VANDERHAEGHE PROJECTS: 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.
VANDERHAEGHE PROJECTS
Largest movements
- Cash -€9,570
down €9,570 (-73.7%), from €12,992 to €3,422
mainly Debts after one year (-€28,000) and Other debts (-€4,602)
- Intangible fixed assets +€2,725
new in 2025: €2,725
- Receivables within one year -€2,682
down €2,682 (-13.6%), from €19,741 to €17,058
of which Other amounts receivable: -€9,591
- Debts after one year -€28,000
down €28,000 (-29.5%), from €94,975 to €66,975
of which Other amounts payable: -€28,000
- Profit (loss) carried forward +€16,594
up €16,594 (+18.3%), from -€90,708 to -€74,114
- Other debts -€4,602
down €4,602 (-84.2%), from €5,464 to €862
- Trade debts +€3,585
up €3,585 (+31.0%), from €11,573 to €15,158
- Tax, wage and social debts +€2,507
up €2,507 (+308%), from €815 to €3,321
- Gross operating margin +€15,502
up €15,502 (+584%), from €2,653 to €18,156
- Financial income +€770
up €770 (+10,258%), from €8 to €778
- Depreciation +€433
up €433 (+118%), from €366 to €799
- Other operating charges +€209
up €209 (+27.0%), from €776 to €985
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 | €40,718 | €30,852 | -€9,866 | -24.2% |
| Fixed assets | 21/28 | €4,064 | €6,515 | +€2,450 | +60.3% |
| Intangible fixed assets | 21 | - | €2,725 | +€2,725 | |
| Tangible fixed assets | 22/27 | €274 | €0 | -€274 | -100% |
| Plant, machinery and equipment | 23 | €274 | €0 | -€274 | -100% |
| Financial fixed assets | 28 | €3,790 | €3,790 | = | 0.0% |
| Current assets | 29/58 | €36,654 | €24,337 | -€12,317 | -33.6% |
| Stocks and contracts in progress | 3 | €3,473 | €3,473 | = | 0.0% |
| Stocks | 30/36 | €3,473 | €3,473 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,741 | €17,058 | -€2,682 | -13.6% |
| Trade receivables | 40 | €10,150 | €17,058 | +€6,908 | +68.1% |
| Other amounts receivable | 41 | €9,591 | €0 | -€9,591 | -100% |
| Cash at bank and in hand | 54/58 | €12,992 | €3,422 | -€9,570 | -73.7% |
| Deferred charges and accrued income | 490/1 | €448 | €385 | -€64 | -14.3% |
| Total equity and liabilities | 10/49 | €40,718 | €30,852 | -€9,866 | -24.2% |
| Equity | 10/15 | -€72,108 | -€55,514 | +€16,594 | +23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,708 | -€74,114 | +€16,594 | +18.3% |
| Amounts payable | 17/49 | €112,826 | €86,366 | -€26,461 | -23.5% |
| Amounts payable after more than one year | 17 | €94,975 | €66,975 | -€28,000 | -29.5% |
| Financial debts | 170/4 | €31,975 | €31,975 | = | 0.0% |
| Other amounts payable | 178/9 | €63,000 | €35,000 | -€28,000 | -44.4% |
| Amounts payable within one year | 42/48 | €17,851 | €19,341 | +€1,490 | +8.3% |
| Trade debts | 44 | €11,573 | €15,158 | +€3,585 | +31.0% |
| Suppliers | 440/4 | €11,573 | €15,158 | +€3,585 | +31.0% |
| Taxes, remuneration and social security | 45 | €815 | €3,321 | +€2,507 | +308% |
| Taxes | 450/3 | €815 | €3,321 | +€2,507 | +308% |
| Other amounts payable | 47/48 | €5,464 | €862 | -€4,602 | -84.2% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €366 | €799 | +€433 | +118% |
| Other operating charges | 640/8 | €776 | €985 | +€209 | +27.0% |
| Gross operating margin | 9900 | €2,653 | €18,156 | +€15,502 | +584% |
| Operating profit (loss) | 9901 | €1,511 | €16,371 | +€14,860 | +983% |
| Financial income | 75/76B | €8 | €778 | +€770 | +10,258% |
| Recurring financial income | 75 | €8 | €778 | +€770 | +10,258% |
| Financial charges | 65/66B | €492 | €555 | +€63 | +12.9% |
| Recurring financial charges | 65 | €492 | €555 | +€63 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €1,027 | €16,594 | +€15,567 | +1,516% |
| Profit (loss) for the period | 9904 | €1,027 | €16,594 | +€15,567 | +1,516% |
| Profit (loss) for the period to be appropriated | 9905 | €1,027 | €16,594 | +€15,567 | +1,516% |
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 16 October 2026 via checked.be.