VERHOEVEN FRANK: 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.
VERHOEVEN FRANK
Largest movements
- Tangible fixed assets -€45,943
down €45,943 (-6.2%), from €745,998 to €700,055
of which Land and buildings: -€41,053
- Cash -€34,808
down €34,808 (-77.7%), from €44,803 to €9,994
mainly Debts after one year (-€46,667) and Net result for the year (-€14,420)
- Current investments +€10,098
up €10,098 (+16.8%), from €60,254 to €70,352
- Debts after one year -€46,667
down €46,667 (-24.6%), from €190,000 to €143,333
- Other debts -€10,573
down €10,573 (-23.2%), from €45,613 to €35,039
- Profit (loss) carried forward -€9,652
down €9,652 (-74.2%), from -€13,003 to -€22,655
- Gross operating margin +€53,980
up €53,980, from -€5,501 to €48,479
- Depreciation +€3,794
up €3,794 (+8.9%), from €42,832 to €46,626
- Other operating charges -€1,032
down €1,032 (-7.0%), from €14,680 to €13,648
- Financial charges -€533
down €533 (-12.3%), from €4,352 to €3,818
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 | €851,054 | €780,401 | -€70,653 | -8.3% |
| Fixed assets | 21/28 | €745,998 | €700,055 | -€45,943 | -6.2% |
| Tangible fixed assets | 22/27 | €745,998 | €700,055 | -€45,943 | -6.2% |
| Land and buildings | 22 | €727,321 | €686,268 | -€41,053 | -5.6% |
| Plant, machinery and equipment | 23 | €18,677 | €13,787 | -€4,889 | -26.2% |
| Current assets | 29/58 | €105,056 | €80,346 | -€24,710 | -23.5% |
| Current investments | 50/53 | €60,254 | €70,352 | +€10,098 | +16.8% |
| Cash at bank and in hand | 54/58 | €44,803 | €9,994 | -€34,808 | -77.7% |
| Total equity and liabilities | 10/49 | €851,054 | €780,401 | -€70,653 | -8.3% |
| Equity | 10/15 | €437,463 | €423,044 | -€14,420 | -3.3% |
| Contributions | 10/11 | €32,226 | €32,226 | = | 0.0% |
| Capital | 10 | €32,226 | €32,226 | = | 0.0% |
| Issued capital | 100 | €32,226 | €32,226 | = | 0.0% |
| Reserves | 13 | €418,240 | €413,472 | -€4,768 | -1.1% |
| Non-distributable reserves | 130/1 | €3,223 | €3,223 | = | 0.0% |
| Legal reserve | 130 | €3,223 | €3,223 | = | 0.0% |
| Tax-exempt reserves | 132 | €415,018 | €410,250 | -€4,768 | -1.1% |
| Profit (loss) carried forward | 14 | -€13,003 | -€22,655 | -€9,652 | -74.2% |
| Provisions and deferred taxes | 16 | €134,567 | €133,375 | -€1,192 | -0.9% |
| Deferred taxes | 168 | €134,567 | €133,375 | -€1,192 | -0.9% |
| Amounts payable | 17/49 | €279,024 | €223,983 | -€55,041 | -19.7% |
| Amounts payable after more than one year | 17 | €190,000 | €143,333 | -€46,667 | -24.6% |
| Financial debts | 170/4 | €190,000 | €143,333 | -€46,667 | -24.6% |
| Amounts payable within one year | 42/48 | €89,023 | €80,649 | -€8,374 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €43,333 | +€3,333 | +8.3% |
| Trade debts | 44 | - | €616 | +€616 | |
| Suppliers | 440/4 | - | €616 | +€616 | |
| Advances received on contracts in progress | 46 | €1,661 | €1,661 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,750 | - | -€1,750 | |
| Taxes | 450/3 | €1,750 | - | -€1,750 | |
| Other amounts payable | 47/48 | €45,613 | €35,039 | -€10,573 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,832 | €46,626 | +€3,794 | +8.9% |
| Other operating charges | 640/8 | €14,680 | €13,648 | -€1,032 | -7.0% |
| Gross operating margin | 9900 | -€5,501 | €48,479 | +€53,980 | |
| Operating profit (loss) | 9901 | -€63,012 | -€11,794 | +€51,218 | +81.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +10.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +10.0% |
| Financial charges | 65/66B | €4,352 | €3,818 | -€533 | -12.3% |
| Recurring financial charges | 65 | €4,352 | €3,818 | -€533 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€67,363 | -€15,612 | +€51,752 | +76.8% |
| Transfer from deferred taxes | 780 | €2,312 | €1,192 | -€1,120 | -48.5% |
| Profit (loss) for the period | 9904 | -€65,051 | -€14,420 | +€50,631 | +77.8% |
| Transfer from tax-exempt reserves | 789 | €9,250 | €4,768 | -€4,482 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,802 | -€9,652 | +€46,150 | +82.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.