VAN HULLEBUSCH: 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 HULLEBUSCH
Largest movements
- Tangible fixed assets +€47,107
up €47,107 (+17.9%), from €263,117 to €310,224
of which Furniture and vehicles: +€54,952
- Cash -€38,954
down €38,954 (-73.5%), from €52,971 to €14,017
mainly Investment in fixed assets (net) (-€73,918) and Net result for the year (-€25,056)
- Receivables within one year -€10,243
down €10,243 (-32.2%), from €31,844 to €21,601
of which Trade receivables: -€10,246
- Debts after one year +€30,769
new in 2025: €30,769
- Profit (loss) carried forward -€25,056
down €25,056 (-9.0%), from -€278,294 to -€303,350
- Accrued charges and deferred income -€21,690
no longer reported in 2025 (was €21,690)
- Current portion of long-term debt +€12,610
new in 2025: €12,610
- Tax, wage and social debts +€3,726
up €3,726 (+37.4%), from €9,964 to €13,690
- Gross operating margin -€69,395
down €69,395 (-84.4%), from €82,197 to €12,802
- Financial charges -€20,546
down €20,546 (-93.8%), from €21,893 to €1,347
- Depreciation +€13,466
up €13,466 (+101%), from €13,346 to €26,812
- Other operating charges +€6,644
up €6,644 (+365%), from €1,820 to €8,464
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 | €349,097 | €345,941 | -€3,156 | -0.9% |
| Fixed assets | 21/28 | €263,117 | €310,224 | +€47,107 | +17.9% |
| Tangible fixed assets | 22/27 | €263,117 | €310,224 | +€47,107 | +17.9% |
| Land and buildings | 22 | €251,612 | €242,161 | -€9,451 | -3.8% |
| Plant, machinery and equipment | 23 | - | €1,606 | +€1,606 | |
| Furniture and vehicles | 24 | €11,505 | €66,457 | +€54,952 | +478% |
| Current assets | 29/58 | €85,980 | €35,717 | -€50,263 | -58.5% |
| Amounts receivable within one year | 40/41 | €31,844 | €21,601 | -€10,243 | -32.2% |
| Trade receivables | 40 | €31,844 | €21,599 | -€10,246 | -32.2% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €52,971 | €14,017 | -€38,954 | -73.5% |
| Deferred charges and accrued income | 490/1 | €1,165 | €99 | -€1,065 | -91.5% |
| Total equity and liabilities | 10/49 | €349,097 | €345,941 | -€3,156 | -0.9% |
| Equity | 10/15 | €42,157 | €17,101 | -€25,056 | -59.4% |
| Contributions | 10/11 | €268,592 | €268,592 | = | 0.0% |
| Revaluation surpluses | 12 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€278,294 | -€303,350 | -€25,056 | -9.0% |
| Amounts payable | 17/49 | €306,940 | €328,840 | +€21,900 | +7.1% |
| Amounts payable after more than one year | 17 | - | €30,769 | +€30,769 | |
| Financial debts | 170/4 | - | €30,769 | +€30,769 | |
| Amounts payable within one year | 42/48 | €285,250 | €298,071 | +€12,821 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | - | €12,610 | +€12,610 | |
| Trade debts | 44 | €9,210 | €8,151 | -€1,059 | -11.5% |
| Suppliers | 440/4 | €7,410 | €8,151 | +€741 | +10.0% |
| Bills of exchange payable | 441 | €1,800 | - | -€1,800 | |
| Taxes, remuneration and social security | 45 | €9,964 | €13,690 | +€3,726 | +37.4% |
| Taxes | 450/3 | €9,964 | €13,690 | +€3,726 | +37.4% |
| Other amounts payable | 47/48 | €266,076 | €263,620 | -€2,456 | -0.9% |
| Accrued charges and deferred income | 492/3 | €21,690 | - | -€21,690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,346 | €26,812 | +€13,466 | +101% |
| Other operating charges | 640/8 | €1,820 | €8,464 | +€6,644 | +365% |
| Gross operating margin | 9900 | €82,197 | €12,802 | -€69,395 | -84.4% |
| Operating profit (loss) | 9901 | €67,032 | -€22,473 | -€89,505 | |
| Financial income | 75/76B | €3 | €7 | +€4 | +119% |
| Recurring financial income | 75 | €3 | €7 | +€4 | +119% |
| Financial charges | 65/66B | €21,893 | €1,347 | -€20,546 | -93.8% |
| Recurring financial charges | 65 | €21,893 | €1,347 | -€20,546 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | €45,142 | -€23,813 | -€68,955 | |
| Income taxes | 67/77 | €884 | €1,242 | +€358 | +40.5% |
| Profit (loss) for the period | 9904 | €44,257 | -€25,056 | -€69,313 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,257 | -€25,056 | -€69,313 |
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 21 October 2026 via checked.be.