Van de Heyning: 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.
Van de Heyning
Largest movements
- Stocks and contracts +€37,784
up €37,784 (+16.8%), from €225,048 to €262,832
- Cash +€32,892
up €32,892 (+74.6%), from €44,108 to €77,000
mainly Other debts (+€19,202) and Trade debts (+€16,011)
- Tangible fixed assets -€12,114
down €12,114 (-14.5%), from €83,585 to €71,471
of which Land and buildings: -€9,727
- Other debts +€19,202
up €19,202 (+10.3%), from €185,948 to €205,150
- Trade debts +€16,011
up €16,011 (+56.3%), from €28,444 to €44,455
- Reserves +€14,352
up €14,352 (+11.5%), from €125,201 to €139,553
- Tax, wage and social debts +€8,414
up €8,414 (+58.5%), from €14,378 to €22,791
of which Taxes: +€4,609
- Gross operating margin -€13,427
down €13,427 (-22.4%), from €60,054 to €46,627
- Staff costs +€6,291
up €6,291 (+204%), from €3,088 to €9,379
- Taxes -€6,017
down €6,017 (-42.3%), from €14,234 to €8,217
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 | €361,173 | €418,552 | +€57,379 | +15.9% |
| Fixed assets | 21/28 | €84,225 | €71,713 | -€12,512 | -14.9% |
| Intangible fixed assets | 21 | €640 | €242 | -€398 | -62.2% |
| Tangible fixed assets | 22/27 | €83,585 | €71,471 | -€12,114 | -14.5% |
| Land and buildings | 22 | €74,940 | €65,213 | -€9,727 | -13.0% |
| Plant, machinery and equipment | 23 | €8,646 | €6,258 | -€2,388 | -27.6% |
| Current assets | 29/58 | €276,948 | €346,839 | +€69,891 | +25.2% |
| Stocks and contracts in progress | 3 | €225,048 | €262,832 | +€37,784 | +16.8% |
| Stocks | 30/36 | €225,048 | €262,832 | +€37,784 | +16.8% |
| Amounts receivable within one year | 40/41 | €4,601 | €3,869 | -€731 | -15.9% |
| Trade receivables | 40 | €2,582 | €3,692 | +€1,110 | +43.0% |
| Other amounts receivable | 41 | €2,019 | €177 | -€1,842 | -91.2% |
| Cash at bank and in hand | 54/58 | €44,108 | €77,000 | +€32,892 | +74.6% |
| Deferred charges and accrued income | 490/1 | €3,192 | €3,138 | -€54 | -1.7% |
| Total equity and liabilities | 10/49 | €361,173 | €418,552 | +€57,379 | +15.9% |
| Equity | 10/15 | €131,401 | €145,753 | +€14,352 | +10.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €125,201 | €139,553 | +€14,352 | +11.5% |
| Distributable reserves | 133 | €125,201 | €139,553 | +€14,352 | +11.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €229,772 | €272,799 | +€43,027 | +18.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €229,772 | €272,799 | +€43,027 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €1,003 | €0 | -€1,003 | -100% |
| Financial debts | 43 | - | €253 | +€253 | |
| Credit institutions | 430/8 | - | €253 | +€253 | |
| Trade debts | 44 | €28,444 | €44,455 | +€16,011 | +56.3% |
| Suppliers | 440/4 | €28,444 | €44,455 | +€16,011 | +56.3% |
| Advances received on contracts in progress | 46 | - | €150 | +€150 | |
| Taxes, remuneration and social security | 45 | €14,378 | €22,791 | +€8,414 | +58.5% |
| Taxes | 450/3 | €14,378 | €18,987 | +€4,609 | +32.1% |
| Remuneration and social security | 454/9 | - | €3,805 | +€3,805 | |
| Other amounts payable | 47/48 | €185,948 | €205,150 | +€19,202 | +10.3% |
| Remuneration, social security and pensions | 62 | €3,088 | €9,379 | +€6,291 | +204% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,011 | €12,512 | +€501 | +4.2% |
| Other operating charges | 640/8 | €753 | €775 | +€22 | +2.9% |
| Gross operating margin | 9900 | €60,054 | €46,627 | -€13,427 | -22.4% |
| Operating profit (loss) | 9901 | €44,202 | €23,961 | -€20,241 | -45.8% |
| Financial income | 75/76B | €188 | €376 | +€188 | +99.7% |
| Recurring financial income | 75 | €188 | €376 | +€188 | +99.7% |
| Financial charges | 65/66B | €1,821 | €1,769 | -€52 | -2.8% |
| Recurring financial charges | 65 | €1,821 | €1,769 | -€52 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €42,570 | €22,568 | -€20,002 | -47.0% |
| Income taxes | 67/77 | €14,234 | €8,217 | -€6,017 | -42.3% |
| Profit (loss) for the period | 9904 | €28,336 | €14,352 | -€13,984 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,336 | €14,352 | -€13,984 | -49.4% |
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 15 October 2026 via checked.be.