HANNE VNF: 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.
HANNE VNF
Largest movements
- Cash -€499,551
down €499,551 (-82.9%), from €602,834 to €103,283
mainly Contributions, distributions and other (-€840,000) and Receivables within one year (-€221,812)
- Receivables within one year +€221,812
up €221,812, from €0 to €221,812
of which Other amounts receivable: +€218,812
- Current investments +€200,000
new in 2025: €200,000
- Other debts +€591,346
up €591,346 (+20,841%), from €2,837 to €594,184
- Reserves -€573,538
down €573,538 (-32.0%), from €1.8m to €1.2m
- Debts after one year -€100,259
down €100,259 (-31.4%), from €319,544 to €219,285
- Gross operating margin -€156,527
down €156,527 (-35.8%), from €437,713 to €281,186
- Financial income +€64,745
new in 2025: €64,745
- Taxes -€38,009
down €38,009 (-38.1%), from €99,871 to €61,862
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 | €2,275,116 | €2,187,210 | -€87,906 | -3.9% |
| Fixed assets | 21/28 | €1,663,083 | €1,662,048 | -€1,035 | -0.1% |
| Tangible fixed assets | 22/27 | €3,083 | €2,048 | -€1,035 | -33.6% |
| Plant, machinery and equipment | 23 | €503 | €80 | -€423 | -84.1% |
| Furniture and vehicles | 24 | €2,580 | €1,968 | -€612 | -23.7% |
| Financial fixed assets | 28 | €1,660,000 | €1,660,000 | = | 0.0% |
| Current assets | 29/58 | €612,033 | €525,162 | -€86,871 | -14.2% |
| Amounts receivable within one year | 40/41 | €0 | €221,812 | +€221,812 | |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €0 | €218,812 | +€218,812 | |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €602,834 | €103,283 | -€499,551 | -82.9% |
| Deferred charges and accrued income | 490/1 | €9,199 | €67 | -€9,132 | -99.3% |
| Total equity and liabilities | 10/49 | €2,275,116 | €2,187,210 | -€87,906 | -3.9% |
| Equity | 10/15 | €1,812,440 | €1,238,902 | -€573,538 | -31.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,793,840 | €1,220,302 | -€573,538 | -32.0% |
| Distributable reserves | 133 | €1,793,840 | €1,220,302 | -€573,538 | -32.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €462,676 | €948,308 | +€485,632 | +105% |
| Amounts payable after more than one year | 17 | €319,544 | €219,285 | -€100,259 | -31.4% |
| Financial debts | 170/4 | €319,544 | €219,285 | -€100,259 | -31.4% |
| Amounts payable within one year | 42/48 | €141,207 | €727,015 | +€585,808 | +415% |
| Current portion of amounts payable after more than one year | 42 | €97,151 | €100,259 | +€3,108 | +3.2% |
| Financial debts | 43 | €33,133 | €21,868 | -€11,265 | -34.0% |
| Credit institutions | 430/8 | €33,133 | €21,868 | -€11,265 | -34.0% |
| Trade debts | 44 | €1,658 | €2,528 | +€870 | +52.5% |
| Suppliers | 440/4 | €1,658 | €2,528 | +€870 | +52.5% |
| Taxes, remuneration and social security | 45 | €6,428 | €8,177 | +€1,749 | +27.2% |
| Taxes | 450/3 | €6,428 | €8,177 | +€1,749 | +27.2% |
| Other amounts payable | 47/48 | €2,837 | €594,184 | +€591,346 | +20,841% |
| Accrued charges and deferred income | 492/3 | €1,925 | €2,009 | +€84 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €903 | €1,035 | +€132 | +14.6% |
| Other operating charges | 640/8 | €1,176 | €1,325 | +€148 | +12.6% |
| Gross operating margin | 9900 | €437,713 | €281,186 | -€156,527 | -35.8% |
| Operating profit (loss) | 9901 | €435,634 | €278,827 | -€156,807 | -36.0% |
| Financial income | 75/76B | - | €64,745 | +€64,745 | |
| Recurring financial income | 75 | - | €64,745 | +€64,745 | |
| Financial charges | 65/66B | €17,933 | €15,248 | -€2,685 | -15.0% |
| Recurring financial charges | 65 | €17,933 | €15,248 | -€2,685 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €417,701 | €328,324 | -€89,378 | -21.4% |
| Income taxes | 67/77 | €99,871 | €61,862 | -€38,009 | -38.1% |
| Profit (loss) for the period | 9904 | €317,831 | €266,462 | -€51,368 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €317,831 | €266,462 | -€51,368 | -16.2% |
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 23 October 2026 via checked.be.