VANHAELEMEESCH: 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.
VANHAELEMEESCH
Largest movements
- Cash +€135,475
up €135,475 (+76.6%), from €176,938 to €312,413
mainly Net result for the year (+€53,315) and Current investments (+€50,000)
- Current investments -€50,000
down €50,000 (-100%), from €50,000 to €0
- Stocks and contracts -€22,015
down €22,015 (-16.6%), from €132,448 to €110,433
- Receivables within one year +€10,023
up €10,023 (+982%), from €1,020 to €11,043
of which Trade receivables: +€8,349
- Reserves +€53,315
up €53,315 (+13.2%), from €403,080 to €456,396
of which Distributable reserves: +€53,315
- Tax, wage and social debts +€8,063
up €8,063 (+158%), from €5,106 to €13,169
of which Taxes: +€6,164
- Other debts +€7,473
up €7,473 (+9.1%), from €82,480 to €89,953
- Gross operating margin +€93,129
up €93,129, from -€25,698 to €67,431
- Taxes +€5,332
up €5,332 (+53,315,100%), from €0 to €5,332
- Financial income -€3,166
down €3,166 (-95.1%), from €3,330 to €164
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 | €388,061 | €460,598 | +€72,537 | +18.7% |
| Fixed assets | 21/28 | €21,030 | €21,237 | +€207 | +1.0% |
| Tangible fixed assets | 22/27 | €21,030 | €21,237 | +€207 | +1.0% |
| Land and buildings | 22 | €16,904 | €16,258 | -€647 | -3.8% |
| Plant, machinery and equipment | 23 | €4,125 | €3,185 | -€940 | -22.8% |
| Furniture and vehicles | 24 | - | €1,794 | +€1,794 | |
| Current assets | 29/58 | €367,032 | €439,361 | +€72,330 | +19.7% |
| Stocks and contracts in progress | 3 | €132,448 | €110,433 | -€22,015 | -16.6% |
| Stocks | 30/36 | €132,448 | €110,433 | -€22,015 | -16.6% |
| Amounts receivable within one year | 40/41 | €1,020 | €11,043 | +€10,023 | +982% |
| Trade receivables | 40 | - | €8,349 | +€8,349 | |
| Other amounts receivable | 41 | €1,020 | €2,695 | +€1,674 | +164% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100% |
| Cash at bank and in hand | 54/58 | €176,938 | €312,413 | +€135,475 | +76.6% |
| Deferred charges and accrued income | 490/1 | €6,625 | €5,472 | -€1,153 | -17.4% |
| Total equity and liabilities | 10/49 | €388,061 | €460,598 | +€72,537 | +18.7% |
| Equity | 10/15 | €291,131 | €344,446 | +€53,315 | +18.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €403,080 | €456,396 | +€53,315 | +13.2% |
| Tax-exempt reserves | 132 | €19,297 | €19,297 | = | 0.0% |
| Distributable reserves | 133 | €383,783 | €437,098 | +€53,315 | +13.9% |
| Profit (loss) carried forward | 14 | -€136,950 | -€136,950 | +€0 | 0.0% |
| Amounts payable | 17/49 | €96,931 | €116,152 | +€19,221 | +19.8% |
| Amounts payable within one year | 42/48 | €96,540 | €116,152 | +€19,612 | +20.3% |
| Trade debts | 44 | €8,954 | €13,030 | +€4,076 | +45.5% |
| Suppliers | 440/4 | €8,954 | €13,030 | +€4,076 | +45.5% |
| Taxes, remuneration and social security | 45 | €5,106 | €13,169 | +€8,063 | +158% |
| Taxes | 450/3 | €5,106 | €11,270 | +€6,164 | +121% |
| Remuneration and social security | 454/9 | €0 | €1,899 | +€1,899 | |
| Other amounts payable | 47/48 | €82,480 | €89,953 | +€7,473 | +9.1% |
| Accrued charges and deferred income | 492/3 | €390 | €0 | -€390 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,666 | €1,588 | -€78 | -4.7% |
| Other operating charges | 640/8 | €7,251 | €7,065 | -€186 | -2.6% |
| Gross operating margin | 9900 | -€25,698 | €67,431 | +€93,129 | |
| Operating profit (loss) | 9901 | -€34,615 | €58,779 | +€93,393 | |
| Financial income | 75/76B | €3,330 | €164 | -€3,166 | -95.1% |
| Recurring financial income | 75 | €3,330 | €164 | -€3,166 | -95.1% |
| Financial charges | 65/66B | €197 | €296 | +€98 | +49.9% |
| Recurring financial charges | 65 | €197 | €296 | +€98 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | -€31,482 | €58,647 | +€90,129 | |
| Income taxes | 67/77 | €0 | €5,332 | +€5,332 | +53,315,100% |
| Profit (loss) for the period | 9904 | -€31,482 | €53,315 | +€84,797 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,482 | €53,315 | +€84,797 |
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.