VANHEE INVEST: 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 INVEST
Largest movements
- Stocks and contracts -€55,572
down €55,572 (-3.4%), from €1.7m to €1.6m
- Other debts -€97,290
down €97,290 (-35.6%), from €273,572 to €176,282
- Gross operating margin +€29,813
up €29,813 (+64.9%), from €45,906 to €75,720
- Financial charges -€10,305
down €10,305 (-19.4%), from €53,148 to €42,843
- Taxes +€6,411
up €6,411, from €0 to €6,411
- Other operating charges +€782
up €782 (+14.8%), from €5,291 to €6,073
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 | €2,219,557 | €2,156,137 | -€63,420 | -2.9% |
| Fixed assets | 21/28 | €54,600 | €54,600 | = | 0.0% |
| Tangible fixed assets | 22/27 | €29,600 | €29,600 | = | 0.0% |
| Land and buildings | 22 | €29,600 | €29,600 | = | 0.0% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €2,164,957 | €2,101,536 | -€63,420 | -2.9% |
| Stocks and contracts in progress | 3 | €1,658,437 | €1,602,865 | -€55,572 | -3.4% |
| Stocks | 30/36 | €1,658,437 | €1,602,865 | -€55,572 | -3.4% |
| Amounts receivable within one year | 40/41 | €167,854 | €168,762 | +€908 | +0.5% |
| Other amounts receivable | 41 | €167,854 | €168,762 | +€908 | +0.5% |
| Cash at bank and in hand | 54/58 | €338,665 | €329,909 | -€8,756 | -2.6% |
| Total equity and liabilities | 10/49 | €2,219,557 | €2,156,137 | -€63,420 | -2.9% |
| Equity | 10/15 | €1,038,275 | €1,059,837 | +€21,562 | +2.1% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €945,315 | €966,877 | +€21,562 | +2.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,657 | €2,657 | = | 0.0% |
| Distributable reserves | 133 | €942,658 | €964,221 | +€21,562 | +2.3% |
| Amounts payable | 17/49 | €1,181,282 | €1,096,299 | -€84,982 | -7.2% |
| Amounts payable within one year | 42/48 | €1,178,572 | €1,094,036 | -€84,535 | -7.2% |
| Financial debts | 43 | €905,000 | €905,000 | = | 0.0% |
| Credit institutions | 430/8 | €905,000 | €905,000 | = | 0.0% |
| Trade debts | 44 | €0 | €6,158 | +€6,158 | |
| Suppliers | 440/4 | €0 | €6,158 | +€6,158 | |
| Taxes, remuneration and social security | 45 | - | €6,596 | +€6,596 | |
| Taxes | 450/3 | - | €6,596 | +€6,596 | |
| Other amounts payable | 47/48 | €273,572 | €176,282 | -€97,290 | -35.6% |
| Accrued charges and deferred income | 492/3 | €2,710 | €2,263 | -€447 | -16.5% |
| Other operating charges | 640/8 | €5,291 | €6,073 | +€782 | +14.8% |
| Gross operating margin | 9900 | €45,906 | €75,720 | +€29,813 | +64.9% |
| Operating profit (loss) | 9901 | €40,615 | €69,647 | +€29,032 | +71.5% |
| Financial income | 75/76B | €854 | €1,170 | +€315 | +36.9% |
| Recurring financial income | 75 | €854 | €1,170 | +€315 | +36.9% |
| Financial charges | 65/66B | €53,148 | €42,843 | -€10,305 | -19.4% |
| Recurring financial charges | 65 | €53,148 | €42,843 | -€10,305 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,679 | €27,973 | +€39,652 | |
| Income taxes | 67/77 | €0 | €6,411 | +€6,411 | |
| Profit (loss) for the period | 9904 | -€11,679 | €21,562 | +€33,241 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,679 | €21,562 | +€33,241 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.