DHAESE - VANLERBERGHE: 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.
DHAESE - VANLERBERGHE
Largest movements
- Cash +€193,250
up €193,250 (+97.4%), from €198,314 to €391,564
mainly Net result for the year (+€261,888) and Deferred charges and accrued income (+€25,253)
- Current investments +€70,087
up €70,087 (+5.0%), from €1.4m to €1.5m
- Deferred charges and accrued income -€25,253
down €25,253 (-71.3%), from €35,409 to €10,155
- Tangible fixed assets -€20,716
down €20,716 (-34.6%), from €59,889 to €39,173
of which Land and buildings: -€15,689
- Reserves +€190,233
up €190,233 (+11.3%), from €1.7m to €1.9m
of which Distributable reserves: +€291,273
- Gross operating margin +€49,360
up €49,360 (+17.4%), from €282,926 to €332,286
- Financial income +€28,724
up €28,724 (+58.7%), from €48,921 to €77,645
- Taxes +€23,562
up €23,562 (+26.2%), from €89,767 to €113,329
- Other operating charges -€5,552
down €5,552 (-58.7%), from €9,452 to €3,900
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 | €1,793,798 | €1,997,951 | +€204,153 | +11.4% |
| Fixed assets | 21/28 | €59,939 | €39,223 | -€20,716 | -34.6% |
| Tangible fixed assets | 22/27 | €59,889 | €39,173 | -€20,716 | -34.6% |
| Land and buildings | 22 | €15,689 | €0 | -€15,689 | -100% |
| Furniture and vehicles | 24 | €43,600 | €38,573 | -€5,027 | -11.5% |
| Other tangible fixed assets | 26 | €600 | €600 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,733,859 | €1,958,728 | +€224,869 | +13.0% |
| Amounts receivable within one year | 40/41 | €91,610 | €78,395 | -€13,214 | -14.4% |
| Trade receivables | 40 | €46,573 | €53,279 | +€6,707 | +14.4% |
| Other amounts receivable | 41 | €45,037 | €25,116 | -€19,921 | -44.2% |
| Current investments | 50/53 | €1,408,527 | €1,478,614 | +€70,087 | +5.0% |
| Cash at bank and in hand | 54/58 | €198,314 | €391,564 | +€193,250 | +97.4% |
| Deferred charges and accrued income | 490/1 | €35,409 | €10,155 | -€25,253 | -71.3% |
| Total equity and liabilities | 10/49 | €1,793,798 | €1,997,951 | +€204,153 | +11.4% |
| Equity | 10/15 | €1,698,595 | €1,888,827 | +€190,233 | +11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,679,995 | €1,870,227 | +€190,233 | +11.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €311,540 | €210,500 | -€101,040 | -32.4% |
| Distributable reserves | 133 | €1,368,455 | €1,659,727 | +€291,273 | +21.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €95,203 | €109,124 | +€13,920 | +14.6% |
| Amounts payable within one year | 42/48 | €78,162 | €86,108 | +€7,946 | +10.2% |
| Trade debts | 44 | €4,869 | €1,251 | -€3,618 | -74.3% |
| Suppliers | 440/4 | €4,869 | €1,251 | -€3,618 | -74.3% |
| Taxes, remuneration and social security | 45 | €4,606 | €11,694 | +€7,088 | +154% |
| Taxes | 450/3 | €2,720 | €9,718 | +€6,998 | +257% |
| Remuneration and social security | 454/9 | €1,886 | €1,977 | +€90 | +4.8% |
| Other amounts payable | 47/48 | €68,687 | €73,163 | +€4,476 | +6.5% |
| Accrued charges and deferred income | 492/3 | €17,042 | €23,016 | +€5,974 | +35.1% |
| Non-recurring operating income | 76A | €13,000 | €29,311 | +€16,311 | +125% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,296 | €14,969 | -€327 | -2.1% |
| Other operating charges | 640/8 | €9,452 | €3,900 | -€5,552 | -58.7% |
| Gross operating margin | 9900 | €282,926 | €332,286 | +€49,360 | +17.4% |
| Operating profit (loss) | 9901 | €258,177 | €313,417 | +€55,240 | +21.4% |
| Financial income | 75/76B | €48,921 | €77,645 | +€28,724 | +58.7% |
| Recurring financial income | 75 | €48,921 | €77,645 | +€28,724 | +58.7% |
| Financial charges | 65/66B | €16,343 | €15,845 | -€498 | -3.0% |
| Recurring financial charges | 65 | €16,343 | €15,845 | -€498 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €290,756 | €375,218 | +€84,462 | +29.0% |
| Income taxes | 67/77 | €89,767 | €113,329 | +€23,562 | +26.2% |
| Profit (loss) for the period | 9904 | €200,988 | €261,888 | +€60,900 | +30.3% |
| Transfer from tax-exempt reserves | 789 | €0 | €101,040 | +€101,040 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €200,988 | €362,928 | +€161,940 | +80.6% |
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 28 October 2026 via checked.be.