Vanhee Management: what changed
Two fiscal 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 Management
Largest movements
- Tangible fixed assets +€10,198
up €10,198 (+75.5%), from €13,512 to €23,710
of which Furniture and vehicles: +€7,032
- Receivables within one year +€9,947
up €9,947 (+437.0%), from €2,276 to €12,223
- Cash -€4,145
down €4,145 (-16.7%), from €24,889 to €20,744
mainly Investment in fixed assets (net) (-€12,347) and Receivables within one year (-€9,947)
- Tax, wage and social debts +€9,166
up €9,166 (+83.3%), from €11,003 to €20,169
of which Taxes: +€9,152
- Profit (loss) carried forward +€5,245
new in 2025: €5,245
- Other debts +€3,674
new in 2025: €3,674
- Trade debts -€2,076
down €2,076 (-33.1%), from €6,274 to €4,197
- Taxes +€1,999
up €1,999 (+62.0%), from €3,222 to €5,221
- Depreciation +€1,581
up €1,581 (+278.2%), from €568 to €2,149
- Gross operating margin +€1,225
up €1,225 (+9.3%), from €13,229 to €14,454
- Other operating charges +€770
up €770 (+132.5%), from €581 to €1,351
- Financial charges +€434
up €434 (+748.6%), from €58 to €492
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 | €40,712 | €56,737 | +€16,025 | +39.4% |
| Fixed assets | 21/28 | €13,512 | €23,710 | +€10,198 | +75.5% |
| Tangible fixed assets | 22/27 | €13,512 | €23,710 | +€10,198 | +75.5% |
| Furniture and vehicles | 24 | €10,761 | €17,793 | +€7,032 | +65.3% |
| Other tangible fixed assets | 26 | €2,751 | €5,917 | +€3,166 | +115.1% |
| Current assets | 29/58 | €27,200 | €33,026 | +€5,827 | +21.4% |
| Amounts receivable within one year | 40/41 | €2,276 | €12,223 | +€9,947 | +437.0% |
| Trade receivables | 40 | €2,276 | €12,223 | +€9,947 | +437.0% |
| Cash at bank and in hand | 54/58 | €24,889 | €20,744 | -€4,145 | -16.7% |
| Deferred charges and accrued income | 490/1 | €35 | €60 | +€25 | +72.0% |
| Total equity and liabilities | 10/49 | €40,712 | €56,737 | +€16,025 | +39.4% |
| Equity | 10/15 | €23,431 | €28,676 | +€5,245 | +22.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €19,431 | €19,431 | = | 0.0% |
| Distributable reserves | 133 | €19,431 | €19,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €5,245 | +€5,245 | |
| Amounts payable | 17/49 | €17,281 | €28,061 | +€10,780 | +62.4% |
| Amounts payable within one year | 42/48 | €17,276 | €28,041 | +€10,764 | +62.3% |
| Trade debts | 44 | €6,274 | €4,197 | -€2,076 | -33.1% |
| Suppliers | 440/4 | €6,274 | €4,197 | -€2,076 | -33.1% |
| Taxes, remuneration and social security | 45 | €11,003 | €20,169 | +€9,166 | +83.3% |
| Taxes | 450/3 | €8,870 | €18,023 | +€9,152 | +103.2% |
| Remuneration and social security | 454/9 | €2,132 | €2,146 | +€14 | +0.7% |
| Other amounts payable | 47/48 | - | €3,674 | +€3,674 | |
| Accrued charges and deferred income | 492/3 | €5 | €20 | +€16 | +321.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €568 | €2,149 | +€1,581 | +278.2% |
| Other operating charges | 640/8 | €581 | €1,351 | +€770 | +132.5% |
| Gross operating margin | 9900 | €13,229 | €14,454 | +€1,225 | +9.3% |
| Operating profit (loss) | 9901 | €12,080 | €10,954 | -€1,126 | -9.3% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €58 | €492 | +€434 | +748.6% |
| Recurring financial charges | 65 | €58 | €492 | +€434 | +748.6% |
| Profit (loss) for the period before taxes | 9903 | €12,022 | €10,465 | -€1,556 | -12.9% |
| Income taxes | 67/77 | €3,222 | €5,221 | +€1,999 | +62.0% |
| Profit (loss) for the period | 9904 | €8,800 | €5,245 | -€3,555 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,800 | €5,245 | -€3,555 | -40.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.