VERHAGEN BART: what changed
VERHAGEN BART
Largest movements
- Cash +€168,878
up €168,878 (+183%), from €92,464 to €261,342
mainly Current investments (+€100,000) and Net result for the year (+€57,555)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€33,170
down €33,170 (-15.2%), from €218,572 to €185,402
of which Furniture and vehicles: -€24,455
- Receivables within one year +€7,782
up €7,782 (+41.9%), from €18,555 to €26,337
of which Other amounts receivable: +€4,820
- Reserves +€31,550
up €31,550 (+17.2%), from €183,688 to €215,238
- Other debts +€11,593
up €11,593 (+6.8%), from €170,359 to €181,952
- Gross operating margin +€28,417
up €28,417 (+24.6%), from €115,308 to €143,725
- Depreciation +€8,865
up €8,865 (+25.1%), from €35,301 to €44,165
- Taxes +€8,501
up €8,501 (+31.5%), from €27,016 to €35,516
- Financial income +€2,356
up €2,356 (+11,780,050%), from €0 to €2,356
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 | €446,174 | €487,623 | +€41,449 | +9.3% |
| Fixed assets | 21/28 | €218,951 | €185,781 | -€33,170 | -15.1% |
| Tangible fixed assets | 22/27 | €218,572 | €185,402 | -€33,170 | -15.2% |
| Land and buildings | 22 | €117,036 | €108,321 | -€8,715 | -7.4% |
| Furniture and vehicles | 24 | €101,536 | €77,081 | -€24,455 | -24.1% |
| Financial fixed assets | 28 | €379 | €379 | = | 0.0% |
| Current assets | 29/58 | €227,224 | €301,843 | +€74,619 | +32.8% |
| Amounts receivable within one year | 40/41 | €18,555 | €26,337 | +€7,782 | +41.9% |
| Trade receivables | 40 | €18,199 | €21,162 | +€2,963 | +16.3% |
| Other amounts receivable | 41 | €356 | €5,176 | +€4,820 | +1,354% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €92,464 | €261,342 | +€168,878 | +183% |
| Deferred charges and accrued income | 490/1 | €16,205 | €14,163 | -€2,042 | -12.6% |
| Total equity and liabilities | 10/49 | €446,174 | €487,623 | +€41,449 | +9.3% |
| Equity | 10/15 | €248,290 | €279,845 | +€31,555 | +12.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €183,688 | €215,238 | +€31,550 | +17.2% |
| Distributable reserves | 133 | €183,688 | €215,238 | +€31,550 | +17.2% |
| Profit (loss) carried forward | 14 | €46,011 | €46,015 | +€5 | 0.0% |
| Amounts payable | 17/49 | €197,884 | €207,779 | +€9,894 | +5.0% |
| Amounts payable within one year | 42/48 | €197,884 | €207,779 | +€9,894 | +5.0% |
| Trade debts | 44 | €2,482 | €901 | -€1,580 | -63.7% |
| Suppliers | 440/4 | €2,482 | €901 | -€1,580 | -63.7% |
| Taxes, remuneration and social security | 45 | €25,044 | €24,926 | -€118 | -0.5% |
| Taxes | 450/3 | €25,044 | €24,926 | -€118 | -0.5% |
| Other amounts payable | 47/48 | €170,359 | €181,952 | +€11,593 | +6.8% |
| Remuneration, social security and pensions | 62 | €318 | €261 | -€57 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,301 | €44,165 | +€8,865 | +25.1% |
| Other operating charges | 640/8 | €7,834 | €8,562 | +€728 | +9.3% |
| Gross operating margin | 9900 | €115,308 | €143,725 | +€28,417 | +24.6% |
| Operating profit (loss) | 9901 | €71,856 | €90,736 | +€18,881 | +26.3% |
| Financial income | 75/76B | €0 | €2,356 | +€2,356 | +11,780,050% |
| Recurring financial income | 75 | €0 | €2,356 | +€2,356 | +11,780,050% |
| Financial charges | 65/66B | €24 | €21 | -€3 | -12.1% |
| Recurring financial charges | 65 | €24 | €21 | -€3 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €71,832 | €93,071 | +€21,239 | +29.6% |
| Income taxes | 67/77 | €27,016 | €35,516 | +€8,501 | +31.5% |
| Profit (loss) for the period | 9904 | €44,816 | €57,555 | +€12,739 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,816 | €57,555 | +€12,739 | +28.4% |
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 8 November 2026 via checked.be.