VAN HOUDT: 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 HOUDT
Largest movements
- Receivables within one year -€190,694
down €190,694 (-94.9%), from €200,983 to €10,289
of which Other amounts receivable: -€176,732
- Cash -€89,345
down €89,345 (-99.1%), from €90,119 to €774
mainly Other debts (-€100,038) and Contributions, distributions and other (-€100,000)
- Tangible fixed assets -€18,665
down €18,665 (-59.8%), from €31,205 to €12,540
of which Furniture and vehicles: -€16,465
- Reserves -€134,520
down €134,520 (-98.3%), from €136,860 to €2,340
of which Distributable reserves: -€134,520
- Other debts -€100,038
no longer reported in 2025 (was €100,038)
- Trade debts -€50,835
down €50,835 (-95.0%), from €53,497 to €2,662
- Tax, wage and social debts -€5,749
down €5,749 (-100.0%), from €5,750 to €2
- Current portion of long-term debt -€4,025
no longer reported in 2025 (was €4,025)
- Gross operating margin -€45,809
down €45,809, from €33,875 to -€11,933
- Financial income -€9,320
down €9,320 (-100.0%), from €9,323 to €3
- Taxes -€5,749
no longer reported in 2025 (was €5,749)
- Other operating charges +€3,732
up €3,732 (+433%), from €862 to €4,593
- Depreciation +€512
up €512 (+2.5%), from €20,776 to €21,288
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 | €322,308 | €23,604 | -€298,704 | -92.7% |
| Fixed assets | 21/28 | €31,205 | €12,540 | -€18,665 | -59.8% |
| Tangible fixed assets | 22/27 | €31,205 | €12,540 | -€18,665 | -59.8% |
| Plant, machinery and equipment | 23 | €6,667 | €4,467 | -€2,200 | -33.0% |
| Furniture and vehicles | 24 | €24,538 | €8,073 | -€16,465 | -67.1% |
| Current assets | 29/58 | €291,102 | €11,063 | -€280,039 | -96.2% |
| Amounts receivable within one year | 40/41 | €200,983 | €10,289 | -€190,694 | -94.9% |
| Trade receivables | 40 | €20,876 | €6,915 | -€13,961 | -66.9% |
| Other amounts receivable | 41 | €180,107 | €3,374 | -€176,732 | -98.1% |
| Cash at bank and in hand | 54/58 | €90,119 | €774 | -€89,345 | -99.1% |
| Total equity and liabilities | 10/49 | €322,308 | €23,604 | -€298,704 | -92.7% |
| Equity | 10/15 | €158,998 | €20,940 | -€138,058 | -86.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €136,860 | €2,340 | -€134,520 | -98.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €135,000 | €480 | -€134,520 | -99.6% |
| Profit (loss) carried forward | 14 | €3,538 | - | -€3,538 | |
| Amounts payable | 17/49 | €163,309 | €2,664 | -€160,646 | -98.4% |
| Amounts payable within one year | 42/48 | €163,309 | €2,664 | -€160,646 | -98.4% |
| Current portion of amounts payable after more than one year | 42 | €4,025 | - | -€4,025 | |
| Trade debts | 44 | €53,497 | €2,662 | -€50,835 | -95.0% |
| Suppliers | 440/4 | €53,497 | €2,662 | -€50,835 | -95.0% |
| Taxes, remuneration and social security | 45 | €5,750 | €2 | -€5,749 | -100.0% |
| Taxes | 450/3 | €5,750 | €2 | -€5,749 | -100.0% |
| Other amounts payable | 47/48 | €100,038 | - | -€100,038 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,776 | €21,288 | +€512 | +2.5% |
| Other operating charges | 640/8 | €862 | €4,593 | +€3,732 | +433% |
| Gross operating margin | 9900 | €33,875 | -€11,933 | -€45,809 | |
| Operating profit (loss) | 9901 | €12,238 | -€37,814 | -€50,053 | |
| Financial income | 75/76B | €9,323 | €3 | -€9,320 | -100.0% |
| Recurring financial income | 75 | €9,323 | €3 | -€9,320 | -100.0% |
| Financial charges | 65/66B | €632 | €247 | -€385 | -60.9% |
| Recurring financial charges | 65 | €632 | €247 | -€385 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €20,929 | -€38,058 | -€58,988 | |
| Income taxes | 67/77 | €5,749 | - | -€5,749 | |
| Profit (loss) for the period | 9904 | €15,181 | -€38,058 | -€53,239 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,181 | -€38,058 | -€53,239 |
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 15 October 2026 via checked.be.