Verhoeven PH: 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 PH
Largest movements
- Receivables within one year +€118,450
up €118,450 (+8.9%), from €1.3m to €1.5m
- Tangible fixed assets -€43,243
down €43,243 (-7.7%), from €560,318 to €517,076
of which Land and buildings: -€23,404
- Reserves +€137,639
up €137,639 (+9.2%), from €1.5m to €1.6m
of which Distributable reserves: +€137,639
- Debts after one year -€70,295
down €70,295 (-34.8%), from €202,169 to €131,874
- Short-term financial debts +€26,719
up €26,719 (+122%), from €21,985 to €48,704
- Gross operating margin +€30,099
up €30,099 (+6.0%), from €500,659 to €530,758
- Depreciation +€15,393
up €15,393 (+55.3%), from €27,849 to €43,243
- Taxes +€8,969
up €8,969 (+5.7%), from €157,917 to €166,886
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 | €1,914,178 | €2,004,677 | +€90,499 | +4.7% |
| Fixed assets | 21/28 | €563,077 | €519,835 | -€43,243 | -7.7% |
| Tangible fixed assets | 22/27 | €560,318 | €517,076 | -€43,243 | -7.7% |
| Land and buildings | 22 | €466,953 | €443,548 | -€23,404 | -5.0% |
| Furniture and vehicles | 24 | €93,366 | €73,527 | -€19,838 | -21.2% |
| Financial fixed assets | 28 | €2,759 | €2,759 | = | 0.0% |
| Current assets | 29/58 | €1,351,101 | €1,484,842 | +€133,741 | +9.9% |
| Amounts receivable within one year | 40/41 | €1,333,486 | €1,451,936 | +€118,450 | +8.9% |
| Other amounts receivable | 41 | €1,333,486 | €1,451,936 | +€118,450 | +8.9% |
| Cash at bank and in hand | 54/58 | €1,379 | €15,559 | +€14,180 | +1,028% |
| Deferred charges and accrued income | 490/1 | €16,235 | €17,347 | +€1,112 | +6.8% |
| Total equity and liabilities | 10/49 | €1,914,178 | €2,004,677 | +€90,499 | +4.7% |
| Equity | 10/15 | €1,507,204 | €1,644,842 | +€137,639 | +9.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,494,804 | €1,632,442 | +€137,639 | +9.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,492,944 | €1,630,582 | +€137,639 | +9.2% |
| Amounts payable | 17/49 | €406,974 | €359,834 | -€47,140 | -11.6% |
| Amounts payable after more than one year | 17 | €202,169 | €131,874 | -€70,295 | -34.8% |
| Financial debts | 170/4 | €202,169 | €131,874 | -€70,295 | -34.8% |
| Amounts payable within one year | 42/48 | €204,805 | €227,960 | +€23,155 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €68,095 | €70,295 | +€2,200 | +3.2% |
| Financial debts | 43 | €21,985 | €48,704 | +€26,719 | +122% |
| Credit institutions | 430/8 | €21,985 | €48,704 | +€26,719 | +122% |
| Trade debts | 44 | €28,668 | €30,422 | +€1,754 | +6.1% |
| Suppliers | 440/4 | €28,668 | €30,422 | +€1,754 | +6.1% |
| Taxes, remuneration and social security | 45 | €86,058 | €78,539 | -€7,519 | -8.7% |
| Taxes | 450/3 | €86,058 | €78,539 | -€7,519 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,849 | €43,243 | +€15,393 | +55.3% |
| Other operating charges | 640/8 | €5,461 | €6,954 | +€1,493 | +27.3% |
| Gross operating margin | 9900 | €500,659 | €530,758 | +€30,099 | +6.0% |
| Operating profit (loss) | 9901 | €467,348 | €480,561 | +€13,213 | +2.8% |
| Financial income | 75/76B | €40,720 | €44,555 | +€3,834 | +9.4% |
| Recurring financial income | 75 | €40,720 | €44,555 | +€3,834 | +9.4% |
| Financial charges | 65/66B | €10,643 | €14,187 | +€3,544 | +33.3% |
| Recurring financial charges | 65 | €10,643 | €14,187 | +€3,544 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €497,426 | €510,929 | +€13,503 | +2.7% |
| Income taxes | 67/77 | €157,917 | €166,886 | +€8,969 | +5.7% |
| Profit (loss) for the period | 9904 | €339,509 | €344,043 | +€4,534 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €339,509 | €344,043 | +€4,534 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.