VANHEEDE POLYMERS & COMPOUNDS: 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.
What changed
VANHEEDE POLYMERS & COMPOUNDS
NACE 38.210, Materials recovery from waste
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2.0m
2024 · -€2.6m+€608,013
Equity
-€3.3m
2024 · -€1.6m-€1.7m
Cash
€220,890
2024 · €300,066-€79,176
Balance sheet total
€11.0m
2024 · €11.6m-€593,436
Largest movements
Assets
- Tangible fixed assets -€942,415
down €942,415 (-10.1%), from €9.4m to €8.4m
of which Plant, machinery and equipment: -€884,086
- Stocks and contracts +€478,235
up €478,235 (+90.0%), from €531,645 to €1.0m
Equity and liabilities
- Profit (loss) carried forward -€2.0m
down €2.0m (-40.6%), from -€4.8m to -€6.8m
- Trade debts +€1.5m
up €1.5m (+75.0%), from €1.9m to €3.4m
- Debts after one year -€531,786
down €531,786 (-5.2%), from €10.2m to €9.6m
of which Financial debts: -€829,886
- Investment grants +€285,247
up €285,247 (+83.3%), from €342,296 to €627,543
Income statement
- Gross operating margin +€1.3m
up €1.3m, from -€182,026 to €1.1m
- Staff costs +€663,801
up €663,801 (+86.5%), from €767,034 to €1.4m
- Financial income +€57,171
up €57,171 (+100%), from €57,071 to €114,242
- Depreciation +€50,329
up €50,329 (+3.5%), from €1.4m to €1.5m
- Financial charges +€47,062
up €47,062 (+20.6%), from €228,623 to €275,685
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.
Result 2024
-€2.6m
Gross operating margin
+€1.3m
Staff costs
-€663,801
Depreciation
-€50,329
Other operating charges
-€129
Financial income
+€57,171
Financial charges
-€47,062
Taxes
-€39
Result 2025
-€2.0m
raises the resultlowers the result
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.
From operations
+€643,230
Investment
-€499,073
Financing
-€223,333
Cash 2024
€300,066
From operations (derived)
+€643,230
Net result for the year
-€2.0m
Depreciation
+€1.5m
Stocks and contracts
-€478,235
Receivables within one year
+€13,733
Deferred charges and accrued income
+€1,671
Trade debts
+€1.5m
Tax, wage and social debts
+€60,899
Accrued charges and deferred income
+€66,988
Investment (derived)
-€499,073
Investment in fixed assets (net)
-€499,073
Financing
-€223,333
Debts after one year
-€531,786
Current portion of long-term debt
+€23,207
Contributions, distributions and other
+€285,247
Cash 2025
€220,890
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,550,960 | €10,957,524 | -€593,436 | -5.1% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €9,495,706 | €8,518,616 | -€977,090 | -10.3% |
| Intangible fixed assets | 21 | €126,476 | €91,801 | -€34,675 | -27.4% |
| Tangible fixed assets | 22/27 | €9,367,229 | €8,424,815 | -€942,415 | -10.1% |
| Land and buildings | 22 | €47,836 | €32,770 | -€15,067 | -31.5% |
| Plant, machinery and equipment | 23 | €8,155,524 | €7,271,439 | -€884,086 | -10.8% |
| Furniture and vehicles | 24 | €182,469 | €139,206 | -€43,262 | -23.7% |
| Other tangible fixed assets | 26 | €981,400 | €981,400 | = | 0.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €2,055,254 | €2,438,909 | +€383,655 | +18.7% |
| Stocks and contracts in progress | 3 | €531,645 | €1,009,879 | +€478,235 | +90.0% |
| Stocks | 30/36 | €531,645 | €1,009,879 | +€478,235 | +90.0% |
| Amounts receivable within one year | 40/41 | €1,219,724 | €1,205,991 | -€13,733 | -1.1% |
| Trade receivables | 40 | €977,542 | €1,009,240 | +€31,697 | +3.2% |
| Other amounts receivable | 41 | €242,182 | €196,752 | -€45,430 | -18.8% |
| Cash at bank and in hand | 54/58 | €300,066 | €220,890 | -€79,176 | -26.4% |
| Deferred charges and accrued income | 490/1 | €3,819 | €2,148 | -€1,671 | -43.7% |
| Total equity and liabilities | 10/49 | €11,550,960 | €10,957,524 | -€593,436 | -5.1% |
| Equity | 10/15 | -€1,632,015 | -€3,298,751 | -€1.7m | -102% |
| Contributions | 10/11 | €812,400 | €812,400 | = | 0.0% |
| Revaluation surpluses | 12 | €881,400 | €881,400 | = | 0.0% |
| Reserves | 13 | €1,139,230 | €1,139,230 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,099,870 | €1,099,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,807,342 | -€6,759,324 | -€2.0m | -40.6% |
| Investment grants | 15 | €342,296 | €627,543 | +€285,247 | +83.3% |
| Amounts payable | 17/49 | €13,182,975 | €14,256,275 | +€1.1m | +8.1% |
| Amounts payable after more than one year | 17 | €10,166,351 | €9,634,564 | -€531,786 | -5.2% |
| Financial debts | 170/4 | €6,764,450 | €5,934,564 | -€829,886 | -12.3% |
| Other amounts payable | 178/9 | €3,401,901 | €3,700,000 | +€298,099 | +8.8% |
| Amounts payable within one year | 42/48 | €2,960,165 | €4,498,264 | +€1.5m | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €829,386 | €852,593 | +€23,207 | +2.8% |
| Trade debts | 44 | €1,939,059 | €3,393,052 | +€1.5m | +75.0% |
| Suppliers | 440/4 | €1,939,059 | €3,393,052 | +€1.5m | +75.0% |
| Taxes, remuneration and social security | 45 | €191,720 | €252,619 | +€60,899 | +31.8% |
| Taxes | 450/3 | €40,504 | €58,756 | +€18,252 | +45.1% |
| Remuneration and social security | 454/9 | €151,217 | €193,863 | +€42,647 | +28.2% |
| Accrued charges and deferred income | 492/3 | €56,459 | €123,446 | +€66,988 | +119% |
| Non-recurring operating income | 76A | €300,704 | €695,000 | +€394,296 | +131% |
| Remuneration, social security and pensions | 62 | €767,034 | €1,430,835 | +€663,801 | +86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,425,835 | €1,476,164 | +€50,329 | +3.5% |
| Other operating charges | 640/8 | €13,084 | €13,213 | +€129 | +1.0% |
| Gross operating margin | 9900 | -€182,026 | €1,130,177 | +€1.3m | |
| Operating profit (loss) | 9901 | -€2,387,979 | -€1,790,035 | +€597,944 | +25.0% |
| Financial income | 75/76B | €57,071 | €114,242 | +€57,171 | +100% |
| Recurring financial income | 75 | €57,071 | €114,242 | +€57,171 | +100% |
| Financial charges | 65/66B | €228,623 | €275,685 | +€47,062 | +20.6% |
| Recurring financial charges | 65 | €228,623 | €275,685 | +€47,062 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,559,531 | -€1,951,478 | +€608,053 | +23.8% |
| Income taxes | 67/77 | €464 | €504 | +€39 | +8.5% |
| Profit (loss) for the period | 9904 | -€2,559,995 | -€1,951,982 | +€608,013 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,559,995 | -€1,951,982 | +€608,013 | +23.8% |
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 13 October 2026 via checked.be.