T. Vanheusden: 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.
T. Vanheusden
Largest movements
- Cash -€119,869
down €119,869 (-46.2%), from €259,420 to €139,552
mainly Receivables within one year (-€113,379) and Current investments (-€31,500)
- Receivables within one year +€113,379
up €113,379 (+673%), from €16,851 to €130,229
of which Other amounts receivable: +€101,175
- Current investments +€31,500
up €31,500 (+47.0%), from €67,019 to €98,519
- Reserves +€46,939
up €46,939 (+33.7%), from €139,087 to €186,026
- Tax, wage and social debts -€19,082
down €19,082 (-63.6%), from €29,988 to €10,906
- Trade debts -€6,325
down €6,325 (-66.4%), from €9,524 to €3,199
- Gross operating margin -€60,707
down €60,707 (-45.9%), from €132,199 to €71,492
- Taxes -€9,569
down €9,569 (-33.4%), from €28,675 to €19,106
- Depreciation +€2,904
up €2,904 (+506%), from €573 to €3,477
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 | €353,688 | €375,221 | +€21,532 | +6.1% |
| Fixed assets | 21/28 | €10,399 | €6,921 | -€3,477 | -33.4% |
| Tangible fixed assets | 22/27 | €10,399 | €6,921 | -€3,477 | -33.4% |
| Furniture and vehicles | 24 | €10,399 | €6,921 | -€3,477 | -33.4% |
| Current assets | 29/58 | €343,290 | €368,300 | +€25,010 | +7.3% |
| Amounts receivable within one year | 40/41 | €16,851 | €130,229 | +€113,379 | +673% |
| Trade receivables | 40 | €15,349 | €27,552 | +€12,204 | +79.5% |
| Other amounts receivable | 41 | €1,502 | €102,677 | +€101,175 | +6,736% |
| Current investments | 50/53 | €67,019 | €98,519 | +€31,500 | +47.0% |
| Cash at bank and in hand | 54/58 | €259,420 | €139,552 | -€119,869 | -46.2% |
| Total equity and liabilities | 10/49 | €353,688 | €375,221 | +€21,532 | +6.1% |
| Equity | 10/15 | €314,177 | €361,116 | +€46,939 | +14.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €139,087 | €186,026 | +€46,939 | +33.7% |
| Distributable reserves | 133 | €139,087 | €186,026 | +€46,939 | +33.7% |
| Profit (loss) carried forward | 14 | €170,090 | €170,090 | = | 0.0% |
| Amounts payable | 17/49 | €39,512 | €14,105 | -€25,407 | -64.3% |
| Amounts payable within one year | 42/48 | €39,512 | €14,105 | -€25,407 | -64.3% |
| Trade debts | 44 | €9,524 | €3,199 | -€6,325 | -66.4% |
| Suppliers | 440/4 | €9,524 | €3,199 | -€6,325 | -66.4% |
| Taxes, remuneration and social security | 45 | €29,988 | €10,906 | -€19,082 | -63.6% |
| Taxes | 450/3 | €29,988 | €10,906 | -€19,082 | -63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €3,477 | +€2,904 | +506% |
| Other operating charges | 640/8 | €387 | €525 | +€138 | +35.6% |
| Gross operating margin | 9900 | €132,199 | €71,492 | -€60,707 | -45.9% |
| Operating profit (loss) | 9901 | €131,238 | €67,489 | -€63,749 | -48.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,183 | €1,445 | -€739 | -33.8% |
| Recurring financial charges | 65 | €2,183 | €1,445 | -€739 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €129,055 | €66,045 | -€63,010 | -48.8% |
| Income taxes | 67/77 | €28,675 | €19,106 | -€9,569 | -33.4% |
| Profit (loss) for the period | 9904 | €100,380 | €46,939 | -€53,441 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €100,380 | €46,939 | -€53,441 | -53.2% |
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 22 October 2026 via checked.be.