Van Handenhoven: 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 Handenhoven
Largest movements
- Receivables within one year -€87,175
down €87,175 (-39.6%), from €220,220 to €133,046
of which Trade receivables: -€88,055
- Cash +€68,959
up €68,959 (+362%), from €19,030 to €87,989
mainly Receivables within one year (+€87,175) and Depreciation (+€79,365)
- Tangible fixed assets -€31,089
down €31,089 (-26.7%), from €116,265 to €85,176
of which Furniture and vehicles: -€30,696
- Trade debts -€40,561
down €40,561 (-53.2%), from €76,287 to €35,726
- Current portion of long-term debt -€34,905
down €34,905 (-96.5%), from €36,166 to €1,261
- Reserves +€17,388
up €17,388 (+7.4%), from €234,406 to €251,794
- Tax, wage and social debts +€8,680
up €8,680 (+81.4%), from €10,660 to €19,340
of which Remuneration and social security: +€16,484
- Gross operating margin -€76,151
down €76,151 (-36.2%), from €210,235 to €134,084
- Taxes -€27,353
down €27,353 (-72.3%), from €37,809 to €10,455
- Depreciation +€17,079
up €17,079 (+27.4%), from €62,286 to €79,365
- Staff costs +€16,827
new in 2025: €16,827
- Other operating charges +€4,122
up €4,122 (+65.8%), from €6,262 to €10,384
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 | €358,186 | €308,286 | -€49,900 | -13.9% |
| Fixed assets | 21/28 | €116,305 | €85,216 | -€31,089 | -26.7% |
| Tangible fixed assets | 22/27 | €116,265 | €85,176 | -€31,089 | -26.7% |
| Plant, machinery and equipment | 23 | €1,420 | €1,027 | -€393 | -27.7% |
| Furniture and vehicles | 24 | €114,845 | €84,149 | -€30,696 | -26.7% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €241,881 | €223,070 | -€18,811 | -7.8% |
| Amounts receivable within one year | 40/41 | €220,220 | €133,046 | -€87,175 | -39.6% |
| Trade receivables | 40 | €159,498 | €71,443 | -€88,055 | -55.2% |
| Other amounts receivable | 41 | €60,723 | €61,603 | +€880 | +1.4% |
| Current investments | 50/53 | €9 | €9 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,030 | €87,989 | +€68,959 | +362% |
| Deferred charges and accrued income | 490/1 | €2,620 | €2,025 | -€595 | -22.7% |
| Total equity and liabilities | 10/49 | €358,186 | €308,286 | -€49,900 | -13.9% |
| Equity | 10/15 | €234,571 | €251,959 | +€17,388 | +7.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €234,406 | €251,794 | +€17,388 | +7.4% |
| Distributable reserves | 133 | €234,406 | €251,794 | +€17,388 | +7.4% |
| Profit (loss) carried forward | 14 | €65 | €65 | = | 0.0% |
| Amounts payable | 17/49 | €123,615 | €56,327 | -€67,288 | -54.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €123,165 | €56,327 | -€66,838 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €36,166 | €1,261 | -€34,905 | -96.5% |
| Financial debts | 43 | €52 | €0 | -€52 | -100% |
| Credit institutions | 430/8 | €52 | €0 | -€52 | -100% |
| Trade debts | 44 | €76,287 | €35,726 | -€40,561 | -53.2% |
| Suppliers | 440/4 | €76,287 | €35,726 | -€40,561 | -53.2% |
| Taxes, remuneration and social security | 45 | €10,660 | €19,340 | +€8,680 | +81.4% |
| Taxes | 450/3 | €7,805 | €0 | -€7,805 | -100% |
| Remuneration and social security | 454/9 | €2,856 | €19,340 | +€16,484 | +577% |
| Accrued charges and deferred income | 492/3 | €450 | €0 | -€450 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €16,827 | +€16,827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,286 | €79,365 | +€17,079 | +27.4% |
| Other operating charges | 640/8 | €6,262 | €10,384 | +€4,122 | +65.8% |
| Non-recurring operating charges | 66A | €10,169 | €0 | -€10,169 | -100% |
| Gross operating margin | 9900 | €210,235 | €134,084 | -€76,151 | -36.2% |
| Operating profit (loss) | 9901 | €131,517 | €27,508 | -€104,010 | -79.1% |
| Financial income | 75/76B | €22 | €1,501 | +€1,479 | +6,656% |
| Recurring financial income | 75 | €22 | €1 | -€21 | -94.3% |
| Non-recurring financial income | 76B | - | €1,500 | +€1,500 | |
| Financial charges | 65/66B | €2,495 | €1,165 | -€1,330 | -53.3% |
| Recurring financial charges | 65 | €2,495 | €1,165 | -€1,330 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €129,044 | €27,843 | -€101,201 | -78.4% |
| Income taxes | 67/77 | €37,809 | €10,455 | -€27,353 | -72.3% |
| Profit (loss) for the period | 9904 | €91,235 | €17,388 | -€73,847 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €91,235 | €17,388 | -€73,847 | -80.9% |
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 24 October 2026 via checked.be.