Van Hulle - Dereeper: 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 Hulle - Dereeper
Largest movements
- Stocks and contracts -€136,027
down €136,027 (-31.9%), from €426,017 to €289,990
- Receivables within one year +€50,930
up €50,930 (+43.2%), from €117,826 to €168,756
of which Trade receivables: +€47,792
- Cash -€14,427
down €14,427 (-35.6%), from €40,512 to €26,085
mainly Debts after one year (-€68,795) and Receivables within one year (-€50,930)
- Debts after one year -€68,795
down €68,795 (-12.1%), from €569,655 to €500,860
- Reserves -€31,426
down €31,426 (-24.4%), from €128,541 to €97,115
- Trade debts +€28,672
up €28,672 (+64.7%), from €44,342 to €73,014
- Tax, wage and social debts -€25,906
down €25,906 (-57.1%), from €45,381 to €19,475
of which Remuneration and social security: -€21,575
- Gross operating margin -€128,897
down €128,897 (-40.7%), from €316,657 to €187,760
- Staff costs -€50,571
down €50,571 (-26.8%), from €188,424 to €137,852
- Taxes -€23,959
down €23,959 (-99.4%), from €24,100 to €140
- Depreciation +€11,054
up €11,054 (+32.6%), from €33,958 to €45,012
- Financial charges +€7,562
up €7,562 (+43.4%), from €17,428 to €24,990
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 | €868,694 | €766,558 | -€102,136 | -11.8% |
| Fixed assets | 21/28 | €280,279 | €276,041 | -€4,239 | -1.5% |
| Tangible fixed assets | 22/27 | €277,579 | €271,136 | -€6,444 | -2.3% |
| Land and buildings | 22 | €165,452 | €161,597 | -€3,855 | -2.3% |
| Plant, machinery and equipment | 23 | €40,023 | €35,404 | -€4,619 | -11.5% |
| Furniture and vehicles | 24 | €72,104 | €74,135 | +€2,030 | +2.8% |
| Financial fixed assets | 28 | €2,700 | €4,905 | +€2,205 | +81.7% |
| Current assets | 29/58 | €588,414 | €490,517 | -€97,897 | -16.6% |
| Stocks and contracts in progress | 3 | €426,017 | €289,990 | -€136,027 | -31.9% |
| Stocks | 30/36 | €426,017 | €289,990 | -€136,027 | -31.9% |
| Amounts receivable within one year | 40/41 | €117,826 | €168,756 | +€50,930 | +43.2% |
| Trade receivables | 40 | €89,557 | €137,349 | +€47,792 | +53.4% |
| Other amounts receivable | 41 | €28,269 | €31,407 | +€3,138 | +11.1% |
| Cash at bank and in hand | 54/58 | €40,512 | €26,085 | -€14,427 | -35.6% |
| Deferred charges and accrued income | 490/1 | €4,059 | €5,686 | +€1,627 | +40.1% |
| Total equity and liabilities | 10/49 | €868,694 | €766,558 | -€102,136 | -11.8% |
| Equity | 10/15 | €147,141 | €115,715 | -€31,426 | -21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,541 | €97,115 | -€31,426 | -24.4% |
| Distributable reserves | 133 | €128,541 | €97,115 | -€31,426 | -24.4% |
| Amounts payable | 17/49 | €721,553 | €650,843 | -€70,710 | -9.8% |
| Amounts payable after more than one year | 17 | €569,655 | €500,860 | -€68,795 | -12.1% |
| Financial debts | 170/4 | €569,655 | €500,860 | -€68,795 | -12.1% |
| Amounts payable within one year | 42/48 | €151,898 | €149,983 | -€1,915 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €42,094 | €33,794 | -€8,299 | -19.7% |
| Trade debts | 44 | €44,342 | €73,014 | +€28,672 | +64.7% |
| Suppliers | 440/4 | €44,342 | €73,014 | +€28,672 | +64.7% |
| Taxes, remuneration and social security | 45 | €45,381 | €19,475 | -€25,906 | -57.1% |
| Taxes | 450/3 | €20,821 | €16,491 | -€4,330 | -20.8% |
| Remuneration and social security | 454/9 | €24,559 | €2,984 | -€21,575 | -87.9% |
| Other amounts payable | 47/48 | €20,082 | €23,700 | +€3,618 | +18.0% |
| Non-recurring operating income | 76A | €130,194 | - | -€130,194 | |
| Remuneration, social security and pensions | 62 | €188,424 | €137,852 | -€50,571 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,958 | €45,012 | +€11,054 | +32.6% |
| Other operating charges | 640/8 | €6,802 | €11,306 | +€4,504 | +66.2% |
| Gross operating margin | 9900 | €316,657 | €187,760 | -€128,897 | -40.7% |
| Operating profit (loss) | 9901 | €87,473 | -€6,410 | -€93,883 | |
| Financial income | 75/76B | €403 | €115 | -€288 | -71.5% |
| Recurring financial income | 75 | €403 | €115 | -€288 | -71.5% |
| Financial charges | 65/66B | €17,428 | €24,990 | +€7,562 | +43.4% |
| Recurring financial charges | 65 | €17,428 | €24,990 | +€7,562 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | €70,448 | -€31,286 | -€101,734 | |
| Income taxes | 67/77 | €24,100 | €140 | -€23,959 | -99.4% |
| Profit (loss) for the period | 9904 | €46,348 | -€31,426 | -€77,774 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,348 | -€31,426 | -€77,774 |
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 20 October 2026 via checked.be.