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
- Receivables within one year -€190,812
down €190,812 (-10.3%), from €1.9m to €1.7m
of which Other amounts receivable: -€191,740
- Tangible fixed assets -€75,061
down €75,061 (-92.8%), from €80,850 to €5,789
of which Land and buildings: -€62,093
- Other debts -€1.0m
down €1.0m (-63.2%), from €1.6m to €602,390
- Debts after one year +€448,258
up €448,258 (+160%), from €280,000 to €728,258
- Reserves +€233,410
up €233,410 (+12.7%), from €1.8m to €2.1m
- Current portion of long-term debt +€114,357
new in 2025: €114,357
- Gross operating margin -€318,204
down €318,204 (-46.8%), from €679,638 to €361,435
- Financial income +€204,859
up €204,859 (+10,294,411%), from €2 to €204,861
- Taxes -€75,066
down €75,066 (-61.5%), from €122,079 to €47,014
- Staff costs +€41,777
up €41,777 (+26.9%), from €155,217 to €196,994
- Financial charges -€37,818
down €37,818 (-84.2%), from €44,907 to €7,090
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 | €3,867,162 | €3,616,708 | -€250,454 | -6.5% |
| Fixed assets | 21/28 | €1,988,768 | €1,913,707 | -€75,061 | -3.8% |
| Tangible fixed assets | 22/27 | €80,850 | €5,789 | -€75,061 | -92.8% |
| Land and buildings | 22 | €67,254 | €5,161 | -€62,093 | -92.3% |
| Furniture and vehicles | 24 | €13,595 | €627 | -€12,968 | -95.4% |
| Financial fixed assets | 28 | €1,907,918 | €1,907,918 | = | 0.0% |
| Current assets | 29/58 | €1,878,394 | €1,703,002 | -€175,393 | -9.3% |
| Amounts receivable within one year | 40/41 | €1,854,601 | €1,663,789 | -€190,812 | -10.3% |
| Trade receivables | 40 | €24,500 | €25,428 | +€928 | +3.8% |
| Other amounts receivable | 41 | €1,830,101 | €1,638,361 | -€191,740 | -10.5% |
| Cash at bank and in hand | 54/58 | €22,701 | €38,126 | +€15,425 | +67.9% |
| Deferred charges and accrued income | 490/1 | €1,092 | €1,086 | -€6 | -0.5% |
| Total equity and liabilities | 10/49 | €3,867,162 | €3,616,708 | -€250,454 | -6.5% |
| Equity | 10/15 | €1,890,074 | €2,123,484 | +€233,410 | +12.3% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €1,840,495 | €2,073,905 | +€233,410 | +12.7% |
| Distributable reserves | 133 | €1,840,495 | €2,073,905 | +€233,410 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,977,088 | €1,493,224 | -€483,864 | -24.5% |
| Amounts payable after more than one year | 17 | €280,000 | €728,258 | +€448,258 | +160% |
| Financial debts | 170/4 | €280,000 | €728,258 | +€448,258 | +160% |
| Amounts payable within one year | 42/48 | €1,695,193 | €753,654 | -€941,539 | -55.5% |
| Current portion of amounts payable after more than one year | 42 | - | €114,357 | +€114,357 | |
| Trade debts | 44 | €12,811 | €5,362 | -€7,449 | -58.1% |
| Suppliers | 440/4 | €12,811 | €5,362 | -€7,449 | -58.1% |
| Taxes, remuneration and social security | 45 | €44,536 | €31,546 | -€12,990 | -29.2% |
| Taxes | 450/3 | €13,120 | €39 | -€13,081 | -99.7% |
| Remuneration and social security | 454/9 | €31,416 | €31,507 | +€91 | +0.3% |
| Other amounts payable | 47/48 | €1,637,846 | €602,390 | -€1.0m | -63.2% |
| Accrued charges and deferred income | 492/3 | €1,895 | €11,312 | +€9,417 | +497% |
| Non-recurring operating income | 76A | - | €4,062 | +€4,062 | |
| Remuneration, social security and pensions | 62 | €155,217 | €196,994 | +€41,777 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,216 | €21,216 | = | 0.0% |
| Other operating charges | 640/8 | €4,092 | €6,727 | +€2,635 | +64.4% |
| Non-recurring operating charges | 66A | €60,000 | €53,845 | -€6,155 | -10.3% |
| Gross operating margin | 9900 | €679,638 | €361,435 | -€318,204 | -46.8% |
| Operating profit (loss) | 9901 | €439,113 | €82,652 | -€356,460 | -81.2% |
| Financial income | 75/76B | €2 | €204,861 | +€204,859 | +10,294,411% |
| Recurring financial income | 75 | €2 | €204,861 | +€204,859 | +10,294,411% |
| Financial charges | 65/66B | €44,907 | €7,090 | -€37,818 | -84.2% |
| Recurring financial charges | 65 | €44,907 | €7,090 | -€37,818 | -84.2% |
| Profit (loss) for the period before taxes | 9903 | €394,208 | €280,424 | -€113,784 | -28.9% |
| Income taxes | 67/77 | €122,079 | €47,014 | -€75,066 | -61.5% |
| Profit (loss) for the period | 9904 | €272,128 | €233,410 | -€38,718 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €272,128 | €233,410 | -€38,718 | -14.2% |
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.