500
down €3,500 (-100%), from €3,500 to €0
- Gross operating margin +€42,138
up €42,138 (+60.2%), from €70,011 to €112,149
- Depreciation -€18,807
down €18,807 (-66.0%), from €28,475 to €9,668
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 | €293,209 | €324,029 | +€30,819 | +10.5% |
| Fixed assets | 21/28 | €11,074 | €2,730 | -€8,344 | -75.3% |
| Intangible fixed assets | 21 | €8,001 | €0 | -€8,001 | -100% |
| Tangible fixed assets | 22/27 | €3,073 | €2,730 | -€343 | -11.2% |
| Plant, machinery and equipment | 23 | €2,567 | €2,364 | -€203 | -7.9% |
| Furniture and vehicles | 24 | €69 | €9 | -€60 | -87.1% |
| Other tangible fixed assets | 26 | €437 | €357 | -€80 | -18.3% |
| Current assets | 29/58 | €282,135 | €321,299 | +€39,164 | +13.9% |
| Stocks and contracts in progress | 3 | €204,704 | €203,760 | -€944 | -0.5% |
| Stocks | 30/36 | €204,704 | €203,760 | -€944 | -0.5% |
| Amounts receivable within one year | 40/41 | €58,115 | €26,389 | -€31,725 | -54.6% |
| Trade receivables | 40 | €58,014 | €26,373 | -€31,641 | -54.5% |
| Other amounts receivable | 41 | €101 | €16 | -€85 | -84.2% |
| Cash at bank and in hand | 54/58 | €19,316 | €91,149 | +€71,833 | +372% |
| Total equity and liabilities | 10/49 | €293,209 | €324,029 | +€30,819 | +10.5% |
| Equity | 10/15 | €194,717 | €203,750 | +€9,034 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €176,117 | €185,150 | +€9,034 | +5.1% |
| Distributable reserves | 133 | €176,117 | €185,150 | +€9,034 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €98,493 | €120,278 | +€21,786 | +22.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €94,993 | €120,278 | +€25,286 | +26.6% |
| Trade debts | 44 | €2,825 | €834 | -€1,990 | -70.5% |
| Suppliers | 440/4 | €2,825 | €834 | -€1,990 | -70.5% |
| Advances received on contracts in progress | 46 | €37,745 | €6,880 | -€30,865 | -81.8% |
| Taxes, remuneration and social security | 45 | €19,861 | €17,367 | -€2,494 | -12.6% |
| Taxes | 450/3 | €19,861 | €17,367 | -€2,494 | -12.6% |
| Other amounts payable | 47/48 | €34,562 | €95,197 | +€60,635 | +175% |
| Accrued charges and deferred income | 492/3 | €3,500 | €0 | -€3,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,475 | €9,668 | -€18,807 | -66.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €732 | €0 | -€732 | -100% |
| Other operating charges | 640/8 | €816 | €843 | +€26 | +3.2% |
| Gross operating margin | 9900 | €70,011 | €112,149 | +€42,138 | +60.2% |
| Operating profit (loss) | 9901 | €39,988 | €101,638 | +€61,650 | +154% |
| Financial income | 75/76B | €6,194 | €6,546 | +€352 | +5.7% |
| Recurring financial income | 75 | €6,194 | €6,546 | +€352 | +5.7% |
| Financial charges | 65/66B | €1,390 | €1,092 | -€298 | -21.4% |
| Recurring financial charges | 65 | €1,390 | €1,092 | -€298 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €44,791 | €107,092 | +€62,300 | +139% |
| Income taxes | 67/77 | €2,757 | €3,058 | +€301 | +10.9% |
| Profit (loss) for the period | 9904 | €42,034 | €104,034 | +€61,999 | +147% |
| Profit (loss) for the period to be appropriated | 9905 | €42,034 | €104,034 | +€61,999 | +147% |
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 22 October 2026 via checked.be.