van den Heuvel: what changed
van den Heuvel
Largest movements
- Cash -€23,513
down €23,513 (-27.0%), from €87,115 to €63,603
mainly Contributions, distributions and other (-€125,097) and Debts after one year (-€17,555)
- Receivables within one year -€22,439
down €22,439 (-97.1%), from €23,103 to €664
- Tangible fixed assets -€8,857
down €8,857 (-29.2%), from €30,312 to €21,454
of which Leasing and similar rights: -€30,312
- Reserves -€73,449
down €73,449 (-100%), from €73,449 to €0
- Other debts +€37,900
up €37,900 (+215%), from €17,616 to €55,516
- Debts after one year -€17,555
down €17,555 (-100%), from €17,555 to €0
- Current portion of long-term debt -€9,545
down €9,545 (-100%), from €9,545 to €0
- Tax, wage and social debts +€6,170
up €6,170 (+28.8%), from €21,414 to €27,584
of which Taxes: +€6,170
- Gross operating margin +€7,442
up €7,442 (+10.1%), from €73,501 to €80,943
- Other operating charges +€2,528
up €2,528 (+181%), from €1,399 to €3,928
- Financial charges -€1,875
down €1,875 (-67.8%), from €2,764 to €889
- Taxes +€1,421
up €1,421 (+11.9%), from €11,910 to €13,331
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,718 | €88,176 | -€54,542 | -38.2% |
| Fixed assets | 21/28 | €30,312 | €21,454 | -€8,857 | -29.2% |
| Tangible fixed assets | 22/27 | €30,312 | €21,454 | -€8,857 | -29.2% |
| Furniture and vehicles | 24 | - | €21,454 | +€21,454 | |
| Leasing and similar rights | 25 | €30,312 | €0 | -€30,312 | -100% |
| Current assets | 29/58 | €112,406 | €66,721 | -€45,685 | -40.6% |
| Amounts receivable within one year | 40/41 | €23,103 | €664 | -€22,439 | -97.1% |
| Trade receivables | 40 | €23,103 | €664 | -€22,439 | -97.1% |
| Cash at bank and in hand | 54/58 | €87,115 | €63,603 | -€23,513 | -27.0% |
| Deferred charges and accrued income | 490/1 | €2,188 | €2,455 | +€267 | +12.2% |
| Total equity and liabilities | 10/49 | €142,718 | €88,176 | -€54,542 | -38.2% |
| Equity | 10/15 | €75,449 | €2,000 | -€73,449 | -97.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €73,449 | €0 | -€73,449 | -100% |
| Distributable reserves | 133 | €73,449 | €0 | -€73,449 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €67,268 | €86,176 | +€18,907 | +28.1% |
| Amounts payable after more than one year | 17 | €17,555 | €0 | -€17,555 | -100% |
| Financial debts | 170/4 | €17,555 | €0 | -€17,555 | -100% |
| Amounts payable within one year | 42/48 | €49,713 | €86,176 | +€36,462 | +73.3% |
| Current portion of amounts payable after more than one year | 42 | €9,545 | €0 | -€9,545 | -100% |
| Trade debts | 44 | €1,138 | €3,076 | +€1,937 | +170% |
| Suppliers | 440/4 | €1,138 | €3,076 | +€1,937 | +170% |
| Taxes, remuneration and social security | 45 | €21,414 | €27,584 | +€6,170 | +28.8% |
| Taxes | 450/3 | €19,914 | €26,084 | +€6,170 | +31.0% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €17,616 | €55,516 | +€37,900 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,998 | €11,148 | +€151 | +1.4% |
| Other operating charges | 640/8 | €1,399 | €3,928 | +€2,528 | +181% |
| Gross operating margin | 9900 | €73,501 | €80,943 | +€7,442 | +10.1% |
| Operating profit (loss) | 9901 | €61,104 | €65,867 | +€4,764 | +7.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,764 | €889 | -€1,875 | -67.8% |
| Recurring financial charges | 65 | €2,764 | €889 | -€1,875 | -67.8% |
| Profit (loss) for the period before taxes | 9903 | €58,339 | €64,978 | +€6,639 | +11.4% |
| Income taxes | 67/77 | €11,910 | €13,331 | +€1,421 | +11.9% |
| Profit (loss) for the period | 9904 | €46,429 | €51,647 | +€5,218 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,429 | €51,647 | +€5,218 | +11.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.