VANHESTE SPORT: 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.
VANHESTE SPORT
Largest movements
- Stocks and contracts +€32,678
up €32,678 (+9.0%), from €362,019 to €394,697
- Tangible fixed assets -€19,907
down €19,907 (-8.5%), from €232,851 to €212,945
of which Furniture and vehicles: -€13,428
- Receivables within one year -€9,993
down €9,993 (-19.8%), from €50,489 to €40,496
of which Other amounts receivable: -€16,038
- Reserves +€42,878
up €42,878 (+13.8%), from €310,958 to €353,836
of which Distributable reserves: +€50,336
- Tax, wage and social debts -€29,912
down €29,912 (-73.8%), from €40,539 to €10,627
of which Taxes: -€21,605
- Other debts +€25,954
up €25,954 (+55.0%), from €47,174 to €73,128
- Debts after one year -€16,064
down €16,064 (-67.4%), from €23,843 to €7,779
- Advances received -€12,584
down €12,584 (-75.0%), from €16,779 to €4,195
- Gross operating margin +€78,651
up €78,651 (+56.2%), from €139,998 to €218,649
- Staff costs -€24,933
down €24,933 (-26.0%), from €95,773 to €70,840
- Depreciation -€5,541
down €5,541 (-16.3%), from €33,935 to €28,393
- Other operating charges -€3,372
down €3,372 (-42.4%), from €7,949 to €4,577
- Financial charges +€3,183
up €3,183 (+21.9%), from €14,512 to €17,695
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 | €651,987 | €654,189 | +€2,202 | +0.3% |
| Fixed assets | 21/28 | €232,851 | €212,945 | -€19,907 | -8.5% |
| Tangible fixed assets | 22/27 | €232,851 | €212,945 | -€19,907 | -8.5% |
| Plant, machinery and equipment | 23 | €17,949 | €12,417 | -€5,532 | -30.8% |
| Furniture and vehicles | 24 | €29,605 | €16,178 | -€13,428 | -45.4% |
| Other tangible fixed assets | 26 | €185,298 | €184,350 | -€947 | -0.5% |
| Current assets | 29/58 | €419,136 | €441,244 | +€22,108 | +5.3% |
| Stocks and contracts in progress | 3 | €362,019 | €394,697 | +€32,678 | +9.0% |
| Stocks | 30/36 | €362,019 | €394,697 | +€32,678 | +9.0% |
| Amounts receivable within one year | 40/41 | €50,489 | €40,496 | -€9,993 | -19.8% |
| Trade receivables | 40 | €10,926 | €16,971 | +€6,045 | +55.3% |
| Other amounts receivable | 41 | €39,563 | €23,525 | -€16,038 | -40.5% |
| Cash at bank and in hand | 54/58 | €6,044 | €5,817 | -€228 | -3.8% |
| Deferred charges and accrued income | 490/1 | €584 | €234 | -€349 | -59.9% |
| Total equity and liabilities | 10/49 | €651,987 | €654,189 | +€2,202 | +0.3% |
| Equity | 10/15 | €335,958 | €378,836 | +€42,878 | +12.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €310,958 | €353,836 | +€42,878 | +13.8% |
| Non-distributable reserves | 130/1 | €7,458 | - | -€7,458 | |
| Reserves not available under the articles | 1311 | €7,458 | - | -€7,458 | |
| Tax-exempt reserves | 132 | €15,030 | €15,030 | = | 0.0% |
| Distributable reserves | 133 | €288,471 | €338,807 | +€50,336 | +17.4% |
| Amounts payable | 17/49 | €316,029 | €275,352 | -€40,676 | -12.9% |
| Amounts payable after more than one year | 17 | €23,843 | €7,779 | -€16,064 | -67.4% |
| Financial debts | 170/4 | €23,843 | €7,779 | -€16,064 | -67.4% |
| Amounts payable within one year | 42/48 | €292,017 | €267,398 | -€24,619 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €15,739 | €16,064 | +€325 | +2.1% |
| Financial debts | 43 | €96,390 | €92,973 | -€3,417 | -3.5% |
| Credit institutions | 430/8 | €96,390 | €92,973 | -€3,417 | -3.5% |
| Trade debts | 44 | €75,396 | €70,411 | -€4,985 | -6.6% |
| Suppliers | 440/4 | €75,396 | €70,411 | -€4,985 | -6.6% |
| Advances received on contracts in progress | 46 | €16,779 | €4,195 | -€12,584 | -75.0% |
| Taxes, remuneration and social security | 45 | €40,539 | €10,627 | -€29,912 | -73.8% |
| Taxes | 450/3 | €25,452 | €3,847 | -€21,605 | -84.9% |
| Remuneration and social security | 454/9 | €15,087 | €6,780 | -€8,308 | -55.1% |
| Other amounts payable | 47/48 | €47,174 | €73,128 | +€25,954 | +55.0% |
| Accrued charges and deferred income | 492/3 | €169 | €176 | +€7 | +4.1% |
| Non-recurring operating income | 76A | - | €12,217 | +€12,217 | |
| Remuneration, social security and pensions | 62 | €95,773 | €70,840 | -€24,933 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,935 | €28,393 | -€5,541 | -16.3% |
| Other operating charges | 640/8 | €7,949 | €4,577 | -€3,372 | -42.4% |
| Gross operating margin | 9900 | €139,998 | €218,649 | +€78,651 | +56.2% |
| Operating profit (loss) | 9901 | €2,341 | €114,838 | +€112,497 | +4,805% |
| Financial income | 75/76B | €5,182 | €2,234 | -€2,948 | -56.9% |
| Recurring financial income | 75 | €5,182 | €2,234 | -€2,948 | -56.9% |
| Financial charges | 65/66B | €14,512 | €17,695 | +€3,183 | +21.9% |
| Recurring financial charges | 65 | €14,512 | €17,695 | +€3,183 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,988 | €99,378 | +€106,366 | |
| Income taxes | 67/77 | €3,621 | €1,500 | -€2,121 | -58.6% |
| Profit (loss) for the period | 9904 | -€10,610 | €97,878 | +€108,488 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,610 | €97,878 | +€108,488 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.