VERHURING DEFLOO: 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.
VERHURING DEFLOO
Largest movements
- Tangible fixed assets -€200,810
down €200,810 (-9.5%), from €2.1m to €1.9m
- Receivables within one year +€150,430
up €150,430 (+51.0%), from €295,188 to €445,618
of which Trade receivables: +€132,944
- Intangible fixed assets -€34,130
down €34,130 (-9.4%), from €362,143 to €328,013
- Cash +€32,365
up €32,365 (+41.6%), from €77,797 to €110,162
mainly Depreciation (+€522,642) and Tax, wage and social debts (+€87,529)
- Debts after one year -€180,735
down €180,735 (-11.5%), from €1.6m to €1.4m
- Tax, wage and social debts +€87,529
up €87,529 (+101.9%), from €85,859 to €173,388
of which Remuneration and social security: +€75,128
- Other debts -€59,929
down €59,929 (-68.9%), from €86,929 to €27,000
- Current portion of long-term debt +€47,249
up €47,249 (+11.9%), from €395,515 to €442,764
- Reserves +€39,154
up €39,154 (+5.7%), from €692,911 to €732,065
of which Distributable reserves: +€39,154
- Gross operating margin +€477,952
up €477,952 (+44.8%), from €1.1m to €1.5m
- Staff costs +€314,467
up €314,467 (+55.9%), from €562,766 to €877,232
- Depreciation +€78,438
up €78,438 (+17.7%), from €444,205 to €522,642
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 | €2,920,210 | €2,883,086 | -€37,124 | -1.3% |
| Fixed assets | 21/28 | €2,483,607 | €2,243,851 | -€239,755 | -9.7% |
| Intangible fixed assets | 21 | €362,143 | €328,013 | -€34,130 | -9.4% |
| Tangible fixed assets | 22/27 | €2,108,023 | €1,907,213 | -€200,810 | -9.5% |
| Land and buildings | 22 | €851,138 | €801,999 | -€49,140 | -5.8% |
| Plant, machinery and equipment | 23 | €679,427 | €603,776 | -€75,651 | -11.1% |
| Furniture and vehicles | 24 | €345,726 | €306,395 | -€39,331 | -11.4% |
| Leasing and similar rights | 25 | €231,732 | €195,044 | -€36,688 | -15.8% |
| Financial fixed assets | 28 | €13,440 | €8,625 | -€4,815 | -35.8% |
| Current assets | 29/58 | €436,604 | €639,235 | +€202,632 | +46.4% |
| Amounts receivable within one year | 40/41 | €295,188 | €445,618 | +€150,430 | +51.0% |
| Trade receivables | 40 | €283,152 | €416,095 | +€132,944 | +47.0% |
| Other amounts receivable | 41 | €12,036 | €29,522 | +€17,486 | +145.3% |
| Cash at bank and in hand | 54/58 | €77,797 | €110,162 | +€32,365 | +41.6% |
| Deferred charges and accrued income | 490/1 | €63,619 | €83,456 | +€19,837 | +31.2% |
| Total equity and liabilities | 10/49 | €2,920,210 | €2,883,086 | -€37,124 | -1.3% |
| Equity | 10/15 | €711,511 | €750,665 | +€39,154 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €692,911 | €732,065 | +€39,154 | +5.7% |
| Tax-exempt reserves | 132 | €19,421 | €19,421 | = | 0.0% |
| Distributable reserves | 133 | €673,490 | €712,644 | +€39,154 | +5.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,208,699 | €2,132,421 | -€76,278 | -3.5% |
| Amounts payable after more than one year | 17 | €1,566,754 | €1,386,019 | -€180,735 | -11.5% |
| Financial debts | 170/4 | €1,566,754 | €1,386,019 | -€180,735 | -11.5% |
| Amounts payable within one year | 42/48 | €634,590 | €737,489 | +€102,899 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €395,515 | €442,764 | +€47,249 | +11.9% |
| Financial debts | 43 | €5,966 | €0 | -€5,966 | -100.0% |
| Credit institutions | 430/8 | €5,966 | €0 | -€5,966 | -100.0% |
| Trade debts | 44 | €60,321 | €94,337 | +€34,016 | +56.4% |
| Suppliers | 440/4 | €60,321 | €94,337 | +€34,016 | +56.4% |
| Taxes, remuneration and social security | 45 | €85,859 | €173,388 | +€87,529 | +101.9% |
| Taxes | 450/3 | €38,236 | €50,637 | +€12,401 | +32.4% |
| Remuneration and social security | 454/9 | €47,623 | €122,751 | +€75,128 | +157.8% |
| Other amounts payable | 47/48 | €86,929 | €27,000 | -€59,929 | -68.9% |
| Accrued charges and deferred income | 492/3 | €7,355 | €8,913 | +€1,558 | +21.2% |
| Remuneration, social security and pensions | 62 | €562,766 | €877,232 | +€314,467 | +55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €444,205 | €522,642 | +€78,438 | +17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,376 | €220 | -€3,156 | -93.5% |
| Other operating charges | 640/8 | €22,970 | €19,099 | -€3,871 | -16.9% |
| Gross operating margin | 9900 | €1,066,930 | €1,544,882 | +€477,952 | +44.8% |
| Operating profit (loss) | 9901 | €33,614 | €125,688 | +€92,074 | +273.9% |
| Financial income | 75/76B | €292 | €569 | +€277 | +94.9% |
| Recurring financial income | 75 | €292 | €569 | +€277 | +94.9% |
| Financial charges | 65/66B | €41,583 | €47,365 | +€5,782 | +13.9% |
| Recurring financial charges | 65 | €41,583 | €47,365 | +€5,782 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,677 | €78,891 | +€86,569 | |
| Income taxes | 67/77 | €0 | €12,737 | +€12,737 | |
| Profit (loss) for the period | 9904 | -€7,677 | €66,154 | +€73,831 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,677 | €66,154 | +€73,831 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.