Jan Vanhaecht: 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.
Jan Vanhaecht
Largest movements
- Receivables after one year +€89,500
up €89,500 (+19.7%), from €454,500 to €544,000
- Cash +€33,330
up €33,330 (+14.2%), from €234,310 to €267,640
mainly Net result for the year (+€241,049) and Other debts (+€91,164)
- Tangible fixed assets -€24,995
down €24,995 (-34.8%), from €71,824 to €46,829
of which Furniture and vehicles: -€19,642
- Other debts +€91,164
up €91,164 (+18.9%), from €481,139 to €572,303
- Gross operating margin +€92,397
up €92,397 (+30.6%), from €301,488 to €393,885
- Taxes +€22,561
up €22,561 (+41.9%), from €53,856 to €76,417
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 | €785,056 | €878,533 | +€93,477 | +11.9% |
| Fixed assets | 21/28 | €71,824 | €46,829 | -€24,995 | -34.8% |
| Tangible fixed assets | 22/27 | €71,824 | €46,829 | -€24,995 | -34.8% |
| Plant, machinery and equipment | 23 | €30,859 | €25,506 | -€5,353 | -17.3% |
| Furniture and vehicles | 24 | €40,965 | €21,323 | -€19,642 | -47.9% |
| Current assets | 29/58 | €713,232 | €831,704 | +€118,472 | +16.6% |
| Amounts receivable after more than one year | 29 | €454,500 | €544,000 | +€89,500 | +19.7% |
| Other amounts receivable | 291 | €454,500 | €544,000 | +€89,500 | +19.7% |
| Amounts receivable within one year | 40/41 | €12,017 | €4,982 | -€7,035 | -58.5% |
| Trade receivables | 40 | - | €1,282 | +€1,282 | |
| Other amounts receivable | 41 | €12,017 | €3,700 | -€8,317 | -69.2% |
| Cash at bank and in hand | 54/58 | €234,310 | €267,640 | +€33,330 | +14.2% |
| Deferred charges and accrued income | 490/1 | €12,405 | €15,082 | +€2,677 | +21.6% |
| Total equity and liabilities | 10/49 | €785,056 | €878,533 | +€93,477 | +11.9% |
| Equity | 10/15 | €278,698 | €278,698 | = | 0.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €248,698 | €248,698 | = | 0.0% |
| Distributable reserves | 133 | €248,698 | €248,698 | = | 0.0% |
| Amounts payable | 17/49 | €506,358 | €599,835 | +€93,477 | +18.5% |
| Amounts payable within one year | 42/48 | €491,007 | €583,306 | +€92,299 | +18.8% |
| Trade debts | 44 | €6,568 | €5,566 | -€1,002 | -15.3% |
| Suppliers | 440/4 | €6,568 | €5,566 | -€1,002 | -15.3% |
| Taxes, remuneration and social security | 45 | €3,300 | €5,437 | +€2,137 | +64.8% |
| Remuneration and social security | 454/9 | €3,300 | €5,437 | +€2,137 | +64.8% |
| Other amounts payable | 47/48 | €481,139 | €572,303 | +€91,164 | +18.9% |
| Accrued charges and deferred income | 492/3 | €15,351 | €16,529 | +€1,178 | +7.7% |
| Remuneration, social security and pensions | 62 | €41,108 | €40,362 | -€746 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,422 | €28,635 | -€787 | -2.7% |
| Other operating charges | 640/8 | €881 | €834 | -€47 | -5.3% |
| Non-recurring operating charges | 66A | - | €227 | +€227 | |
| Gross operating margin | 9900 | €301,488 | €393,885 | +€92,397 | +30.6% |
| Operating profit (loss) | 9901 | €230,077 | €323,827 | +€93,750 | +40.7% |
| Financial income | 75/76B | €11,782 | €12,673 | +€891 | +7.6% |
| Recurring financial income | 75 | €11,782 | €12,673 | +€891 | +7.6% |
| Financial charges | 65/66B | €16,183 | €19,034 | +€2,851 | +17.6% |
| Recurring financial charges | 65 | €16,183 | €19,034 | +€2,851 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €225,676 | €317,466 | +€91,790 | +40.7% |
| Income taxes | 67/77 | €53,856 | €76,417 | +€22,561 | +41.9% |
| Profit (loss) for the period | 9904 | €171,820 | €241,049 | +€69,229 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €171,820 | €241,049 | +€69,229 | +40.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.