VANHELDEN PETER: 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.
VANHELDEN PETER
Largest movements
- Financial fixed assets +€50,000
new in 2025: €50,000
- Cash -€40,941
down €40,941 (-32.3%), from €126,889 to €85,948
mainly Investment in fixed assets (net) (-€61,121) and Receivables within one year (-€20,583)
- Receivables within one year +€20,583
up €20,583 (+143.1%), from €14,381 to €34,964
- Tangible fixed assets +€7,283
up €7,283 (+163.9%), from €4,443 to €11,727
of which Land and buildings: +€4,754
- Reserves +€40,387
up €40,387 (+18.5%), from €218,420 to €258,807
- Gross operating margin -€20,214
down €20,214 (-26.0%), from €77,621 to €57,407
- Taxes -€5,410
down €5,410 (-24.4%), from €22,204 to €16,795
- Financial income +€1,583
up €1,583 (+52.7%), from €3,002 to €4,585
- Financial charges -€1,249
down €1,249 (-87.1%), from €1,434 to €185
- Depreciation +€1,184
up €1,184 (+44.6%), from €2,653 to €3,837
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 | €231,716 | €267,043 | +€35,327 | +15.2% |
| Fixed assets | 21/28 | €4,443 | €61,727 | +€57,283 | +1289.3% |
| Tangible fixed assets | 22/27 | €4,443 | €11,727 | +€7,283 | +163.9% |
| Land and buildings | 22 | €475 | €5,229 | +€4,754 | +1000.4% |
| Furniture and vehicles | 24 | €3,163 | €6,488 | +€3,325 | +105.1% |
| Other tangible fixed assets | 26 | €805 | €9 | -€796 | -98.9% |
| Financial fixed assets | 28 | - | €50,000 | +€50,000 | |
| Current assets | 29/58 | €227,272 | €205,316 | -€21,956 | -9.7% |
| Amounts receivable within one year | 40/41 | €14,381 | €34,964 | +€20,583 | +143.1% |
| Other amounts receivable | 41 | €14,381 | €34,964 | +€20,583 | +143.1% |
| Current investments | 50/53 | €82,628 | €82,868 | +€240 | +0.3% |
| Cash at bank and in hand | 54/58 | €126,889 | €85,948 | -€40,941 | -32.3% |
| Deferred charges and accrued income | 490/1 | €3,375 | €1,537 | -€1,839 | -54.5% |
| Total equity and liabilities | 10/49 | €231,716 | €267,043 | +€35,327 | +15.2% |
| Equity | 10/15 | €220,420 | €260,807 | +€40,387 | +18.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €218,420 | €258,807 | +€40,387 | +18.5% |
| Distributable reserves | 133 | €218,420 | €258,807 | +€40,387 | +18.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,295 | €6,235 | -€5,060 | -44.8% |
| Amounts payable after more than one year | 17 | €2,348 | €0 | -€2,348 | -100.0% |
| Other amounts payable | 178/9 | €2,348 | €0 | -€2,348 | -100.0% |
| Amounts payable within one year | 42/48 | €8,947 | €6,235 | -€2,712 | -30.3% |
| Trade debts | 44 | €3,537 | €2,197 | -€1,341 | -37.9% |
| Suppliers | 440/4 | €3,537 | €2,197 | -€1,341 | -37.9% |
| Taxes, remuneration and social security | 45 | €5,409 | €4,039 | -€1,371 | -25.3% |
| Taxes | 450/3 | €5,409 | €4,039 | -€1,371 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,653 | €3,837 | +€1,184 | +44.6% |
| Other operating charges | 640/8 | €765 | €788 | +€23 | +3.0% |
| Gross operating margin | 9900 | €77,621 | €57,407 | -€20,214 | -26.0% |
| Operating profit (loss) | 9901 | €74,202 | €52,782 | -€21,421 | -28.9% |
| Financial income | 75/76B | €3,002 | €4,585 | +€1,583 | +52.7% |
| Recurring financial income | 75 | €3,002 | €4,585 | +€1,583 | +52.7% |
| Financial charges | 65/66B | €1,434 | €185 | -€1,249 | -87.1% |
| Recurring financial charges | 65 | €1,434 | €185 | -€1,249 | -87.1% |
| Profit (loss) for the period before taxes | 9903 | €75,771 | €57,182 | -€18,589 | -24.5% |
| Income taxes | 67/77 | €22,204 | €16,795 | -€5,410 | -24.4% |
| Profit (loss) for the period | 9904 | €53,566 | €40,387 | -€13,179 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,566 | €40,387 | -€13,179 | -24.6% |
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.