VAN DEN HEEDE: 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 DEN HEEDE
Largest movements
- Tangible fixed assets -€9,723
down €9,723 (-24.5%), from €39,757 to €30,034
of which Furniture and vehicles: -€8,122
- Receivables within one year +€3,959
up €3,959 (+9.6%), from €41,213 to €45,173
of which Other amounts receivable: +€4,831
- Deferred charges and accrued income -€3,878
down €3,878 (-33.0%), from €11,766 to €7,888
- Cash -€2,768
down €2,768 (-24.5%), from €11,317 to €8,549
mainly Trade debts (-€23,760) and Investment in fixed assets (net) (-€5,123)
- Trade debts -€23,760
down €23,760 (-24.2%), from €98,153 to €74,393
- Tax, wage and social debts +€9,544
up €9,544 (+39.8%), from €23,960 to €33,504
of which Remuneration and social security: +€8,327
- Profit (loss) carried forward +€3,773
up €3,773 (+4.8%), from -€77,951 to -€74,178
- Short-term financial debts -€1,961
down €1,961 (-27.3%), from €7,176 to €5,216
- Staff costs -€24,796
down €24,796 (-10.5%), from €235,627 to €210,831
- Gross operating margin -€7,505
down €7,505 (-3.0%), from €253,250 to €245,745
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 | €115,047 | €102,642 | -€12,404 | -10.8% |
| Fixed assets | 21/28 | €40,251 | €30,533 | -€9,718 | -24.1% |
| Tangible fixed assets | 22/27 | €39,757 | €30,034 | -€9,723 | -24.5% |
| Land and buildings | 22 | €789 | €537 | -€252 | -32.0% |
| Plant, machinery and equipment | 23 | €9,614 | €8,641 | -€973 | -10.1% |
| Furniture and vehicles | 24 | €27,035 | €18,912 | -€8,122 | -30.0% |
| Other tangible fixed assets | 26 | €2,319 | €1,944 | -€376 | -16.2% |
| Financial fixed assets | 28 | €494 | €499 | +€5 | +1.0% |
| Current assets | 29/58 | €74,796 | €72,110 | -€2,686 | -3.6% |
| Stocks and contracts in progress | 3 | €10,500 | €10,500 | = | 0.0% |
| Stocks | 30/36 | €10,500 | €10,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,213 | €45,173 | +€3,959 | +9.6% |
| Trade receivables | 40 | €9,668 | €8,796 | -€872 | -9.0% |
| Other amounts receivable | 41 | €31,545 | €36,376 | +€4,831 | +15.3% |
| Cash at bank and in hand | 54/58 | €11,317 | €8,549 | -€2,768 | -24.5% |
| Deferred charges and accrued income | 490/1 | €11,766 | €7,888 | -€3,878 | -33.0% |
| Total equity and liabilities | 10/49 | €115,047 | €102,642 | -€12,404 | -10.8% |
| Equity | 10/15 | -€14,243 | -€10,470 | +€3,773 | +26.5% |
| Contributions | 10/11 | €63,708 | €63,708 | = | 0.0% |
| Capital | 10 | €63,708 | €63,708 | = | 0.0% |
| Issued capital | 100 | €63,708 | €63,708 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,951 | -€74,178 | +€3,773 | +4.8% |
| Amounts payable | 17/49 | €129,290 | €113,112 | -€16,177 | -12.5% |
| Amounts payable within one year | 42/48 | €129,290 | €113,112 | -€16,177 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €7,176 | €5,216 | -€1,961 | -27.3% |
| Credit institutions | 430/8 | €7,176 | €5,216 | -€1,961 | -27.3% |
| Trade debts | 44 | €98,153 | €74,393 | -€23,760 | -24.2% |
| Suppliers | 440/4 | €98,153 | €74,393 | -€23,760 | -24.2% |
| Taxes, remuneration and social security | 45 | €23,960 | €33,504 | +€9,544 | +39.8% |
| Taxes | 450/3 | €3,074 | €4,291 | +€1,217 | +39.6% |
| Remuneration and social security | 454/9 | €20,886 | €29,213 | +€8,327 | +39.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €235,627 | €210,831 | -€24,796 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,269 | €14,842 | +€572 | +4.0% |
| Other operating charges | 640/8 | €5,776 | €5,312 | -€464 | -8.0% |
| Non-recurring operating charges | 66A | - | €2,757 | +€2,757 | |
| Gross operating margin | 9900 | €253,250 | €245,745 | -€7,505 | -3.0% |
| Operating profit (loss) | 9901 | -€2,422 | €12,004 | +€14,426 | |
| Financial income | 75/76B | €930 | €1,578 | +€649 | +69.8% |
| Recurring financial income | 75 | €930 | €1,578 | +€649 | +69.8% |
| Financial charges | 65/66B | €7,812 | €8,070 | +€258 | +3.3% |
| Recurring financial charges | 65 | €7,812 | €8,070 | +€258 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,305 | €5,512 | +€14,816 | |
| Income taxes | 67/77 | €343 | €1,739 | +€1,396 | +407% |
| Profit (loss) for the period | 9904 | -€9,648 | €3,773 | +€13,421 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,648 | €3,773 | +€13,421 |
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 20 October 2026 via checked.be.