VERHELLE: 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.
VERHELLE
Largest movements
- Receivables within one year +€47,526
up €47,526 (+113.3%), from €41,960 to €89,486
of which Trade receivables: +€36,158
- Current investments -€38,170
down €38,170 (-99.7%), from €38,274 to €104
- Tangible fixed assets -€15,935
down €15,935 (-11.8%), from €135,417 to €119,482
of which Land and buildings: -€15,192
- Deferred charges and accrued income +€7,357
new in 2025: €7,357
- Cash +€2,959
up €2,959 (+643.8%), from €460 to €3,419
mainly Current investments (+€38,170) and Depreciation (+€15,935)
- Trade debts +€7,463
up €7,463 (+1152.1%), from €648 to €8,111
- Reserves -€3,183
down €3,183 (-1.8%), from €173,621 to €170,439
of which Distributable reserves: -€3,183
- Gross operating margin +€19,744
up €19,744, from -€1,544 to €18,201
- Taxes -€1,947
down €1,947 (-97.2%), from €2,002 to €56
- Financial income +€1,366
up €1,366 (+75.5%), from €1,809 to €3,174
- Other operating charges -€853
down €853 (-9.1%), from €9,359 to €8,506
- Depreciation +€401
up €401 (+2.6%), from €15,534 to €15,935
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 | €276,161 | €279,898 | +€3,737 | +1.4% |
| Fixed assets | 21/28 | €135,467 | €119,532 | -€15,935 | -11.8% |
| Tangible fixed assets | 22/27 | €135,417 | €119,482 | -€15,935 | -11.8% |
| Land and buildings | 22 | €134,142 | €118,950 | -€15,192 | -11.3% |
| Plant, machinery and equipment | 23 | €1,275 | €532 | -€743 | -58.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €140,694 | €160,366 | +€19,672 | +14.0% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,960 | €89,486 | +€47,526 | +113.3% |
| Trade receivables | 40 | €6,413 | €42,571 | +€36,158 | +563.8% |
| Other amounts receivable | 41 | €35,547 | €46,915 | +€11,368 | +32.0% |
| Current investments | 50/53 | €38,274 | €104 | -€38,170 | -99.7% |
| Cash at bank and in hand | 54/58 | €460 | €3,419 | +€2,959 | +643.8% |
| Deferred charges and accrued income | 490/1 | - | €7,357 | +€7,357 | |
| Total equity and liabilities | 10/49 | €276,161 | €279,898 | +€3,737 | +1.4% |
| Equity | 10/15 | €273,621 | €270,439 | -€3,183 | -1.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €173,621 | €170,439 | -€3,183 | -1.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,750 | €23,750 | = | 0.0% |
| Distributable reserves | 133 | €139,871 | €136,689 | -€3,183 | -2.3% |
| Amounts payable | 17/49 | €2,539 | €9,459 | +€6,920 | +272.5% |
| Amounts payable within one year | 42/48 | €2,539 | €9,459 | +€6,920 | +272.5% |
| Trade debts | 44 | €648 | €8,111 | +€7,463 | +1152.1% |
| Suppliers | 440/4 | €648 | €8,111 | +€7,463 | +1152.1% |
| Taxes, remuneration and social security | 45 | €1,891 | €1,348 | -€543 | -28.7% |
| Taxes | 450/3 | €1,891 | €1,348 | -€543 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,534 | €15,935 | +€401 | +2.6% |
| Other operating charges | 640/8 | €9,359 | €8,506 | -€853 | -9.1% |
| Gross operating margin | 9900 | -€1,544 | €18,201 | +€19,744 | |
| Operating profit (loss) | 9901 | -€26,436 | -€6,240 | +€20,196 | +76.4% |
| Financial income | 75/76B | €1,809 | €3,174 | +€1,366 | +75.5% |
| Recurring financial income | 75 | €1,809 | €3,174 | +€1,366 | +75.5% |
| Financial charges | 65/66B | €72 | €61 | -€10 | -14.4% |
| Recurring financial charges | 65 | €72 | €61 | -€10 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,700 | -€3,127 | +€21,572 | +87.3% |
| Income taxes | 67/77 | €2,002 | €56 | -€1,947 | -97.2% |
| Profit (loss) for the period | 9904 | -€26,702 | -€3,183 | +€23,519 | +88.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,702 | -€3,183 | +€23,519 | +88.1% |
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 9 October 2026 via checked.be.