VANHAVERBEKE PETER: 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 PETER
Largest movements
- Current investments +€44,875
up €44,875 (+36.7%), from €122,200 to €167,075
- Tangible fixed assets -€13,097
down €13,097 (-33.7%), from €38,821 to €25,724
of which Furniture and vehicles: -€12,862
- Intangible fixed assets -€6,000
down €6,000 (-100.0%), from €6,000 to €0
- Cash +€4,307
up €4,307 (+14.6%), from €29,480 to €33,787
mainly Net result for the year (+€33,871) and Depreciation (+€19,097)
- Reserves +€40,487
up €40,487 (+22.8%), from €177,489 to €217,976
- Profit (loss) carried forward -€8,282
down €8,282 (-100.0%), from €8,282 to €0
- Tax, wage and social debts -€4,089
down €4,089 (-78.0%), from €5,243 to €1,154
- Other debts +€2,684
up €2,684 (+434.7%), from €618 to €3,302
- Gross operating margin -€6,903
down €6,903 (-9.5%), from €72,945 to €66,042
- Taxes -€1,691
down €1,691 (-11.2%), from €15,064 to €13,373
- Depreciation -€929
down €929 (-4.6%), from €20,026 to €19,097
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 | €198,496 | €229,844 | +€31,347 | +15.8% |
| Fixed assets | 21/28 | €44,821 | €25,724 | -€19,097 | -42.6% |
| Intangible fixed assets | 21 | €6,000 | €0 | -€6,000 | -100.0% |
| Tangible fixed assets | 22/27 | €38,821 | €25,724 | -€13,097 | -33.7% |
| Furniture and vehicles | 24 | €38,586 | €25,724 | -€12,862 | -33.3% |
| Other tangible fixed assets | 26 | €235 | €0 | -€235 | -99.9% |
| Current assets | 29/58 | €153,675 | €204,119 | +€50,444 | +32.8% |
| Amounts receivable within one year | 40/41 | €1,995 | €2,280 | +€284 | +14.3% |
| Trade receivables | 40 | €1,995 | €2,280 | +€284 | +14.3% |
| Current investments | 50/53 | €122,200 | €167,075 | +€44,875 | +36.7% |
| Cash at bank and in hand | 54/58 | €29,480 | €33,787 | +€4,307 | +14.6% |
| Deferred charges and accrued income | 490/1 | - | €977 | +€977 | |
| Total equity and liabilities | 10/49 | €198,496 | €229,844 | +€31,347 | +15.8% |
| Equity | 10/15 | €191,971 | €224,176 | +€32,205 | +16.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €177,489 | €217,976 | +€40,487 | +22.8% |
| Distributable reserves | 133 | €177,489 | €217,976 | +€40,487 | +22.8% |
| Profit (loss) carried forward | 14 | €8,282 | €0 | -€8,282 | -100.0% |
| Amounts payable | 17/49 | €6,525 | €5,667 | -€858 | -13.1% |
| Amounts payable within one year | 42/48 | €6,525 | €5,547 | -€978 | -15.0% |
| Trade debts | 44 | €665 | €1,092 | +€427 | +64.3% |
| Suppliers | 440/4 | €665 | €1,092 | +€427 | +64.3% |
| Taxes, remuneration and social security | 45 | €5,243 | €1,154 | -€4,089 | -78.0% |
| Taxes | 450/3 | €5,243 | €1,154 | -€4,089 | -78.0% |
| Other amounts payable | 47/48 | €618 | €3,302 | +€2,684 | +434.7% |
| Accrued charges and deferred income | 492/3 | - | €120 | +€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,026 | €19,097 | -€929 | -4.6% |
| Other operating charges | 640/8 | €585 | €696 | +€111 | +19.0% |
| Gross operating margin | 9900 | €72,945 | €66,042 | -€6,903 | -9.5% |
| Operating profit (loss) | 9901 | €52,334 | €46,249 | -€6,085 | -11.6% |
| Financial income | 75/76B | €442 | €1,065 | +€623 | +140.9% |
| Recurring financial income | 75 | €442 | €1,065 | +€623 | +140.9% |
| Financial charges | 65/66B | €66 | €70 | +€4 | +5.6% |
| Recurring financial charges | 65 | €66 | €70 | +€4 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €52,710 | €47,244 | -€5,466 | -10.4% |
| Income taxes | 67/77 | €15,064 | €13,373 | -€1,691 | -11.2% |
| Profit (loss) for the period | 9904 | €37,646 | €33,871 | -€3,775 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,646 | €33,871 | -€3,775 | -10.0% |
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 10 October 2026 via checked.be.