VAN HEE INVEST: 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 HEE INVEST
Largest movements
- Tangible fixed assets -€488,824
down €488,824 (-22.5%), from €2.2m to €1.7m
of which Land and buildings: -€469,739
- Current investments +€135,034
up €135,034 (+662,583%), from €20 to €135,055
- Receivables within one year +€100,327
new in 2025: €100,327
of which Other amounts receivable: +€100,000
- Other debts -€345,430
down €345,430 (-55.2%), from €625,507 to €280,077
- Reserves +€309,457
up €309,457 (+55.4%), from €558,169 to €867,626
of which Distributable reserves: +€322,833
- Debts after one year -€140,109
down €140,109 (-27.1%), from €516,730 to €376,621
- Current portion of long-term debt -€99,751
down €99,751 (-83.8%), from €119,056 to €19,304
- Tax, wage and social debts +€35,464
up €35,464 (+233%), from €15,195 to €50,659
- Financial income +€422,927
up €422,927 (+314%), from €134,821 to €557,748
of which Non-recurring financial income: +€422,892
- Taxes +€135,306
up €135,306 (+2,465%), from €5,488 to €140,794
- Gross operating margin -€61,667
down €61,667 (-59.6%), from €103,387 to €41,720
- Depreciation -€23,912
down €23,912 (-20.4%), from €117,309 to €93,397
- Financial charges -€17,331
down €17,331 (-24.6%), from €70,360 to €53,029
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 | €2,176,331 | €1,925,080 | -€251,251 | -11.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,170,139 | €1,681,315 | -€488,824 | -22.5% |
| Tangible fixed assets | 22/27 | €2,170,105 | €1,681,281 | -€488,824 | -22.5% |
| Land and buildings | 22 | €2,091,350 | €1,621,611 | -€469,739 | -22.5% |
| Plant, machinery and equipment | 23 | €4,043 | €3,566 | -€477 | -11.8% |
| Furniture and vehicles | 24 | €74,713 | €56,105 | -€18,608 | -24.9% |
| Financial fixed assets | 28 | €33 | €33 | = | 0.0% |
| Current assets | 29/58 | €6,192 | €243,765 | +€237,573 | +3,837% |
| Stocks and contracts in progress | 3 | €204 | €204 | = | 0.0% |
| Stocks | 30/36 | €204 | €204 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €100,327 | +€100,327 | |
| Trade receivables | 40 | - | €327 | +€327 | |
| Other amounts receivable | 41 | - | €100,000 | +€100,000 | |
| Current investments | 50/53 | €20 | €135,055 | +€135,034 | +662,583% |
| Cash at bank and in hand | 54/58 | €2,509 | €4,520 | +€2,010 | +80.1% |
| Deferred charges and accrued income | 490/1 | €3,458 | €3,660 | +€202 | +5.8% |
| Total equity and liabilities | 10/49 | €2,176,331 | €1,925,080 | -€251,251 | -11.5% |
| Equity | 10/15 | €791,610 | €1,101,067 | +€309,457 | +39.1% |
| Contributions | 10/11 | €68,197 | €68,197 | = | 0.0% |
| Reserves | 13 | €558,169 | €867,626 | +€309,457 | +55.4% |
| Tax-exempt reserves | 132 | €202,073 | €188,697 | -€13,376 | -6.6% |
| Distributable reserves | 133 | €356,096 | €678,929 | +€322,833 | +90.7% |
| Profit (loss) carried forward | 14 | €165,244 | €165,244 | = | 0.0% |
| Provisions and deferred taxes | 16 | €104,052 | €97,164 | -€6,888 | -6.6% |
| Deferred taxes | 168 | €104,052 | €97,164 | -€6,888 | -6.6% |
| Amounts payable | 17/49 | €1,280,669 | €726,849 | -€553,820 | -43.2% |
| Amounts payable after more than one year | 17 | €516,730 | €376,621 | -€140,109 | -27.1% |
| Financial debts | 170/4 | €516,730 | €376,621 | -€140,109 | -27.1% |
| Amounts payable within one year | 42/48 | €763,094 | €350,228 | -€412,867 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €119,056 | €19,304 | -€99,751 | -83.8% |
| Trade debts | 44 | €3,336 | €187 | -€3,149 | -94.4% |
| Suppliers | 440/4 | €3,336 | €187 | -€3,149 | -94.4% |
| Taxes, remuneration and social security | 45 | €15,195 | €50,659 | +€35,464 | +233% |
| Taxes | 450/3 | €15,195 | €50,659 | +€35,464 | +233% |
| Other amounts payable | 47/48 | €625,507 | €280,077 | -€345,430 | -55.2% |
| Accrued charges and deferred income | 492/3 | €844 | - | -€844 | |
| Non-recurring operating income | 76A | €25,324 | - | -€25,324 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,309 | €93,397 | -€23,912 | -20.4% |
| Other operating charges | 640/8 | €13,586 | €9,679 | -€3,907 | -28.8% |
| Gross operating margin | 9900 | €103,387 | €41,720 | -€61,667 | -59.6% |
| Operating profit (loss) | 9901 | -€27,508 | -€61,355 | -€33,848 | -123% |
| Financial income | 75/76B | €134,821 | €557,748 | +€422,927 | +314% |
| Recurring financial income | 75 | €12 | €47 | +€35 | +289% |
| Non-recurring financial income | 76B | €134,809 | €557,701 | +€422,892 | +314% |
| Financial charges | 65/66B | €70,360 | €53,029 | -€17,331 | -24.6% |
| Recurring financial charges | 65 | €70,360 | €53,029 | -€17,331 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €36,953 | €443,364 | +€406,410 | +1,100% |
| Transfer from deferred taxes | 780 | €6,888 | €6,888 | = | 0.0% |
| Income taxes | 67/77 | €5,488 | €140,794 | +€135,306 | +2,465% |
| Profit (loss) for the period | 9904 | €38,353 | €309,457 | +€271,104 | +707% |
| Transfer from tax-exempt reserves | 789 | €13,376 | €13,376 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,729 | €322,833 | +€271,104 | +524% |
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 28 October 2026 via checked.be.