VERHEYDEN: 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.
VERHEYDEN
Largest movements
- Cash -€65,462
down €65,462 (-91.3%), from €71,678 to €6,216
mainly Investment in fixed assets (net) (-€92,838) and Net result for the year (-€23,074)
- Tangible fixed assets +€60,989
up €60,989 (+105.0%), from €58,082 to €119,071
of which Furniture and vehicles: +€62,967
- Receivables within one year -€3,546
down €3,546 (-31.3%), from €11,320 to €7,774
of which Other amounts receivable: -€1,833
- Debts after one year +€25,573
new in 2025: €25,573
- Profit (loss) carried forward -€23,074
down €23,074 (-37.0%), from €62,392 to €39,318
- Tax, wage and social debts -€11,555
down €11,555 (-57.4%), from €20,146 to €8,591
- Other debts -€8,899
down €8,899 (-15.8%), from €56,467 to €47,568
- Current portion of long-term debt +€7,660
new in 2025: €7,660
- Gross operating margin -€36,358
down €36,358 (-75.3%), from €48,304 to €11,946
- Depreciation +€14,784
up €14,784 (+86.6%), from €17,065 to €31,849
- Taxes -€5,903
down €5,903 (-97.8%), from €6,035 to €132
- Financial charges +€1,137
up €1,137 (+649.7%), from €175 to €1,312
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 | €142,767 | €133,814 | -€8,953 | -6.3% |
| Fixed assets | 21/28 | €58,082 | €119,071 | +€60,989 | +105.0% |
| Tangible fixed assets | 22/27 | €58,082 | €119,071 | +€60,989 | +105.0% |
| Plant, machinery and equipment | 23 | €6,832 | €4,854 | -€1,978 | -29.0% |
| Furniture and vehicles | 24 | €51,250 | €114,217 | +€62,967 | +122.9% |
| Current assets | 29/58 | €84,685 | €14,743 | -€69,942 | -82.6% |
| Amounts receivable within one year | 40/41 | €11,320 | €7,774 | -€3,546 | -31.3% |
| Trade receivables | 40 | €9,320 | €7,607 | -€1,713 | -18.4% |
| Other amounts receivable | 41 | €2,000 | €167 | -€1,833 | -91.7% |
| Cash at bank and in hand | 54/58 | €71,678 | €6,216 | -€65,462 | -91.3% |
| Deferred charges and accrued income | 490/1 | €1,687 | €753 | -€934 | -55.4% |
| Total equity and liabilities | 10/49 | €142,767 | €133,814 | -€8,953 | -6.3% |
| Equity | 10/15 | €63,592 | €40,518 | -€23,074 | -36.3% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,392 | €39,318 | -€23,074 | -37.0% |
| Amounts payable | 17/49 | €79,175 | €93,296 | +€14,121 | +17.8% |
| Amounts payable after more than one year | 17 | - | €25,573 | +€25,573 | |
| Financial debts | 170/4 | - | €25,573 | +€25,573 | |
| Amounts payable within one year | 42/48 | €78,161 | €66,656 | -€11,505 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,660 | +€7,660 | |
| Trade debts | 44 | €1,548 | €2,837 | +€1,289 | +83.3% |
| Suppliers | 440/4 | €1,548 | €2,837 | +€1,289 | +83.3% |
| Taxes, remuneration and social security | 45 | €20,146 | €8,591 | -€11,555 | -57.4% |
| Taxes | 450/3 | €20,146 | €8,591 | -€11,555 | -57.4% |
| Other amounts payable | 47/48 | €56,467 | €47,568 | -€8,899 | -15.8% |
| Accrued charges and deferred income | 492/3 | €1,014 | €1,067 | +€53 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,065 | €31,849 | +€14,784 | +86.6% |
| Other operating charges | 640/8 | €1,479 | €1,730 | +€251 | +17.0% |
| Gross operating margin | 9900 | €48,304 | €11,946 | -€36,358 | -75.3% |
| Operating profit (loss) | 9901 | €29,760 | -€21,633 | -€51,393 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €175 | €1,312 | +€1,137 | +649.7% |
| Recurring financial charges | 65 | €175 | €1,312 | +€1,137 | +649.7% |
| Profit (loss) for the period before taxes | 9903 | €29,585 | -€22,942 | -€52,527 | |
| Income taxes | 67/77 | €6,035 | €132 | -€5,903 | -97.8% |
| Profit (loss) for the period | 9904 | €23,550 | -€23,074 | -€46,624 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,550 | -€23,074 | -€46,624 |
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 6 October 2026 via checked.be.