VANHEUSDEN: 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.
VANHEUSDEN
Largest movements
- Tangible fixed assets +€66,219
up €66,219 (+155%), from €42,645 to €108,864
of which Furniture and vehicles: +€44,383
- Receivables within one year +€26,519
up €26,519 (+31.4%), from €84,383 to €110,901
of which Other amounts receivable: +€20,538
- Cash -€20,089
down €20,089 (-48.7%), from €41,230 to €21,141
mainly Investment in fixed assets (net) (-€79,172) and Receivables within one year (-€26,519)
- Deferred charges and accrued income -€6,136
no longer reported in 2025 (was €6,136)
- Debts after one year +€58,820
up €58,820 (+10,946%), from €537 to €59,357
of which Financial debts: +€59,357
- Tax, wage and social debts -€14,224
down €14,224 (-27.7%), from €51,390 to €37,166
of which Taxes: -€8,506
- Other debts +€14,143
new in 2025: €14,143
- Current portion of long-term debt +€10,145
new in 2025: €10,145
- Trade debts -€3,731
down €3,731 (-19.7%), from €18,977 to €15,246
- Staff costs -€80,381
down €80,381 (-40.2%), from €200,081 to €119,699
- Gross operating margin -€32,503
down €32,503 (-16.1%), from €201,309 to €168,806
- Depreciation +€8,996
up €8,996 (+208%), from €4,322 to €13,318
- Write-downs +€4,220
new in 2025: €4,220
- Financial income +€3,460
up €3,460 (+230%), from €1,507 to €4,967
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 | €176,738 | €242,884 | +€66,146 | +37.4% |
| Fixed assets | 21/28 | €44,989 | €110,842 | +€65,853 | +146% |
| Intangible fixed assets | 21 | €1,473 | €1,107 | -€366 | -24.8% |
| Tangible fixed assets | 22/27 | €42,645 | €108,864 | +€66,219 | +155% |
| Land and buildings | 22 | €39,530 | €61,151 | +€21,620 | +54.7% |
| Plant, machinery and equipment | 23 | €2,951 | €3,166 | +€216 | +7.3% |
| Furniture and vehicles | 24 | €164 | €44,547 | +€44,383 | +27,066% |
| Financial fixed assets | 28 | €871 | €871 | = | 0.0% |
| Current assets | 29/58 | €131,749 | €132,042 | +€293 | +0.2% |
| Amounts receivable within one year | 40/41 | €84,383 | €110,901 | +€26,519 | +31.4% |
| Trade receivables | 40 | €84,383 | €90,363 | +€5,981 | +7.1% |
| Other amounts receivable | 41 | - | €20,538 | +€20,538 | |
| Cash at bank and in hand | 54/58 | €41,230 | €21,141 | -€20,089 | -48.7% |
| Deferred charges and accrued income | 490/1 | €6,136 | - | -€6,136 | |
| Total equity and liabilities | 10/49 | €176,738 | €242,884 | +€66,146 | +37.4% |
| Equity | 10/15 | €105,833 | €106,827 | +€994 | +0.9% |
| Contributions | 10/11 | €9,937 | €9,937 | = | 0.0% |
| Reserves | 13 | €95,896 | €96,890 | +€994 | +1.0% |
| Tax-exempt reserves | 132 | €9,214 | €9,214 | = | 0.0% |
| Distributable reserves | 133 | €86,682 | €87,676 | +€994 | +1.1% |
| Amounts payable | 17/49 | €70,904 | €136,057 | +€65,153 | +91.9% |
| Amounts payable after more than one year | 17 | €537 | €59,357 | +€58,820 | +10,946% |
| Financial debts | 170/4 | - | €59,357 | +€59,357 | |
| Other amounts payable | 178/9 | €537 | - | -€537 | |
| Amounts payable within one year | 42/48 | €70,367 | €76,700 | +€6,333 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | - | €10,145 | +€10,145 | |
| Trade debts | 44 | €18,977 | €15,246 | -€3,731 | -19.7% |
| Suppliers | 440/4 | €18,977 | €15,246 | -€3,731 | -19.7% |
| Taxes, remuneration and social security | 45 | €51,390 | €37,166 | -€14,224 | -27.7% |
| Taxes | 450/3 | €25,740 | €17,234 | -€8,506 | -33.0% |
| Remuneration and social security | 454/9 | €25,650 | €19,932 | -€5,718 | -22.3% |
| Other amounts payable | 47/48 | - | €14,143 | +€14,143 | |
| Remuneration, social security and pensions | 62 | €200,081 | €119,699 | -€80,381 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,322 | €13,318 | +€8,996 | +208% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,220 | +€4,220 | |
| Other operating charges | 640/8 | €3,745 | €4,047 | +€302 | +8.1% |
| Non-recurring operating charges | 66A | €924 | €7,948 | +€7,023 | +760% |
| Gross operating margin | 9900 | €201,309 | €168,806 | -€32,503 | -16.1% |
| Operating profit (loss) | 9901 | -€7,763 | €19,573 | +€27,337 | |
| Financial income | 75/76B | €1,507 | €4,967 | +€3,460 | +230% |
| Recurring financial income | 75 | €1,507 | €4,967 | +€3,460 | +230% |
| Financial charges | 65/66B | €4,661 | €6,240 | +€1,579 | +33.9% |
| Recurring financial charges | 65 | €4,661 | €6,240 | +€1,579 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,917 | €18,301 | +€29,218 | |
| Income taxes | 67/77 | €319 | €3,164 | +€2,845 | +892% |
| Profit (loss) for the period | 9904 | -€11,236 | €15,137 | +€26,373 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,236 | €15,137 | +€26,373 |
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 27 October 2026 via checked.be.