VANDENHOECK: 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.
VANDENHOECK
Largest movements
- Cash +€133,052
up €133,052 (+14.9%), from €891,340 to €1.0m
mainly Net result for the year (+€281,436) and Stocks and contracts (+€79,238)
- Receivables within one year +€89,269
up €89,269 (+53.0%), from €168,409 to €257,678
of which Trade receivables: +€102,100
- Stocks and contracts -€79,238
down €79,238 (-16.1%), from €490,908 to €411,670
- Tangible fixed assets -€43,973
down €43,973 (-30.8%), from €142,720 to €98,747
of which Furniture and vehicles: -€24,415
- Other debts +€30,571
up €30,571 (+18.8%), from €162,693 to €193,264
- Reserves +€28,172
up €28,172 (+6.7%), from €422,649 to €450,821
of which Distributable reserves: +€28,172
- Tax, wage and social debts +€25,946
up €25,946 (+38.8%), from €66,955 to €92,901
of which Taxes: +€23,336
- Gross operating margin +€47,112
up €47,112 (+7.9%), from €595,618 to €642,730
- Depreciation -€24,462
down €24,462 (-35.7%), from €68,435 to €43,973
- Taxes +€19,236
up €19,236 (+22.9%), from €83,886 to €103,122
- Staff costs +€6,449
up €6,449 (+2.8%), from €232,045 to €238,494
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 | €1,910,216 | €2,014,727 | +€104,511 | +5.5% |
| Fixed assets | 21/28 | €142,745 | €98,772 | -€43,973 | -30.8% |
| Tangible fixed assets | 22/27 | €142,720 | €98,747 | -€43,973 | -30.8% |
| Land and buildings | 22 | €47,877 | €45,126 | -€2,751 | -5.7% |
| Plant, machinery and equipment | 23 | €30,344 | €15,196 | -€15,148 | -49.9% |
| Furniture and vehicles | 24 | €60,747 | €36,333 | -€24,415 | -40.2% |
| Leasing and similar rights | 25 | €3,752 | €2,092 | -€1,660 | -44.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €1,767,472 | €1,915,955 | +€148,484 | +8.4% |
| Stocks and contracts in progress | 3 | €490,908 | €411,670 | -€79,238 | -16.1% |
| Stocks | 30/36 | €490,908 | €411,670 | -€79,238 | -16.1% |
| Amounts receivable within one year | 40/41 | €168,409 | €257,678 | +€89,269 | +53.0% |
| Trade receivables | 40 | €140,449 | €242,549 | +€102,100 | +72.7% |
| Other amounts receivable | 41 | €27,960 | €15,129 | -€12,831 | -45.9% |
| Current investments | 50/53 | €211,414 | €211,414 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €891,340 | €1,024,392 | +€133,052 | +14.9% |
| Deferred charges and accrued income | 490/1 | €5,400 | €10,800 | +€5,400 | +100% |
| Total equity and liabilities | 10/49 | €1,910,216 | €2,014,727 | +€104,511 | +5.5% |
| Equity | 10/15 | €1,676,565 | €1,704,736 | +€28,172 | +1.7% |
| Contributions | 10/11 | €611,414 | €611,414 | = | 0.0% |
| Capital | 10 | €611,414 | €611,414 | = | 0.0% |
| Issued capital | 100 | €611,414 | €611,414 | = | 0.0% |
| Reserves | 13 | €422,649 | €450,821 | +€28,172 | +6.7% |
| Non-distributable reserves | 130/1 | €61,141 | €61,141 | = | 0.0% |
| Legal reserve | 130 | €61,141 | - | -€61,141 | |
| Reserves not available under the articles | 1311 | - | €61,141 | +€61,141 | |
| Tax-exempt reserves | 132 | €18,713 | €18,713 | = | 0.0% |
| Distributable reserves | 133 | €342,795 | €370,967 | +€28,172 | +8.2% |
| Profit (loss) carried forward | 14 | €642,501 | €642,501 | = | 0.0% |
| Amounts payable | 17/49 | €233,652 | €309,991 | +€76,339 | +32.7% |
| Amounts payable within one year | 42/48 | €233,052 | €308,791 | +€75,739 | +32.5% |
| Trade debts | 44 | €3,403 | €22,626 | +€19,222 | +565% |
| Suppliers | 440/4 | €3,403 | €22,626 | +€19,222 | +565% |
| Taxes, remuneration and social security | 45 | €66,955 | €92,901 | +€25,946 | +38.8% |
| Taxes | 450/3 | €43,441 | €66,777 | +€23,336 | +53.7% |
| Remuneration and social security | 454/9 | €23,514 | €26,124 | +€2,610 | +11.1% |
| Other amounts payable | 47/48 | €162,693 | €193,264 | +€30,571 | +18.8% |
| Accrued charges and deferred income | 492/3 | €600 | €1,200 | +€600 | +100% |
| Remuneration, social security and pensions | 62 | €232,045 | €238,494 | +€6,449 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,435 | €43,973 | -€24,462 | -35.7% |
| Other operating charges | 640/8 | €10,621 | €11,142 | +€521 | +4.9% |
| Gross operating margin | 9900 | €595,618 | €642,730 | +€47,112 | +7.9% |
| Operating profit (loss) | 9901 | €284,517 | €349,121 | +€64,604 | +22.7% |
| Financial income | 75/76B | €32,465 | €35,670 | +€3,205 | +9.9% |
| Recurring financial income | 75 | €32,465 | €35,670 | +€3,205 | +9.9% |
| Financial charges | 65/66B | €403 | €233 | -€169 | -42.1% |
| Recurring financial charges | 65 | €403 | €233 | -€169 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €316,579 | €384,558 | +€67,978 | +21.5% |
| Income taxes | 67/77 | €83,886 | €103,122 | +€19,236 | +22.9% |
| Profit (loss) for the period | 9904 | €232,693 | €281,436 | +€48,742 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €232,693 | €281,436 | +€48,742 | +20.9% |
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.