Vanhees Elcotech: 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.
Vanhees Elcotech
Largest movements
- Tangible fixed assets -€11,486
down €11,486 (-40.4%), from €28,423 to €16,938
of which Furniture and vehicles: -€11,486
- Stocks and contracts +€4,657
up €4,657 (+128.4%), from €3,627 to €8,283
- Cash +€2,011
up €2,011 (+7.8%), from €25,824 to €27,835
mainly Depreciation (+€11,486) and Trade debts (+€3,938)
- Deferred charges and accrued income +€700
up €700 (+210.9%), from €332 to €1,033
- Reserves -€11,460
down €11,460 (-22.5%), from €50,888 to €39,428
- Trade debts +€3,938
up €3,938 (+180.7%), from €2,179 to €6,117
- Other debts +€3,594
up €3,594 (+66.5%), from €5,405 to €8,999
- Gross operating margin -€5,463
down €5,463 (-54.2%), from €10,071 to €4,608
- Depreciation -€369
down €369 (-3.1%), from €11,855 to €11,486
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 | €66,552 | €63,000 | -€3,553 | -5.3% |
| Fixed assets | 21/28 | €28,423 | €16,938 | -€11,486 | -40.4% |
| Tangible fixed assets | 22/27 | €28,423 | €16,938 | -€11,486 | -40.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €28,423 | €16,938 | -€11,486 | -40.4% |
| Current assets | 29/58 | €38,129 | €46,062 | +€7,933 | +20.8% |
| Stocks and contracts in progress | 3 | €3,627 | €8,283 | +€4,657 | +128.4% |
| Stocks | 30/36 | €3,627 | €8,283 | +€4,657 | +128.4% |
| Amounts receivable within one year | 40/41 | €8,346 | €8,911 | +€565 | +6.8% |
| Trade receivables | 40 | €5,498 | €8,081 | +€2,584 | +47.0% |
| Other amounts receivable | 41 | €2,849 | €830 | -€2,019 | -70.9% |
| Cash at bank and in hand | 54/58 | €25,824 | €27,835 | +€2,011 | +7.8% |
| Deferred charges and accrued income | 490/1 | €332 | €1,033 | +€700 | +210.9% |
| Total equity and liabilities | 10/49 | €66,552 | €63,000 | -€3,553 | -5.3% |
| Equity | 10/15 | €58,968 | €47,508 | -€11,460 | -19.4% |
| Contributions | 10/11 | €8,080 | €8,080 | = | 0.0% |
| Reserves | 13 | €50,888 | €39,428 | -€11,460 | -22.5% |
| Distributable reserves | 133 | €50,888 | €39,428 | -€11,460 | -22.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €7,584 | €15,491 | +€7,907 | +104.3% |
| Amounts payable within one year | 42/48 | €7,584 | €15,491 | +€7,907 | +104.3% |
| Trade debts | 44 | €2,179 | €6,117 | +€3,938 | +180.7% |
| Suppliers | 440/4 | €2,179 | €6,117 | +€3,938 | +180.7% |
| Taxes, remuneration and social security | 45 | - | €375 | +€375 | |
| Taxes | 450/3 | - | €375 | +€375 | |
| Other amounts payable | 47/48 | €5,405 | €8,999 | +€3,594 | +66.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,855 | €11,486 | -€369 | -3.1% |
| Other operating charges | 640/8 | €986 | €1,072 | +€87 | +8.8% |
| Gross operating margin | 9900 | €10,071 | €4,608 | -€5,463 | -54.2% |
| Operating profit (loss) | 9901 | -€2,770 | -€7,950 | -€5,180 | -187.0% |
| Financial income | 75/76B | €0 | €5 | +€5 | |
| Recurring financial income | 75 | €0 | €5 | +€5 | |
| Financial charges | 65/66B | €140 | €139 | -€1 | -0.8% |
| Recurring financial charges | 65 | €140 | €139 | -€1 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,910 | -€8,084 | -€5,174 | -177.8% |
| Income taxes | 67/77 | €170 | €176 | +€6 | +3.6% |
| Profit (loss) for the period | 9904 | -€3,080 | -€8,260 | -€5,180 | -168.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,080 | -€8,260 | -€5,180 | -168.1% |
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 9 October 2026 via checked.be.