VERHELO: 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.
VERHELO
Largest movements
- Cash +€6,102
up €6,102 (+129%), from €4,744 to €10,846
mainly Net result for the year (+€6,821) and Tax, wage and social debts (+€3,435)
- Receivables within one year +€626
up €626 (+9.3%), from €6,720 to €7,347
of which Other amounts receivable: +€626
- Tangible fixed assets -€564
down €564 (-20.2%), from €2,792 to €2,228
- Reserves +€6,821
up €6,821 (+48.5%), from €14,066 to €20,887
- Other debts -€5,387
down €5,387 (-100%), from €5,387 to €0
- Tax, wage and social debts +€3,435
up €3,435 (+50.4%), from €6,817 to €10,252
- Trade debts +€1,193
up €1,193 (+1,347%), from €89 to €1,282
- Gross operating margin +€3,476
up €3,476 (+38.4%), from €9,053 to €12,529
- Financial charges +€1,037
up €1,037, from €0 to €1,037
- Taxes +€689
up €689 (+24.3%), from €2,836 to €3,525
- Depreciation +€537
up €537 (+1,995%), from €27 to €564
- Other operating charges +€196
up €196 (+50.7%), from €386 to €582
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,359 | €35,421 | +€6,061 | +20.6% |
| Fixed assets | 21/28 | €17,792 | €17,228 | -€564 | -3.2% |
| Tangible fixed assets | 22/27 | €2,792 | €2,228 | -€564 | -20.2% |
| Furniture and vehicles | 24 | €2,792 | €2,228 | -€564 | -20.2% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €11,567 | €18,192 | +€6,625 | +57.3% |
| Amounts receivable within one year | 40/41 | €6,720 | €7,347 | +€626 | +9.3% |
| Trade receivables | 40 | €6,720 | €6,720 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €626 | +€626 | |
| Cash at bank and in hand | 54/58 | €4,744 | €10,846 | +€6,102 | +129% |
| Deferred charges and accrued income | 490/1 | €103 | €0 | -€103 | -100% |
| Total equity and liabilities | 10/49 | €29,359 | €35,421 | +€6,061 | +20.6% |
| Equity | 10/15 | €17,066 | €23,887 | +€6,821 | +40.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €14,066 | €20,887 | +€6,821 | +48.5% |
| Distributable reserves | 133 | €14,066 | €20,887 | +€6,821 | +48.5% |
| Amounts payable | 17/49 | €12,293 | €11,534 | -€759 | -6.2% |
| Amounts payable within one year | 42/48 | €12,293 | €11,534 | -€759 | -6.2% |
| Trade debts | 44 | €89 | €1,282 | +€1,193 | +1,347% |
| Suppliers | 440/4 | €89 | €1,282 | +€1,193 | +1,347% |
| Taxes, remuneration and social security | 45 | €6,817 | €10,252 | +€3,435 | +50.4% |
| Taxes | 450/3 | €6,817 | €10,252 | +€3,435 | +50.4% |
| Other amounts payable | 47/48 | €5,387 | €0 | -€5,387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27 | €564 | +€537 | +1,995% |
| Other operating charges | 640/8 | €386 | €582 | +€196 | +50.7% |
| Gross operating margin | 9900 | €9,053 | €12,529 | +€3,476 | +38.4% |
| Operating profit (loss) | 9901 | €8,640 | €11,383 | +€2,743 | +31.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €0 | €1,037 | +€1,037 | |
| Recurring financial charges | 65 | €0 | €1,037 | +€1,037 | |
| Profit (loss) for the period before taxes | 9903 | €8,640 | €10,346 | +€1,706 | +19.7% |
| Income taxes | 67/77 | €2,836 | €3,525 | +€689 | +24.3% |
| Profit (loss) for the period | 9904 | €5,804 | €6,821 | +€1,017 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,804 | €6,821 | +€1,017 | +17.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.