DR. VANHEES S.: 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.
DR. VANHEES S.
Largest movements
- Cash -€24,792
down €24,792 (-6.0%), from €414,629 to €389,837
mainly Contributions, distributions and other (-€116,000) and Trade debts (-€8,411)
- Tangible fixed assets -€17,781
down €17,781 (-35.5%), from €50,060 to €32,279
of which Furniture and vehicles: -€16,839
- Reserves -€46,911
down €46,911 (-14.3%), from €327,668 to €280,757
- Trade debts -€8,411
down €8,411 (-70.6%), from €11,917 to €3,506
- Other debts +€5,561
up €5,561 (+14.9%), from €37,364 to €42,925
- Tax, wage and social debts +€5,543
up €5,543 (+25.1%), from €22,112 to €27,655
of which Taxes: +€5,543
- Gross operating margin +€1,188
up €1,188 (+1.0%), from €114,147 to €115,336
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 | €482,837 | €438,955 | -€43,881 | -9.1% |
| Fixed assets | 21/28 | €50,060 | €32,279 | -€17,781 | -35.5% |
| Tangible fixed assets | 22/27 | €50,060 | €32,279 | -€17,781 | -35.5% |
| Plant, machinery and equipment | 23 | €2,419 | €1,477 | -€942 | -38.9% |
| Furniture and vehicles | 24 | €47,641 | €30,802 | -€16,839 | -35.3% |
| Current assets | 29/58 | €432,777 | €406,677 | -€26,100 | -6.0% |
| Cash at bank and in hand | 54/58 | €414,629 | €389,837 | -€24,792 | -6.0% |
| Deferred charges and accrued income | 490/1 | €18,148 | €16,840 | -€1,308 | -7.2% |
| Total equity and liabilities | 10/49 | €482,837 | €438,955 | -€43,881 | -9.1% |
| Equity | 10/15 | €408,563 | €361,651 | -€46,911 | -11.5% |
| Reserves | 13 | €327,668 | €280,757 | -€46,911 | -14.3% |
| Distributable reserves | 133 | €327,668 | €280,757 | -€46,911 | -14.3% |
| Profit (loss) carried forward | 14 | €80,895 | €80,895 | = | 0.0% |
| Amounts payable | 17/49 | €74,274 | €77,304 | +€3,030 | +4.1% |
| Amounts payable within one year | 42/48 | €71,393 | €74,086 | +€2,693 | +3.8% |
| Trade debts | 44 | €11,917 | €3,506 | -€8,411 | -70.6% |
| Suppliers | 440/4 | €11,917 | €3,506 | -€8,411 | -70.6% |
| Taxes, remuneration and social security | 45 | €22,112 | €27,655 | +€5,543 | +25.1% |
| Taxes | 450/3 | €11,312 | €16,855 | +€5,543 | +49.0% |
| Remuneration and social security | 454/9 | €10,800 | €10,800 | = | 0.0% |
| Other amounts payable | 47/48 | €37,364 | €42,925 | +€5,561 | +14.9% |
| Accrued charges and deferred income | 492/3 | €2,881 | €3,218 | +€337 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,344 | €17,781 | +€437 | +2.5% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €114,147 | €115,336 | +€1,188 | +1.0% |
| Operating profit (loss) | 9901 | €96,298 | €97,035 | +€737 | +0.8% |
| Financial income | 75/76B | €1,656 | €1,602 | -€54 | -3.3% |
| Recurring financial income | 75 | €1,656 | €1,602 | -€54 | -3.3% |
| Financial charges | 65/66B | €2,558 | €2,862 | +€304 | +11.9% |
| Recurring financial charges | 65 | €2,558 | €2,862 | +€304 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €95,396 | €95,774 | +€379 | +0.4% |
| Income taxes | 67/77 | €26,808 | €26,686 | -€123 | -0.5% |
| Profit (loss) for the period | 9904 | €68,587 | €69,089 | +€501 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,587 | €69,089 | +€501 | +0.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.