VERHAMME: 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.
VERHAMME
Largest movements
- Receivables within one year -€121,411
down €121,411 (-64.6%), from €187,939 to €66,528
of which Other amounts receivable: -€122,712
- Current investments +€80,924
up €80,924 (+17.4%), from €464,029 to €544,952
- Tangible fixed assets +€37,906
up €37,906 (+23.7%), from €159,765 to €197,671
of which Plant, machinery and equipment: +€39,687
- Cash -€21,289
down €21,289 (-25.6%), from €83,180 to €61,891
mainly Contributions, distributions and other (-€345,978) and Investment in fixed assets (net) (-€100,380)
- Reserves -€28,998
down €28,998 (-5.9%), from €492,698 to €463,700
- Other debts -€13,243
down €13,243 (-4.4%), from €299,334 to €286,091
- Accrued charges and deferred income +€12,363
up €12,363 (+45.4%), from €27,221 to €39,584
- Turnover -€1.4m
no longer reported in 2025 (was €1.4m)
- Purchases and services -€904,756
no longer reported in 2025 (was €904,756)
- Gross operating margin +€22,060
up €22,060 (+4.5%), from €493,520 to €515,579
- Financial income -€14,892
down €14,892 (-68.7%), from €21,674 to €6,781
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 | €907,170 | €875,633 | -€31,537 | -3.5% |
| Fixed assets | 21/28 | €159,765 | €197,671 | +€37,906 | +23.7% |
| Tangible fixed assets | 22/27 | €159,765 | €197,671 | +€37,906 | +23.7% |
| Land and buildings | 22 | €515 | €258 | -€258 | -50.0% |
| Plant, machinery and equipment | 23 | €93,283 | €132,970 | +€39,687 | +42.5% |
| Furniture and vehicles | 24 | €50,794 | €55,275 | +€4,480 | +8.8% |
| Leasing and similar rights | 25 | €13,973 | €6,759 | -€7,214 | -51.6% |
| Other tangible fixed assets | 26 | €1,200 | €2,410 | +€1,210 | +100.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €747,405 | €677,962 | -€69,443 | -9.3% |
| Amounts receivable within one year | 40/41 | €187,939 | €66,528 | -€121,411 | -64.6% |
| Trade receivables | 40 | €3,576 | €4,877 | +€1,301 | +36.4% |
| Other amounts receivable | 41 | €184,363 | €61,651 | -€122,712 | -66.6% |
| Current investments | 50/53 | €464,029 | €544,952 | +€80,924 | +17.4% |
| Cash at bank and in hand | 54/58 | €83,180 | €61,891 | -€21,289 | -25.6% |
| Deferred charges and accrued income | 490/1 | €12,257 | €4,590 | -€7,667 | -62.6% |
| Total equity and liabilities | 10/49 | €907,170 | €875,633 | -€31,537 | -3.5% |
| Equity | 10/15 | €511,698 | €482,700 | -€28,998 | -5.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €492,698 | €463,700 | -€28,998 | -5.9% |
| Distributable reserves | 133 | €492,698 | €463,700 | -€28,998 | -5.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €395,472 | €392,933 | -€2,539 | -0.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €368,251 | €353,349 | -€14,902 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €4,057 | €0 | -€4,057 | -100.0% |
| Financial debts | 43 | €133 | €0 | -€133 | -100.0% |
| Credit institutions | 430/8 | €133 | €0 | -€133 | -100.0% |
| Trade debts | 44 | €39,996 | €41,615 | +€1,619 | +4.0% |
| Suppliers | 440/4 | €39,996 | €41,615 | +€1,619 | +4.0% |
| Taxes, remuneration and social security | 45 | €24,732 | €25,643 | +€911 | +3.7% |
| Taxes | 450/3 | €4,433 | €3,698 | -€735 | -16.6% |
| Remuneration and social security | 454/9 | €20,299 | €21,945 | +€1,647 | +8.1% |
| Other amounts payable | 47/48 | €299,334 | €286,091 | -€13,243 | -4.4% |
| Accrued charges and deferred income | 492/3 | €27,221 | €39,584 | +€12,363 | +45.4% |
| Turnover | 70 | €1,389,306 | - | -€1.4m | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €904,756 | - | -€904,756 | |
| Remuneration, social security and pensions | 62 | €120,015 | €120,896 | +€881 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,820 | €62,474 | +€3,654 | +6.2% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Non-recurring operating charges | 66A | €1,555 | €2,004 | +€450 | +28.9% |
| Gross operating margin | 9900 | €493,520 | €515,579 | +€22,060 | +4.5% |
| Operating profit (loss) | 9901 | €312,037 | €329,079 | +€17,042 | +5.5% |
| Financial income | 75/76B | €21,674 | €6,781 | -€14,892 | -68.7% |
| Recurring financial income | 75 | €21,674 | €6,781 | -€14,892 | -68.7% |
| Financial charges | 65/66B | €4,208 | €1,168 | -€3,040 | -72.2% |
| Recurring financial charges | 65 | €4,208 | €1,168 | -€3,040 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €329,503 | €334,692 | +€5,189 | +1.6% |
| Income taxes | 67/77 | €17,409 | €17,712 | +€303 | +1.7% |
| Profit (loss) for the period | 9904 | €312,093 | €316,980 | +€4,887 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €312,093 | €316,980 | +€4,887 | +1.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.