GEARCRAFT - VANHOUTTE: 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.
What changed
GEARCRAFT - VANHOUTTE
NACE 28.299, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.5m-€61,149
Equity
€11.7m
2024 · €11.0m+€752,961
Cash
€3.3m
2024 · €2.7m+€558,124
Balance sheet total
€14.1m
2024 · €13.4m+€784,850
Largest movements
Assets
- Cash +€558,124
up €558,124 (+20.6%), from €2.7m to €3.3m
mainly Net result for the year (+€1.4m) and Depreciation (+€877,890)
- Current investments +€281,768
up €281,768 (+6.5%), from €4.3m to €4.6m
Equity and liabilities
- Reserves +€752,961
up €752,961 (+7.0%), from €10.8m to €11.6m
of which Distributable reserves: +€771,703
- Trade debts +€192,427
up €192,427 (+148%), from €129,593 to €322,020
Income statement
- Gross operating margin +€230,598
up €230,598 (+7.0%), from €3.3m to €3.5m
- Depreciation +€98,412
up €98,412 (+12.6%), from €779,478 to €877,890
- Other operating charges +€76,485
up €76,485 (+313%), from €24,444 to €100,928
- Taxes +€57,846
up €57,846 (+21.1%), from €274,495 to €332,342
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.
Result 2024
€1.5m
Gross operating margin
+€230,598
Staff costs
-€31,981
Depreciation
-€98,412
Write-downs
-€15,930
Other operating charges
-€76,485
Financial income
-€18,615
Financial charges
+€7,523
Taxes
-€57,846
Result 2025
€1.4m
raises the resultlowers the result
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.
From operations
+€2.4m
Investment
-€1.0m
Financing
-€780,850
Cash 2024
€2.7m
From operations (derived)
+€2.4m
Net result for the year
+€1.4m
Depreciation
+€877,890
Stocks and contracts
+€4,365
Receivables within one year
-€86,676
Deferred charges and accrued income
+€25,461
Provisions
-€6,247
Trade debts
+€192,427
Tax, wage and social debts
-€40,990
Other debts
+€14,368
Accrued charges and deferred income
+€3,180
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€765,998
Current investments
-€281,768
Financing
-€780,850
Debts after one year
-€130,850
Contributions, distributions and other
-€650,000
Cash 2025
€3.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,359,350 | €14,144,199 | +€784,850 | +5.9% |
| Fixed assets | 21/28 | €4,742,060 | €4,630,168 | -€111,892 | -2.4% |
| Tangible fixed assets | 22/27 | €4,742,010 | €4,630,118 | -€111,892 | -2.4% |
| Land and buildings | 22 | €1,894,369 | €1,716,929 | -€177,439 | -9.4% |
| Plant, machinery and equipment | 23 | €1,589,376 | €1,682,993 | +€93,617 | +5.9% |
| Furniture and vehicles | 24 | €30,281 | €39,987 | +€9,706 | +32.1% |
| Other tangible fixed assets | 26 | €1,227,984 | €1,190,208 | -€37,776 | -3.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €8,617,290 | €9,514,032 | +€896,742 | +10.4% |
| Amounts receivable after more than one year | 29 | €125,000 | €125,000 | = | 0.0% |
| Other amounts receivable | 291 | €125,000 | €125,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €198,250 | €193,885 | -€4,365 | -2.2% |
| Stocks | 30/36 | €198,250 | €193,885 | -€4,365 | -2.2% |
| Amounts receivable within one year | 40/41 | €1,161,888 | €1,248,564 | +€86,676 | +7.5% |
| Trade receivables | 40 | €563,426 | €692,601 | +€129,175 | +22.9% |
| Other amounts receivable | 41 | €598,462 | €555,963 | -€42,499 | -7.1% |
| Current investments | 50/53 | €4,341,707 | €4,623,475 | +€281,768 | +6.5% |
| Cash at bank and in hand | 54/58 | €2,707,539 | €3,265,663 | +€558,124 | +20.6% |
| Deferred charges and accrued income | 490/1 | €82,906 | €57,445 | -€25,461 | -30.7% |
| Total equity and liabilities | 10/49 | €13,359,350 | €14,144,199 | +€784,850 | +5.9% |
| Equity | 10/15 | €10,954,963 | €11,707,924 | +€752,961 | +6.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €10,829,963 | €11,582,924 | +€752,961 | +7.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €201,478 | €182,736 | -€18,742 | -9.3% |
| Distributable reserves | 133 | €10,615,985 | €11,387,688 | +€771,703 | +7.3% |
| Provisions and deferred taxes | 16 | €67,159 | €60,912 | -€6,247 | -9.3% |
| Deferred taxes | 168 | €67,159 | €60,912 | -€6,247 | -9.3% |
| Amounts payable | 17/49 | €2,337,228 | €2,375,364 | +€38,136 | +1.6% |
| Amounts payable after more than one year | 17 | €1,163,825 | €1,032,975 | -€130,850 | -11.2% |
| Financial debts | 170/4 | €1,163,825 | €1,032,975 | -€130,850 | -11.2% |
| Amounts payable within one year | 42/48 | €1,150,379 | €1,316,185 | +€165,806 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €130,850 | €130,850 | = | 0.0% |
| Trade debts | 44 | €129,593 | €322,020 | +€192,427 | +148% |
| Suppliers | 440/4 | €129,593 | €322,020 | +€192,427 | +148% |
| Taxes, remuneration and social security | 45 | €181,415 | €140,425 | -€40,990 | -22.6% |
| Taxes | 450/3 | €48,045 | €7,324 | -€40,721 | -84.8% |
| Remuneration and social security | 454/9 | €133,370 | €133,101 | -€269 | -0.2% |
| Other amounts payable | 47/48 | €708,521 | €722,889 | +€14,368 | +2.0% |
| Accrued charges and deferred income | 492/3 | €23,024 | €26,204 | +€3,180 | +13.8% |
| Non-recurring operating income | 76A | - | €327,057 | +€327,057 | |
| Remuneration, social security and pensions | 62 | €885,580 | €917,561 | +€31,981 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €779,478 | €877,890 | +€98,412 | +12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,577 | €21,508 | +€15,930 | +286% |
| Other operating charges | 640/8 | €24,444 | €100,928 | +€76,485 | +313% |
| Gross operating margin | 9900 | €3,304,287 | €3,534,885 | +€230,598 | +7.0% |
| Operating profit (loss) | 9901 | €1,609,207 | €1,616,998 | +€7,790 | +0.5% |
| Financial income | 75/76B | €193,997 | €175,381 | -€18,615 | -9.6% |
| Recurring financial income | 75 | €193,997 | €175,381 | -€18,615 | -9.6% |
| Financial charges | 65/66B | €70,846 | €63,323 | -€7,523 | -10.6% |
| Recurring financial charges | 65 | €70,846 | €63,323 | -€7,523 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €1,732,358 | €1,729,056 | -€3,302 | -0.2% |
| Transfer from deferred taxes | 780 | €6,247 | €6,247 | = | 0.0% |
| Income taxes | 67/77 | €274,495 | €332,342 | +€57,846 | +21.1% |
| Profit (loss) for the period | 9904 | €1,464,110 | €1,402,961 | -€61,149 | -4.2% |
| Transfer from tax-exempt reserves | 789 | €18,742 | €18,742 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,482,852 | €1,421,703 | -€61,149 | -4.1% |
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 24 October 2026 via checked.be.