VERHOVERT: 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.
VERHOVERT
Largest movements
- Cash +€68,374
up €68,374 (+238.8%), from €28,627 to €97,001
mainly Trade debts (+€33,613) and Net result for the year (+€30,707)
- Tangible fixed assets -€18,901
down €18,901 (-34.7%), from €54,461 to €35,560
of which Furniture and vehicles: -€9,948
- Receivables within one year -€7,642
down €7,642 (-2.0%), from €379,451 to €371,809
of which Trade receivables: -€29,478
- Trade debts +€33,613
up €33,613 (+29.1%), from €115,385 to €148,998
- Reserves +€30,707
up €30,707 (+10.8%), from €285,375 to €316,082
- Other debts -€30,386
down €30,386 (-33.8%), from €89,822 to €59,435
- Short-term financial debts +€30,002
up €30,002 (+3522.2%), from €852 to €30,854
of which Other loans: +€30,000
- Accrued charges and deferred income -€11,984
down €11,984 (-73.9%), from €16,214 to €4,230
- Taxes -€3,797
down €3,797 (-20.3%), from €18,684 to €14,887
- Financial income -€3,599
down €3,599 (-24.1%), from €14,960 to €11,361
- Financial charges +€3,044
up €3,044 (+73.8%), from €4,123 to €7,166
- Staff costs +€1,823
up €1,823 (+2.1%), from €86,627 to €88,450
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 | €568,403 | €615,535 | +€47,132 | +8.3% |
| Fixed assets | 21/28 | €57,521 | €37,611 | -€19,911 | -34.6% |
| Intangible fixed assets | 21 | €1,728 | €719 | -€1,009 | -58.4% |
| Tangible fixed assets | 22/27 | €54,461 | €35,560 | -€18,901 | -34.7% |
| Plant, machinery and equipment | 23 | €3,028 | €3,304 | +€276 | +9.1% |
| Furniture and vehicles | 24 | €25,293 | €15,345 | -€9,948 | -39.3% |
| Leasing and similar rights | 25 | €12,165 | €7,432 | -€4,734 | -38.9% |
| Other tangible fixed assets | 26 | €13,975 | €9,479 | -€4,496 | -32.2% |
| Financial fixed assets | 28 | €1,332 | €1,332 | = | 0.0% |
| Current assets | 29/58 | €510,882 | €577,925 | +€67,043 | +13.1% |
| Stocks and contracts in progress | 3 | €97,200 | €103,302 | +€6,102 | +6.3% |
| Stocks | 30/36 | €97,200 | €103,302 | +€6,102 | +6.3% |
| Amounts receivable within one year | 40/41 | €379,451 | €371,809 | -€7,642 | -2.0% |
| Trade receivables | 40 | €358,497 | €329,019 | -€29,478 | -8.2% |
| Other amounts receivable | 41 | €20,953 | €42,789 | +€21,836 | +104.2% |
| Cash at bank and in hand | 54/58 | €28,627 | €97,001 | +€68,374 | +238.8% |
| Deferred charges and accrued income | 490/1 | €5,605 | €5,813 | +€208 | +3.7% |
| Total equity and liabilities | 10/49 | €568,403 | €615,535 | +€47,132 | +8.3% |
| Equity | 10/15 | €294,856 | €325,563 | +€30,707 | +10.4% |
| Contributions | 10/11 | €9,481 | €9,481 | = | 0.0% |
| Reserves | 13 | €285,375 | €316,082 | +€30,707 | +10.8% |
| Distributable reserves | 133 | €285,375 | €316,082 | +€30,707 | +10.8% |
| Amounts payable | 17/49 | €273,547 | €289,972 | +€16,425 | +6.0% |
| Amounts payable after more than one year | 17 | €5,672 | €0 | -€5,672 | -100.0% |
| Financial debts | 170/4 | €5,672 | €0 | -€5,672 | -100.0% |
| Amounts payable within one year | 42/48 | €251,661 | €285,742 | +€34,081 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €5,428 | €5,672 | +€244 | +4.5% |
| Financial debts | 43 | €852 | €30,854 | +€30,002 | +3522.2% |
| Credit institutions | 430/8 | €852 | €854 | +€2 | +0.2% |
| Other loans | 439 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €115,385 | €148,998 | +€33,613 | +29.1% |
| Suppliers | 440/4 | €115,385 | €148,998 | +€33,613 | +29.1% |
| Advances received on contracts in progress | 46 | €12,470 | €15,955 | +€3,485 | +27.9% |
| Taxes, remuneration and social security | 45 | €27,704 | €24,828 | -€2,876 | -10.4% |
| Taxes | 450/3 | €15,770 | €10,786 | -€4,985 | -31.6% |
| Remuneration and social security | 454/9 | €11,934 | €14,042 | +€2,109 | +17.7% |
| Other amounts payable | 47/48 | €89,822 | €59,435 | -€30,386 | -33.8% |
| Accrued charges and deferred income | 492/3 | €16,214 | €4,230 | -€11,984 | -73.9% |
| Non-recurring operating income | 76A | €5,900 | - | -€5,900 | |
| Remuneration, social security and pensions | 62 | €86,627 | €88,450 | +€1,823 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,273 | €23,423 | +€149 | +0.6% |
| Other operating charges | 640/8 | €2,964 | €3,056 | +€92 | +3.1% |
| Gross operating margin | 9900 | €155,115 | €156,328 | +€1,213 | +0.8% |
| Operating profit (loss) | 9901 | €42,251 | €41,399 | -€851 | -2.0% |
| Financial income | 75/76B | €14,960 | €11,361 | -€3,599 | -24.1% |
| Recurring financial income | 75 | €14,960 | €11,361 | -€3,599 | -24.1% |
| Financial charges | 65/66B | €4,123 | €7,166 | +€3,044 | +73.8% |
| Recurring financial charges | 65 | €4,123 | €7,166 | +€3,044 | +73.8% |
| Profit (loss) for the period before taxes | 9903 | €53,087 | €45,594 | -€7,493 | -14.1% |
| Income taxes | 67/77 | €18,684 | €14,887 | -€3,797 | -20.3% |
| Profit (loss) for the period | 9904 | €34,403 | €30,707 | -€3,696 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,403 | €30,707 | -€3,696 | -10.7% |
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 30 September 2026 via checked.be.