VAN HULLE: 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 HULLE
Largest movements
- Stocks and contracts +€32,530
up €32,530 (+27.0%), from €120,346 to €152,876
- Tangible fixed assets -€26,821
down €26,821 (-20.2%), from €132,722 to €105,900
of which Furniture and vehicles: -€27,048
- Receivables within one year -€12,722
down €12,722 (-92.8%), from €13,705 to €983
of which Trade receivables: -€11,817
- Deferred charges and accrued income -€3,563
down €3,563 (-23.1%), from €15,426 to €11,863
- Other debts +€29,365
up €29,365 (+24.6%), from €119,156 to €148,521
- Debts after one year -€20,708
down €20,708 (-25.9%), from €79,929 to €59,221
- Tax, wage and social debts -€9,561
down €9,561 (-92.8%), from €10,299 to €739
of which Remuneration and social security: -€8,352
- Current portion of long-term debt -€6,095
down €6,095 (-22.7%), from €26,803 to €20,708
- Profit (loss) carried forward -€3,297
down €3,297 (-8.5%), from -€38,666 to -€41,963
- Gross operating margin +€24,308
up €24,308 (+46.2%), from €52,642 to €76,949
- Depreciation +€15,720
up €15,720 (+113.7%), from €13,826 to €29,546
- Staff costs -€5,457
down €5,457 (-16.8%), from €32,459 to €27,002
- Financial charges +€3,090
up €3,090 (+48.8%), from €6,328 to €9,417
- Other operating charges +€1,930
up €1,930 (+72.2%), from €2,674 to €4,604
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 | €295,639 | €283,594 | -€12,045 | -4.1% |
| Fixed assets | 21/28 | €132,722 | €105,900 | -€26,821 | -20.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €132,722 | €105,900 | -€26,821 | -20.2% |
| Land and buildings | 22 | €3,329 | €5,381 | +€2,052 | +61.7% |
| Plant, machinery and equipment | 23 | €4,966 | €3,140 | -€1,825 | -36.8% |
| Furniture and vehicles | 24 | €124,428 | €97,379 | -€27,048 | -21.7% |
| Current assets | 29/58 | €162,917 | €177,694 | +€14,777 | +9.1% |
| Stocks and contracts in progress | 3 | €120,346 | €152,876 | +€32,530 | +27.0% |
| Stocks | 30/36 | €120,346 | €152,876 | +€32,530 | +27.0% |
| Amounts receivable within one year | 40/41 | €13,705 | €983 | -€12,722 | -92.8% |
| Trade receivables | 40 | €12,686 | €868 | -€11,817 | -93.2% |
| Other amounts receivable | 41 | €1,019 | €115 | -€905 | -88.7% |
| Cash at bank and in hand | 54/58 | €13,440 | €11,971 | -€1,468 | -10.9% |
| Deferred charges and accrued income | 490/1 | €15,426 | €11,863 | -€3,563 | -23.1% |
| Total equity and liabilities | 10/49 | €295,639 | €283,594 | -€12,045 | -4.1% |
| Equity | 10/15 | -€7,072 | -€10,370 | -€3,297 | -46.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €29,093 | €29,093 | = | 0.0% |
| Distributable reserves | 133 | €29,093 | €29,093 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,666 | -€41,963 | -€3,297 | -8.5% |
| Amounts payable | 17/49 | €302,711 | €293,964 | -€8,747 | -2.9% |
| Amounts payable after more than one year | 17 | €79,929 | €59,221 | -€20,708 | -25.9% |
| Financial debts | 170/4 | €79,929 | €59,221 | -€20,708 | -25.9% |
| Amounts payable within one year | 42/48 | €222,782 | €234,743 | +€11,961 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €26,803 | €20,708 | -€6,095 | -22.7% |
| Financial debts | 43 | €30,684 | €30,176 | -€508 | -1.7% |
| Credit institutions | 430/8 | €30,684 | €30,176 | -€508 | -1.7% |
| Trade debts | 44 | €35,840 | €34,164 | -€1,676 | -4.7% |
| Suppliers | 440/4 | €35,840 | €34,164 | -€1,676 | -4.7% |
| Advances received on contracts in progress | 46 | - | €435 | +€435 | |
| Taxes, remuneration and social security | 45 | €10,299 | €739 | -€9,561 | -92.8% |
| Taxes | 450/3 | €1,947 | €739 | -€1,209 | -62.1% |
| Remuneration and social security | 454/9 | €8,352 | €0 | -€8,352 | -100.0% |
| Other amounts payable | 47/48 | €119,156 | €148,521 | +€29,365 | +24.6% |
| Remuneration, social security and pensions | 62 | €32,459 | €27,002 | -€5,457 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,826 | €29,546 | +€15,720 | +113.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,813 | €9,625 | -€188 | -1.9% |
| Other operating charges | 640/8 | €2,674 | €4,604 | +€1,930 | +72.2% |
| Non-recurring operating charges | 66A | €1,373 | €0 | -€1,373 | -100.0% |
| Gross operating margin | 9900 | €52,642 | €76,949 | +€24,308 | +46.2% |
| Operating profit (loss) | 9901 | -€7,503 | €6,173 | +€13,676 | |
| Financial income | 75/76B | €455 | €78 | -€377 | -82.9% |
| Recurring financial income | 75 | €455 | €78 | -€377 | -82.9% |
| Financial charges | 65/66B | €6,328 | €9,417 | +€3,090 | +48.8% |
| Recurring financial charges | 65 | €6,328 | €9,417 | +€3,090 | +48.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,376 | -€3,167 | +€10,210 | +76.3% |
| Income taxes | 67/77 | €608 | €131 | -€477 | -78.5% |
| Profit (loss) for the period | 9904 | -€13,984 | -€3,297 | +€10,687 | +76.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,984 | -€3,297 | +€10,687 | +76.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.