IVAN VANHOUTTE: what changed
Two fiscal 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.
IVAN VANHOUTTE
Largest movements
- Tangible fixed assets +€35,288
up €35,288 (+5.6%), from €627,910 to €663,198
of which Land and buildings: +€40,436
- Profit (loss) carried forward +€36,789
up €36,789 (+16.6%), from €221,684 to €258,473
- Debts after one year -€22,581
down €22,581 (-9.0%), from €250,855 to €228,274
- Other debts +€20,410
up €20,410 (+21.2%), from €96,483 to €116,893
- Trade debts +€11,464
up €11,464 (+10.8%), from €106,167 to €117,631
- Turnover -€238,027
no longer reported in 2025 (was €238,027)
- Purchases and services -€99,588
no longer reported in 2025 (was €99,588)
- Depreciation +€6,029
up €6,029 (+16.0%), from €37,778 to €43,807
- Gross operating margin +€4,537
up €4,537 (+2.7%), from €168,089 to €172,626
- Taxes -€3,458
down €3,458 (-27.3%), from €12,655 to €9,197
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.
Cash bridge derived
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 | €727,216 | €769,275 | +€42,059 | +5.8% |
| Fixed assets | 21/28 | €627,910 | €663,198 | +€35,288 | +5.6% |
| Tangible fixed assets | 22/27 | €627,910 | €663,198 | +€35,288 | +5.6% |
| Land and buildings | 22 | €620,805 | €661,241 | +€40,436 | +6.5% |
| Plant, machinery and equipment | 23 | €1,537 | €768 | -€769 | -50.0% |
| Furniture and vehicles | 24 | €5,568 | €1,188 | -€4,380 | -78.7% |
| Current assets | 29/58 | €99,306 | €106,077 | +€6,771 | +6.8% |
| Amounts receivable within one year | 40/41 | €17,768 | €21,624 | +€3,856 | +21.7% |
| Trade receivables | 40 | €17,768 | €21,624 | +€3,856 | +21.7% |
| Cash at bank and in hand | 54/58 | €81,538 | €84,453 | +€2,915 | +3.6% |
| Total equity and liabilities | 10/49 | €727,216 | €769,275 | +€42,059 | +5.8% |
| Equity | 10/15 | €242,484 | €279,273 | +€36,789 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,200 | €2,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Legal reserve | 130 | €2,200 | €2,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €221,684 | €258,473 | +€36,789 | +16.6% |
| Amounts payable | 17/49 | €484,732 | €490,002 | +€5,270 | +1.1% |
| Amounts payable after more than one year | 17 | €250,855 | €228,274 | -€22,581 | -9.0% |
| Financial debts | 170/4 | €250,855 | €228,274 | -€22,581 | -9.0% |
| Amounts payable within one year | 42/48 | €233,877 | €261,728 | +€27,851 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €22,581 | €22,581 | +€0 | 0.0% |
| Trade debts | 44 | €106,167 | €117,631 | +€11,464 | +10.8% |
| Suppliers | 440/4 | €106,167 | €117,631 | +€11,464 | +10.8% |
| Taxes, remuneration and social security | 45 | €8,646 | €4,623 | -€4,024 | -46.5% |
| Taxes | 450/3 | €8,646 | €4,623 | -€4,024 | -46.5% |
| Other amounts payable | 47/48 | €96,483 | €116,893 | +€20,410 | +21.2% |
| Turnover | 70 | €238,027 | - | -€238,027 | |
| Goods, raw materials, services and sundry goods | 60/61 | €99,588 | - | -€99,588 | |
| Remuneration, social security and pensions | 62 | €65,761 | €67,814 | +€2,053 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,778 | €43,807 | +€6,029 | +16.0% |
| Other operating charges | 640/8 | €2,781 | €3,505 | +€724 | +26.0% |
| Gross operating margin | 9900 | €168,089 | €172,626 | +€4,537 | +2.7% |
| Operating profit (loss) | 9901 | €61,769 | €57,501 | -€4,268 | -6.9% |
| Financial income | 75/76B | €193 | €68 | -€125 | -64.9% |
| Recurring financial income | 75 | €193 | €68 | -€125 | -64.9% |
| Financial charges | 65/66B | €9,942 | €11,582 | +€1,640 | +16.5% |
| Recurring financial charges | 65 | €9,942 | €11,582 | +€1,640 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €52,020 | €45,986 | -€6,034 | -11.6% |
| Income taxes | 67/77 | €12,655 | €9,197 | -€3,458 | -27.3% |
| Profit (loss) for the period | 9904 | €39,365 | €36,789 | -€2,576 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,365 | €36,789 | -€2,576 | -6.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.