VANHAEVERBEKE: 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.
VANHAEVERBEKE
Largest movements
- Receivables within one year +€63,133
up €63,133 (+281%), from €22,463 to €85,596
of which Trade receivables: +€65,337
- Cash +€32,799
up €32,799 (+162%), from €20,255 to €53,054
mainly Net result for the year (+€64,786) and Stocks and contracts (+€18,897)
- Stocks and contracts -€18,897
no longer reported in 2025 (was €18,897)
- Reserves +€64,786
up €64,786 (+258%), from €25,159 to €89,945
- Current portion of long-term debt +€8,856
up €8,856 (+55.9%), from €15,843 to €24,699
- Tax, wage and social debts +€6,939
up €6,939 (+463%), from €1,500 to €8,439
of which Taxes: +€6,086
- Trade debts -€1,476
down €1,476 (-19.2%), from €7,703 to €6,227
- Gross operating margin +€59,843
up €59,843 (+158%), from €37,780 to €97,623
- Taxes +€15,443
up €15,443 (+145%), from €10,643 to €26,086
- Other operating charges +€4,435
up €4,435 (+351%), from €1,265 to €5,700
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 | €61,615 | €139,738 | +€78,123 | +127% |
| Fixed assets | 21/28 | - | €1,088 | +€1,088 | |
| Tangible fixed assets | 22/27 | - | €1,088 | +€1,088 | |
| Furniture and vehicles | 24 | - | €1,088 | +€1,088 | |
| Current assets | 29/58 | €61,615 | €138,650 | +€77,035 | +125% |
| Stocks and contracts in progress | 3 | €18,897 | - | -€18,897 | |
| Stocks | 30/36 | €18,897 | - | -€18,897 | |
| Amounts receivable within one year | 40/41 | €22,463 | €85,596 | +€63,133 | +281% |
| Trade receivables | 40 | €12,155 | €77,492 | +€65,337 | +538% |
| Other amounts receivable | 41 | €10,308 | €8,104 | -€2,204 | -21.4% |
| Cash at bank and in hand | 54/58 | €20,255 | €53,054 | +€32,799 | +162% |
| Total equity and liabilities | 10/49 | €61,615 | €139,738 | +€78,123 | +127% |
| Equity | 10/15 | €30,159 | €94,945 | +€64,786 | +215% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,159 | €89,945 | +€64,786 | +258% |
| Distributable reserves | 133 | €25,159 | €89,945 | +€64,786 | +258% |
| Amounts payable | 17/49 | €31,456 | €44,793 | +€13,337 | +42.4% |
| Amounts payable within one year | 42/48 | €31,456 | €44,793 | +€13,337 | +42.4% |
| Current portion of amounts payable after more than one year | 42 | €15,843 | €24,699 | +€8,856 | +55.9% |
| Trade debts | 44 | €7,703 | €6,227 | -€1,476 | -19.2% |
| Suppliers | 440/4 | €7,703 | €6,227 | -€1,476 | -19.2% |
| Taxes, remuneration and social security | 45 | €1,500 | €8,439 | +€6,939 | +463% |
| Taxes | 450/3 | - | €6,086 | +€6,086 | |
| Remuneration and social security | 454/9 | €1,500 | €2,353 | +€853 | +56.9% |
| Other amounts payable | 47/48 | €6,410 | €5,427 | -€983 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €424 | +€424 | |
| Other operating charges | 640/8 | €1,265 | €5,700 | +€4,435 | +351% |
| Gross operating margin | 9900 | €37,780 | €97,623 | +€59,843 | +158% |
| Operating profit (loss) | 9901 | €36,515 | €91,499 | +€54,984 | +151% |
| Financial income | 75/76B | €40 | €194 | +€154 | +384% |
| Recurring financial income | 75 | €40 | €194 | +€154 | +384% |
| Financial charges | 65/66B | €753 | €821 | +€68 | +9.1% |
| Recurring financial charges | 65 | €753 | €821 | +€68 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €35,802 | €90,872 | +€55,070 | +154% |
| Income taxes | 67/77 | €10,643 | €26,086 | +€15,443 | +145% |
| Profit (loss) for the period | 9904 | €25,159 | €64,786 | +€39,627 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €25,159 | €64,786 | +€39,627 | +158% |
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 14 October 2026 via checked.be.