HENK VANASSCHE: 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.
HENK VANASSCHE
Largest movements
- Tangible fixed assets +€104,597
up €104,597 (+122%), from €86,079 to €190,676
of which Furniture and vehicles: +€109,887
- Current investments +€52,146
up €52,146 (+52.5%), from €99,315 to €151,461
- Trade debts +€137,584
up €137,584 (+4,607%), from €2,986 to €140,570
- Reserves +€38,852
up €38,852 (+11.3%), from €345,149 to €384,001
of which Distributable reserves: +€38,852
- Tax, wage and social debts -€9,374
no longer reported in 2025 (was €9,374)
- Gross operating margin -€27,230
down €27,230 (-32.4%), from €84,065 to €56,835
- Financial income +€10,995
up €10,995 (+823%), from €1,337 to €12,332
- Taxes -€7,600
down €7,600 (-32.5%), from €23,366 to €15,766
- Write-downs +€2,430
no longer reported in 2025 (was -€2,430)
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 | €380,830 | €544,201 | +€163,371 | +42.9% |
| Fixed assets | 21/28 | €86,289 | €190,886 | +€104,597 | +121% |
| Tangible fixed assets | 22/27 | €86,079 | €190,676 | +€104,597 | +122% |
| Land and buildings | 22 | €16,761 | €13,884 | -€2,877 | -17.2% |
| Plant, machinery and equipment | 23 | €1,319 | €1,089 | -€230 | -17.4% |
| Furniture and vehicles | 24 | €44,785 | €154,672 | +€109,887 | +245% |
| Leasing and similar rights | 25 | €23,215 | €21,031 | -€2,183 | -9.4% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €294,541 | €353,314 | +€58,774 | +20.0% |
| Amounts receivable within one year | 40/41 | €33,599 | €36,377 | +€2,778 | +8.3% |
| Trade receivables | 40 | €33,599 | €16,070 | -€17,529 | -52.2% |
| Other amounts receivable | 41 | - | €20,307 | +€20,307 | |
| Current investments | 50/53 | €99,315 | €151,461 | +€52,146 | +52.5% |
| Cash at bank and in hand | 54/58 | €161,627 | €165,476 | +€3,849 | +2.4% |
| Total equity and liabilities | 10/49 | €380,830 | €544,201 | +€163,371 | +42.9% |
| Equity | 10/15 | €363,749 | €402,601 | +€38,852 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €345,149 | €384,001 | +€38,852 | +11.3% |
| Tax-exempt reserves | 132 | €26,708 | €26,708 | = | 0.0% |
| Distributable reserves | 133 | €318,441 | €357,293 | +€38,852 | +12.2% |
| Amounts payable | 17/49 | €17,081 | €141,599 | +€124,518 | +729% |
| Amounts payable within one year | 42/48 | €17,081 | €141,599 | +€124,518 | +729% |
| Trade debts | 44 | €2,986 | €140,570 | +€137,584 | +4,607% |
| Suppliers | 440/4 | €2,986 | €140,570 | +€137,584 | +4,607% |
| Taxes, remuneration and social security | 45 | €9,374 | - | -€9,374 | |
| Taxes | 450/3 | €9,374 | - | -€9,374 | |
| Other amounts payable | 47/48 | €4,721 | €1,029 | -€3,691 | -78.2% |
| Non-recurring operating income | 76A | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,726 | €10,403 | -€323 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,430 | - | +€2,430 | |
| Other operating charges | 640/8 | €2,101 | €2,009 | -€92 | -4.4% |
| Gross operating margin | 9900 | €84,065 | €56,835 | -€27,230 | -32.4% |
| Operating profit (loss) | 9901 | €73,668 | €44,424 | -€29,245 | -39.7% |
| Financial income | 75/76B | €1,337 | €12,332 | +€10,995 | +823% |
| Recurring financial income | 75 | €1,337 | €12,332 | +€10,995 | +823% |
| Financial charges | 65/66B | €2,269 | €2,137 | -€133 | -5.8% |
| Recurring financial charges | 65 | €2,269 | €2,137 | -€133 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €72,736 | €54,619 | -€18,117 | -24.9% |
| Income taxes | 67/77 | €23,366 | €15,766 | -€7,600 | -32.5% |
| Profit (loss) for the period | 9904 | €49,369 | €38,852 | -€10,517 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,369 | €38,852 | -€10,517 | -21.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.