VANHAM & VANHAM: what changed
Two fiscal 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.
VANHAM & VANHAM
Largest movements
- Cash +€26,991
up €26,991 (+139.4%), from €19,361 to €46,352
mainly Net result for the year (+€28,374) and Receivables within one year (+€13,693)
- Receivables within one year -€13,693
down €13,693 (-66.0%), from €20,749 to €7,056
of which Trade receivables: -€13,384
- Tax, wage and social debts +€11,916
up €11,916 (+49.7%), from €23,997 to €35,913
- Other debts +€1,064
new in 2025: €1,064
- Gross operating margin +€14,592
up €14,592 (+59.4%), from €24,573 to €39,164
- Taxes +€4,346
up €4,346 (+99.1%), from €4,386 to €8,732
- Write-downs +€690
up €690 (+53.8%), from €1,283 to €1,972
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.
Cash bridge derived
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 | €41,953 | €54,977 | +€13,024 | +31.0% |
| Fixed assets | 21/28 | €600 | €600 | = | 0.0% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €41,353 | €54,377 | +€13,024 | +31.5% |
| Amounts receivable within one year | 40/41 | €20,749 | €7,056 | -€13,693 | -66.0% |
| Trade receivables | 40 | €20,440 | €7,056 | -€13,384 | -65.5% |
| Other amounts receivable | 41 | €309 | - | -€309 | |
| Cash at bank and in hand | 54/58 | €19,361 | €46,352 | +€26,991 | +139.4% |
| Deferred charges and accrued income | 490/1 | €1,243 | €969 | -€274 | -22.1% |
| Total equity and liabilities | 10/49 | €41,953 | €54,977 | +€13,024 | +31.0% |
| Equity | 10/15 | €15,467 | €15,840 | +€374 | +2.4% |
| Contributions | 10/11 | €13,140 | €13,140 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €467 | €840 | +€374 | +80.1% |
| Amounts payable | 17/49 | €26,486 | €39,136 | +€12,650 | +47.8% |
| Amounts payable within one year | 42/48 | €26,486 | €39,136 | +€12,650 | +47.8% |
| Trade debts | 44 | €2,489 | €2,160 | -€329 | -13.2% |
| Suppliers | 440/4 | €2,489 | €2,160 | -€329 | -13.2% |
| Taxes, remuneration and social security | 45 | €23,997 | €35,913 | +€11,916 | +49.7% |
| Taxes | 450/3 | €23,997 | €35,913 | +€11,916 | +49.7% |
| Other amounts payable | 47/48 | - | €1,064 | +€1,064 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,283 | €1,972 | +€690 | +53.8% |
| Other operating charges | 640/8 | €627 | €820 | +€193 | +30.9% |
| Gross operating margin | 9900 | €24,573 | €39,164 | +€14,592 | +59.4% |
| Operating profit (loss) | 9901 | €22,663 | €36,372 | +€13,708 | +60.5% |
| Financial income | 75/76B | €763 | €1,051 | +€288 | +37.7% |
| Recurring financial income | 75 | €593 | €1,051 | +€458 | +77.2% |
| Non-recurring financial income | 76B | €170 | - | -€170 | |
| Financial charges | 65/66B | €342 | €317 | -€25 | -7.4% |
| Recurring financial charges | 65 | €342 | €317 | -€25 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €23,084 | €37,105 | +€14,021 | +60.7% |
| Income taxes | 67/77 | €4,386 | €8,732 | +€4,346 | +99.1% |
| Profit (loss) for the period | 9904 | €18,698 | €28,374 | +€9,675 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,698 | €28,374 | +€9,675 | +51.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.