VANHEMELEN GUY: 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.
VANHEMELEN GUY
Largest movements
- Tangible fixed assets +€964,032
up €964,032 (+86.7%), from €1.1m to €2.1m
of which Land and buildings: +€801,159
- Receivables within one year -€105,792
down €105,792 (-23.2%), from €455,343 to €349,551
of which Other amounts receivable: -€116,354
- Intangible fixed assets +€94,616
up €94,616 (+205.3%), from €46,092 to €140,708
- Cash -€82,734
down €82,734 (-96.1%), from €86,086 to €3,353
mainly Investment in fixed assets (net) (-€1.1m) and Trade debts (-€38,024)
- Debts after one year +€862,330
up €862,330 (+120.8%), from €714,102 to €1.6m
- Current portion of long-term debt +€59,216
up €59,216 (+114.0%), from €51,933 to €111,149
- Trade debts -€38,024
down €38,024 (-24.3%), from €156,328 to €118,304
- Other debts +€37,887
new in 2024: €37,887
- Depreciation +€24,578
up €24,578 (+59.5%), from €41,283 to €65,861
- Gross operating margin -€11,981
down €11,981 (-14.4%), from €83,224 to €71,243
- Financial charges +€9,230
up €9,230 (+52.6%), from €17,540 to €26,770
- Taxes -€7,012
down €7,012 (-98.3%), from €7,136 to €123
- Other operating charges +€6,739
up €6,739 (+252.7%), from €2,666 to €9,406
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,612,240 | €3,485,155 | +€872,915 | +33.4% |
| Fixed assets | 21/28 | €2,069,485 | €3,128,133 | +€1.1m | +51.2% |
| Intangible fixed assets | 21 | €46,092 | €140,708 | +€94,616 | +205.3% |
| Tangible fixed assets | 22/27 | €1,111,281 | €2,075,313 | +€964,032 | +86.7% |
| Land and buildings | 22 | €756,185 | €1,557,344 | +€801,159 | +105.9% |
| Plant, machinery and equipment | 23 | €313,594 | €369,632 | +€56,038 | +17.9% |
| Furniture and vehicles | 24 | €41,502 | €148,337 | +€106,835 | +257.4% |
| Financial fixed assets | 28 | €912,112 | €912,112 | = | 0.0% |
| Current assets | 29/58 | €542,755 | €357,022 | -€185,733 | -34.2% |
| Amounts receivable within one year | 40/41 | €455,343 | €349,551 | -€105,792 | -23.2% |
| Trade receivables | 40 | €105,445 | €116,007 | +€10,562 | +10.0% |
| Other amounts receivable | 41 | €349,898 | €233,544 | -€116,354 | -33.3% |
| Cash at bank and in hand | 54/58 | €86,086 | €3,353 | -€82,734 | -96.1% |
| Deferred charges and accrued income | 490/1 | €1,326 | €4,119 | +€2,793 | +210.6% |
| Total equity and liabilities | 10/49 | €2,612,240 | €3,485,155 | +€872,915 | +33.4% |
| Equity | 10/15 | €1,677,687 | €1,628,212 | -€49,475 | -2.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €117,492 | €117,492 | = | 0.0% |
| Reserves | 13 | €1,256,553 | €1,237,718 | -€18,835 | -1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,254,693 | €1,235,858 | -€18,835 | -1.5% |
| Profit (loss) carried forward | 14 | €291,243 | €260,603 | -€30,640 | -10.5% |
| Amounts payable | 17/49 | €934,553 | €1,856,943 | +€922,390 | +98.7% |
| Amounts payable after more than one year | 17 | €714,102 | €1,576,432 | +€862,330 | +120.8% |
| Financial debts | 170/4 | €714,102 | €1,576,432 | +€862,330 | +120.8% |
| Amounts payable within one year | 42/48 | €220,451 | €279,135 | +€58,685 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €51,933 | €111,149 | +€59,216 | +114.0% |
| Financial debts | 43 | €7,500 | €8,596 | +€1,096 | +14.6% |
| Credit institutions | 430/8 | €7,500 | €8,596 | +€1,096 | +14.6% |
| Trade debts | 44 | €156,328 | €118,304 | -€38,024 | -24.3% |
| Suppliers | 440/4 | €156,328 | €118,304 | -€38,024 | -24.3% |
| Taxes, remuneration and social security | 45 | €4,690 | €3,200 | -€1,490 | -31.8% |
| Taxes | 450/3 | €1,490 | - | -€1,490 | |
| Remuneration and social security | 454/9 | €3,200 | €3,200 | = | 0.0% |
| Other amounts payable | 47/48 | - | €37,887 | +€37,887 | |
| Accrued charges and deferred income | 492/3 | - | €1,375 | +€1,375 | |
| Non-recurring operating income | 76A | €34,000 | - | -€34,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,283 | €65,861 | +€24,578 | +59.5% |
| Other operating charges | 640/8 | €2,666 | €9,406 | +€6,739 | +252.7% |
| Gross operating margin | 9900 | €83,224 | €71,243 | -€11,981 | -14.4% |
| Operating profit (loss) | 9901 | €39,275 | -€4,024 | -€43,299 | |
| Financial income | 75/76B | €300 | €277 | -€23 | -7.6% |
| Recurring financial income | 75 | €300 | €277 | -€23 | -7.6% |
| Financial charges | 65/66B | €17,540 | €26,770 | +€9,230 | +52.6% |
| Recurring financial charges | 65 | €17,540 | €26,770 | +€9,230 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €22,034 | -€30,517 | -€52,551 | |
| Income taxes | 67/77 | €7,136 | €123 | -€7,012 | -98.3% |
| Profit (loss) for the period | 9904 | €14,899 | -€30,640 | -€45,539 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,899 | -€30,640 | -€45,539 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.