Van Hee-Spaerkeer: what changed
What changed
Van Hee-Spaerkeer
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
-€259
2024 · €8,388-€8,646
Equity
€44,595
2024 · €44,854-€259
Cash
€24,410
2024 · €25,695-€1,285
Balance sheet total
€102,782
2024 · €104,368-€1,586
Largest movements
Assets
- Tangible fixed assets -€16,266
down €16,266 (-32.8%), from €49,615 to €33,350
of which Furniture and vehicles: -€9,159
- Receivables within one year +€14,207
up €14,207 (+76.9%), from €18,463 to €32,670
of which Trade receivables: +€13,187
- Deferred charges and accrued income +€1,758
up €1,758 (+301%), from €585 to €2,343
- Cash -€1,285
down €1,285 (-5.0%), from €25,695 to €24,410
mainly Receivables within one year (-€14,207) and Investment in fixed assets (net) (-€11,644)
Equity and liabilities
- Debts after one year -€8,967
down €8,967 (-48.5%), from €18,479 to €9,512
of which Financial debts: -€8,967
- Tax, wage and social debts +€6,993
up €6,993, from €0 to €6,993
of which Taxes: +€6,993
- Trade debts +€1,228
up €1,228 (+4.9%), from €25,308 to €26,537
of which Suppliers: +€1,228
Income statement
- Gross operating margin -€38,537
down €38,537 (-56.0%), from €68,843 to €30,306
- Staff costs -€29,591
down €29,591 (-100%), from €29,591 to €0
- Taxes -€2,800
down €2,800 (-85.3%), from €3,282 to €482
- Depreciation +€2,736
up €2,736 (+10.9%), from €25,173 to €27,910
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.
Result 2024
€8,388
Gross operating margin
-€38,537
Staff costs
+€29,591
Depreciation
-€2,736
Other operating charges
+€58
Financial income
-€8
Financial charges
+€184
Taxes
+€2,800
Result 2025
-€259
raises the resultlowers the result
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.
From operations
+€19,907
Investment
-€11,644
Financing
-€9,548
Cash 2024
€25,695
From operations (derived)
+€19,907
Net result for the year
-€259
Depreciation
+€27,910
Receivables within one year
-€14,207
Deferred charges and accrued income
-€1,758
Trade debts
+€1,228
Tax, wage and social debts
+€6,993
Investment (derived)
-€11,644
Investment in fixed assets (net)
-€11,644
Financing
-€9,548
Debts after one year
-€8,967
Current portion of long-term debt
-€581
Cash 2025
€24,410
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €104,368 | €102,782 | -€1,586 | -1.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €49,625 | €33,360 | -€16,266 | -32.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €49,615 | €33,350 | -€16,266 | -32.8% |
| Land and buildings | 22 | €7,593 | €6,467 | -€1,126 | -14.8% |
| Plant, machinery and equipment | 23 | €6,859 | €879 | -€5,981 | -87.2% |
| Furniture and vehicles | 24 | €35,164 | €26,004 | -€9,159 | -26.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €54,742 | €69,422 | +€14,680 | +26.8% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €18,463 | €32,670 | +€14,207 | +76.9% |
| Trade receivables | 40 | €8,756 | €21,943 | +€13,187 | +151% |
| Other amounts receivable | 41 | €9,707 | €10,727 | +€1,020 | +10.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €25,695 | €24,410 | -€1,285 | -5.0% |
| Deferred charges and accrued income | 490/1 | €585 | €2,343 | +€1,758 | +301% |
| Total equity and liabilities | 10/49 | €104,368 | €102,782 | -€1,586 | -1.5% |
| Equity | 10/15 | €44,854 | €44,595 | -€259 | -0.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €34,100 | €34,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Financial assistance | 1313 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €34,100 | €34,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €754 | €495 | -€259 | -34.3% |
| Investment grants | 15 | €0 | - | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Taxes | 161 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €59,514 | €58,187 | -€1,327 | -2.2% |
| Amounts payable after more than one year | 17 | €18,479 | €9,512 | -€8,967 | -48.5% |
| Financial debts | 170/4 | €18,479 | €9,512 | -€8,967 | -48.5% |
| Trade debts | 175 | €0 | - | = | |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €41,035 | €48,675 | +€7,640 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €15,727 | €15,146 | -€581 | -3.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €25,308 | €26,537 | +€1,228 | +4.9% |
| Suppliers | 440/4 | €25,308 | €26,537 | +€1,228 | +4.9% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €6,993 | +€6,993 | |
| Taxes | 450/3 | €0 | €6,993 | +€6,993 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €29,591 | €0 | -€29,591 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,173 | €27,910 | +€2,736 | +10.9% |
| Other operating charges | 640/8 | €1,290 | €1,232 | -€58 | -4.5% |
| Gross operating margin | 9900 | €68,843 | €30,306 | -€38,537 | -56.0% |
| Operating profit (loss) | 9901 | €12,788 | €1,165 | -€11,623 | -90.9% |
| Financial income | 75/76B | €14 | €6 | -€8 | -55.8% |
| Recurring financial income | 75 | €14 | €6 | -€8 | -55.8% |
| Financial charges | 65/66B | €1,132 | €948 | -€184 | -16.3% |
| Recurring financial charges | 65 | €1,132 | €948 | -€184 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €11,670 | €223 | -€11,447 | -98.1% |
| Income taxes | 67/77 | €3,282 | €482 | -€2,800 | -85.3% |
| Profit (loss) for the period | 9904 | €8,388 | -€259 | -€8,646 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,388 | -€259 | -€8,646 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 2 November 2026 via checked.be.