BERT VANHOOF: 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.
BERT VANHOOF
Largest movements
- Tangible fixed assets +€7,525
up €7,525 (+49.2%), from €15,300 to €22,825
of which Land and buildings: +€3,852
- Cash -€4,144
down €4,144 (-8.9%), from €46,595 to €42,452
mainly Investment in fixed assets (net) (-€10,599) and Receivables within one year (-€3,899)
- Receivables within one year +€3,899
up €3,899 (+23.1%), from €16,862 to €20,760
of which Other amounts receivable: +€3,610
- Stocks and contracts +€3,529
up €3,529 (+3.1%), from €114,553 to €118,082
- Reserves +€7,179
up €7,179 (+7.4%), from €97,667 to €104,846
- Other debts +€2,595
up €2,595 (+4.4%), from €58,684 to €61,279
- Gross operating margin +€2,571
up €2,571 (+15.9%), from €16,161 to €18,733
- Taxes +€1,045
up €1,045 (+50.6%), from €2,064 to €3,108
- Depreciation +€959
up €959 (+45.4%), from €2,115 to €3,074
- Financial charges +€792
up €792 (+23.8%), from €3,332 to €4,124
- Financial income +€488
up €488 (+66.3%), from €737 to €1,225
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 | €194,726 | €204,119 | +€9,393 | +4.8% |
| Fixed assets | 21/28 | €15,300 | €22,825 | +€7,525 | +49.2% |
| Tangible fixed assets | 22/27 | €15,300 | €22,825 | +€7,525 | +49.2% |
| Land and buildings | 22 | €11,658 | €15,509 | +€3,852 | +33.0% |
| Plant, machinery and equipment | 23 | €3,642 | €4,255 | +€613 | +16.8% |
| Furniture and vehicles | 24 | - | €3,060 | +€3,060 | |
| Current assets | 29/58 | €179,426 | €181,294 | +€1,868 | +1.0% |
| Stocks and contracts in progress | 3 | €114,553 | €118,082 | +€3,529 | +3.1% |
| Stocks | 30/36 | €114,553 | €118,082 | +€3,529 | +3.1% |
| Amounts receivable within one year | 40/41 | €16,862 | €20,760 | +€3,899 | +23.1% |
| Trade receivables | 40 | €9,254 | €9,542 | +€288 | +3.1% |
| Other amounts receivable | 41 | €7,608 | €11,218 | +€3,610 | +47.5% |
| Cash at bank and in hand | 54/58 | €46,595 | €42,452 | -€4,144 | -8.9% |
| Deferred charges and accrued income | 490/1 | €1,416 | - | -€1,416 | |
| Total equity and liabilities | 10/49 | €194,726 | €204,119 | +€9,393 | +4.8% |
| Equity | 10/15 | €119,667 | €126,846 | +€7,179 | +6.0% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Contributions outside capital | 11 | €22,000 | €22,000 | = | 0.0% |
| Share premium | 1100/10 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €97,667 | €104,846 | +€7,179 | +7.4% |
| Distributable reserves | 133 | €97,667 | €104,846 | +€7,179 | +7.4% |
| Amounts payable | 17/49 | €75,059 | €77,273 | +€2,214 | +2.9% |
| Amounts payable within one year | 42/48 | €75,059 | €77,273 | +€2,214 | +2.9% |
| Trade debts | 44 | €11,134 | €10,571 | -€563 | -5.1% |
| Suppliers | 440/4 | €11,134 | €10,571 | -€563 | -5.1% |
| Taxes, remuneration and social security | 45 | €5,241 | €5,423 | +€182 | +3.5% |
| Taxes | 450/3 | €5,241 | €5,423 | +€182 | +3.5% |
| Other amounts payable | 47/48 | €58,684 | €61,279 | +€2,595 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,115 | €3,074 | +€959 | +45.4% |
| Other operating charges | 640/8 | €2,545 | €2,472 | -€72 | -2.8% |
| Gross operating margin | 9900 | €16,161 | €18,733 | +€2,571 | +15.9% |
| Operating profit (loss) | 9901 | €11,502 | €13,186 | +€1,685 | +14.6% |
| Financial income | 75/76B | €737 | €1,225 | +€488 | +66.3% |
| Recurring financial income | 75 | €737 | €1,225 | +€488 | +66.3% |
| Financial charges | 65/66B | €3,332 | €4,124 | +€792 | +23.8% |
| Recurring financial charges | 65 | €3,332 | €4,124 | +€792 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €8,906 | €10,287 | +€1,381 | +15.5% |
| Income taxes | 67/77 | €2,064 | €3,108 | +€1,045 | +50.6% |
| Profit (loss) for the period | 9904 | €6,843 | €7,179 | +€336 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,843 | €7,179 | +€336 | +4.9% |
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.