BENOIT VANHOUTTE: 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.
What changed
BENOIT VANHOUTTE
NACE 32.500, Manufacture of medical and dental instruments and supplies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€44,602
2024 · €41,309+€3,292
Equity
€460,804
2024 · €484,543-€23,738
Cash
€50,410
2024 · €80,985-€30,575
Balance sheet total
€507,013
2024 · €546,391-€39,379
Largest movements
Assets
- Cash -€30,575
down €30,575 (-37.8%), from €80,985 to €50,410
mainly Contributions, distributions and other (-€68,340) and Debts after one year (-€11,904)
- Receivables within one year -€5,490
down €5,490 (-18.1%), from €30,330 to €24,840
of which Other amounts receivable: -€7,749
Equity and liabilities
- Reserves -€24,136
down €24,136 (-5.1%), from €471,784 to €447,648
of which Distributable reserves: -€23,340
- Debts after one year -€11,904
down €11,904 (-100.0%), from €11,904 to €0
- Current portion of long-term debt -€8,355
down €8,355 (-41.2%), from €20,259 to €11,904
Income statement
- Gross operating margin +€2,909
up €2,909 (+3.7%), from €78,502 to €81,411
- Depreciation -€1,647
down €1,647 (-13.5%), from €12,183 to €10,535
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.
Result 2024
€41,309
Gross operating margin
+€2,909
Depreciation
+€1,647
Other operating charges
-€17
Financial income
+€1
Financial charges
-€493
Taxes
-€719
Deferred taxes and other
-€35
Result 2025
€44,602
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.
From operations
+€64,670
Investment
-€6,609
Financing
-€88,636
Cash 2024
€80,985
From operations (derived)
+€64,670
Net result for the year
+€44,602
Depreciation
+€10,535
Receivables within one year
+€5,490
Deferred charges and accrued income
-€613
Provisions
-€265
Trade debts
-€1,106
Tax, wage and social debts
+€693
Other debts
+€4,660
Accrued charges and deferred income
+€674
Investment (derived)
-€6,609
Investment in fixed assets (net)
-€6,609
Financing
-€88,636
Debts after one year
-€11,904
Current portion of long-term debt
-€8,355
Short-term financial debts
-€37
Contributions, distributions and other
-€68,340
Cash 2025
€50,410
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €546,391 | €507,013 | -€39,379 | -7.2% |
| Fixed assets | 21/28 | €434,379 | €430,453 | -€3,926 | -0.9% |
| Tangible fixed assets | 22/27 | €32,291 | €28,365 | -€3,926 | -12.2% |
| Plant, machinery and equipment | 23 | €13,292 | €10,775 | -€2,517 | -18.9% |
| Furniture and vehicles | 24 | €15,365 | €8,713 | -€6,652 | -43.3% |
| Other tangible fixed assets | 26 | €3,633 | €8,877 | +€5,243 | +144.3% |
| Financial fixed assets | 28 | €402,088 | €402,088 | = | 0.0% |
| Current assets | 29/58 | €112,012 | €76,560 | -€35,453 | -31.7% |
| Amounts receivable within one year | 40/41 | €30,330 | €24,840 | -€5,490 | -18.1% |
| Trade receivables | 40 | €19,074 | €21,334 | +€2,260 | +11.8% |
| Other amounts receivable | 41 | €11,256 | €3,506 | -€7,749 | -68.8% |
| Cash at bank and in hand | 54/58 | €80,985 | €50,410 | -€30,575 | -37.8% |
| Deferred charges and accrued income | 490/1 | €697 | €1,310 | +€613 | +87.9% |
| Total equity and liabilities | 10/49 | €546,391 | €507,013 | -€39,379 | -7.2% |
| Equity | 10/15 | €484,543 | €460,804 | -€23,738 | -4.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €471,784 | €447,648 | -€24,136 | -5.1% |
| Tax-exempt reserves | 132 | €2,389 | €1,593 | -€796 | -33.3% |
| Distributable reserves | 133 | €469,395 | €446,055 | -€23,340 | -5.0% |
| Profit (loss) carried forward | 14 | €359 | €756 | +€398 | +110.8% |
| Provisions and deferred taxes | 16 | €796 | €531 | -€265 | -33.3% |
| Provisions for liabilities and charges | 160/5 | €796 | - | -€796 | |
| Taxes | 161 | €796 | - | -€796 | |
| Deferred taxes | 168 | - | €531 | +€531 | |
| Amounts payable | 17/49 | €61,053 | €45,678 | -€15,375 | -25.2% |
| Amounts payable after more than one year | 17 | €11,904 | €0 | -€11,904 | -100.0% |
| Financial debts | 170/4 | €11,904 | €0 | -€11,904 | -100.0% |
| Amounts payable within one year | 42/48 | €48,237 | €44,092 | -€4,145 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €20,259 | €11,904 | -€8,355 | -41.2% |
| Financial debts | 43 | €7,667 | €7,630 | -€37 | -0.5% |
| Credit institutions | 430/8 | €7,667 | €7,630 | -€37 | -0.5% |
| Trade debts | 44 | €2,771 | €1,665 | -€1,106 | -39.9% |
| Suppliers | 440/4 | €2,771 | €1,665 | -€1,106 | -39.9% |
| Taxes, remuneration and social security | 45 | €13,353 | €14,046 | +€693 | +5.2% |
| Taxes | 450/3 | €11,753 | €12,446 | +€693 | +5.9% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €4,188 | €8,847 | +€4,660 | +111.3% |
| Accrued charges and deferred income | 492/3 | €912 | €1,586 | +€674 | +73.9% |
| Non-recurring operating income | 76A | €19 | €2 | -€17 | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,183 | €10,535 | -€1,647 | -13.5% |
| Other operating charges | 640/8 | €615 | €632 | +€17 | +2.8% |
| Gross operating margin | 9900 | €78,502 | €81,411 | +€2,909 | +3.7% |
| Operating profit (loss) | 9901 | €65,704 | €70,243 | +€4,539 | +6.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,921 | €2,414 | +€493 | +25.7% |
| Recurring financial charges | 65 | €1,921 | €2,414 | +€493 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €63,784 | €67,830 | +€4,046 | +6.3% |
| Transfer from deferred taxes | 780 | €300 | €265 | -€35 | -11.6% |
| Income taxes | 67/77 | €22,775 | €23,494 | +€719 | +3.2% |
| Profit (loss) for the period | 9904 | €41,309 | €44,602 | +€3,292 | +8.0% |
| Transfer from tax-exempt reserves | 789 | €901 | €796 | -€105 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,210 | €45,398 | +€3,187 | +7.6% |
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 7 October 2026 via checked.be.