VERHOEVEN: 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.
VERHOEVEN
Largest movements
- Cash +€244,800
up €244,800 (+118.9%), from €205,818 to €450,618
mainly Net result for the year (+€403,033) and Depreciation (+€142,573)
- Tangible fixed assets +€135,935
up €135,935 (+27.4%), from €496,025 to €631,960
of which Furniture and vehicles: +€125,085
- Receivables within one year -€30,949
down €30,949 (-4.4%), from €710,768 to €679,819
of which Trade receivables: -€36,632
- Reserves +€320,467
up €320,467 (+28.4%), from €1.1m to €1.4m
of which Tax-exempt reserves: +€204,571
- Tax, wage and social debts +€30,070
up €30,070 (+47.9%), from €62,794 to €92,865
of which Remuneration and social security: +€37,176
- Gross operating margin +€224,779
up €224,779 (+15.7%), from €1.4m to €1.7m
- Taxes +€49,784
up €49,784 (+46.7%), from €106,595 to €156,378
- Other operating charges +€18,990
up €18,990 (+223.8%), from €8,484 to €27,474
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 | €1,437,567 | €1,799,303 | +€361,735 | +25.2% |
| Fixed assets | 21/28 | €496,025 | €631,960 | +€135,935 | +27.4% |
| Tangible fixed assets | 22/27 | €496,025 | €631,960 | +€135,935 | +27.4% |
| Land and buildings | 22 | €77,354 | €108,804 | +€31,449 | +40.7% |
| Plant, machinery and equipment | 23 | €139,137 | €118,538 | -€20,599 | -14.8% |
| Furniture and vehicles | 24 | €279,534 | €404,619 | +€125,085 | +44.7% |
| Current assets | 29/58 | €941,542 | €1,167,342 | +€225,800 | +24.0% |
| Amounts receivable within one year | 40/41 | €710,768 | €679,819 | -€30,949 | -4.4% |
| Trade receivables | 40 | €672,569 | €635,936 | -€36,632 | -5.4% |
| Other amounts receivable | 41 | €38,199 | €43,883 | +€5,684 | +14.9% |
| Cash at bank and in hand | 54/58 | €205,818 | €450,618 | +€244,800 | +118.9% |
| Deferred charges and accrued income | 490/1 | €24,956 | €36,905 | +€11,949 | +47.9% |
| Total equity and liabilities | 10/49 | €1,437,567 | €1,799,303 | +€361,735 | +25.2% |
| Equity | 10/15 | €1,191,303 | €1,511,770 | +€320,467 | +26.9% |
| Contributions | 10/11 | €62,013 | €62,013 | = | 0.0% |
| Reserves | 13 | €1,129,291 | €1,449,758 | +€320,467 | +28.4% |
| Tax-exempt reserves | 132 | €175,500 | €380,071 | +€204,571 | +116.6% |
| Distributable reserves | 133 | €953,791 | €1,069,687 | +€115,896 | +12.2% |
| Amounts payable | 17/49 | €246,264 | €287,533 | +€41,268 | +16.8% |
| Amounts payable within one year | 42/48 | €242,830 | €287,533 | +€44,703 | +18.4% |
| Trade debts | 44 | €22,145 | €39,504 | +€17,358 | +78.4% |
| Suppliers | 440/4 | €22,145 | €39,504 | +€17,358 | +78.4% |
| Taxes, remuneration and social security | 45 | €62,794 | €92,865 | +€30,070 | +47.9% |
| Taxes | 450/3 | €26,705 | €19,599 | -€7,106 | -26.6% |
| Remuneration and social security | 454/9 | €36,089 | €73,266 | +€37,176 | +103.0% |
| Other amounts payable | 47/48 | €157,890 | €155,164 | -€2,726 | -1.7% |
| Accrued charges and deferred income | 492/3 | €3,435 | - | -€3,435 | |
| Non-recurring operating income | 76A | €1,626 | €6,683 | +€5,057 | +311.0% |
| Remuneration, social security and pensions | 62 | €902,487 | €909,257 | +€6,770 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,288 | €142,573 | -€4,715 | -3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,839 | +€14,839 | |
| Other operating charges | 640/8 | €8,484 | €27,474 | +€18,990 | +223.8% |
| Non-recurring operating charges | 66A | €16,173 | - | -€16,173 | |
| Gross operating margin | 9900 | €1,435,658 | €1,660,437 | +€224,779 | +15.7% |
| Operating profit (loss) | 9901 | €361,226 | €566,295 | +€205,068 | +56.8% |
| Financial income | 75/76B | €1,971 | €3,632 | +€1,660 | +84.2% |
| Recurring financial income | 75 | €1,971 | €3,012 | +€1,040 | +52.8% |
| Non-recurring financial income | 76B | - | €620 | +€620 | |
| Financial charges | 65/66B | €10,827 | €10,516 | -€311 | -2.9% |
| Recurring financial charges | 65 | €10,827 | €10,516 | -€311 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €352,371 | €559,411 | +€207,040 | +58.8% |
| Income taxes | 67/77 | €106,595 | €156,378 | +€49,784 | +46.7% |
| Profit (loss) for the period | 9904 | €245,776 | €403,033 | +€157,256 | +64.0% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €204,571 | +€99,321 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €140,526 | €198,462 | +€57,935 | +41.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.