VERHENCO: 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.
VERHENCO
Largest movements
- Tangible fixed assets -€5,098
down €5,098 (-27.2%), from €18,712 to €13,614
of which Furniture and vehicles: -€2,918
- Cash +€3,184
up €3,184 (+1,628%), from €196 to €3,379
mainly Other debts (+€5,942) and Tax, wage and social debts (+€3,825)
- Receivables within one year +€2,901
up €2,901 (+19.7%), from €14,742 to €17,642
of which Trade receivables: +€2,822
- Other debts +€5,942
up €5,942 (+12.2%), from €48,522 to €54,464
- Tax, wage and social debts +€3,825
up €3,825 (+59.4%), from €6,440 to €10,265
- Debts after one year -€3,301
down €3,301 (-2.4%), from €137,968 to €134,667
- Profit (loss) carried forward -€3,277
down €3,277 (-1.9%), from -€174,302 to -€177,579
- Accrued charges and deferred income -€2,761
down €2,761 (-100%), from €2,761 to €0
- Gross operating margin +€8,440
up €8,440 (+140%), from €6,035 to €14,474
- Other operating charges -€2,731
down €2,731 (-78.8%), from €3,465 to €734
- Depreciation -€550
down €550 (-14.2%), from €3,876 to €3,325
- Financial charges -€461
down €461 (-3.3%), from €14,170 to €13,709
- Taxes -€145
down €145 (-100%), from €145 to €0
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 | €52,502 | €53,069 | +€567 | +1.1% |
| Fixed assets | 21/28 | €18,712 | €13,614 | -€5,098 | -27.2% |
| Tangible fixed assets | 22/27 | €18,712 | €13,614 | -€5,098 | -27.2% |
| Land and buildings | 22 | €11,997 | €9,887 | -€2,110 | -17.6% |
| Plant, machinery and equipment | 23 | €70 | €0 | -€70 | -100% |
| Furniture and vehicles | 24 | €6,646 | €3,728 | -€2,918 | -43.9% |
| Current assets | 29/58 | €33,789 | €39,455 | +€5,666 | +16.8% |
| Stocks and contracts in progress | 3 | €17,800 | €17,800 | = | 0.0% |
| Stocks | 30/36 | €17,800 | €17,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,742 | €17,642 | +€2,901 | +19.7% |
| Trade receivables | 40 | €14,336 | €17,159 | +€2,822 | +19.7% |
| Other amounts receivable | 41 | €405 | €484 | +€78 | +19.3% |
| Cash at bank and in hand | 54/58 | €196 | €3,379 | +€3,184 | +1,628% |
| Deferred charges and accrued income | 490/1 | €1,052 | €633 | -€419 | -39.8% |
| Total equity and liabilities | 10/49 | €52,502 | €53,069 | +€567 | +1.1% |
| Equity | 10/15 | -€168,097 | -€171,374 | -€3,277 | -1.9% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,302 | -€177,579 | -€3,277 | -1.9% |
| Amounts payable | 17/49 | €220,599 | €224,443 | +€3,845 | +1.7% |
| Amounts payable after more than one year | 17 | €137,968 | €134,667 | -€3,301 | -2.4% |
| Financial debts | 170/4 | €137,968 | €134,667 | -€3,301 | -2.4% |
| Amounts payable within one year | 42/48 | €79,870 | €89,777 | +€9,906 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €3,009 | €3,301 | +€292 | +9.7% |
| Trade debts | 44 | €17,663 | €17,088 | -€576 | -3.3% |
| Suppliers | 440/4 | €17,663 | €17,088 | -€576 | -3.3% |
| Advances received on contracts in progress | 46 | €4,235 | €4,659 | +€424 | +10.0% |
| Taxes, remuneration and social security | 45 | €6,440 | €10,265 | +€3,825 | +59.4% |
| Taxes | 450/3 | €6,440 | €10,265 | +€3,825 | +59.4% |
| Other amounts payable | 47/48 | €48,522 | €54,464 | +€5,942 | +12.2% |
| Accrued charges and deferred income | 492/3 | €2,761 | €0 | -€2,761 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,876 | €3,325 | -€550 | -14.2% |
| Other operating charges | 640/8 | €3,465 | €734 | -€2,731 | -78.8% |
| Gross operating margin | 9900 | €6,035 | €14,474 | +€8,440 | +140% |
| Operating profit (loss) | 9901 | -€1,305 | €10,415 | +€11,720 | |
| Financial income | 75/76B | €54 | €18 | -€36 | -67.4% |
| Recurring financial income | 75 | €54 | €18 | -€36 | -67.4% |
| Financial charges | 65/66B | €14,170 | €13,709 | -€461 | -3.3% |
| Recurring financial charges | 65 | €14,170 | €13,709 | -€461 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,422 | -€3,277 | +€12,145 | +78.8% |
| Income taxes | 67/77 | €145 | €0 | -€145 | -100% |
| Profit (loss) for the period | 9904 | -€15,567 | -€3,277 | +€12,290 | +78.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,567 | -€3,277 | +€12,290 | +78.9% |
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.