VAN HECK: what changed
Two fiscal 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 HECK
Largest movements
- Tangible fixed assets -€12,408
down €12,408 (-2.1%), from €602,387 to €589,979
of which Land and buildings: -€11,658
- Other debts +€20,000
up €20,000 (+34.9%), from €57,276 to €77,276
- Debts after one year -€17,249
down €17,249 (-6.2%), from €280,070 to €262,821
- Profit (loss) carried forward -€11,350
down €11,350 (-23.4%), from -€48,608 to -€59,958
- Gross operating margin -€1,429
down €1,429 (-14.3%), from €9,961 to €8,531
- Financial charges -€737
down €737 (-5.4%), from €13,640 to €12,903
- Other operating charges +€161
up €161 (+8.0%), from €2,006 to €2,167
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.
Cash bridge derived
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 | €612,955 | €598,344 | -€14,611 | -2.4% |
| Fixed assets | 21/28 | €602,387 | €589,979 | -€12,408 | -2.1% |
| Tangible fixed assets | 22/27 | €602,387 | €589,979 | -€12,408 | -2.1% |
| Land and buildings | 22 | €596,025 | €584,367 | -€11,658 | -2.0% |
| Furniture and vehicles | 24 | €6,362 | €5,612 | -€750 | -11.8% |
| Current assets | 29/58 | €10,569 | €8,366 | -€2,203 | -20.8% |
| Amounts receivable within one year | 40/41 | €97 | €724 | +€626 | +642.8% |
| Other amounts receivable | 41 | €97 | €724 | +€626 | +642.8% |
| Cash at bank and in hand | 54/58 | €10,471 | €7,642 | -€2,829 | -27.0% |
| Total equity and liabilities | 10/49 | €612,955 | €598,344 | -€14,611 | -2.4% |
| Equity | 10/15 | €198,867 | €181,822 | -€17,045 | -8.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €185,475 | €179,780 | -€5,694 | -3.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €179,275 | €173,580 | -€5,694 | -3.2% |
| Profit (loss) carried forward | 14 | -€48,608 | -€59,958 | -€11,350 | -23.4% |
| Provisions and deferred taxes | 16 | €59,758 | €57,860 | -€1,898 | -3.2% |
| Deferred taxes | 168 | €59,758 | €57,860 | -€1,898 | -3.2% |
| Amounts payable | 17/49 | €354,330 | €358,662 | +€4,332 | +1.2% |
| Amounts payable after more than one year | 17 | €280,070 | €262,821 | -€17,249 | -6.2% |
| Financial debts | 170/4 | €280,070 | €262,821 | -€17,249 | -6.2% |
| Amounts payable within one year | 42/48 | €74,260 | €95,842 | +€21,582 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €16,517 | €17,249 | +€733 | +4.4% |
| Trade debts | 44 | €468 | €1,316 | +€849 | +181.4% |
| Suppliers | 440/4 | €468 | €1,316 | +€849 | +181.4% |
| Other amounts payable | 47/48 | €57,276 | €77,276 | +€20,000 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,408 | €12,408 | = | 0.0% |
| Other operating charges | 640/8 | €2,006 | €2,167 | +€161 | +8.0% |
| Gross operating margin | 9900 | €9,961 | €8,531 | -€1,429 | -14.3% |
| Operating profit (loss) | 9901 | -€4,453 | -€6,044 | -€1,590 | -35.7% |
| Financial income | 75/76B | €4 | €5 | +€1 | +14.6% |
| Recurring financial income | 75 | €4 | €5 | +€1 | +14.6% |
| Financial charges | 65/66B | €13,640 | €12,903 | -€737 | -5.4% |
| Recurring financial charges | 65 | €13,640 | €12,903 | -€737 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,089 | -€18,942 | -€853 | -4.7% |
| Transfer from deferred taxes | 780 | €1,898 | €1,898 | = | 0.0% |
| Income taxes | 67/77 | €1 | €1 | +€0 | +15.2% |
| Profit (loss) for the period | 9904 | -€16,192 | -€17,045 | -€853 | -5.3% |
| Transfer from tax-exempt reserves | 789 | €5,694 | €5,694 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,497 | -€11,350 | -€853 | -8.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.