Verhto: what changed
Verhto
Largest movements
- Tangible fixed assets +€222,020
up €222,020 (+343%), from €64,766 to €286,786
of which Land and buildings: +€247,500
- Receivables within one year -€124,804
down €124,804 (-37.0%), from €336,963 to €212,159
of which Other amounts receivable: -€205,339
- Cash +€80,791
up €80,791 (+28.5%), from €283,532 to €364,323
mainly Other debts (+€248,529) and Net result for the year (+€238,617)
- Reserves -€290,282
down €290,282 (-64.0%), from €453,862 to €163,580
- Other debts +€248,529
up €248,529 (+166%), from €150,000 to €398,529
- Debts after one year +€178,447
up €178,447 (+520%), from €34,334 to €212,781
- Tax, wage and social debts +€33,203
up €33,203 (+202%), from €16,438 to €49,641
- Gross operating margin +€100,584
up €100,584 (+41.1%), from €244,793 to €345,377
- Taxes +€19,820
up €19,820 (+36.3%), from €54,556 to €74,376
- Financial income -€8,727
down €8,727 (-73.0%), from €11,956 to €3,230
- Financial charges +€6,670
up €6,670 (+666%), from €1,001 to €7,670
- Depreciation +€5,933
up €5,933 (+28.8%), from €20,620 to €26,553
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €685,261 | €863,268 | +€178,007 | +26.0% |
| Fixed assets | 21/28 | €64,766 | €286,786 | +€222,020 | +343% |
| Tangible fixed assets | 22/27 | €64,766 | €286,786 | +€222,020 | +343% |
| Land and buildings | 22 | - | €247,500 | +€247,500 | |
| Furniture and vehicles | 24 | €64,766 | €39,286 | -€25,480 | -39.3% |
| Current assets | 29/58 | €620,495 | €576,482 | -€44,013 | -7.1% |
| Amounts receivable within one year | 40/41 | €336,963 | €212,159 | -€124,804 | -37.0% |
| Trade receivables | 40 | - | €80,535 | +€80,535 | |
| Other amounts receivable | 41 | €336,963 | €131,624 | -€205,339 | -60.9% |
| Cash at bank and in hand | 54/58 | €283,532 | €364,323 | +€80,791 | +28.5% |
| Total equity and liabilities | 10/49 | €685,261 | €863,268 | +€178,007 | +26.0% |
| Equity | 10/15 | €458,862 | €168,580 | -€290,282 | -63.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €453,862 | €163,580 | -€290,282 | -64.0% |
| Distributable reserves | 133 | €453,862 | €163,580 | -€290,282 | -64.0% |
| Amounts payable | 17/49 | €226,399 | €694,688 | +€468,289 | +207% |
| Amounts payable after more than one year | 17 | €34,334 | €212,781 | +€178,447 | +520% |
| Financial debts | 170/4 | €34,334 | €212,781 | +€178,447 | +520% |
| Amounts payable within one year | 42/48 | €192,065 | €481,907 | +€289,843 | +151% |
| Current portion of amounts payable after more than one year | 42 | €22,576 | €30,705 | +€8,129 | +36.0% |
| Trade debts | 44 | €3,051 | €3,033 | -€18 | -0.6% |
| Suppliers | 440/4 | €3,051 | €3,033 | -€18 | -0.6% |
| Taxes, remuneration and social security | 45 | €16,438 | €49,641 | +€33,203 | +202% |
| Taxes | 450/3 | €16,438 | €49,641 | +€33,203 | +202% |
| Other amounts payable | 47/48 | €150,000 | €398,529 | +€248,529 | +166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,620 | €26,553 | +€5,933 | +28.8% |
| Other operating charges | 640/8 | €1,123 | €1,390 | +€268 | +23.8% |
| Gross operating margin | 9900 | €244,793 | €345,377 | +€100,584 | +41.1% |
| Operating profit (loss) | 9901 | €223,050 | €317,433 | +€94,383 | +42.3% |
| Financial income | 75/76B | €11,956 | €3,230 | -€8,727 | -73.0% |
| Recurring financial income | 75 | €11,956 | €3,230 | -€8,727 | -73.0% |
| Financial charges | 65/66B | €1,001 | €7,670 | +€6,670 | +666% |
| Recurring financial charges | 65 | €1,001 | €7,670 | +€6,670 | +666% |
| Profit (loss) for the period before taxes | 9903 | €234,006 | €312,993 | +€78,987 | +33.8% |
| Income taxes | 67/77 | €54,556 | €74,376 | +€19,820 | +36.3% |
| Profit (loss) for the period | 9904 | €179,450 | €238,617 | +€59,167 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,450 | €238,617 | +€59,167 | +33.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.