VERHEYDEN & PARTNERS: 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.
VERHEYDEN & PARTNERS
Largest movements
- Cash +€25,084
up €25,084 (+25.0%), from €100,188 to €125,272
mainly Net result for the year (+€40,580) and Trade debts (+€8,952)
- Receivables within one year +€13,898
up €13,898 (+69.4%), from €20,023 to €33,921
of which Trade receivables: +€14,470
- Tangible fixed assets +€7,417
up €7,417 (+261%), from €2,847 to €10,264
of which Furniture and vehicles: +€8,012
- Profit (loss) carried forward +€40,580
up €40,580 (+69.4%), from €58,433 to €99,013
- Current portion of long-term debt -€10,087
no longer reported in 2025 (was €10,087)
- Trade debts +€8,952
up €8,952 (+77.5%), from €11,550 to €20,503
- Tax, wage and social debts +€8,626
up €8,626 (+43.4%), from €19,872 to €28,498
of which Taxes: +€5,467
- Gross operating margin +€36,947
up €36,947 (+33.6%), from €109,970 to €146,917
- Turnover +€25,630
up €25,630 (+7.1%), from €362,015 to €387,645
- Staff costs +€22,302
up €22,302 (+35.1%), from €63,606 to €85,908
- Purchases and services -€11,317
down €11,317 (-4.5%), from €252,045 to €240,728
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 | €125,430 | €171,845 | +€46,416 | +37.0% |
| Fixed assets | 21/28 | €3,443 | €10,860 | +€7,417 | +215% |
| Tangible fixed assets | 22/27 | €2,847 | €10,264 | +€7,417 | +261% |
| Plant, machinery and equipment | 23 | €1,219 | €625 | -€595 | -48.8% |
| Furniture and vehicles | 24 | €1,627 | €9,639 | +€8,012 | +492% |
| Financial fixed assets | 28 | €596 | €596 | = | 0.0% |
| Current assets | 29/58 | €121,987 | €160,985 | +€38,999 | +32.0% |
| Amounts receivable within one year | 40/41 | €20,023 | €33,921 | +€13,898 | +69.4% |
| Trade receivables | 40 | €19,399 | €33,869 | +€14,470 | +74.6% |
| Other amounts receivable | 41 | €624 | €53 | -€572 | -91.6% |
| Current investments | 50/53 | €931 | €931 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €100,188 | €125,272 | +€25,084 | +25.0% |
| Deferred charges and accrued income | 490/1 | €844 | €861 | +€17 | +2.0% |
| Total equity and liabilities | 10/49 | €125,430 | €171,845 | +€46,416 | +37.0% |
| Equity | 10/15 | €78,884 | €119,464 | +€40,580 | +51.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,433 | €99,013 | +€40,580 | +69.4% |
| Amounts payable | 17/49 | €46,546 | €52,382 | +€5,836 | +12.5% |
| Amounts payable within one year | 42/48 | €46,546 | €52,382 | +€5,836 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €10,087 | - | -€10,087 | |
| Trade debts | 44 | €11,550 | €20,503 | +€8,952 | +77.5% |
| Suppliers | 440/4 | €11,550 | €20,503 | +€8,952 | +77.5% |
| Taxes, remuneration and social security | 45 | €19,872 | €28,498 | +€8,626 | +43.4% |
| Taxes | 450/3 | €14,409 | €19,876 | +€5,467 | +37.9% |
| Remuneration and social security | 454/9 | €5,463 | €8,622 | +€3,159 | +57.8% |
| Other amounts payable | 47/48 | €5,037 | €3,381 | -€1,656 | -32.9% |
| Turnover | 70 | €362,015 | €387,645 | +€25,630 | +7.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €252,045 | €240,728 | -€11,317 | -4.5% |
| Remuneration, social security and pensions | 62 | €63,606 | €85,908 | +€22,302 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,148 | €2,443 | -€3,705 | -60.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €250 | +€250 | |
| Other operating charges | 640/8 | €5,304 | €2,187 | -€3,117 | -58.8% |
| Non-recurring operating charges | 66A | - | €2,572 | +€2,572 | |
| Gross operating margin | 9900 | €109,970 | €146,917 | +€36,947 | +33.6% |
| Operating profit (loss) | 9901 | €34,912 | €53,557 | +€18,644 | +53.4% |
| Financial income | 75/76B | €564 | €270 | -€294 | -52.1% |
| Recurring financial income | 75 | €564 | €270 | -€294 | -52.1% |
| Financial charges | 65/66B | €213 | €124 | -€89 | -41.7% |
| Recurring financial charges | 65 | €213 | €124 | -€89 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €35,263 | €53,703 | +€18,439 | +52.3% |
| Income taxes | 67/77 | €9,718 | €13,123 | +€3,405 | +35.0% |
| Profit (loss) for the period | 9904 | €25,545 | €40,580 | +€15,034 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,545 | €40,580 | +€15,034 | +58.9% |
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 23 October 2026 via checked.be.