VAN HESSEN: 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 HESSEN
Largest movements
- Receivables within one year +€687,907
up €687,907 (+37.3%), from €1.8m to €2.5m
of which Trade receivables: +€957,617
- Cash -€377,408
down €377,408 (-56.4%), from €668,831 to €291,423
mainly Receivables within one year (-€687,907) and Other debts (-€243,119)
- Stocks and contracts +€106,929
up €106,929 (+39.6%), from €270,195 to €377,124
- Current investments -€98,948
down €98,948 (-49.4%), from €200,474 to €101,526
- Financial fixed assets +€56,117
up €56,117 (+41.9%), from €133,827 to €189,944
- Accrued charges and deferred income +€621,022
up €621,022 (+56.2%), from €1.1m to €1.7m
- Other debts -€243,119
down €243,119 (-61.7%), from €394,133 to €151,014
- Trade debts -€176,222
down €176,222 (-19.1%), from €922,678 to €746,456
- Reserves +€157,337
up €157,337 (+63.7%), from €247,027 to €404,364
of which Distributable reserves: +€157,337
- Advances received -€103,054
down €103,054 (-10.5%), from €983,798 to €880,744
- Staff costs +€244,761
up €244,761 (+8.9%), from €2.7m to €3.0m
- Gross operating margin +€158,862
up €158,862 (+4.9%), from €3.2m to €3.4m
- Write-downs +€80,793
up €80,793, from -€27,417 to €53,377
- Financial charges -€55,649
down €55,649 (-47.6%), from €117,014 to €61,366
of which Non-recurring financial charges: -€50,000
- Financial income +€36,284
up €36,284 (+335.7%), from €10,810 to €47,094
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 | €4,234,900 | €4,588,531 | +€353,631 | +8.4% |
| Fixed assets | 21/28 | €197,163 | €238,543 | +€41,380 | +21.0% |
| Tangible fixed assets | 22/27 | €63,336 | €48,599 | -€14,737 | -23.3% |
| Plant, machinery and equipment | 23 | €11,427 | €5,092 | -€6,335 | -55.4% |
| Furniture and vehicles | 24 | €18,857 | €16,719 | -€2,138 | -11.3% |
| Other tangible fixed assets | 26 | €33,053 | €26,789 | -€6,264 | -19.0% |
| Financial fixed assets | 28 | €133,827 | €189,944 | +€56,117 | +41.9% |
| Current assets | 29/58 | €4,037,737 | €4,349,988 | +€312,250 | +7.7% |
| Stocks and contracts in progress | 3 | €270,195 | €377,124 | +€106,929 | +39.6% |
| Stocks | 30/36 | €270,195 | €377,124 | +€106,929 | +39.6% |
| Amounts receivable within one year | 40/41 | €1,845,988 | €2,533,895 | +€687,907 | +37.3% |
| Trade receivables | 40 | €1,556,057 | €2,513,674 | +€957,617 | +61.5% |
| Other amounts receivable | 41 | €289,931 | €20,221 | -€269,710 | -93.0% |
| Current investments | 50/53 | €200,474 | €101,526 | -€98,948 | -49.4% |
| Cash at bank and in hand | 54/58 | €668,831 | €291,423 | -€377,408 | -56.4% |
| Deferred charges and accrued income | 490/1 | €1,052,249 | €1,046,020 | -€6,230 | -0.6% |
| Total equity and liabilities | 10/49 | €4,234,900 | €4,588,531 | +€353,631 | +8.4% |
| Equity | 10/15 | €315,204 | €472,541 | +€157,337 | +49.9% |
| Contributions | 10/11 | €68,177 | €68,177 | = | 0.0% |
| Capital | 10 | €68,177 | €68,177 | = | 0.0% |
| Issued capital | 100 | €68,177 | €68,177 | = | 0.0% |
| Reserves | 13 | €247,027 | €404,364 | +€157,337 | +63.7% |
| Non-distributable reserves | 130/1 | €6,818 | €6,818 | = | 0.0% |
| Legal reserve | 130 | €6,818 | €6,818 | = | 0.0% |
| Distributable reserves | 133 | €240,210 | €397,547 | +€157,337 | +65.5% |
| Amounts payable | 17/49 | €3,919,696 | €4,115,990 | +€196,294 | +5.0% |
| Amounts payable within one year | 42/48 | €2,814,894 | €2,390,167 | -€424,728 | -15.1% |
| Trade debts | 44 | €922,678 | €746,456 | -€176,222 | -19.1% |
| Suppliers | 440/4 | €922,678 | €746,456 | -€176,222 | -19.1% |
| Advances received on contracts in progress | 46 | €983,798 | €880,744 | -€103,054 | -10.5% |
| Taxes, remuneration and social security | 45 | €514,285 | €611,953 | +€97,667 | +19.0% |
| Taxes | 450/3 | €85,171 | €113,915 | +€28,744 | +33.7% |
| Remuneration and social security | 454/9 | €429,114 | €498,037 | +€68,923 | +16.1% |
| Other amounts payable | 47/48 | €394,133 | €151,014 | -€243,119 | -61.7% |
| Accrued charges and deferred income | 492/3 | €1,104,801 | €1,725,823 | +€621,022 | +56.2% |
| Remuneration, social security and pensions | 62 | €2,748,352 | €2,993,113 | +€244,761 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,004 | €29,619 | +€615 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€27,417 | €53,377 | +€80,793 | |
| Other operating charges | 640/8 | €15,277 | €43,156 | +€27,879 | +182.5% |
| Gross operating margin | 9900 | €3,228,725 | €3,387,587 | +€158,862 | +4.9% |
| Operating profit (loss) | 9901 | €463,508 | €268,323 | -€195,185 | -42.1% |
| Financial income | 75/76B | €10,810 | €47,094 | +€36,284 | +335.7% |
| Recurring financial income | 75 | €10,810 | €47,094 | +€36,284 | +335.7% |
| Financial charges | 65/66B | €117,014 | €61,366 | -€55,649 | -47.6% |
| Recurring financial charges | 65 | €67,014 | €61,366 | -€5,649 | -8.4% |
| Non-recurring financial charges | 66B | €50,000 | - | -€50,000 | |
| Profit (loss) for the period before taxes | 9903 | €357,304 | €254,051 | -€103,252 | -28.9% |
| Income taxes | 67/77 | €100,518 | €96,714 | -€3,803 | -3.8% |
| Profit (loss) for the period | 9904 | €256,786 | €157,337 | -€99,449 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €256,786 | €157,337 | -€99,449 | -38.7% |
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 7 October 2026 via checked.be.