Kris Vanhoutte: 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.
Kris Vanhoutte
Largest movements
- Receivables within one year -€23,836
down €23,836 (-29.4%), from €81,197 to €57,361
of which Trade receivables: -€21,989
- Tangible fixed assets +€21,060
up €21,060 (+13.0%), from €162,533 to €183,593
of which Land and buildings: +€24,620
- Cash -€8,755
down €8,755 (-43.3%), from €20,199 to €11,444
mainly Investment in fixed assets (net) (-€34,570) and Tax, wage and social debts (-€4,654)
- Tax, wage and social debts -€4,654
down €4,654 (-35.3%), from €13,195 to €8,541
of which Taxes: -€4,654
- Debts after one year -€3,013
down €3,013 (-1.9%), from €160,130 to €157,117
- Profit (loss) carried forward -€2,699
down €2,699 (-18.6%), from €14,543 to €11,844
- Gross operating margin -€18,909
down €18,909 (-36.3%), from €52,133 to €33,223
- Depreciation -€15,747
down €15,747 (-53.8%), from €29,256 to €13,509
- Financial charges +€1,599
up €1,599 (+11.5%), from €13,913 to €15,513
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 | €267,543 | €255,300 | -€12,243 | -4.6% |
| Fixed assets | 21/28 | €162,533 | €183,593 | +€21,060 | +13.0% |
| Tangible fixed assets | 22/27 | €162,533 | €183,593 | +€21,060 | +13.0% |
| Land and buildings | 22 | €138,233 | €162,854 | +€24,620 | +17.8% |
| Plant, machinery and equipment | 23 | €22,499 | €12,293 | -€10,206 | -45.4% |
| Furniture and vehicles | 24 | €1,800 | €8,447 | +€6,647 | +369% |
| Current assets | 29/58 | €105,010 | €71,707 | -€33,303 | -31.7% |
| Amounts receivable within one year | 40/41 | €81,197 | €57,361 | -€23,836 | -29.4% |
| Trade receivables | 40 | €75,860 | €53,871 | -€21,989 | -29.0% |
| Other amounts receivable | 41 | €5,337 | €3,490 | -€1,847 | -34.6% |
| Cash at bank and in hand | 54/58 | €20,199 | €11,444 | -€8,755 | -43.3% |
| Deferred charges and accrued income | 490/1 | €3,615 | €2,902 | -€712 | -19.7% |
| Total equity and liabilities | 10/49 | €267,543 | €255,300 | -€12,243 | -4.6% |
| Equity | 10/15 | €35,003 | €32,304 | -€2,699 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,543 | €11,844 | -€2,699 | -18.6% |
| Amounts payable | 17/49 | €232,540 | €222,996 | -€9,543 | -4.1% |
| Amounts payable after more than one year | 17 | €160,130 | €157,117 | -€3,013 | -1.9% |
| Financial debts | 170/4 | €160,130 | €157,117 | -€3,013 | -1.9% |
| Amounts payable within one year | 42/48 | €72,409 | €65,879 | -€6,531 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €26,749 | €24,630 | -€2,119 | -7.9% |
| Trade debts | 44 | €30,632 | €30,874 | +€242 | +0.8% |
| Suppliers | 440/4 | €30,632 | €30,874 | +€242 | +0.8% |
| Taxes, remuneration and social security | 45 | €13,195 | €8,541 | -€4,654 | -35.3% |
| Taxes | 450/3 | €12,195 | €7,541 | -€4,654 | -38.2% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,833 | €1,833 | = | 0.0% |
| Non-recurring operating income | 76A | €4,250 | - | -€4,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,256 | €13,509 | -€15,747 | -53.8% |
| Other operating charges | 640/8 | €3,766 | €3,688 | -€78 | -2.1% |
| Gross operating margin | 9900 | €52,133 | €33,223 | -€18,909 | -36.3% |
| Operating profit (loss) | 9901 | €19,110 | €16,026 | -€3,084 | -16.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -72.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -72.6% |
| Financial charges | 65/66B | €13,913 | €15,513 | +€1,599 | +11.5% |
| Recurring financial charges | 65 | €13,913 | €15,513 | +€1,599 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €5,197 | €514 | -€4,684 | -90.1% |
| Income taxes | 67/77 | €2,776 | €3,213 | +€436 | +15.7% |
| Profit (loss) for the period | 9904 | €2,421 | -€2,699 | -€5,120 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,421 | -€2,699 | -€5,120 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.