GLENN VANHASSEL: 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.
GLENN VANHASSEL
Largest movements
- Tangible fixed assets +€77,143
up €77,143 (+97.5%), from €79,153 to €156,296
of which Furniture and vehicles: +€44,326
- Receivables within one year +€6,688
up €6,688 (+45.1%), from €14,831 to €21,518
of which Trade receivables: +€9,451
- Cash +€5,750
up €5,750 (+9.5%), from €60,412 to €66,163
mainly Debts after one year (+€61,900) and Depreciation (+€24,126)
- Deferred charges and accrued income -€2,806
down €2,806 (-100%), from €2,806 to €0
- Debts after one year +€61,900
up €61,900 (+146%), from €42,334 to €104,234
- Current portion of long-term debt +€19,400
up €19,400 (+116%), from €16,740 to €36,140
- Reserves +€8,634
up €8,634 (+18.0%), from €47,999 to €56,633
- Tax, wage and social debts -€2,633
down €2,633 (-8.8%), from €29,775 to €27,142
- Trade debts -€2,613
down €2,613 (-66.5%), from €3,932 to €1,319
- Gross operating margin +€13,659
up €13,659 (+43.7%), from €31,250 to €44,908
- Depreciation +€4,884
up €4,884 (+25.4%), from €19,242 to €24,126
- Other operating charges +€3,136
up €3,136 (+269%), from €1,166 to €4,302
- Financial charges +€1,223
up €1,223 (+33.0%), from €3,702 to €4,925
- Taxes +€542
up €542 (+22.7%), from €2,388 to €2,930
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 | €161,044 | €247,818 | +€86,774 | +53.9% |
| Fixed assets | 21/28 | €79,153 | €156,296 | +€77,143 | +97.5% |
| Tangible fixed assets | 22/27 | €79,153 | €156,296 | +€77,143 | +97.5% |
| Land and buildings | 22 | €55,914 | €48,255 | -€7,659 | -13.7% |
| Plant, machinery and equipment | 23 | €9,151 | €49,626 | +€40,475 | +442% |
| Furniture and vehicles | 24 | €14,088 | €58,414 | +€44,326 | +315% |
| Current assets | 29/58 | €81,891 | €91,523 | +€9,632 | +11.8% |
| Stocks and contracts in progress | 3 | €3,842 | €3,842 | = | 0.0% |
| Stocks | 30/36 | €3,842 | €3,842 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,831 | €21,518 | +€6,688 | +45.1% |
| Trade receivables | 40 | €12,067 | €21,518 | +€9,451 | +78.3% |
| Other amounts receivable | 41 | €2,763 | €0 | -€2,763 | -100% |
| Cash at bank and in hand | 54/58 | €60,412 | €66,163 | +€5,750 | +9.5% |
| Deferred charges and accrued income | 490/1 | €2,806 | €0 | -€2,806 | -100% |
| Total equity and liabilities | 10/49 | €161,044 | €247,818 | +€86,774 | +53.9% |
| Equity | 10/15 | €66,599 | €75,233 | +€8,634 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,999 | €56,633 | +€8,634 | +18.0% |
| Distributable reserves | 133 | €47,999 | €56,633 | +€8,634 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €94,445 | €172,585 | +€78,140 | +82.7% |
| Amounts payable after more than one year | 17 | €42,334 | €104,234 | +€61,900 | +146% |
| Financial debts | 170/4 | €42,334 | €104,234 | +€61,900 | +146% |
| Amounts payable within one year | 42/48 | €52,111 | €68,352 | +€16,241 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €16,740 | €36,140 | +€19,400 | +116% |
| Trade debts | 44 | €3,932 | €1,319 | -€2,613 | -66.5% |
| Suppliers | 440/4 | €3,932 | €1,319 | -€2,613 | -66.5% |
| Taxes, remuneration and social security | 45 | €29,775 | €27,142 | -€2,633 | -8.8% |
| Taxes | 450/3 | €29,775 | €27,142 | -€2,633 | -8.8% |
| Other amounts payable | 47/48 | €1,665 | €3,751 | +€2,087 | +125% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,242 | €24,126 | +€4,884 | +25.4% |
| Other operating charges | 640/8 | €1,166 | €4,302 | +€3,136 | +269% |
| Gross operating margin | 9900 | €31,250 | €44,908 | +€13,659 | +43.7% |
| Operating profit (loss) | 9901 | €10,841 | €16,480 | +€5,639 | +52.0% |
| Financial income | 75/76B | €0 | €9 | +€9 | |
| Recurring financial income | 75 | €0 | €9 | +€9 | |
| Financial charges | 65/66B | €3,702 | €4,925 | +€1,223 | +33.0% |
| Recurring financial charges | 65 | €3,702 | €4,925 | +€1,223 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €7,139 | €11,564 | +€4,425 | +62.0% |
| Income taxes | 67/77 | €2,388 | €2,930 | +€542 | +22.7% |
| Profit (loss) for the period | 9904 | €4,751 | €8,634 | +€3,883 | +81.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,751 | €8,634 | +€3,883 | +81.7% |
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 21 October 2026 via checked.be.