VANHAECKE CONSTRUCTIE: 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.
VANHAECKE CONSTRUCTIE
Largest movements
- Receivables within one year -€419,310
down €419,310 (-69.1%), from €606,642 to €187,332
of which Other amounts receivable: -€462,672
- Tangible fixed assets +€394,612
up €394,612 (+25.2%), from €1.6m to €2.0m
of which Land and buildings: +€466,555
- Cash -€34,896
down €34,896 (-39.8%), from €87,633 to €52,738
mainly Investment in fixed assets (net) (-€549,048) and Debts after one year (-€108,821)
- Other debts +€114,341
up €114,341 (+4,640%), from €2,464 to €116,805
- Debts after one year -€108,821
down €108,821 (-6.6%), from €1.6m to €1.5m
- Profit (loss) carried forward -€98,474
down €98,474 (-57.5%), from -€171,204 to -€269,678
- Trade debts -€54,433
down €54,433 (-15.4%), from €352,661 to €298,228
- Current portion of long-term debt +€33,599
up €33,599 (+19.6%), from €171,829 to €205,428
- Staff costs +€85,672
up €85,672 (+50.8%), from €168,488 to €254,160
- Financial income +€17,679
up €17,679 (+1,180%), from €1,499 to €19,178
- Depreciation +€15,030
up €15,030 (+10.8%), from €139,406 to €154,436
- Financial charges +€14,232
up €14,232 (+28.2%), from €50,400 to €64,632
- Gross operating margin -€10,623
down €10,623 (-2.8%), from €375,946 to €365,323
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 | €2,484,189 | €2,412,183 | -€72,005 | -2.9% |
| Fixed assets | 21/28 | €1,567,962 | €1,962,574 | +€394,612 | +25.2% |
| Tangible fixed assets | 22/27 | €1,567,467 | €1,962,079 | +€394,612 | +25.2% |
| Land and buildings | 22 | €1,252,506 | €1,719,062 | +€466,555 | +37.2% |
| Plant, machinery and equipment | 23 | €151,583 | €115,583 | -€36,000 | -23.7% |
| Furniture and vehicles | 24 | €15,073 | €7,698 | -€7,374 | -48.9% |
| Leasing and similar rights | 25 | €97,947 | €72,029 | -€25,918 | -26.5% |
| Other tangible fixed assets | 26 | €50,358 | €47,707 | -€2,650 | -5.3% |
| Financial fixed assets | 28 | €495 | €495 | = | 0.0% |
| Current assets | 29/58 | €916,227 | €449,610 | -€466,617 | -50.9% |
| Stocks and contracts in progress | 3 | €212,227 | €198,133 | -€14,094 | -6.6% |
| Stocks | 30/36 | €177,875 | €176,300 | -€1,575 | -0.9% |
| Contracts in progress | 37 | €34,352 | €21,833 | -€12,519 | -36.4% |
| Amounts receivable within one year | 40/41 | €606,642 | €187,332 | -€419,310 | -69.1% |
| Trade receivables | 40 | €142,268 | €185,630 | +€43,362 | +30.5% |
| Other amounts receivable | 41 | €464,375 | €1,702 | -€462,672 | -99.6% |
| Cash at bank and in hand | 54/58 | €87,633 | €52,738 | -€34,896 | -39.8% |
| Deferred charges and accrued income | 490/1 | €9,724 | €11,408 | +€1,683 | +17.3% |
| Total equity and liabilities | 10/49 | €2,484,189 | €2,412,183 | -€72,005 | -2.9% |
| Equity | 10/15 | €144,921 | €46,447 | -€98,474 | -68.0% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Revaluation surpluses | 12 | €131,348 | €131,348 | = | 0.0% |
| Reserves | 13 | €178,569 | €178,569 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €178,569 | €178,569 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€171,204 | -€269,678 | -€98,474 | -57.5% |
| Amounts payable | 17/49 | €2,339,268 | €2,365,737 | +€26,469 | +1.1% |
| Amounts payable after more than one year | 17 | €1,643,959 | €1,535,139 | -€108,821 | -6.6% |
| Financial debts | 170/4 | €1,643,959 | €1,535,139 | -€108,821 | -6.6% |
| Amounts payable within one year | 42/48 | €690,402 | €823,833 | +€133,431 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €171,829 | €205,428 | +€33,599 | +19.6% |
| Financial debts | 43 | €125,000 | €137,000 | +€12,000 | +9.6% |
| Credit institutions | 430/8 | €125,000 | €137,000 | +€12,000 | +9.6% |
| Trade debts | 44 | €352,661 | €298,228 | -€54,433 | -15.4% |
| Suppliers | 440/4 | €352,661 | €298,228 | -€54,433 | -15.4% |
| Taxes, remuneration and social security | 45 | €38,448 | €66,372 | +€27,924 | +72.6% |
| Taxes | 450/3 | €26,277 | €19,863 | -€6,414 | -24.4% |
| Remuneration and social security | 454/9 | €12,171 | €46,509 | +€34,338 | +282% |
| Other amounts payable | 47/48 | €2,464 | €116,805 | +€114,341 | +4,640% |
| Accrued charges and deferred income | 492/3 | €4,906 | €6,765 | +€1,859 | +37.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €168,488 | €254,160 | +€85,672 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,406 | €154,436 | +€15,030 | +10.8% |
| Other operating charges | 640/8 | €13,527 | €9,578 | -€3,949 | -29.2% |
| Gross operating margin | 9900 | €375,946 | €365,323 | -€10,623 | -2.8% |
| Operating profit (loss) | 9901 | €54,525 | -€52,850 | -€107,376 | |
| Financial income | 75/76B | €1,499 | €19,178 | +€17,679 | +1,180% |
| Recurring financial income | 75 | €1,499 | €19,178 | +€17,679 | +1,180% |
| Financial charges | 65/66B | €50,400 | €64,632 | +€14,232 | +28.2% |
| Recurring financial charges | 65 | €50,400 | €64,632 | +€14,232 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €5,624 | -€98,304 | -€103,928 | |
| Income taxes | 67/77 | €0 | €170 | +€170 | +73,874% |
| Profit (loss) for the period | 9904 | €5,624 | -€98,474 | -€104,098 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,624 | -€98,474 | -€104,098 |
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 27 October 2026 via checked.be.