VANHERTEX: what changed
Two fiscal 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.
VANHERTEX
Largest movements
- Receivables within one year -€8,098
down €8,098 (-47.8%), from €16,925 to €8,827
of which Trade receivables: -€9,109
- Tangible fixed assets -€5,439
down €5,439 (-8.6%), from €63,474 to €58,035
of which Land and buildings: -€3,205
- Cash -€3,294
down €3,294 (-2.2%), from €151,955 to €148,661
mainly Current portion of long-term debt (-€6,667) and Net result for the year (-€6,506)
- Reserves -€17,873
down €17,873 (-9.1%), from €196,099 to €178,226
of which Distributable reserves: -€17,873
- Profit (loss) carried forward +€11,367
up €11,367, from -€11,367 to €0
- Current portion of long-term debt -€6,667
down €6,667 (-100.0%), from €6,667 to €0
- Tax, wage and social debts -€4,508
down €4,508 (-66.8%), from €6,744 to €2,236
of which Taxes: -€3,963
- Staff costs -€6,978
down €6,978 (-16.5%), from €42,330 to €35,352
- Gross operating margin -€5,894
down €5,894 (-11.3%), from €52,076 to €46,182
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.
Cash bridge derived
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 | €234,480 | €217,374 | -€17,106 | -7.3% |
| Fixed assets | 21/28 | €63,474 | €58,035 | -€5,439 | -8.6% |
| Tangible fixed assets | 22/27 | €63,474 | €58,035 | -€5,439 | -8.6% |
| Land and buildings | 22 | €58,672 | €55,468 | -€3,205 | -5.5% |
| Plant, machinery and equipment | 23 | €2,571 | €2,198 | -€374 | -14.5% |
| Furniture and vehicles | 24 | €2,230 | €370 | -€1,860 | -83.4% |
| Current assets | 29/58 | €171,006 | €159,339 | -€11,667 | -6.8% |
| Amounts receivable within one year | 40/41 | €16,925 | €8,827 | -€8,098 | -47.8% |
| Trade receivables | 40 | €16,899 | €7,790 | -€9,109 | -53.9% |
| Other amounts receivable | 41 | €26 | €1,037 | +€1,011 | +3842.4% |
| Cash at bank and in hand | 54/58 | €151,955 | €148,661 | -€3,294 | -2.2% |
| Deferred charges and accrued income | 490/1 | €2,126 | €1,851 | -€274 | -12.9% |
| Total equity and liabilities | 10/49 | €234,480 | €217,374 | -€17,106 | -7.3% |
| Equity | 10/15 | €215,718 | €209,212 | -€6,506 | -3.0% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €196,099 | €178,226 | -€17,873 | -9.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €186,099 | €168,226 | -€17,873 | -9.6% |
| Profit (loss) carried forward | 14 | -€11,367 | €0 | +€11,367 | |
| Amounts payable | 17/49 | €18,762 | €8,162 | -€10,600 | -56.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €18,762 | €8,162 | -€10,600 | -56.5% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €0 | -€6,667 | -100.0% |
| Trade debts | 44 | €2,163 | €2,377 | +€213 | +9.9% |
| Suppliers | 440/4 | €2,163 | €2,377 | +€213 | +9.9% |
| Taxes, remuneration and social security | 45 | €6,744 | €2,236 | -€4,508 | -66.8% |
| Taxes | 450/3 | €3,963 | €0 | -€3,963 | -100.0% |
| Remuneration and social security | 454/9 | €2,781 | €2,236 | -€545 | -19.6% |
| Other amounts payable | 47/48 | €3,188 | €3,549 | +€361 | +11.3% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €42,330 | €35,352 | -€6,978 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,842 | €5,439 | -€403 | -6.9% |
| Other operating charges | 640/8 | €11,574 | €11,266 | -€308 | -2.7% |
| Gross operating margin | 9900 | €52,076 | €46,182 | -€5,894 | -11.3% |
| Operating profit (loss) | 9901 | -€7,670 | -€5,875 | +€1,795 | +23.4% |
| Financial income | 75/76B | €616 | €483 | -€134 | -21.7% |
| Recurring financial income | 75 | €616 | €483 | -€134 | -21.7% |
| Financial charges | 65/66B | €648 | €720 | +€72 | +11.1% |
| Recurring financial charges | 65 | €648 | €720 | +€72 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,701 | -€6,112 | +€1,590 | +20.6% |
| Income taxes | 67/77 | €413 | €394 | -€20 | -4.7% |
| Profit (loss) for the period | 9904 | -€8,115 | -€6,506 | +€1,609 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,115 | -€6,506 | +€1,609 | +19.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.