D'HAENE - VANLEDE: 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.
D'HAENE - VANLEDE
Largest movements
- Tangible fixed assets +€25,859
up €25,859 (+84.9%), from €30,467 to €56,326
of which Plant, machinery and equipment: +€13,864
- Cash +€21,183
up €21,183 (+109%), from €19,452 to €40,635
mainly Net result for the year (+€35,183) and Trade debts (+€17,671)
- Receivables within one year -€10,389
down €10,389 (-5.2%), from €199,823 to €189,434
of which Trade receivables: -€10,389
- Deferred charges and accrued income +€6,409
up €6,409 (+249%), from €2,574 to €8,983
- Reserves +€31,017
up €31,017 (+56.9%), from €54,554 to €85,570
- Trade debts +€17,671
up €17,671 (+13.8%), from €127,781 to €145,452
- Debts after one year -€8,507
down €8,507 (-22.3%), from €38,192 to €29,684
of which Financial debts: -€6,507
- Gross operating margin +€11,750
up €11,750 (+11.3%), from €103,600 to €115,349
- Staff costs +€7,335
up €7,335 (+19.7%), from €37,256 to €44,590
- Depreciation +€4,599
up €4,599 (+44.6%), from €10,306 to €14,905
- Taxes +€4,383
up €4,383 (+47.0%), from €9,323 to €13,706
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 | €261,597 | €302,482 | +€40,885 | +15.6% |
| Fixed assets | 21/28 | €33,256 | €58,726 | +€25,470 | +76.6% |
| Intangible fixed assets | 21 | €389 | €0 | -€389 | -100% |
| Tangible fixed assets | 22/27 | €30,467 | €56,326 | +€25,859 | +84.9% |
| Plant, machinery and equipment | 23 | €3,405 | €17,270 | +€13,864 | +407% |
| Furniture and vehicles | 24 | €26,945 | €39,057 | +€12,112 | +44.9% |
| Other tangible fixed assets | 26 | €117 | €0 | -€117 | -100% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €228,341 | €243,756 | +€15,415 | +6.8% |
| Stocks and contracts in progress | 3 | €6,492 | €4,704 | -€1,788 | -27.5% |
| Stocks | 30/36 | €6,492 | €4,704 | -€1,788 | -27.5% |
| Amounts receivable within one year | 40/41 | €199,823 | €189,434 | -€10,389 | -5.2% |
| Trade receivables | 40 | €199,823 | €189,434 | -€10,389 | -5.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €19,452 | €40,635 | +€21,183 | +109% |
| Deferred charges and accrued income | 490/1 | €2,574 | €8,983 | +€6,409 | +249% |
| Total equity and liabilities | 10/49 | €261,597 | €302,482 | +€40,885 | +15.6% |
| Equity | 10/15 | €60,754 | €91,770 | +€31,017 | +51.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,554 | €85,570 | +€31,017 | +56.9% |
| Distributable reserves | 133 | €54,554 | €85,570 | +€31,017 | +56.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €200,844 | €210,712 | +€9,868 | +4.9% |
| Amounts payable after more than one year | 17 | €38,192 | €29,684 | -€8,507 | -22.3% |
| Financial debts | 170/4 | €13,902 | €7,394 | -€6,507 | -46.8% |
| Other amounts payable | 178/9 | €24,290 | €22,290 | -€2,000 | -8.2% |
| Amounts payable within one year | 42/48 | €157,984 | €176,689 | +€18,706 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €6,808 | €6,507 | -€301 | -4.4% |
| Trade debts | 44 | €127,781 | €145,452 | +€17,671 | +13.8% |
| Suppliers | 440/4 | €127,781 | €145,452 | +€17,671 | +13.8% |
| Taxes, remuneration and social security | 45 | €20,457 | €19,294 | -€1,164 | -5.7% |
| Taxes | 450/3 | €14,656 | €12,476 | -€2,180 | -14.9% |
| Remuneration and social security | 454/9 | €5,801 | €6,817 | +€1,016 | +17.5% |
| Other amounts payable | 47/48 | €2,937 | €5,437 | +€2,500 | +85.1% |
| Accrued charges and deferred income | 492/3 | €4,668 | €4,338 | -€330 | -7.1% |
| Non-recurring operating income | 76A | €1,653 | €0 | -€1,653 | -100% |
| Remuneration, social security and pensions | 62 | €37,256 | €44,590 | +€7,335 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,306 | €14,905 | +€4,599 | +44.6% |
| Other operating charges | 640/8 | €5,138 | €4,298 | -€840 | -16.3% |
| Non-recurring operating charges | 66A | €19,370 | €0 | -€19,370 | -100% |
| Gross operating margin | 9900 | €103,600 | €115,349 | +€11,750 | +11.3% |
| Operating profit (loss) | 9901 | €31,531 | €51,556 | +€20,025 | +63.5% |
| Financial income | 75/76B | €78 | €6 | -€73 | -92.9% |
| Recurring financial income | 75 | €78 | €6 | -€73 | -92.9% |
| Financial charges | 65/66B | €2,928 | €2,673 | -€256 | -8.7% |
| Recurring financial charges | 65 | €2,928 | €2,673 | -€256 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €28,681 | €48,889 | +€20,208 | +70.5% |
| Income taxes | 67/77 | €9,323 | €13,706 | +€4,383 | +47.0% |
| Profit (loss) for the period | 9904 | €19,358 | €35,183 | +€15,825 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,358 | €35,183 | +€15,825 | +81.8% |
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 16 October 2026 via checked.be.