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
- Receivables within one year +€101,652
up €101,652 (+884%), from €11,500 to €113,152
of which Trade receivables: +€90,740
- Cash -€72,525
down €72,525 (-33.5%), from €216,294 to €143,769
mainly Trade debts (-€122,704) and Investment in fixed assets (net) (-€117,752)
- Trade debts -€122,704
down €122,704 (-33.8%), from €362,931 to €240,226
- Reserves +€100,000
up €100,000 (+10.0%), from €1.0m to €1.1m
- Other debts +€62,256
up €62,256 (+46.9%), from €132,644 to €194,900
- Gross operating margin +€65,753
up €65,753 (+31.4%), from €209,251 to €275,004
- Taxes +€10,563
up €10,563 (+43.0%), from €24,568 to €35,131
- Depreciation +€7,609
up €7,609 (+8.2%), from €93,004 to €100,613
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 | €3,699,124 | €3,748,191 | +€49,067 | +1.3% |
| Fixed assets | 21/28 | €3,327,901 | €3,345,040 | +€17,140 | +0.5% |
| Intangible fixed assets | 21 | €12,477 | - | -€12,477 | |
| Tangible fixed assets | 22/27 | €3,315,176 | €3,345,040 | +€29,864 | +0.9% |
| Land and buildings | 22 | €3,235,099 | €3,191,246 | -€43,853 | -1.4% |
| Plant, machinery and equipment | 23 | €80,077 | €47,594 | -€32,483 | -40.6% |
| Furniture and vehicles | 24 | - | €106,200 | +€106,200 | |
| Financial fixed assets | 28 | €248 | - | -€248 | |
| Current assets | 29/58 | €371,223 | €403,151 | +€31,927 | +8.6% |
| Stocks and contracts in progress | 3 | €143,430 | €146,230 | +€2,800 | +2.0% |
| Stocks | 30/36 | €143,430 | €146,230 | +€2,800 | +2.0% |
| Amounts receivable within one year | 40/41 | €11,500 | €113,152 | +€101,652 | +884% |
| Trade receivables | 40 | €11,500 | €102,240 | +€90,740 | +789% |
| Other amounts receivable | 41 | - | €10,913 | +€10,913 | |
| Cash at bank and in hand | 54/58 | €216,294 | €143,769 | -€72,525 | -33.5% |
| Total equity and liabilities | 10/49 | €3,699,124 | €3,748,191 | +€49,067 | +1.3% |
| Equity | 10/15 | €2,515,402 | €2,630,466 | +€115,064 | +4.6% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €1,000,000 | €1,100,000 | +€100,000 | +10.0% |
| Distributable reserves | 133 | €1,000,000 | €1,100,000 | +€100,000 | +10.0% |
| Profit (loss) carried forward | 14 | €15,402 | €30,466 | +€15,064 | +97.8% |
| Amounts payable | 17/49 | €1,183,722 | €1,117,724 | -€65,998 | -5.6% |
| Amounts payable after more than one year | 17 | €677,500 | €677,500 | = | 0.0% |
| Other amounts payable | 178/9 | €677,500 | €677,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €506,222 | €440,224 | -€65,998 | -13.0% |
| Trade debts | 44 | €362,931 | €240,226 | -€122,704 | -33.8% |
| Suppliers | 440/4 | €362,931 | €240,226 | -€122,704 | -33.8% |
| Taxes, remuneration and social security | 45 | €10,647 | €5,097 | -€5,549 | -52.1% |
| Taxes | 450/3 | €10,647 | €5,097 | -€5,549 | -52.1% |
| Other amounts payable | 47/48 | €132,644 | €194,900 | +€62,256 | +46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,004 | €100,613 | +€7,609 | +8.2% |
| Other operating charges | 640/8 | €23,522 | €24,230 | +€708 | +3.0% |
| Gross operating margin | 9900 | €209,251 | €275,004 | +€65,753 | +31.4% |
| Operating profit (loss) | 9901 | €92,725 | €150,162 | +€57,437 | +61.9% |
| Financial income | 75/76B | €360 | €116 | -€244 | -67.7% |
| Recurring financial income | 75 | €360 | €116 | -€244 | -67.7% |
| Financial charges | 65/66B | €141 | €83 | -€58 | -41.2% |
| Recurring financial charges | 65 | €141 | €83 | -€58 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €92,944 | €150,195 | +€57,251 | +61.6% |
| Income taxes | 67/77 | €24,568 | €35,131 | +€10,563 | +43.0% |
| Profit (loss) for the period | 9904 | €68,376 | €115,064 | +€46,688 | +68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,376 | €115,064 | +€46,688 | +68.3% |
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 22 October 2026 via checked.be.