VANHAUWE HEATING: 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.
VANHAUWE HEATING
Largest movements
- Tangible fixed assets +€253,619
up €253,619 (+398.5%), from €63,643 to €317,262
- Cash +€81,130
up €81,130 (+579.8%), from €13,992 to €95,122
mainly Debts after one year (+€287,216) and Trade debts (+€68,365)
- Receivables within one year +€77,583
up €77,583 (+189.9%), from €40,862 to €118,445
of which Other amounts receivable: +€68,035
- Stocks and contracts -€24,000
down €24,000 (-27.4%), from €87,500 to €63,500
of which Contracts in progress: -€27,000
- Debts after one year +€287,216
up €287,216 (+3486.1%), from €8,239 to €295,455
- Trade debts +€68,365
up €68,365 (+1304.3%), from €5,241 to €73,606
- Reserves +€29,468
up €29,468 (+20.0%), from €147,561 to €177,030
- Current portion of long-term debt +€13,810
up €13,810 (+270.6%), from €5,104 to €18,914
- Other debts -€6,746
down €6,746 (-52.4%), from €12,868 to €6,122
- Gross operating margin +€31,917
up €31,917 (+35.8%), from €89,083 to €121,000
- Staff costs +€8,551
up €8,551 (+16.6%), from €51,394 to €59,945
- Depreciation +€2,424
up €2,424 (+14.5%), from €16,708 to €19,132
- Taxes +€1,935
up €1,935 (+25.5%), from €7,583 to €9,518
- Financial charges +€1,697
up €1,697 (+339.0%), from €500 to €2,197
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,071 | €604,718 | +€391,648 | +183.8% |
| Fixed assets | 21/28 | €63,643 | €317,262 | +€253,619 | +398.5% |
| Tangible fixed assets | 22/27 | €63,643 | €317,262 | +€253,619 | +398.5% |
| Land and buildings | 22 | - | €110,465 | +€110,465 | |
| Plant, machinery and equipment | 23 | €8,506 | €8,972 | +€466 | +5.5% |
| Furniture and vehicles | 24 | €22,050 | €50,168 | +€28,118 | +127.5% |
| Other tangible fixed assets | 26 | €33,087 | €32,434 | -€653 | -2.0% |
| Assets under construction and advance payments | 27 | - | €115,224 | +€115,224 | |
| Current assets | 29/58 | €149,428 | €287,457 | +€138,029 | +92.4% |
| Stocks and contracts in progress | 3 | €87,500 | €63,500 | -€24,000 | -27.4% |
| Stocks | 30/36 | €34,500 | €37,500 | +€3,000 | +8.7% |
| Contracts in progress | 37 | €53,000 | €26,000 | -€27,000 | -50.9% |
| Amounts receivable within one year | 40/41 | €40,862 | €118,445 | +€77,583 | +189.9% |
| Trade receivables | 40 | €35,858 | €45,406 | +€9,548 | +26.6% |
| Other amounts receivable | 41 | €5,004 | €73,039 | +€68,035 | +1359.5% |
| Cash at bank and in hand | 54/58 | €13,992 | €95,122 | +€81,130 | +579.8% |
| Deferred charges and accrued income | 490/1 | €7,074 | €10,390 | +€3,316 | +46.9% |
| Total equity and liabilities | 10/49 | €213,071 | €604,718 | +€391,648 | +183.8% |
| Equity | 10/15 | €167,561 | €197,030 | +€29,468 | +17.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €147,561 | €177,030 | +€29,468 | +20.0% |
| Distributable reserves | 133 | €147,561 | €177,030 | +€29,468 | +20.0% |
| Amounts payable | 17/49 | €45,510 | €407,689 | +€362,179 | +795.8% |
| Amounts payable after more than one year | 17 | €8,239 | €295,455 | +€287,216 | +3486.1% |
| Financial debts | 170/4 | €8,239 | €295,455 | +€287,216 | +3486.1% |
| Amounts payable within one year | 42/48 | €36,166 | €111,129 | +€74,963 | +207.3% |
| Current portion of amounts payable after more than one year | 42 | €5,104 | €18,914 | +€13,810 | +270.6% |
| Trade debts | 44 | €5,241 | €73,606 | +€68,365 | +1304.3% |
| Suppliers | 440/4 | €5,241 | €73,606 | +€68,365 | +1304.3% |
| Taxes, remuneration and social security | 45 | €12,952 | €12,486 | -€467 | -3.6% |
| Taxes | 450/3 | €6,943 | €5,486 | -€1,457 | -21.0% |
| Remuneration and social security | 454/9 | €6,010 | €7,000 | +€990 | +16.5% |
| Other amounts payable | 47/48 | €12,868 | €6,122 | -€6,746 | -52.4% |
| Accrued charges and deferred income | 492/3 | €1,105 | €1,105 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €51,394 | €59,945 | +€8,551 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,708 | €19,132 | +€2,424 | +14.5% |
| Other operating charges | 640/8 | €2,577 | €3,872 | +€1,295 | +50.3% |
| Gross operating margin | 9900 | €89,083 | €121,000 | +€31,917 | +35.8% |
| Operating profit (loss) | 9901 | €18,404 | €38,051 | +€19,647 | +106.8% |
| Financial income | 75/76B | €2,613 | €3,132 | +€520 | +19.9% |
| Recurring financial income | 75 | €2,613 | €3,132 | +€520 | +19.9% |
| Financial charges | 65/66B | €500 | €2,197 | +€1,697 | +339.0% |
| Recurring financial charges | 65 | €500 | €2,197 | +€1,697 | +339.0% |
| Profit (loss) for the period before taxes | 9903 | €20,517 | €38,986 | +€18,470 | +90.0% |
| Income taxes | 67/77 | €7,583 | €9,518 | +€1,935 | +25.5% |
| Profit (loss) for the period | 9904 | €12,934 | €29,468 | +€16,535 | +127.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,934 | €29,468 | +€16,535 | +127.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.