VANHEMENS: 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.
VANHEMENS
Largest movements
- Current investments +€400,000
up €400,000 (+40.0%), from €1.0m to €1.4m
- Cash -€276,369
down €276,369 (-14.2%), from €1.9m to €1.7m
mainly Current investments (-€400,000) and Trade debts (-€215,496)
- Trade debts -€215,496
down €215,496 (-71.3%), from €302,276 to €86,780
- Accrued charges and deferred income +€142,400
new in 2025: €142,400
- Reserves +€133,975
up €133,975 (+3.7%), from €3.6m to €3.7m
of which Distributable reserves: +€137,073
- Tax, wage and social debts +€65,876
up €65,876 (+182%), from €36,264 to €102,140
of which Taxes: +€59,885
- Gross operating margin -€877,624
down €877,624 (-72.7%), from €1.2m to €328,825
- Taxes -€290,287
down €290,287 (-76.6%), from €378,930 to €88,643
- Staff costs +€21,691
up €21,691 (+26.5%), from €81,818 to €103,508
- Financial income -€14,206
down €14,206 (-17.4%), from €81,646 to €67,440
of which Financial income: -€15,462
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,076,233 | €4,198,705 | +€122,472 | +3.0% |
| Fixed assets | 21/28 | €47,446 | €56,900 | +€9,453 | +19.9% |
| Tangible fixed assets | 22/27 | €47,446 | €56,900 | +€9,453 | +19.9% |
| Land and buildings | 22 | €43,137 | €35,308 | -€7,829 | -18.1% |
| Plant, machinery and equipment | 23 | €30 | €0 | -€30 | -100% |
| Furniture and vehicles | 24 | €4,279 | €21,592 | +€17,312 | +405% |
| Current assets | 29/58 | €4,028,786 | €4,141,805 | +€113,019 | +2.8% |
| Stocks and contracts in progress | 3 | €471,699 | €458,331 | -€13,368 | -2.8% |
| Stocks | 30/36 | €471,699 | €458,331 | -€13,368 | -2.8% |
| Amounts receivable within one year | 40/41 | €610,549 | €613,305 | +€2,756 | +0.5% |
| Trade receivables | 40 | €542,007 | €605,533 | +€63,526 | +11.7% |
| Other amounts receivable | 41 | €68,542 | €7,772 | -€60,770 | -88.7% |
| Current investments | 50/53 | €1,000,000 | €1,400,000 | +€400,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €1,946,538 | €1,670,169 | -€276,369 | -14.2% |
| Total equity and liabilities | 10/49 | €4,076,233 | €4,198,705 | +€122,472 | +3.0% |
| Equity | 10/15 | €3,685,193 | €3,819,167 | +€133,975 | +3.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €3,610,193 | €3,744,167 | +€133,975 | +3.7% |
| Tax-exempt reserves | 132 | €3,099 | €0 | -€3,099 | -100% |
| Distributable reserves | 133 | €3,607,094 | €3,744,167 | +€137,073 | +3.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €391,040 | €379,538 | -€11,502 | -2.9% |
| Amounts payable within one year | 42/48 | €391,040 | €237,138 | -€153,902 | -39.4% |
| Trade debts | 44 | €302,276 | €86,780 | -€215,496 | -71.3% |
| Suppliers | 440/4 | €302,276 | €86,780 | -€215,496 | -71.3% |
| Taxes, remuneration and social security | 45 | €36,264 | €102,140 | +€65,876 | +182% |
| Taxes | 450/3 | €27,002 | €86,887 | +€59,885 | +222% |
| Remuneration and social security | 454/9 | €9,262 | €15,254 | +€5,991 | +64.7% |
| Other amounts payable | 47/48 | €52,500 | €48,218 | -€4,282 | -8.2% |
| Accrued charges and deferred income | 492/3 | - | €142,400 | +€142,400 | |
| Remuneration, social security and pensions | 62 | €81,818 | €103,508 | +€21,691 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,802 | €10,875 | +€73 | +0.7% |
| Other operating charges | 640/8 | €5,307 | €5,578 | +€271 | +5.1% |
| Non-recurring operating charges | 66A | €747 | €1,602 | +€855 | +114% |
| Gross operating margin | 9900 | €1,206,449 | €328,825 | -€877,624 | -72.7% |
| Operating profit (loss) | 9901 | €1,107,775 | €207,261 | -€900,514 | -81.3% |
| Financial income | 75/76B | €81,646 | €67,440 | -€14,206 | -17.4% |
| Recurring financial income | 75 | €81,646 | €66,183 | -€15,462 | -18.9% |
| Non-recurring financial income | 76B | €0 | €1,256 | +€1,256 | |
| Financial charges | 65/66B | €3,176 | €2,083 | -€1,093 | -34.4% |
| Recurring financial charges | 65 | €3,176 | €2,083 | -€1,093 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €1,186,244 | €272,618 | -€913,627 | -77.0% |
| Income taxes | 67/77 | €378,930 | €88,643 | -€290,287 | -76.6% |
| Profit (loss) for the period | 9904 | €807,315 | €183,975 | -€623,340 | -77.2% |
| Transfer from tax-exempt reserves | 789 | - | €3,099 | +€3,099 | |
| Profit (loss) for the period to be appropriated | 9905 | €807,315 | €187,073 | -€620,241 | -76.8% |
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 19 October 2026 via checked.be.