JL VANDERHAEGHE: 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.
JL VANDERHAEGHE
Largest movements
- Tangible fixed assets -€3,011
down €3,011 (-38.5%), from €7,824 to €4,812
of which Land and buildings: -€2,300
- Receivables within one year -€2,105
down €2,105 (-18.3%), from €11,531 to €9,426
- Stocks and contracts -€1,573
down €1,573 (-6.3%), from €24,931 to €23,358
- Cash +€1,304
up €1,304 (+203%), from €643 to €1,948
mainly Net result for the year (+€6,151) and Depreciation (+€3,506)
- Trade debts -€8,031
down €8,031 (-37.2%), from €21,603 to €13,572
- Profit (loss) carried forward +€6,151
up €6,151 (+31.5%), from -€19,549 to -€13,398
- Tax, wage and social debts -€1,651
down €1,651 (-9.7%), from €17,050 to €15,399
of which Taxes: -€1,122
- Current portion of long-term debt -€1,255
down €1,255 (-24.9%), from €5,039 to €3,784
- Short-term financial debts -€599
down €599 (-21.9%), from €2,735 to €2,136
- Staff costs -€4,377
down €4,377 (-3.5%), from €124,413 to €120,036
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 | €45,428 | €40,043 | -€5,385 | -11.9% |
| Fixed assets | 21/28 | €8,324 | €5,312 | -€3,011 | -36.2% |
| Tangible fixed assets | 22/27 | €7,824 | €4,812 | -€3,011 | -38.5% |
| Land and buildings | 22 | €4,599 | €2,299 | -€2,300 | -50.0% |
| Plant, machinery and equipment | 23 | €1,359 | €1,239 | -€120 | -8.8% |
| Furniture and vehicles | 24 | €1,866 | €1,275 | -€591 | -31.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €37,105 | €34,731 | -€2,374 | -6.4% |
| Stocks and contracts in progress | 3 | €24,931 | €23,358 | -€1,573 | -6.3% |
| Stocks | 30/36 | €24,931 | €23,358 | -€1,573 | -6.3% |
| Amounts receivable within one year | 40/41 | €11,531 | €9,426 | -€2,105 | -18.3% |
| Other amounts receivable | 41 | €11,531 | €9,426 | -€2,105 | -18.3% |
| Cash at bank and in hand | 54/58 | €643 | €1,948 | +€1,304 | +203% |
| Total equity and liabilities | 10/49 | €45,428 | €40,043 | -€5,385 | -11.9% |
| Equity | 10/15 | -€999 | €5,153 | +€6,151 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,549 | -€13,398 | +€6,151 | +31.5% |
| Amounts payable | 17/49 | €46,427 | €34,891 | -€11,536 | -24.8% |
| Amounts payable within one year | 42/48 | €46,427 | €34,891 | -€11,536 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €5,039 | €3,784 | -€1,255 | -24.9% |
| Financial debts | 43 | €2,735 | €2,136 | -€599 | -21.9% |
| Credit institutions | 430/8 | €2,735 | €2,136 | -€599 | -21.9% |
| Trade debts | 44 | €21,603 | €13,572 | -€8,031 | -37.2% |
| Suppliers | 440/4 | €21,603 | €13,572 | -€8,031 | -37.2% |
| Taxes, remuneration and social security | 45 | €17,050 | €15,399 | -€1,651 | -9.7% |
| Taxes | 450/3 | €8,049 | €6,927 | -€1,122 | -13.9% |
| Remuneration and social security | 454/9 | €9,002 | €8,472 | -€530 | -5.9% |
| Remuneration, social security and pensions | 62 | €124,413 | €120,036 | -€4,377 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,345 | €3,506 | -€838 | -19.3% |
| Other operating charges | 640/8 | €2,056 | €1,961 | -€95 | -4.6% |
| Gross operating margin | 9900 | €134,795 | €135,553 | +€758 | +0.6% |
| Operating profit (loss) | 9901 | €3,981 | €10,049 | +€6,068 | +152% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,909 | €2,742 | +€833 | +43.6% |
| Recurring financial charges | 65 | €1,909 | €2,742 | +€833 | +43.6% |
| Profit (loss) for the period before taxes | 9903 | €2,076 | €7,307 | +€5,231 | +252% |
| Income taxes | 67/77 | €225 | €1,156 | +€930 | +413% |
| Profit (loss) for the period | 9904 | €1,851 | €6,151 | +€4,300 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €1,851 | €6,151 | +€4,300 | +232% |
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 29 October 2026 via checked.be.