VANHAEREN GILBERT: 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.
VANHAEREN GILBERT
Largest movements
- Cash +€62,776
up €62,776 (+36.2%), from €173,228 to €236,004
mainly Other debts (+€76,789) and Net result for the year (+€50,926)
- Tangible fixed assets -€30,443
down €30,443 (-26.8%), from €113,483 to €83,041
of which Furniture and vehicles: -€25,870
- Other debts +€76,789
new in 2025: €76,789
- Reserves -€43,985
down €43,985 (-18.5%), from €237,671 to €193,686
- Tax, wage and social debts +€18,263
up €18,263 (+262%), from €6,959 to €25,223
of which Taxes: +€18,837
- Debts after one year -€17,642
down €17,642 (-51.8%), from €34,064 to €16,421
- Advances received +€7,263
new in 2025: €7,263
- Gross operating margin +€48,136
up €48,136 (+75.5%), from €63,785 to €111,921
- Taxes +€16,475
up €16,475 (+194%), from €8,500 to €24,975
- Depreciation +€3,899
up €3,899 (+14.7%), from €26,543 to €30,443
- Financial charges +€1,145
up €1,145 (+49.6%), from €2,306 to €3,451
- Financial income +€1,133
up €1,133 (+224%), from €505 to €1,638
of which Non-recurring financial income: +€660
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 | €327,915 | €362,954 | +€35,039 | +10.7% |
| Fixed assets | 21/28 | €113,808 | €83,366 | -€30,443 | -26.7% |
| Tangible fixed assets | 22/27 | €113,483 | €83,041 | -€30,443 | -26.8% |
| Land and buildings | 22 | - | €13,718 | +€13,718 | |
| Furniture and vehicles | 24 | €95,193 | €69,323 | -€25,870 | -27.2% |
| Other tangible fixed assets | 26 | €18,290 | - | -€18,290 | |
| Financial fixed assets | 28 | €325 | €325 | = | 0.0% |
| Current assets | 29/58 | €214,107 | €279,589 | +€65,482 | +30.6% |
| Stocks and contracts in progress | 3 | €1,683 | €1,380 | -€303 | -18.0% |
| Stocks | 30/36 | €1,683 | €1,380 | -€303 | -18.0% |
| Amounts receivable within one year | 40/41 | €34,669 | €37,754 | +€3,086 | +8.9% |
| Trade receivables | 40 | €31,334 | €37,750 | +€6,416 | +20.5% |
| Other amounts receivable | 41 | €3,335 | €5 | -€3,330 | -99.9% |
| Cash at bank and in hand | 54/58 | €173,228 | €236,004 | +€62,776 | +36.2% |
| Deferred charges and accrued income | 490/1 | €4,527 | €4,450 | -€77 | -1.7% |
| Total equity and liabilities | 10/49 | €327,915 | €362,954 | +€35,039 | +10.7% |
| Equity | 10/15 | €256,271 | €212,286 | -€43,985 | -17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €237,671 | €193,686 | -€43,985 | -18.5% |
| Distributable reserves | 133 | €237,671 | €193,686 | -€43,985 | -18.5% |
| Amounts payable | 17/49 | €71,645 | €150,668 | +€79,024 | +110% |
| Amounts payable after more than one year | 17 | €34,064 | €16,421 | -€17,642 | -51.8% |
| Financial debts | 170/4 | €34,064 | €16,421 | -€17,642 | -51.8% |
| Amounts payable within one year | 42/48 | €37,445 | €132,755 | +€95,311 | +255% |
| Current portion of amounts payable after more than one year | 42 | €20,199 | €17,642 | -€2,557 | -12.7% |
| Trade debts | 44 | €10,286 | €5,838 | -€4,448 | -43.2% |
| Suppliers | 440/4 | €10,286 | €5,838 | -€4,448 | -43.2% |
| Advances received on contracts in progress | 46 | - | €7,263 | +€7,263 | |
| Taxes, remuneration and social security | 45 | €6,959 | €25,223 | +€18,263 | +262% |
| Taxes | 450/3 | €4,386 | €23,223 | +€18,837 | +429% |
| Remuneration and social security | 454/9 | €2,573 | €2,000 | -€573 | -22.3% |
| Other amounts payable | 47/48 | - | €76,789 | +€76,789 | |
| Accrued charges and deferred income | 492/3 | €136 | €1,491 | +€1,355 | +994% |
| Non-recurring operating income | 76A | €14,376 | - | -€14,376 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,543 | €30,443 | +€3,899 | +14.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €330 | - | -€330 | |
| Other operating charges | 640/8 | €3,563 | €3,764 | +€202 | +5.7% |
| Gross operating margin | 9900 | €63,785 | €111,921 | +€48,136 | +75.5% |
| Operating profit (loss) | 9901 | €33,349 | €77,714 | +€44,365 | +133% |
| Financial income | 75/76B | €505 | €1,638 | +€1,133 | +224% |
| Recurring financial income | 75 | €505 | €978 | +€473 | +93.7% |
| Non-recurring financial income | 76B | - | €660 | +€660 | |
| Financial charges | 65/66B | €2,306 | €3,451 | +€1,145 | +49.6% |
| Recurring financial charges | 65 | €2,306 | €3,451 | +€1,145 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €31,548 | €75,901 | +€44,354 | +141% |
| Income taxes | 67/77 | €8,500 | €24,975 | +€16,475 | +194% |
| Profit (loss) for the period | 9904 | €23,047 | €50,926 | +€27,878 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €23,047 | €50,926 | +€27,878 | +121% |
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.