VANHAVERBEKE - DE PAEPE: 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.
VANHAVERBEKE - DE PAEPE
Largest movements
- Current investments +€270,000
up €270,000 (+20.0%), from €1.4m to €1.6m
- Tangible fixed assets -€29,500
down €29,500 (-23.2%), from €126,968 to €97,467
of which Furniture and vehicles: -€17,701
- Deferred charges and accrued income -€29,178
down €29,178 (-92.6%), from €31,504 to €2,327
- Cash -€25,081
down €25,081 (-15.7%), from €159,284 to €134,202
mainly Current investments (-€270,000) and Contributions, distributions and other (-€196,642)
- Receivables within one year +€24,872
up €24,872 (+95,330%), from €26 to €24,898
of which Trade receivables: +€20,900
- Reserves +€206,201
up €206,201 (+12.5%), from €1.6m to €1.9m
- Gross operating margin +€22,861
up €22,861 (+4.1%), from €562,371 to €585,232
- Financial income +€15,585
up €15,585 (+73.4%), from €21,240 to €36,825
- Taxes +€11,737
up €11,737 (+6.9%), from €170,918 to €182,655
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 | €1,667,782 | €1,878,894 | +€211,112 | +12.7% |
| Fixed assets | 21/28 | €126,968 | €97,467 | -€29,500 | -23.2% |
| Tangible fixed assets | 22/27 | €126,968 | €97,467 | -€29,500 | -23.2% |
| Plant, machinery and equipment | 23 | €63,542 | €51,742 | -€11,800 | -18.6% |
| Furniture and vehicles | 24 | €63,426 | €45,725 | -€17,701 | -27.9% |
| Current assets | 29/58 | €1,540,814 | €1,781,427 | +€240,613 | +15.6% |
| Amounts receivable within one year | 40/41 | €26 | €24,898 | +€24,872 | +95,330% |
| Trade receivables | 40 | - | €20,900 | +€20,900 | |
| Other amounts receivable | 41 | €26 | €3,998 | +€3,972 | +15,223% |
| Current investments | 50/53 | €1,350,000 | €1,620,000 | +€270,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €159,284 | €134,202 | -€25,081 | -15.7% |
| Deferred charges and accrued income | 490/1 | €31,504 | €2,327 | -€29,178 | -92.6% |
| Total equity and liabilities | 10/49 | €1,667,782 | €1,878,894 | +€211,112 | +12.7% |
| Equity | 10/15 | €1,654,232 | €1,860,432 | +€206,201 | +12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,648,032 | €1,854,232 | +€206,201 | +12.5% |
| Distributable reserves | 133 | €1,648,032 | €1,854,232 | +€206,201 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,550 | €18,462 | +€4,912 | +36.2% |
| Amounts payable within one year | 42/48 | €7,253 | €11,592 | +€4,339 | +59.8% |
| Trade debts | 44 | €1,610 | €4,767 | +€3,156 | +196% |
| Suppliers | 440/4 | €1,610 | €4,767 | +€3,156 | +196% |
| Taxes, remuneration and social security | 45 | €4,939 | €6,825 | +€1,886 | +38.2% |
| Taxes | 450/3 | €4,939 | €6,825 | +€1,886 | +38.2% |
| Other amounts payable | 47/48 | €703 | €0 | -€703 | -100% |
| Accrued charges and deferred income | 492/3 | €6,297 | €6,870 | +€573 | +9.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,790 | €34,474 | -€316 | -0.9% |
| Other operating charges | 640/8 | €1,893 | €1,971 | +€78 | +4.1% |
| Non-recurring operating charges | 66A | - | €66 | +€66 | |
| Gross operating margin | 9900 | €562,371 | €585,232 | +€22,861 | +4.1% |
| Operating profit (loss) | 9901 | €525,688 | €548,722 | +€23,034 | +4.4% |
| Financial income | 75/76B | €21,240 | €36,825 | +€15,585 | +73.4% |
| Recurring financial income | 75 | €21,240 | €36,825 | +€15,585 | +73.4% |
| Financial charges | 65/66B | €57 | €49 | -€8 | -14.6% |
| Recurring financial charges | 65 | €57 | €49 | -€8 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €546,870 | €585,498 | +€38,628 | +7.1% |
| Income taxes | 67/77 | €170,918 | €182,655 | +€11,737 | +6.9% |
| Profit (loss) for the period | 9904 | €375,952 | €402,843 | +€26,891 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €375,952 | €402,843 | +€26,891 | +7.2% |
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 31 October 2026 via checked.be.