JOHAN VANHAELEN: 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.
JOHAN VANHAELEN
Largest movements
- Tangible fixed assets +€16,825
up €16,825 (+67.3%), from €25,001 to €41,827
of which Furniture and vehicles: +€17,636
- Cash +€14,525
up €14,525 (+45.9%), from €31,670 to €46,195
mainly Debts after one year (+€10,756) and Depreciation (+€9,789)
- Receivables within one year -€9,745
down €9,745 (-33.0%), from €29,539 to €19,794
of which Trade receivables: -€18,148
- Debts after one year +€10,756
up €10,756, from €0 to €10,756
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Reserves +€5,266
up €5,266 (+11.0%), from €47,752 to €53,018
of which Distributable reserves: +€5,266
- Trade debts -€2,127
down €2,127 (-46.9%), from €4,534 to €2,407
- Current portion of long-term debt +€1,779
up €1,779 (+44.0%), from €4,044 to €5,823
- Depreciation -€2,402
down €2,402 (-19.7%), from €12,192 to €9,789
- Gross operating margin -€1,260
down €1,260 (-6.0%), from €20,965 to €19,704
- Taxes -€602
down €602 (-15.2%), from €3,959 to €3,357
- Financial charges +€377
up €377 (+240%), from €157 to €534
- Financial income +€311
up €311 (+46.2%), from €674 to €986
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 | €87,201 | €108,885 | +€21,685 | +24.9% |
| Fixed assets | 21/28 | €25,001 | €41,827 | +€16,825 | +67.3% |
| Tangible fixed assets | 22/27 | €25,001 | €41,827 | +€16,825 | +67.3% |
| Plant, machinery and equipment | 23 | €1,756 | €945 | -€810 | -46.2% |
| Furniture and vehicles | 24 | €23,246 | €40,881 | +€17,636 | +75.9% |
| Current assets | 29/58 | €62,199 | €67,059 | +€4,859 | +7.8% |
| Amounts receivable within one year | 40/41 | €29,539 | €19,794 | -€9,745 | -33.0% |
| Trade receivables | 40 | €27,393 | €9,245 | -€18,148 | -66.3% |
| Other amounts receivable | 41 | €2,145 | €10,549 | +€8,403 | +392% |
| Cash at bank and in hand | 54/58 | €31,670 | €46,195 | +€14,525 | +45.9% |
| Deferred charges and accrued income | 490/1 | €990 | €1,069 | +€79 | +8.0% |
| Total equity and liabilities | 10/49 | €87,201 | €108,885 | +€21,685 | +24.9% |
| Equity | 10/15 | €76,731 | €88,197 | +€11,466 | +14.9% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €47,752 | €53,018 | +€5,266 | +11.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,892 | €51,158 | +€5,266 | +11.5% |
| Profit (loss) carried forward | 14 | €16,579 | €16,579 | = | 0.0% |
| Amounts payable | 17/49 | €10,470 | €20,689 | +€10,219 | +97.6% |
| Amounts payable after more than one year | 17 | €0 | €10,756 | +€10,756 | |
| Financial debts | 170/4 | €0 | €10,756 | +€10,756 | |
| Amounts payable within one year | 42/48 | €10,470 | €9,932 | -€538 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €4,044 | €5,823 | +€1,779 | +44.0% |
| Trade debts | 44 | €4,534 | €2,407 | -€2,127 | -46.9% |
| Suppliers | 440/4 | €4,534 | €2,407 | -€2,127 | -46.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €405 | €431 | +€26 | +6.4% |
| Taxes | 450/3 | €405 | €431 | +€26 | +6.4% |
| Other amounts payable | 47/48 | €1,487 | €1,272 | -€216 | -14.5% |
| Non-recurring operating income | 76A | - | €1,556 | +€1,556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,192 | €9,789 | -€2,402 | -19.7% |
| Other operating charges | 640/8 | €1,453 | €1,743 | +€290 | +19.9% |
| Gross operating margin | 9900 | €20,965 | €19,704 | -€1,260 | -6.0% |
| Operating profit (loss) | 9901 | €7,320 | €8,172 | +€852 | +11.6% |
| Financial income | 75/76B | €674 | €986 | +€311 | +46.2% |
| Recurring financial income | 75 | €674 | €986 | +€311 | +46.2% |
| Financial charges | 65/66B | €157 | €534 | +€377 | +240% |
| Recurring financial charges | 65 | €157 | €534 | +€377 | +240% |
| Profit (loss) for the period before taxes | 9903 | €7,837 | €8,623 | +€786 | +10.0% |
| Income taxes | 67/77 | €3,959 | €3,357 | -€602 | -15.2% |
| Profit (loss) for the period | 9904 | €3,878 | €5,266 | +€1,388 | +35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,878 | €5,266 | +€1,388 | +35.8% |
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 23 October 2026 via checked.be.