VERHAVEN: 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.
VERHAVEN
Largest movements
- Current investments -€137,604
down €137,604 (-18.7%), from €735,398 to €597,794
- Tangible fixed assets +€43,210
up €43,210 (+277.5%), from €15,569 to €58,779
of which Furniture and vehicles: +€48,151
- Reserves -€221,662
down €221,662 (-25.5%), from €868,849 to €647,187
- Other debts +€124,596
up €124,596 (+33.6%), from €370,973 to €495,570
- Financial income +€66,661
up €66,661 (+3665.7%), from €1,819 to €68,480
- Gross operating margin -€21,299
down €21,299 (-6.3%), from €340,127 to €318,827
- Financial charges +€18,803
up €18,803 (+888.3%), from €2,117 to €20,920
- Other operating charges +€9,070
up €9,070 (+540.1%), from €1,679 to €10,750
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 | €1,311,127 | €1,201,213 | -€109,914 | -8.4% |
| Fixed assets | 21/28 | €15,569 | €58,779 | +€43,210 | +277.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €15,569 | €58,779 | +€43,210 | +277.5% |
| Land and buildings | 22 | €9,304 | - | -€9,304 | |
| Plant, machinery and equipment | 23 | €0 | €4,364 | +€4,364 | |
| Furniture and vehicles | 24 | €6,264 | €54,415 | +€48,151 | +768.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €1,295,558 | €1,142,434 | -€153,124 | -11.8% |
| Amounts receivable within one year | 40/41 | €150,544 | €148,251 | -€2,292 | -1.5% |
| Other amounts receivable | 41 | €150,544 | €148,251 | -€2,292 | -1.5% |
| Current investments | 50/53 | €735,398 | €597,794 | -€137,604 | -18.7% |
| Cash at bank and in hand | 54/58 | €402,008 | €394,769 | -€7,239 | -1.8% |
| Deferred charges and accrued income | 490/1 | €7,607 | €1,619 | -€5,989 | -78.7% |
| Total equity and liabilities | 10/49 | €1,311,127 | €1,201,213 | -€109,914 | -8.4% |
| Equity | 10/15 | €889,407 | €666,945 | -€222,462 | -25.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €868,849 | €647,187 | -€221,662 | -25.5% |
| Distributable reserves | 133 | €868,849 | €647,187 | -€221,662 | -25.5% |
| Profit (loss) carried forward | 14 | €8,158 | €7,358 | -€800 | -9.8% |
| Amounts payable | 17/49 | €421,720 | €534,268 | +€112,548 | +26.7% |
| Amounts payable after more than one year | 17 | €15,654 | €12,585 | -€3,069 | -19.6% |
| Advances received on contracts in progress | 176 | €12,585 | €12,585 | = | 0.0% |
| Other amounts payable | 178/9 | €3,069 | - | -€3,069 | |
| Amounts payable within one year | 42/48 | €406,066 | €521,683 | +€115,617 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €7,368 | €3,069 | -€4,299 | -58.3% |
| Trade debts | 44 | €700 | €745 | +€45 | +6.4% |
| Suppliers | 440/4 | €700 | €745 | +€45 | +6.4% |
| Taxes, remuneration and social security | 45 | €27,024 | €22,299 | -€4,725 | -17.5% |
| Taxes | 450/3 | €27,024 | €22,299 | -€4,725 | -17.5% |
| Other amounts payable | 47/48 | €370,973 | €495,570 | +€124,596 | +33.6% |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,032 | €12,633 | +€1,601 | +14.5% |
| Other operating charges | 640/8 | €1,679 | €10,750 | +€9,070 | +540.1% |
| Gross operating margin | 9900 | €340,127 | €318,827 | -€21,299 | -6.3% |
| Operating profit (loss) | 9901 | €327,415 | €295,444 | -€31,971 | -9.8% |
| Financial income | 75/76B | €1,819 | €68,480 | +€66,661 | +3665.7% |
| Recurring financial income | 75 | €1,819 | €68,480 | +€66,661 | +3665.7% |
| Financial charges | 65/66B | €2,117 | €20,920 | +€18,803 | +888.3% |
| Recurring financial charges | 65 | €2,117 | €20,920 | +€18,803 | +888.3% |
| Profit (loss) for the period before taxes | 9903 | €327,117 | €343,003 | +€15,887 | +4.9% |
| Income taxes | 67/77 | €110,368 | €109,252 | -€1,117 | -1.0% |
| Profit (loss) for the period | 9904 | €216,748 | €233,752 | +€17,003 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €216,748 | €233,752 | +€17,003 | +7.8% |
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 5 October 2026 via checked.be.