VANHERLE DIEGO: 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.
VANHERLE DIEGO
Largest movements
- Current investments +€247,718
new in 2025: €247,718
- Cash -€217,691
down €217,691 (-83.6%), from €260,333 to €42,642
mainly Current investments (-€247,718) and Trade debts (-€8,414)
- Tangible fixed assets -€11,488
down €11,488 (-57.7%), from €19,903 to €8,416
of which Furniture and vehicles: -€9,765
- Reserves +€16,888
up €16,888 (+10.7%), from €157,447 to €174,335
of which Distributable reserves: +€16,888
- Tax, wage and social debts +€8,786
up €8,786 (+136%), from €6,442 to €15,228
- Trade debts -€8,414
down €8,414 (-65.2%), from €12,906 to €4,492
- Current portion of long-term debt -€3,470
no longer reported in 2025 (was €3,470)
- Staff costs -€21,788
no longer reported in 2025 (was €21,788)
- Gross operating margin -€16,566
down €16,566 (-33.9%), from €48,838 to €32,272
- Depreciation -€9,278
down €9,278 (-52.2%), from €17,767 to €8,488
- Taxes +€3,705
up €3,705 (+127%), from €2,920 to €6,625
- Other operating charges +€1,097
up €1,097 (+244%), from €449 to €1,547
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 | €310,812 | €327,606 | +€16,794 | +5.4% |
| Fixed assets | 21/28 | €19,903 | €8,416 | -€11,488 | -57.7% |
| Tangible fixed assets | 22/27 | €19,903 | €8,416 | -€11,488 | -57.7% |
| Land and buildings | 22 | €9,588 | €7,866 | -€1,723 | -18.0% |
| Furniture and vehicles | 24 | €10,315 | €550 | -€9,765 | -94.7% |
| Current assets | 29/58 | €290,909 | €319,191 | +€28,282 | +9.7% |
| Stocks and contracts in progress | 3 | €7,390 | €5,587 | -€1,803 | -24.4% |
| Stocks | 30/36 | €7,390 | €5,587 | -€1,803 | -24.4% |
| Amounts receivable within one year | 40/41 | €18,002 | €17,939 | -€63 | -0.4% |
| Trade receivables | 40 | €13,783 | €17,768 | +€3,985 | +28.9% |
| Other amounts receivable | 41 | €4,220 | €172 | -€4,048 | -95.9% |
| Current investments | 50/53 | - | €247,718 | +€247,718 | |
| Cash at bank and in hand | 54/58 | €260,333 | €42,642 | -€217,691 | -83.6% |
| Deferred charges and accrued income | 490/1 | €5,183 | €5,304 | +€121 | +2.3% |
| Total equity and liabilities | 10/49 | €310,812 | €327,606 | +€16,794 | +5.4% |
| Equity | 10/15 | €286,840 | €303,729 | +€16,888 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €157,447 | €174,335 | +€16,888 | +10.7% |
| Tax-exempt reserves | 132 | €125,309 | €125,309 | = | 0.0% |
| Distributable reserves | 133 | €32,138 | €49,026 | +€16,888 | +52.6% |
| Profit (loss) carried forward | 14 | €110,794 | €110,794 | = | 0.0% |
| Amounts payable | 17/49 | €23,972 | €23,878 | -€94 | -0.4% |
| Amounts payable within one year | 42/48 | €23,972 | €23,878 | -€94 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €3,470 | - | -€3,470 | |
| Financial debts | 43 | €1,154 | €1,530 | +€376 | +32.6% |
| Credit institutions | 430/8 | €1,154 | €1,530 | +€376 | +32.6% |
| Trade debts | 44 | €12,906 | €4,492 | -€8,414 | -65.2% |
| Suppliers | 440/4 | €12,906 | €4,492 | -€8,414 | -65.2% |
| Taxes, remuneration and social security | 45 | €6,442 | €15,228 | +€8,786 | +136% |
| Taxes | 450/3 | €6,442 | €15,228 | +€8,786 | +136% |
| Other amounts payable | 47/48 | - | €2,628 | +€2,628 | |
| Non-recurring operating income | 76A | - | €3,201 | +€3,201 | |
| Remuneration, social security and pensions | 62 | €21,788 | - | -€21,788 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,767 | €8,488 | -€9,278 | -52.2% |
| Other operating charges | 640/8 | €449 | €1,547 | +€1,097 | +244% |
| Gross operating margin | 9900 | €48,838 | €32,272 | -€16,566 | -33.9% |
| Operating profit (loss) | 9901 | €8,834 | €22,237 | +€13,403 | +152% |
| Financial income | 75/76B | €1,474 | €1,461 | -€12 | -0.8% |
| Recurring financial income | 75 | €1,474 | €1,461 | -€12 | -0.8% |
| Financial charges | 65/66B | €395 | €185 | -€210 | -53.1% |
| Recurring financial charges | 65 | €395 | €185 | -€210 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €9,913 | €23,514 | +€13,601 | +137% |
| Income taxes | 67/77 | €2,920 | €6,625 | +€3,705 | +127% |
| Profit (loss) for the period | 9904 | €6,992 | €16,888 | +€9,896 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €6,992 | €16,888 | +€9,896 | +142% |
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 25 October 2026 via checked.be.