VERHOYE - DULT: what changed
What changed
VERHOYE - DULT
NACE 43.221, Plumbing work
filed annual accounts (NBB)
Net result for the year
€123,287
2024 · €212,122-€88,835
Equity
€796,715
2024 · €743,427+€53,287
Cash
€298,273
2024 · €390,983-€92,710
Balance sheet total
€1.1m
2024 · €1.2m-€197,584
Largest movements
Assets
- Cash -€92,710
down €92,710 (-23.7%), from €390,983 to €298,273
mainly Debts after one year (-€216,207) and Contributions, distributions and other (-€70,000)
- Receivables within one year -€74,427
down €74,427 (-28.5%), from €261,352 to €186,924
of which Trade receivables: -€85,860
- Tangible fixed assets -€36,356
down €36,356 (-7.9%), from €457,934 to €421,578
of which Leasing and similar rights: -€40,161
Equity and liabilities
- Debts after one year -€216,207
down €216,207 (-84.6%), from €255,684 to €39,477
of which Other amounts payable: -€161,111
- Other debts +€70,382
up €70,382 (+184%), from €38,211 to €108,594
- Trade debts -€63,681
down €63,681 (-55.9%), from €113,937 to €50,257
- Reserves +€53,287
up €53,287 (+7.6%), from €702,525 to €755,812
- Current portion of long-term debt -€35,529
down €35,529 (-39.2%), from €90,625 to €55,096
Income statement
- Gross operating margin -€133,127
down €133,127 (-36.2%), from €368,133 to €235,006
- Taxes -€53,311
down €53,311 (-74.0%), from €72,066 to €18,755
- Depreciation +€10,133
up €10,133 (+15.8%), from €64,107 to €74,240
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€212,122
Gross operating margin
-€133,127
Staff costs
+€1,249
Depreciation
-€10,133
Other operating charges
-€840
Financial income
+€159
Financial charges
+€546
Taxes
+€53,311
Result 2025
€123,287
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€265,938
Investment
-€36,913
Financing
-€321,736
Cash 2024
€390,983
From operations (derived)
+€265,938
Net result for the year
+€123,287
Depreciation
+€74,240
Receivables after one year
-€1,742
Stocks and contracts
-€4,557
Receivables within one year
+€74,427
Deferred charges and accrued income
-€583
Trade debts
-€63,681
Tax, wage and social debts
+€163
Other debts
+€70,382
Accrued charges and deferred income
-€6,000
Investment (derived)
-€36,913
Investment in fixed assets (net)
-€36,913
Financing
-€321,736
Debts after one year
-€216,207
Current portion of long-term debt
-€35,529
Contributions, distributions and other
-€70,000
Cash 2025
€298,273
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,247,885 | €1,050,301 | -€197,584 | -15.8% |
| Fixed assets | 21/28 | €474,631 | €437,304 | -€37,327 | -7.9% |
| Tangible fixed assets | 22/27 | €457,934 | €421,578 | -€36,356 | -7.9% |
| Land and buildings | 22 | €1,242 | €22,910 | +€21,668 | +1,745% |
| Plant, machinery and equipment | 23 | €16,435 | €20,316 | +€3,881 | +23.6% |
| Furniture and vehicles | 24 | €99,474 | €77,730 | -€21,744 | -21.9% |
| Leasing and similar rights | 25 | €340,784 | €300,623 | -€40,161 | -11.8% |
| Financial fixed assets | 28 | €16,697 | €15,726 | -€971 | -5.8% |
| Current assets | 29/58 | €773,254 | €612,997 | -€160,257 | -20.7% |
| Amounts receivable after more than one year | 29 | €671 | €2,413 | +€1,742 | +259% |
| Other amounts receivable | 291 | €671 | €2,413 | +€1,742 | +259% |
| Stocks and contracts in progress | 3 | €106,710 | €111,267 | +€4,557 | +4.3% |
| Stocks | 30/36 | €106,710 | €111,267 | +€4,557 | +4.3% |
| Amounts receivable within one year | 40/41 | €261,352 | €186,924 | -€74,427 | -28.5% |
| Trade receivables | 40 | €203,061 | €117,201 | -€85,860 | -42.3% |
| Other amounts receivable | 41 | €58,290 | €69,723 | +€11,433 | +19.6% |
| Cash at bank and in hand | 54/58 | €390,983 | €298,273 | -€92,710 | -23.7% |
| Deferred charges and accrued income | 490/1 | €13,538 | €14,120 | +€583 | +4.3% |
| Total equity and liabilities | 10/49 | €1,247,885 | €1,050,301 | -€197,584 | -15.8% |
| Equity | 10/15 | €743,427 | €796,715 | +€53,287 | +7.2% |
| Contributions | 10/11 | €40,902 | €40,902 | = | 0.0% |
| Reserves | 13 | €702,525 | €755,812 | +€53,287 | +7.6% |
| Distributable reserves | 133 | €702,525 | €755,812 | +€53,287 | +7.6% |
| Amounts payable | 17/49 | €504,458 | €253,586 | -€250,871 | -49.7% |
| Amounts payable after more than one year | 17 | €255,684 | €39,477 | -€216,207 | -84.6% |
| Financial debts | 170/4 | €94,573 | €39,477 | -€55,096 | -58.3% |
| Other amounts payable | 178/9 | €161,111 | - | -€161,111 | |
| Amounts payable within one year | 42/48 | €242,774 | €214,110 | -€28,664 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €90,625 | €55,096 | -€35,529 | -39.2% |
| Trade debts | 44 | €113,937 | €50,257 | -€63,681 | -55.9% |
| Suppliers | 440/4 | €113,937 | €50,257 | -€63,681 | -55.9% |
| Taxes, remuneration and social security | 45 | - | €163 | +€163 | |
| Remuneration and social security | 454/9 | - | €163 | +€163 | |
| Other amounts payable | 47/48 | €38,211 | €108,594 | +€70,382 | +184% |
| Accrued charges and deferred income | 492/3 | €6,000 | - | -€6,000 | |
| Non-recurring operating income | 76A | €452 | - | -€452 | |
| Remuneration, social security and pensions | 62 | €11,380 | €10,131 | -€1,249 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,107 | €74,240 | +€10,133 | +15.8% |
| Other operating charges | 640/8 | €3,375 | €4,215 | +€840 | +24.9% |
| Gross operating margin | 9900 | €368,133 | €235,006 | -€133,127 | -36.2% |
| Operating profit (loss) | 9901 | €289,273 | €146,421 | -€142,851 | -49.4% |
| Financial income | 75/76B | €6,917 | €7,076 | +€159 | +2.3% |
| Recurring financial income | 75 | €6,917 | €7,076 | +€159 | +2.3% |
| Financial charges | 65/66B | €12,001 | €11,455 | -€546 | -4.6% |
| Recurring financial charges | 65 | €12,001 | €11,455 | -€546 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €284,188 | €142,042 | -€142,146 | -50.0% |
| Income taxes | 67/77 | €72,066 | €18,755 | -€53,311 | -74.0% |
| Profit (loss) for the period | 9904 | €212,122 | €123,287 | -€88,835 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €212,122 | €123,287 | -€88,835 | -41.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.