VANHEE ENGINEERING: 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.
VANHEE ENGINEERING
Largest movements
- Receivables after one year -€121,000
down €121,000 (-21.4%), from €564,594 to €443,594
- Receivables within one year +€8,593
up €8,593 (+118.2%), from €7,269 to €15,863
- Reserves -€100,000
down €100,000 (-18.6%), from €536,859 to €436,859
- Tax, wage and social debts -€26,436
down €26,436 (-90.6%), from €29,171 to €2,735
- Trade debts +€16,498
up €16,498 (+105.3%), from €15,661 to €32,159
- Gross operating margin -€175,509
down €175,509, from €129,732 to -€45,778
- Write-downs -€101,048
down €101,048, from €50,524 to -€50,524
- Taxes -€26,436
down €26,436 (-90.6%), from €29,171 to €2,735
- Financial income -€1,579
down €1,579 (-19.1%), from €8,255 to €6,676
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 | €608,031 | €500,451 | -€107,580 | -17.7% |
| Fixed assets | 21/28 | €1,973 | €1,119 | -€854 | -43.3% |
| Tangible fixed assets | 22/27 | €1,847 | €993 | -€854 | -46.2% |
| Plant, machinery and equipment | 23 | €1,346 | €762 | -€585 | -43.4% |
| Furniture and vehicles | 24 | €500 | €231 | -€269 | -53.8% |
| Financial fixed assets | 28 | €126 | €126 | = | 0.0% |
| Current assets | 29/58 | €606,058 | €499,333 | -€106,726 | -17.6% |
| Amounts receivable after more than one year | 29 | €564,594 | €443,594 | -€121,000 | -21.4% |
| Other amounts receivable | 291 | €564,594 | €443,594 | -€121,000 | -21.4% |
| Amounts receivable within one year | 40/41 | €7,269 | €15,863 | +€8,593 | +118.2% |
| Other amounts receivable | 41 | €7,269 | €15,863 | +€8,593 | +118.2% |
| Cash at bank and in hand | 54/58 | €34,196 | €39,876 | +€5,681 | +16.6% |
| Total equity and liabilities | 10/49 | €608,031 | €500,451 | -€107,580 | -17.7% |
| Equity | 10/15 | €559,683 | €465,557 | -€94,126 | -16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €536,859 | €436,859 | -€100,000 | -18.6% |
| Distributable reserves | 133 | €536,859 | €436,859 | -€100,000 | -18.6% |
| Profit (loss) carried forward | 14 | €4,223 | €10,098 | +€5,874 | +139.1% |
| Amounts payable | 17/49 | €48,348 | €34,894 | -€13,454 | -27.8% |
| Amounts payable within one year | 42/48 | €48,348 | €34,894 | -€13,454 | -27.8% |
| Trade debts | 44 | €15,661 | €32,159 | +€16,498 | +105.3% |
| Suppliers | 440/4 | €15,661 | €32,159 | +€16,498 | +105.3% |
| Taxes, remuneration and social security | 45 | €29,171 | €2,735 | -€26,436 | -90.6% |
| Taxes | 450/3 | €29,171 | €2,735 | -€26,436 | -90.6% |
| Other amounts payable | 47/48 | €3,516 | - | -€3,516 | |
| Non-recurring operating income | 76A | - | €12,932 | +€12,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,476 | €854 | -€622 | -42.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €50,524 | -€50,524 | -€101,048 | |
| Other operating charges | 640/8 | €1,302 | €1,802 | +€500 | +38.4% |
| Gross operating margin | 9900 | €129,732 | -€45,778 | -€175,509 | |
| Operating profit (loss) | 9901 | €76,429 | €2,090 | -€74,339 | -97.3% |
| Financial income | 75/76B | €8,255 | €6,676 | -€1,579 | -19.1% |
| Recurring financial income | 75 | €8,255 | €6,676 | -€1,579 | -19.1% |
| Financial charges | 65/66B | €324 | €157 | -€167 | -51.4% |
| Recurring financial charges | 65 | €324 | €157 | -€167 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €84,360 | €8,609 | -€75,751 | -89.8% |
| Income taxes | 67/77 | €29,171 | €2,735 | -€26,436 | -90.6% |
| Profit (loss) for the period | 9904 | €55,189 | €5,874 | -€49,315 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,189 | €5,874 | -€49,315 | -89.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.