Vanhee - Products: 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 - Products
Largest movements
- Receivables within one year +€32,138
up €32,138 (+59.9%), from €53,658 to €85,795
of which Other amounts receivable: +€26,348
- Cash -€13,877
down €13,877 (-55.7%), from €24,935 to €11,059
mainly Receivables within one year (-€32,138) and Investment in fixed assets (net) (-€15,336)
- Stocks and contracts +€3,090
up €3,090 (+13.5%), from €22,881 to €25,971
- Reserves +€17,336
up €17,336 (+16.1%), from €107,494 to €124,830
of which Distributable reserves: +€17,336
- Tax, wage and social debts +€5,544
up €5,544 (+54.2%), from €10,226 to €15,770
of which Remuneration and social security: +€3,980
- Gross operating margin +€22,200
up €22,200 (+97.8%), from €22,705 to €44,905
- Taxes +€4,642
up €4,642 (+81.8%), from €5,677 to €10,319
- Depreciation +€920
up €920 (+6.9%), from €13,401 to €14,321
- Financial income +€668
up €668 (+501.2%), from €133 to €802
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 | €166,267 | €189,714 | +€23,447 | +14.1% |
| Fixed assets | 21/28 | €64,793 | €65,807 | +€1,014 | +1.6% |
| Tangible fixed assets | 22/27 | €64,693 | €65,707 | +€1,014 | +1.6% |
| Land and buildings | 22 | €55,334 | €57,639 | +€2,305 | +4.2% |
| Plant, machinery and equipment | 23 | - | €1,944 | +€1,944 | |
| Furniture and vehicles | 24 | €9,359 | €6,124 | -€3,235 | -34.6% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €101,474 | €123,907 | +€22,433 | +22.1% |
| Stocks and contracts in progress | 3 | €22,881 | €25,971 | +€3,090 | +13.5% |
| Stocks | 30/36 | €22,881 | €25,971 | +€3,090 | +13.5% |
| Amounts receivable within one year | 40/41 | €53,658 | €85,795 | +€32,138 | +59.9% |
| Trade receivables | 40 | €20,544 | €26,333 | +€5,789 | +28.2% |
| Other amounts receivable | 41 | €33,114 | €59,462 | +€26,348 | +79.6% |
| Cash at bank and in hand | 54/58 | €24,935 | €11,059 | -€13,877 | -55.7% |
| Deferred charges and accrued income | 490/1 | - | €1,082 | +€1,082 | |
| Total equity and liabilities | 10/49 | €166,267 | €189,714 | +€23,447 | +14.1% |
| Equity | 10/15 | €119,894 | €137,230 | +€17,336 | +14.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €107,494 | €124,830 | +€17,336 | +16.1% |
| Non-distributable reserves | 130/1 | €2,003 | €2,003 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,003 | €2,003 | = | 0.0% |
| Distributable reserves | 133 | €105,491 | €122,827 | +€17,336 | +16.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €46,373 | €52,483 | +€6,110 | +13.2% |
| Amounts payable within one year | 42/48 | €46,373 | €52,483 | +€6,110 | +13.2% |
| Financial debts | 43 | €1,924 | €3,632 | +€1,708 | +88.7% |
| Credit institutions | 430/8 | €1,924 | €0 | -€1,924 | -100.0% |
| Other loans | 439 | - | €3,632 | +€3,632 | |
| Trade debts | 44 | €34,222 | €33,081 | -€1,141 | -3.3% |
| Suppliers | 440/4 | €34,222 | €33,081 | -€1,141 | -3.3% |
| Taxes, remuneration and social security | 45 | €10,226 | €15,770 | +€5,544 | +54.2% |
| Taxes | 450/3 | €10,226 | €11,790 | +€1,564 | +15.3% |
| Remuneration and social security | 454/9 | - | €3,980 | +€3,980 | |
| Non-recurring operating income | 76A | - | €5,895 | +€5,895 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,401 | €14,321 | +€920 | +6.9% |
| Other operating charges | 640/8 | €2,646 | €2,942 | +€296 | +11.2% |
| Gross operating margin | 9900 | €22,705 | €44,905 | +€22,200 | +97.8% |
| Operating profit (loss) | 9901 | €6,657 | €27,641 | +€20,984 | +315.2% |
| Financial income | 75/76B | €133 | €802 | +€668 | +501.2% |
| Recurring financial income | 75 | €133 | €802 | +€668 | +501.2% |
| Financial charges | 65/66B | €811 | €788 | -€23 | -2.8% |
| Recurring financial charges | 65 | €811 | €788 | -€23 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €5,980 | €27,655 | +€21,675 | +362.5% |
| Income taxes | 67/77 | €5,677 | €10,319 | +€4,642 | +81.8% |
| Profit (loss) for the period | 9904 | €303 | €17,336 | +€17,034 | +5625.6% |
| Profit (loss) for the period to be appropriated | 9905 | €303 | €17,336 | +€17,034 | +5625.6% |
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 6 October 2026 via checked.be.