VANHENECO: 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.
VANHENECO
Largest movements
- Tangible fixed assets +€8,730
up €8,730 (+203%), from €4,308 to €13,038
of which Furniture and vehicles: +€9,430
- Receivables within one year -€1,223
down €1,223 (-69.5%), from €1,761 to €538
of which Other amounts receivable: -€1,761
- Cash +€546
up €546 (+19.0%), from €2,874 to €3,420
mainly Other debts (+€6,782) and Depreciation (+€2,300)
- Other debts +€6,782
up €6,782 (+1,687%), from €402 to €7,184
- Profit (loss) carried forward +€583
up €583 (+15.6%), from -€3,747 to -€3,165
- Trade debts +€341
up €341 (+19.5%), from €1,745 to €2,086
- Financial charges -€3,655
down €3,655 (-62.1%), from €5,889 to €2,234
- Gross operating margin -€1,666
down €1,666 (-16.8%), from €9,940 to €8,274
- Other operating charges +€1,161
up €1,161 (+65.7%), from €1,767 to €2,928
- Depreciation +€461
up €461 (+25.1%), from €1,839 to €2,300
- Financial income +€271
up €271 (+304%), from €89 to €360
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 | €19,174 | €27,065 | +€7,891 | +41.2% |
| Fixed assets | 21/28 | €5,944 | €14,674 | +€8,730 | +147% |
| Tangible fixed assets | 22/27 | €4,308 | €13,038 | +€8,730 | +203% |
| Plant, machinery and equipment | 23 | €1,549 | €850 | -€699 | -45.1% |
| Furniture and vehicles | 24 | €2,758 | €12,188 | +€9,430 | +342% |
| Financial fixed assets | 28 | €1,637 | €1,637 | = | 0.0% |
| Current assets | 29/58 | €13,230 | €12,390 | -€840 | -6.3% |
| Stocks and contracts in progress | 3 | €7,456 | €7,416 | -€40 | -0.5% |
| Stocks | 30/36 | €7,456 | €7,416 | -€40 | -0.5% |
| Amounts receivable within one year | 40/41 | €1,761 | €538 | -€1,223 | -69.5% |
| Trade receivables | 40 | - | €538 | +€538 | |
| Other amounts receivable | 41 | €1,761 | €0 | -€1,761 | -100% |
| Cash at bank and in hand | 54/58 | €2,874 | €3,420 | +€546 | +19.0% |
| Deferred charges and accrued income | 490/1 | €1,139 | €1,016 | -€123 | -10.8% |
| Total equity and liabilities | 10/49 | €19,174 | €27,065 | +€7,891 | +41.2% |
| Equity | 10/15 | €16,658 | €17,240 | +€583 | +3.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,747 | -€3,165 | +€583 | +15.6% |
| Amounts payable | 17/49 | €2,517 | €9,825 | +€7,308 | +290% |
| Amounts payable within one year | 42/48 | €2,517 | €9,825 | +€7,308 | +290% |
| Trade debts | 44 | €1,745 | €2,086 | +€341 | +19.5% |
| Suppliers | 440/4 | €1,745 | €2,086 | +€341 | +19.5% |
| Taxes, remuneration and social security | 45 | €370 | €555 | +€185 | +50.0% |
| Taxes | 450/3 | €370 | €555 | +€185 | +50.0% |
| Other amounts payable | 47/48 | €402 | €7,184 | +€6,782 | +1,687% |
| Remuneration, social security and pensions | 62 | €146 | €149 | +€3 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,839 | €2,300 | +€461 | +25.1% |
| Other operating charges | 640/8 | €1,767 | €2,928 | +€1,161 | +65.7% |
| Non-recurring operating charges | 66A | - | €258 | +€258 | |
| Gross operating margin | 9900 | €9,940 | €8,274 | -€1,666 | -16.8% |
| Operating profit (loss) | 9901 | €6,188 | €2,640 | -€3,549 | -57.3% |
| Financial income | 75/76B | €89 | €360 | +€271 | +304% |
| Recurring financial income | 75 | €89 | €360 | +€271 | +304% |
| Financial charges | 65/66B | €5,889 | €2,234 | -€3,655 | -62.1% |
| Recurring financial charges | 65 | €5,889 | €2,234 | -€3,655 | -62.1% |
| Profit (loss) for the period before taxes | 9903 | €389 | €766 | +€377 | +97.0% |
| Income taxes | 67/77 | €188 | €183 | -€5 | -2.8% |
| Profit (loss) for the period | 9904 | €200 | €583 | +€382 | +191% |
| Profit (loss) for the period to be appropriated | 9905 | €200 | €583 | +€382 | +191% |
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.