VERHYBEL: 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.
VERHYBEL
Largest movements
- Cash -€30,370
down €30,370 (-17.6%), from €172,389 to €142,018
mainly Contributions, distributions and other (-€103,937) and Debts after one year (-€8,860)
- Tangible fixed assets -€15,955
down €15,955 (-23.5%), from €67,984 to €52,029
of which Furniture and vehicles: -€15,680
- Receivables within one year +€3,125
up €3,125 (+9.6%), from €32,438 to €35,563
of which Trade receivables: +€6,709
- Reserves -€27,790
down €27,790 (-12.4%), from €225,008 to €197,218
- Debts after one year -€8,860
down €8,860 (-28.6%), from €31,032 to €22,172
- Trade debts -€3,372
down €3,372 (-71.1%), from €4,745 to €1,374
- Gross operating margin +€41,887
up €41,887 (+29.5%), from €142,083 to €183,970
- Taxes +€9,881
up €9,881 (+46.6%), from €21,206 to €31,087
- Depreciation +€5,150
up €5,150 (+43.8%), from €11,750 to €16,899
- Staff costs +€4,245
up €4,245 (+8.1%), from €52,127 to €56,372
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 | €281,248 | €238,822 | -€42,426 | -15.1% |
| Fixed assets | 21/28 | €67,984 | €52,029 | -€15,955 | -23.5% |
| Tangible fixed assets | 22/27 | €67,984 | €52,029 | -€15,955 | -23.5% |
| Plant, machinery and equipment | 23 | €467 | €191 | -€276 | -59.1% |
| Furniture and vehicles | 24 | €67,517 | €51,838 | -€15,680 | -23.2% |
| Current assets | 29/58 | €213,264 | €186,793 | -€26,470 | -12.4% |
| Amounts receivable within one year | 40/41 | €32,438 | €35,563 | +€3,125 | +9.6% |
| Trade receivables | 40 | €27,254 | €33,963 | +€6,709 | +24.6% |
| Other amounts receivable | 41 | €5,184 | €1,600 | -€3,584 | -69.1% |
| Cash at bank and in hand | 54/58 | €172,389 | €142,018 | -€30,370 | -17.6% |
| Deferred charges and accrued income | 490/1 | €8,437 | €9,212 | +€775 | +9.2% |
| Total equity and liabilities | 10/49 | €281,248 | €238,822 | -€42,426 | -15.1% |
| Equity | 10/15 | €225,008 | €197,218 | -€27,790 | -12.4% |
| Reserves | 13 | €225,008 | €197,218 | -€27,790 | -12.4% |
| Distributable reserves | 133 | €225,008 | €197,218 | -€27,790 | -12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,239 | €41,604 | -€14,636 | -26.0% |
| Amounts payable after more than one year | 17 | €31,032 | €22,172 | -€8,860 | -28.6% |
| Financial debts | 170/4 | €31,032 | €22,172 | -€8,860 | -28.6% |
| Amounts payable within one year | 42/48 | €25,148 | €19,432 | -€5,716 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €8,497 | €8,860 | +€363 | +4.3% |
| Trade debts | 44 | €4,745 | €1,374 | -€3,372 | -71.1% |
| Suppliers | 440/4 | €4,745 | €1,374 | -€3,372 | -71.1% |
| Taxes, remuneration and social security | 45 | €11,905 | €9,198 | -€2,707 | -22.7% |
| Taxes | 450/3 | €5,390 | €2,587 | -€2,803 | -52.0% |
| Remuneration and social security | 454/9 | €6,516 | €6,611 | +€96 | +1.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €59 | €0 | -€59 | -100% |
| Non-recurring operating income | 76A | €8,250 | €15,000 | +€6,750 | +81.8% |
| Remuneration, social security and pensions | 62 | €52,127 | €56,372 | +€4,245 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,750 | €16,899 | +€5,150 | +43.8% |
| Other operating charges | 640/8 | €1,293 | €1,436 | +€143 | +11.1% |
| Gross operating margin | 9900 | €142,083 | €183,970 | +€41,887 | +29.5% |
| Operating profit (loss) | 9901 | €76,913 | €109,263 | +€32,349 | +42.1% |
| Financial income | 75/76B | €20 | €12 | -€9 | -42.0% |
| Recurring financial income | 75 | €20 | €12 | -€9 | -42.0% |
| Financial charges | 65/66B | €1,829 | €2,040 | +€211 | +11.6% |
| Recurring financial charges | 65 | €1,829 | €2,040 | +€211 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €75,104 | €107,234 | +€32,130 | +42.8% |
| Income taxes | 67/77 | €21,206 | €31,087 | +€9,881 | +46.6% |
| Profit (loss) for the period | 9904 | €53,898 | €76,147 | +€22,249 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,898 | €76,147 | +€22,249 | +41.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.