YVES VERHEYDEN: what changed
YVES VERHEYDEN
Largest movements
- Tangible fixed assets +€25,226
up €25,226 (+621%), from €4,061 to €29,287
of which Furniture and vehicles: +€25,568
- Receivables within one year -€7,079
down €7,079 (-50.4%), from €14,053 to €6,974
of which Trade receivables: -€7,261
- Cash +€2,123
up €2,123 (+38.2%), from €5,560 to €7,683
mainly Debts after one year (+€12,166) and Current portion of long-term debt (+€10,793)
- Other debts -€12,234
down €12,234 (-42.6%), from €28,722 to €16,488
- Debts after one year +€12,166
new in 2025: €12,166
- Current portion of long-term debt +€10,793
new in 2025: €10,793
- Reserves +€9,002
up €9,002 (+23.4%), from €38,507 to €47,509
- Gross operating margin +€6,106
up €6,106 (+42.1%), from €14,517 to €20,623
- Depreciation +€6,022
up €6,022 (+481%), from €1,252 to €7,274
- Financial charges +€1,202
up €1,202 (+1,961%), from €61 to €1,263
- Taxes -€320
down €320 (-7.5%), from €4,288 to €3,969
- Other operating charges +€245
up €245 (+35.8%), from €686 to €931
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,920 | €101,172 | +€20,252 | +25.0% |
| Fixed assets | 21/28 | €4,151 | €29,377 | +€25,226 | +608% |
| Tangible fixed assets | 22/27 | €4,061 | €29,287 | +€25,226 | +621% |
| Plant, machinery and equipment | 23 | €756 | €413 | -€342 | -45.3% |
| Furniture and vehicles | 24 | €3,306 | €28,874 | +€25,568 | +773% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €76,768 | €71,795 | -€4,974 | -6.5% |
| Amounts receivable after more than one year | 29 | €56,896 | €56,896 | = | 0.0% |
| Other amounts receivable | 291 | €56,896 | €56,896 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,053 | €6,974 | -€7,079 | -50.4% |
| Trade receivables | 40 | €7,261 | €0 | -€7,261 | -100% |
| Other amounts receivable | 41 | €6,792 | €6,974 | +€182 | +2.7% |
| Cash at bank and in hand | 54/58 | €5,560 | €7,683 | +€2,123 | +38.2% |
| Deferred charges and accrued income | 490/1 | €259 | €242 | -€18 | -6.8% |
| Total equity and liabilities | 10/49 | €80,920 | €101,172 | +€20,252 | +25.0% |
| Equity | 10/15 | €44,707 | €53,709 | +€9,002 | +20.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,507 | €47,509 | +€9,002 | +23.4% |
| Distributable reserves | 133 | €38,507 | €47,509 | +€9,002 | +23.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,212 | €47,463 | +€11,251 | +31.1% |
| Amounts payable after more than one year | 17 | - | €12,166 | +€12,166 | |
| Financial debts | 170/4 | - | €12,166 | +€12,166 | |
| Amounts payable within one year | 42/48 | €36,212 | €35,297 | -€915 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,793 | +€10,793 | |
| Trade debts | 44 | €1,059 | €1,779 | +€720 | +68.0% |
| Suppliers | 440/4 | €1,059 | €1,779 | +€720 | +68.0% |
| Taxes, remuneration and social security | 45 | €6,432 | €6,237 | -€195 | -3.0% |
| Taxes | 450/3 | €6,432 | €6,237 | -€195 | -3.0% |
| Other amounts payable | 47/48 | €28,722 | €16,488 | -€12,234 | -42.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,252 | €7,274 | +€6,022 | +481% |
| Other operating charges | 640/8 | €686 | €931 | +€245 | +35.8% |
| Gross operating margin | 9900 | €14,517 | €20,623 | +€6,106 | +42.1% |
| Operating profit (loss) | 9901 | €12,579 | €12,418 | -€162 | -1.3% |
| Financial income | 75/76B | €1,805 | €1,816 | +€11 | +0.6% |
| Recurring financial income | 75 | €1,805 | €1,816 | +€11 | +0.6% |
| Financial charges | 65/66B | €61 | €1,263 | +€1,202 | +1,961% |
| Recurring financial charges | 65 | €61 | €1,263 | +€1,202 | +1,961% |
| Profit (loss) for the period before taxes | 9903 | €14,323 | €12,970 | -€1,353 | -9.4% |
| Income taxes | 67/77 | €4,288 | €3,969 | -€320 | -7.5% |
| Profit (loss) for the period | 9904 | €10,034 | €9,002 | -€1,033 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,034 | €9,002 | -€1,033 | -10.3% |
Next steps
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 2 November 2026 via checked.be.