VERHAEGHE WOUTER: 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.
What changed
VERHAEGHE WOUTER
NACE 56.112, Limited-service restaurants, excluding mobile food services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€49,712
2024 · €20,170+€29,542
Equity
€101,628
2024 · €90,853+€10,775
Cash
€28,902
2024 · €25,634+€3,268
Balance sheet total
€739,235
2024 · €772,131-€32,896
Largest movements
Assets
- Tangible fixed assets -€68,794
down €68,794 (-11.1%), from €619,214 to €550,420
- Current investments +€34,560
up €34,560 (+39.2%), from €88,088 to €122,648
Equity and liabilities
- Debts after one year -€79,966
down €79,966 (-14.9%), from €535,570 to €455,604
of which Financial debts: -€75,630
- Other debts +€33,282
up €33,282 (+589%), from €5,655 to €38,937
- Trade debts +€10,897
up €10,897 (+35.9%), from €30,393 to €41,290
- Reserves +€10,774
up €10,774 (+12.7%), from €84,590 to €95,364
of which Distributable reserves: +€10,774
Income statement
- Gross operating margin +€43,170
up €43,170 (+15.2%), from €283,405 to €326,575
- Taxes +€9,427
up €9,427 (+366%), from €2,576 to €12,003
- Staff costs +€3,626
up €3,626 (+3.6%), from €101,149 to €104,775
- Depreciation -€3,399
down €3,399 (-2.5%), from €138,348 to €134,949
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.
Result 2024
€20,170
Gross operating margin
+€43,170
Staff costs
-€3,626
Depreciation
+€3,399
Other operating charges
-€1,674
Financial income
-€979
Financial charges
-€1,321
Taxes
-€9,427
Result 2025
€49,712
raises the resultlowers the result
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.
From operations
+€227,008
Investment
-€100,665
Financing
-€123,075
Cash 2024
€25,634
From operations (derived)
+€227,008
Net result for the year
+€49,712
Depreciation
+€134,949
Receivables after one year
+€900
Stocks and contracts
+€3,573
Receivables within one year
-€3,722
Deferred charges and accrued income
+€1,128
Trade debts
+€10,897
Tax, wage and social debts
-€2,910
Other debts
+€33,282
Accrued charges and deferred income
-€801
Investment (derived)
-€100,665
Investment in fixed assets (net)
-€66,105
Current investments
-€34,560
Financing
-€123,075
Debts after one year
-€79,966
Current portion of long-term debt
-€4,172
Contributions, distributions and other
-€38,937
Cash 2025
€28,902
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €772,131 | €739,235 | -€32,896 | -4.3% |
| Fixed assets | 21/28 | €619,264 | €550,420 | -€68,844 | -11.1% |
| Tangible fixed assets | 22/27 | €619,214 | €550,420 | -€68,794 | -11.1% |
| Land and buildings | 22 | €286,936 | €259,086 | -€27,850 | -9.7% |
| Plant, machinery and equipment | 23 | €313,114 | €283,538 | -€29,576 | -9.4% |
| Furniture and vehicles | 24 | €19,164 | €7,796 | -€11,368 | -59.3% |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €152,867 | €188,815 | +€35,948 | +23.5% |
| Amounts receivable after more than one year | 29 | €900 | - | -€900 | |
| Other amounts receivable | 291 | €900 | - | -€900 | |
| Stocks and contracts in progress | 3 | €20,337 | €16,764 | -€3,573 | -17.6% |
| Stocks | 30/36 | €20,337 | €16,764 | -€3,573 | -17.6% |
| Amounts receivable within one year | 40/41 | €10,811 | €14,532 | +€3,722 | +34.4% |
| Trade receivables | 40 | €10,811 | €527 | -€10,284 | -95.1% |
| Other amounts receivable | 41 | - | €14,005 | +€14,005 | |
| Current investments | 50/53 | €88,088 | €122,648 | +€34,560 | +39.2% |
| Cash at bank and in hand | 54/58 | €25,634 | €28,902 | +€3,268 | +12.7% |
| Deferred charges and accrued income | 490/1 | €7,097 | €5,969 | -€1,128 | -15.9% |
| Total equity and liabilities | 10/49 | €772,131 | €739,235 | -€32,896 | -4.3% |
| Equity | 10/15 | €90,853 | €101,628 | +€10,775 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,590 | €95,364 | +€10,774 | +12.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €350 | €350 | = | 0.0% |
| Distributable reserves | 133 | €82,380 | €93,154 | +€10,774 | +13.1% |
| Profit (loss) carried forward | 14 | €63 | €64 | +€1 | +0.8% |
| Amounts payable | 17/49 | €681,278 | €637,607 | -€43,670 | -6.4% |
| Amounts payable after more than one year | 17 | €535,570 | €455,604 | -€79,966 | -14.9% |
| Financial debts | 170/4 | €468,108 | €392,478 | -€75,630 | -16.2% |
| Other amounts payable | 178/9 | €67,462 | €63,126 | -€4,336 | -6.4% |
| Amounts payable within one year | 42/48 | €144,907 | €182,003 | +€37,096 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €94,356 | €90,183 | -€4,172 | -4.4% |
| Trade debts | 44 | €30,393 | €41,290 | +€10,897 | +35.9% |
| Suppliers | 440/4 | €30,393 | €41,290 | +€10,897 | +35.9% |
| Taxes, remuneration and social security | 45 | €14,503 | €11,592 | -€2,910 | -20.1% |
| Taxes | 450/3 | €9,152 | €5,947 | -€3,204 | -35.0% |
| Remuneration and social security | 454/9 | €5,351 | €5,645 | +€294 | +5.5% |
| Other amounts payable | 47/48 | €5,655 | €38,937 | +€33,282 | +589% |
| Accrued charges and deferred income | 492/3 | €801 | - | -€801 | |
| Remuneration, social security and pensions | 62 | €101,149 | €104,775 | +€3,626 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,348 | €134,949 | -€3,399 | -2.5% |
| Other operating charges | 640/8 | €6,731 | €8,405 | +€1,674 | +24.9% |
| Gross operating margin | 9900 | €283,405 | €326,575 | +€43,170 | +15.2% |
| Operating profit (loss) | 9901 | €37,177 | €78,446 | +€41,268 | +111% |
| Financial income | 75/76B | €2,683 | €1,703 | -€979 | -36.5% |
| Recurring financial income | 75 | €2,683 | €1,703 | -€979 | -36.5% |
| Financial charges | 65/66B | €17,114 | €18,435 | +€1,321 | +7.7% |
| Recurring financial charges | 65 | €17,114 | €18,435 | +€1,321 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €22,746 | €61,714 | +€38,968 | +171% |
| Income taxes | 67/77 | €2,576 | €12,003 | +€9,427 | +366% |
| Profit (loss) for the period | 9904 | €20,170 | €49,712 | +€29,542 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €20,170 | €49,712 | +€29,542 | +146% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.