Florian Vanhevel: 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.
Florian Vanhevel
Largest movements
- Receivables within one year +€2,472
up €2,472 (+65.0%), from €3,804 to €6,276
of which Other amounts receivable: +€1,481
- Other debts +€52,865
up €52,865 (+204%), from €25,950 to €78,815
- Reserves -€47,432
no longer reported in 2025 (was €47,432)
- Debts after one year -€3,934
down €3,934 (-73.2%), from €5,374 to €1,440
- Accrued charges and deferred income -€1,656
down €1,656 (-62.1%), from €2,668 to €1,012
- Current portion of long-term debt +€1,248
up €1,248 (+24.2%), from €5,164 to €6,412
- Depreciation +€4,717
up €4,717 (+82.9%), from €5,691 to €10,408
- Gross operating margin +€1,769
up €1,769 (+7.2%), from €24,445 to €26,215
- Other operating charges +€812
up €812 (+93.3%), from €869 to €1,681
- Taxes -€698
down €698 (-16.7%), from €4,180 to €3,482
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 | €91,541 | €92,833 | +€1,292 | +1.4% |
| Fixed assets | 21/28 | €35,237 | €34,719 | -€518 | -1.5% |
| Tangible fixed assets | 22/27 | €35,237 | €34,719 | -€518 | -1.5% |
| Plant, machinery and equipment | 23 | €35,237 | €28,228 | -€7,009 | -19.9% |
| Furniture and vehicles | 24 | - | €3,780 | +€3,780 | |
| Other tangible fixed assets | 26 | - | €2,712 | +€2,712 | |
| Current assets | 29/58 | €56,304 | €58,114 | +€1,810 | +3.2% |
| Stocks and contracts in progress | 3 | €750 | €750 | = | 0.0% |
| Stocks | 30/36 | €750 | €750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,804 | €6,276 | +€2,472 | +65.0% |
| Trade receivables | 40 | - | €991 | +€991 | |
| Other amounts receivable | 41 | €3,804 | €5,285 | +€1,481 | +38.9% |
| Cash at bank and in hand | 54/58 | €51,386 | €51,088 | -€298 | -0.6% |
| Deferred charges and accrued income | 490/1 | €364 | - | -€364 | |
| Total equity and liabilities | 10/49 | €91,541 | €92,833 | +€1,292 | +1.4% |
| Equity | 10/15 | €51,032 | €3,600 | -€47,432 | -92.9% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €47,432 | - | -€47,432 | |
| Distributable reserves | 133 | €47,432 | - | -€47,432 | |
| Amounts payable | 17/49 | €40,509 | €89,233 | +€48,724 | +120% |
| Amounts payable after more than one year | 17 | €5,374 | €1,440 | -€3,934 | -73.2% |
| Financial debts | 170/4 | €5,374 | €1,440 | -€3,934 | -73.2% |
| Amounts payable within one year | 42/48 | €32,466 | €86,780 | +€54,314 | +167% |
| Current portion of amounts payable after more than one year | 42 | €5,164 | €6,412 | +€1,248 | +24.2% |
| Trade debts | 44 | €19 | €207 | +€188 | +990% |
| Suppliers | 440/4 | €19 | €207 | +€188 | +990% |
| Taxes, remuneration and social security | 45 | €1,333 | €1,347 | +€14 | +1.1% |
| Remuneration and social security | 454/9 | €1,333 | €1,347 | +€14 | +1.1% |
| Other amounts payable | 47/48 | €25,950 | €78,815 | +€52,865 | +204% |
| Accrued charges and deferred income | 492/3 | €2,668 | €1,012 | -€1,656 | -62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,691 | €10,408 | +€4,717 | +82.9% |
| Other operating charges | 640/8 | €869 | €1,681 | +€812 | +93.3% |
| Gross operating margin | 9900 | €24,445 | €26,215 | +€1,769 | +7.2% |
| Operating profit (loss) | 9901 | €17,885 | €14,126 | -€3,759 | -21.0% |
| Financial income | 75/76B | €79 | €113 | +€34 | +42.8% |
| Recurring financial income | 75 | €79 | €113 | +€34 | +42.8% |
| Financial charges | 65/66B | €922 | €814 | -€108 | -11.7% |
| Recurring financial charges | 65 | €922 | €814 | -€108 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €17,042 | €13,425 | -€3,618 | -21.2% |
| Income taxes | 67/77 | €4,180 | €3,482 | -€698 | -16.7% |
| Profit (loss) for the period | 9904 | €12,862 | €9,943 | -€2,920 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,862 | €9,943 | -€2,920 | -22.7% |
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.