VANHEETRA: 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.
VANHEETRA
Largest movements
- Tangible fixed assets -€30,013
down €30,013 (-27.2%), from €110,536 to €80,523
of which Leasing and similar rights: -€32,207
- Receivables within one year -€7,778
down €7,778 (-47.0%), from €16,565 to €8,787
of which Trade receivables: -€11,520
- Debts after one year -€27,848
down €27,848 (-40.6%), from €68,579 to €40,731
- Tax, wage and social debts -€8,519
down €8,519 (-64.0%), from €13,305 to €4,785
- Trade debts -€2,642
down €2,642 (-21.0%), from €12,580 to €9,938
- Gross operating margin -€9,786
down €9,786 (-14.5%), from €67,298 to €57,512
- Other operating charges -€3,101
down €3,101 (-15.8%), from €19,682 to €16,581
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 | €182,075 | €143,119 | -€38,956 | -21.4% |
| Fixed assets | 21/28 | €110,536 | €80,523 | -€30,013 | -27.2% |
| Tangible fixed assets | 22/27 | €110,536 | €80,523 | -€30,013 | -27.2% |
| Land and buildings | 22 | €1,269 | €1,135 | -€134 | -10.5% |
| Plant, machinery and equipment | 23 | €783 | €1,621 | +€838 | +106.9% |
| Furniture and vehicles | 24 | €4,001 | €4,552 | +€551 | +13.8% |
| Leasing and similar rights | 25 | €104,482 | €72,276 | -€32,207 | -30.8% |
| Other tangible fixed assets | 26 | - | €938 | +€938 | |
| Current assets | 29/58 | €71,539 | €62,596 | -€8,943 | -12.5% |
| Amounts receivable within one year | 40/41 | €16,565 | €8,787 | -€7,778 | -47.0% |
| Trade receivables | 40 | €13,416 | €1,895 | -€11,520 | -85.9% |
| Other amounts receivable | 41 | €3,150 | €6,891 | +€3,742 | +118.8% |
| Cash at bank and in hand | 54/58 | €48,362 | €48,787 | +€425 | +0.9% |
| Deferred charges and accrued income | 490/1 | €6,611 | €5,022 | -€1,590 | -24.0% |
| Total equity and liabilities | 10/49 | €182,075 | €143,119 | -€38,956 | -21.4% |
| Equity | 10/15 | €59,942 | €59,552 | -€391 | -0.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €57,442 | €57,052 | -€391 | -0.7% |
| Distributable reserves | 133 | €57,442 | €57,052 | -€391 | -0.7% |
| Amounts payable | 17/49 | €122,132 | €83,567 | -€38,565 | -31.6% |
| Amounts payable after more than one year | 17 | €68,579 | €40,731 | -€27,848 | -40.6% |
| Financial debts | 170/4 | €68,579 | €40,731 | -€27,848 | -40.6% |
| Amounts payable within one year | 42/48 | €53,118 | €42,571 | -€10,547 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €27,233 | €27,848 | +€614 | +2.3% |
| Trade debts | 44 | €12,580 | €9,938 | -€2,642 | -21.0% |
| Suppliers | 440/4 | €12,580 | €9,938 | -€2,642 | -21.0% |
| Taxes, remuneration and social security | 45 | €13,305 | €4,785 | -€8,519 | -64.0% |
| Taxes | 450/3 | €13,305 | €4,785 | -€8,519 | -64.0% |
| Accrued charges and deferred income | 492/3 | €435 | €265 | -€170 | -39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,393 | €34,564 | +€172 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €372 | +€372 | |
| Other operating charges | 640/8 | €19,682 | €16,581 | -€3,101 | -15.8% |
| Gross operating margin | 9900 | €67,298 | €57,512 | -€9,786 | -14.5% |
| Operating profit (loss) | 9901 | €13,223 | €5,994 | -€7,229 | -54.7% |
| Financial income | 75/76B | €120 | €296 | +€176 | +147.4% |
| Recurring financial income | 75 | €120 | €296 | +€176 | +147.4% |
| Financial charges | 65/66B | €3,077 | €2,973 | -€104 | -3.4% |
| Recurring financial charges | 65 | €3,077 | €2,973 | -€104 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €10,265 | €3,317 | -€6,948 | -67.7% |
| Income taxes | 67/77 | €3,545 | €3,708 | +€163 | +4.6% |
| Profit (loss) for the period | 9904 | €6,720 | -€391 | -€7,111 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,720 | -€391 | -€7,111 |
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.