VANHERCK: what changed
VANHERCK
Largest movements
- Cash +€65,095
up €65,095 (+33.3%), from €195,528 to €260,622
mainly Net result for the year (+€49,694) and Depreciation (+€24,008)
- Tangible fixed assets -€24,008
down €24,008 (-17.9%), from €134,005 to €109,997
of which Furniture and vehicles: -€20,609
- Receivables within one year -€12,093
down €12,093 (-22.0%), from €54,947 to €42,855
- Reserves +€49,694
up €49,694 (+23.2%), from €214,034 to €263,728
of which Distributable reserves: +€49,694
- Other debts -€16,934
down €16,934 (-88.0%), from €19,244 to €2,310
- Trade debts -€8,404
down €8,404 (-31.6%), from €26,583 to €18,179
- Tax, wage and social debts +€4,639
up €4,639 (+100%), from €4,619 to €9,258
- Gross operating margin +€20,945
up €20,945 (+31.7%), from €66,055 to €87,000
- Depreciation +€6,963
up €6,963 (+40.9%), from €17,044 to €24,008
- Other operating charges +€888
up €888 (+23.1%), from €3,850 to €4,738
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €384,480 | €413,475 | +€28,994 | +7.5% |
| Fixed assets | 21/28 | €134,005 | €109,997 | -€24,008 | -17.9% |
| Tangible fixed assets | 22/27 | €134,005 | €109,997 | -€24,008 | -17.9% |
| Land and buildings | 22 | €10,000 | €10,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €19,946 | €16,548 | -€3,398 | -17.0% |
| Furniture and vehicles | 24 | €104,059 | €83,449 | -€20,609 | -19.8% |
| Current assets | 29/58 | €250,475 | €303,477 | +€53,002 | +21.2% |
| Amounts receivable within one year | 40/41 | €54,947 | €42,855 | -€12,093 | -22.0% |
| Trade receivables | 40 | €54,947 | €42,855 | -€12,093 | -22.0% |
| Cash at bank and in hand | 54/58 | €195,528 | €260,622 | +€65,095 | +33.3% |
| Total equity and liabilities | 10/49 | €384,480 | €413,475 | +€28,994 | +7.5% |
| Equity | 10/15 | €334,034 | €383,728 | +€49,694 | +14.9% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €214,034 | €263,728 | +€49,694 | +23.2% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €202,034 | €251,728 | +€49,694 | +24.6% |
| Amounts payable | 17/49 | €50,447 | €29,746 | -€20,700 | -41.0% |
| Amounts payable within one year | 42/48 | €50,447 | €29,746 | -€20,700 | -41.0% |
| Trade debts | 44 | €26,583 | €18,179 | -€8,404 | -31.6% |
| Suppliers | 440/4 | €26,583 | €18,179 | -€8,404 | -31.6% |
| Taxes, remuneration and social security | 45 | €4,619 | €9,258 | +€4,639 | +100% |
| Taxes | 450/3 | €4,619 | €9,258 | +€4,639 | +100% |
| Other amounts payable | 47/48 | €19,244 | €2,310 | -€16,934 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,044 | €24,008 | +€6,963 | +40.9% |
| Other operating charges | 640/8 | €3,850 | €4,738 | +€888 | +23.1% |
| Gross operating margin | 9900 | €66,055 | €87,000 | +€20,945 | +31.7% |
| Operating profit (loss) | 9901 | €45,160 | €58,254 | +€13,094 | +29.0% |
| Financial income | 75/76B | - | €126 | +€126 | |
| Recurring financial income | 75 | - | €126 | +€126 | |
| Non-recurring financial income | 76B | - | €126 | +€126 | |
| Financial charges | 65/66B | €334 | €333 | -€1 | -0.2% |
| Recurring financial charges | 65 | €334 | €333 | -€1 | -0.2% |
| Non-recurring financial charges | 66B | €334 | €333 | -€1 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €44,826 | €58,047 | +€13,221 | +29.5% |
| Income taxes | 67/77 | €7,631 | €8,353 | +€722 | +9.5% |
| Profit (loss) for the period | 9904 | €37,196 | €49,694 | +€12,499 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,196 | €49,694 | +€12,499 | +33.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.