Hans Vandeborne: 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.
Hans Vandeborne
Largest movements
- Tangible fixed assets +€42,541
new in 2025: €42,541
- Cash +€39,023
up €39,023 (+258,089%), from €15 to €39,038
- Receivables within one year +€16,304
up €16,304 (+95.1%), from €17,148 to €33,453
of which Trade receivables: +€8,447
- Reserves +€59,974
up €59,974 (+715%), from €8,392 to €68,366
of which Distributable reserves: +€59,974
- Tax, wage and social debts +€21,452
new in 2025: €21,452
- Trade debts +€16,442
up €16,442 (+809%), from €2,033 to €18,475
- Gross operating margin +€76,700
up €76,700, from -€1,234 to €75,466
- Taxes +€7,867
new in 2025: €7,867
- Depreciation +€7,459
new in 2025: €7,459
- Financial income -€925
no longer reported in 2025 (was €925)
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,164 | €115,032 | +€97,869 | +570% |
| Fixed assets | 21/28 | - | €42,541 | +€42,541 | |
| Tangible fixed assets | 22/27 | - | €42,541 | +€42,541 | |
| Plant, machinery and equipment | 23 | - | €42,541 | +€42,541 | |
| Current assets | 29/58 | €17,164 | €72,491 | +€55,328 | +322% |
| Amounts receivable within one year | 40/41 | €17,148 | €33,453 | +€16,304 | +95.1% |
| Trade receivables | 40 | - | €8,447 | +€8,447 | |
| Other amounts receivable | 41 | €17,148 | €25,006 | +€7,857 | +45.8% |
| Cash at bank and in hand | 54/58 | €15 | €39,038 | +€39,023 | +258,089% |
| Total equity and liabilities | 10/49 | €17,164 | €115,032 | +€97,869 | +570% |
| Equity | 10/15 | €15,131 | €75,105 | +€59,974 | +396% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €8,392 | €68,366 | +€59,974 | +715% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €6,533 | €66,507 | +€59,974 | +918% |
| Profit (loss) carried forward | 14 | €541 | €541 | = | 0.0% |
| Amounts payable | 17/49 | €2,033 | €39,927 | +€37,894 | +1,864% |
| Amounts payable within one year | 42/48 | €2,033 | €39,927 | +€37,894 | +1,864% |
| Trade debts | 44 | €2,033 | €18,475 | +€16,442 | +809% |
| Suppliers | 440/4 | €2,033 | €18,475 | +€16,442 | +809% |
| Taxes, remuneration and social security | 45 | - | €21,452 | +€21,452 | |
| Taxes | 450/3 | - | €21,452 | +€21,452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,459 | +€7,459 | |
| Other operating charges | 640/8 | - | €150 | +€150 | |
| Gross operating margin | 9900 | -€1,234 | €75,466 | +€76,700 | |
| Operating profit (loss) | 9901 | -€1,234 | €67,857 | +€69,091 | |
| Financial income | 75/76B | €925 | - | -€925 | |
| Recurring financial income | 75 | €925 | - | -€925 | |
| Financial charges | 65/66B | - | €15 | +€15 | |
| Recurring financial charges | 65 | - | €15 | +€15 | |
| Profit (loss) for the period before taxes | 9903 | -€309 | €67,841 | +€68,151 | |
| Income taxes | 67/77 | - | €7,867 | +€7,867 | |
| Profit (loss) for the period | 9904 | -€309 | €59,974 | +€60,284 | |
| Profit (loss) for the period to be appropriated | 9905 | -€309 | €59,974 | +€60,284 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.