VAN HERCK: what changed
VAN HERCK
Largest movements
- Receivables within one year -€305,969
down €305,969 (-99.3%), from €308,104 to €2,135
of which Trade receivables: -€302,616
- Cash +€283,091
up €283,091 (+142%), from €198,712 to €481,803
mainly Receivables within one year (+€305,969) and Other debts (+€113,234)
- Deferred charges and accrued income -€11,607
down €11,607 (-45.9%), from €25,278 to €13,671
- Reserves -€138,920
down €138,920 (-28.1%), from €493,995 to €355,075
of which Distributable reserves: -€138,920
- Other debts +€113,234
up €113,234 (+1,539%), from €7,359 to €120,593
- Gross operating margin -€11,756
down €11,756 (-17.5%), from €67,081 to €55,325
- Taxes -€3,647
down €3,647 (-24.4%), from €14,922 to €11,275
- Financial income +€2,226
new in 2025: €2,226
- Financial charges +€1,544
up €1,544 (+15,440,500%), from €0 to €1,544
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €536,582 | €503,777 | -€32,805 | -6.1% |
| Fixed assets | 21/28 | €4,487 | €6,168 | +€1,681 | +37.5% |
| Tangible fixed assets | 22/27 | €4,487 | €6,168 | +€1,681 | +37.5% |
| Furniture and vehicles | 24 | €4,487 | €6,168 | +€1,681 | +37.5% |
| Current assets | 29/58 | €532,095 | €497,609 | -€34,486 | -6.5% |
| Amounts receivable within one year | 40/41 | €308,104 | €2,135 | -€305,969 | -99.3% |
| Trade receivables | 40 | €303,026 | €410 | -€302,616 | -99.9% |
| Other amounts receivable | 41 | €5,078 | €1,725 | -€3,353 | -66.0% |
| Cash at bank and in hand | 54/58 | €198,712 | €481,803 | +€283,091 | +142% |
| Deferred charges and accrued income | 490/1 | €25,278 | €13,671 | -€11,607 | -45.9% |
| Total equity and liabilities | 10/49 | €536,582 | €503,777 | -€32,805 | -6.1% |
| Equity | 10/15 | €512,595 | €373,675 | -€138,920 | -27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €493,995 | €355,075 | -€138,920 | -28.1% |
| Tax-exempt reserves | 132 | €73,675 | €73,675 | = | 0.0% |
| Distributable reserves | 133 | €420,320 | €281,400 | -€138,920 | -33.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,987 | €130,102 | +€106,115 | +442% |
| Amounts payable within one year | 42/48 | €23,987 | €130,102 | +€106,115 | +442% |
| Trade debts | 44 | €3,554 | €0 | -€3,554 | -100% |
| Suppliers | 440/4 | €3,554 | €0 | -€3,554 | -100% |
| Taxes, remuneration and social security | 45 | €13,073 | €9,509 | -€3,565 | -27.3% |
| Taxes | 450/3 | €5,723 | €3,347 | -€2,376 | -41.5% |
| Remuneration and social security | 454/9 | €7,351 | €6,161 | -€1,189 | -16.2% |
| Other amounts payable | 47/48 | €7,359 | €120,593 | +€113,234 | +1,539% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €1,399 | +€1,399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,704 | €3,191 | +€488 | +18.0% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €67,081 | €55,325 | -€11,756 | -17.5% |
| Operating profit (loss) | 9901 | €63,926 | €51,668 | -€12,258 | -19.2% |
| Financial income | 75/76B | - | €2,226 | +€2,226 | |
| Recurring financial income | 75 | - | €2,226 | +€2,226 | |
| Financial charges | 65/66B | €0 | €1,544 | +€1,544 | +15,440,500% |
| Recurring financial charges | 65 | €0 | €1,544 | +€1,544 | +15,440,500% |
| Profit (loss) for the period before taxes | 9903 | €63,926 | €52,350 | -€11,576 | -18.1% |
| Income taxes | 67/77 | €14,922 | €11,275 | -€3,647 | -24.4% |
| Profit (loss) for the period | 9904 | €49,004 | €41,075 | -€7,929 | -16.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €49,004 | €41,075 | -€7,929 | -16.2% |
Next steps
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 1 November 2026 via checked.be.