VAN HAUWAERT: 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 HAUWAERT
Largest movements
- Stocks and contracts +€22,047
up €22,047 (+7.2%), from €308,146 to €330,193
of which Contracts in progress: +€23,488
- Tangible fixed assets -€11,413
down €11,413 (-24.3%), from €46,942 to €35,529
of which Furniture and vehicles: -€7,464
- Receivables within one year -€11,162
down €11,162 (-36.0%), from €30,985 to €19,823
of which Trade receivables: -€11,383
- Cash +€9,440
up €9,440 (+98.6%), from €9,577 to €19,017
mainly Short-term financial debts (+€11,500) and Depreciation (+€11,413)
- Debts after one year -€11,621
down €11,621 (-40.9%), from €28,391 to €16,770
- Short-term financial debts +€11,500
up €11,500 (+11.2%), from €102,913 to €114,413
- Reserves +€10,537
up €10,537 (+7.1%), from €148,386 to €158,923
of which Distributable reserves: +€10,537
- Trade debts +€10,193
up €10,193 (+42.6%), from €23,923 to €34,115
- Current portion of long-term debt -€8,300
down €8,300 (-38.9%), from €21,351 to €13,051
- Gross operating margin +€6,277
up €6,277 (+13.0%), from €48,275 to €54,552
- Financial income -€4,349
down €4,349 (-60.2%), from €7,228 to €2,879
- Staff costs +€2,812
up €2,812 (+20.2%), from €13,893 to €16,704
- Financial charges -€2,716
down €2,716 (-20.8%), from €13,056 to €10,340
- Taxes +€2,329
up €2,329 (+53.3%), from €4,369 to €6,698
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 | €397,382 | €406,379 | +€8,996 | +2.3% |
| Fixed assets | 21/28 | €46,942 | €35,529 | -€11,413 | -24.3% |
| Tangible fixed assets | 22/27 | €46,942 | €35,529 | -€11,413 | -24.3% |
| Plant, machinery and equipment | 23 | €3,712 | €2,498 | -€1,214 | -32.7% |
| Furniture and vehicles | 24 | €29,782 | €22,318 | -€7,464 | -25.1% |
| Other tangible fixed assets | 26 | €13,447 | €10,712 | -€2,735 | -20.3% |
| Current assets | 29/58 | €350,441 | €370,849 | +€20,409 | +5.8% |
| Stocks and contracts in progress | 3 | €308,146 | €330,193 | +€22,047 | +7.2% |
| Stocks | 30/36 | €49,518 | €48,078 | -€1,440 | -2.9% |
| Contracts in progress | 37 | €258,627 | €282,115 | +€23,488 | +9.1% |
| Amounts receivable within one year | 40/41 | €30,985 | €19,823 | -€11,162 | -36.0% |
| Trade receivables | 40 | €23,998 | €12,615 | -€11,383 | -47.4% |
| Other amounts receivable | 41 | €6,987 | €7,208 | +€221 | +3.2% |
| Cash at bank and in hand | 54/58 | €9,577 | €19,017 | +€9,440 | +98.6% |
| Deferred charges and accrued income | 490/1 | €1,732 | €1,816 | +€84 | +4.8% |
| Total equity and liabilities | 10/49 | €397,382 | €406,379 | +€8,996 | +2.3% |
| Equity | 10/15 | €205,486 | €216,023 | +€10,537 | +5.1% |
| Contributions | 10/11 | €57,100 | €57,100 | = | 0.0% |
| Reserves | 13 | €148,386 | €158,923 | +€10,537 | +7.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €148,386 | €158,923 | +€10,537 | +7.1% |
| Amounts payable | 17/49 | €191,896 | €190,355 | -€1,541 | -0.8% |
| Amounts payable after more than one year | 17 | €28,391 | €16,770 | -€11,621 | -40.9% |
| Financial debts | 170/4 | €28,391 | €16,770 | -€11,621 | -40.9% |
| Amounts payable within one year | 42/48 | €163,505 | €173,586 | +€10,081 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €21,351 | €13,051 | -€8,300 | -38.9% |
| Financial debts | 43 | €102,913 | €114,413 | +€11,500 | +11.2% |
| Credit institutions | 430/8 | €102,913 | €114,413 | +€11,500 | +11.2% |
| Trade debts | 44 | €23,923 | €34,115 | +€10,193 | +42.6% |
| Suppliers | 440/4 | €23,923 | €34,115 | +€10,193 | +42.6% |
| Advances received on contracts in progress | 46 | €150 | €265 | +€115 | +76.6% |
| Taxes, remuneration and social security | 45 | €10,041 | €10,853 | +€813 | +8.1% |
| Taxes | 450/3 | €9,659 | €10,142 | +€482 | +5.0% |
| Remuneration and social security | 454/9 | €381 | €712 | +€330 | +86.7% |
| Other amounts payable | 47/48 | €5,128 | €888 | -€4,240 | -82.7% |
| Non-recurring operating income | 76A | €2,715 | €0 | -€2,715 | -100% |
| Remuneration, social security and pensions | 62 | €13,893 | €16,704 | +€2,812 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,724 | €11,413 | +€689 | +6.4% |
| Other operating charges | 640/8 | €1,597 | €1,739 | +€142 | +8.9% |
| Non-recurring operating charges | 66A | €322 | €0 | -€322 | -100% |
| Gross operating margin | 9900 | €48,275 | €54,552 | +€6,277 | +13.0% |
| Operating profit (loss) | 9901 | €21,739 | €24,696 | +€2,957 | +13.6% |
| Financial income | 75/76B | €7,228 | €2,879 | -€4,349 | -60.2% |
| Recurring financial income | 75 | €7,228 | €2,879 | -€4,349 | -60.2% |
| Financial charges | 65/66B | €13,056 | €10,340 | -€2,716 | -20.8% |
| Recurring financial charges | 65 | €13,056 | €10,340 | -€2,716 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €15,912 | €17,235 | +€1,323 | +8.3% |
| Income taxes | 67/77 | €4,369 | €6,698 | +€2,329 | +53.3% |
| Profit (loss) for the period | 9904 | €11,543 | €10,537 | -€1,006 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,543 | €10,537 | -€1,006 | -8.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.