Vanhalst Group: 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.
Vanhalst Group
Largest movements
- Financial fixed assets +€300,000
up €300,000 (+9.1%), from €3.3m to €3.6m
- Cash -€238,161
down €238,161 (-73.5%), from €323,998 to €85,837
mainly Investment in fixed assets (net) (-€300,000) and Trade debts (-€4,956)
- Reserves +€59,196
up €59,196 (+9.5%), from €622,105 to €681,301
- Financial income -€30,696
down €30,696 (-34.6%), from €88,737 to €58,042
- Other operating charges -€966
down €966 (-82.6%), from €1,169 to €203
- Taxes +€730
up €730 (+156%), from €468 to €1,198
- Gross operating margin +€314
up €314 (+13.7%), from €2,284 to €2,597
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 | €3,639,004 | €3,696,768 | +€57,764 | +1.6% |
| Fixed assets | 21/28 | €3,300,936 | €3,600,936 | +€300,000 | +9.1% |
| Financial fixed assets | 28 | €3,300,936 | €3,600,936 | +€300,000 | +9.1% |
| Current assets | 29/58 | €338,068 | €95,832 | -€242,236 | -71.7% |
| Amounts receivable within one year | 40/41 | €14,070 | €9,995 | -€4,075 | -29.0% |
| Trade receivables | 40 | €11,830 | €7,755 | -€4,075 | -34.4% |
| Other amounts receivable | 41 | €2,240 | €2,240 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €323,998 | €85,837 | -€238,161 | -73.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,639,004 | €3,696,768 | +€57,764 | +1.6% |
| Equity | 10/15 | €3,622,105 | €3,681,301 | +€59,196 | +1.6% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €622,105 | €681,301 | +€59,196 | +9.5% |
| Distributable reserves | 133 | €622,105 | €681,301 | +€59,196 | +9.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €16,899 | €15,467 | -€1,432 | -8.5% |
| Amounts payable within one year | 42/48 | €15,963 | €14,531 | -€1,432 | -9.0% |
| Trade debts | 44 | €13,050 | €8,095 | -€4,956 | -38.0% |
| Suppliers | 440/4 | €13,050 | €8,095 | -€4,956 | -38.0% |
| Taxes, remuneration and social security | 45 | €2,913 | €3,524 | +€612 | +21.0% |
| Taxes | 450/3 | €2,913 | €3,524 | +€612 | +21.0% |
| Other amounts payable | 47/48 | €0 | €2,912 | +€2,912 | |
| Accrued charges and deferred income | 492/3 | €936 | €936 | = | 0.0% |
| Other operating charges | 640/8 | €1,169 | €203 | -€966 | -82.6% |
| Gross operating margin | 9900 | €2,284 | €2,597 | +€314 | +13.7% |
| Operating profit (loss) | 9901 | €1,115 | €2,394 | +€1,279 | +115% |
| Financial income | 75/76B | €88,737 | €58,042 | -€30,696 | -34.6% |
| Recurring financial income | 75 | €88,737 | €58,042 | -€30,696 | -34.6% |
| Financial charges | 65/66B | €63 | €42 | -€21 | -33.4% |
| Recurring financial charges | 65 | €63 | €42 | -€21 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €89,789 | €60,394 | -€29,395 | -32.7% |
| Income taxes | 67/77 | €468 | €1,198 | +€730 | +156% |
| Profit (loss) for the period | 9904 | €89,321 | €59,196 | -€30,126 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,321 | €59,196 | -€30,126 | -33.7% |
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 13 October 2026 via checked.be.