VANHEUSDEN PROJECTS: 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 PROJECTS
Largest movements
- Tangible fixed assets -€174,495
down €174,495 (-3.6%), from €4.9m to €4.7m
of which Land and buildings: -€156,170
- Profit (loss) carried forward -€98,135
down €98,135 (-48.8%), from -€201,191 to -€299,326
- Depreciation -€108,284
down €108,284 (-37.9%), from €285,901 to €177,617
- Financial income -€56,314
no longer reported in 2025 (was €56,314)
- Financial charges -€42,017
down €42,017 (-81.1%), from €51,786 to €9,769
- Other operating charges -€10,370
down €10,370 (-41.4%), from €25,058 to €14,688
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 | €5,297,420 | €5,153,470 | -€143,949 | -2.7% |
| Formation expenses | 20 | €335,040 | €335,040 | = | 0.0% |
| Fixed assets | 21/28 | €4,886,798 | €4,712,303 | -€174,495 | -3.6% |
| Tangible fixed assets | 22/27 | €4,886,798 | €4,712,303 | -€174,495 | -3.6% |
| Land and buildings | 22 | €4,797,387 | €4,641,217 | -€156,170 | -3.3% |
| Plant, machinery and equipment | 23 | €3,865 | €4,870 | +€1,005 | +26.0% |
| Furniture and vehicles | 24 | €85,546 | €66,216 | -€19,330 | -22.6% |
| Current assets | 29/58 | €75,582 | €106,127 | +€30,545 | +40.4% |
| Amounts receivable within one year | 40/41 | €173 | - | -€173 | |
| Trade receivables | 40 | €173 | - | -€173 | |
| Current investments | 50/53 | €59,506 | €59,506 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,902 | €46,621 | +€30,719 | +193.2% |
| Total equity and liabilities | 10/49 | €5,297,420 | €5,153,470 | -€143,949 | -2.7% |
| Equity | 10/15 | €4,445,177 | €4,347,043 | -€98,135 | -2.2% |
| Contributions | 10/11 | €4,646,368 | €4,646,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€201,191 | -€299,326 | -€98,135 | -48.8% |
| Amounts payable | 17/49 | €852,242 | €806,428 | -€45,815 | -5.4% |
| Amounts payable after more than one year | 17 | €245,110 | €225,631 | -€19,479 | -7.9% |
| Financial debts | 170/4 | €245,110 | €225,631 | -€19,479 | -7.9% |
| Amounts payable within one year | 42/48 | €607,132 | €580,796 | -€26,336 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €19,479 | €19,479 | = | 0.0% |
| Trade debts | 44 | - | €1,285 | +€1,285 | |
| Suppliers | 440/4 | - | €1,285 | +€1,285 | |
| Taxes, remuneration and social security | 45 | €76 | €297 | +€221 | +291.7% |
| Taxes | 450/3 | €76 | €297 | +€221 | +291.7% |
| Other amounts payable | 47/48 | €587,577 | €559,735 | -€27,842 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285,901 | €177,617 | -€108,284 | -37.9% |
| Other operating charges | 640/8 | €25,058 | €14,688 | -€10,370 | -41.4% |
| Gross operating margin | 9900 | €105,316 | €104,392 | -€923 | -0.9% |
| Operating profit (loss) | 9901 | -€205,643 | -€87,913 | +€117,730 | +57.2% |
| Financial income | 75/76B | €56,314 | - | -€56,314 | |
| Recurring financial income | 75 | €56,314 | - | -€56,314 | |
| Financial charges | 65/66B | €51,786 | €9,769 | -€42,017 | -81.1% |
| Recurring financial charges | 65 | €51,786 | €9,769 | -€42,017 | -81.1% |
| Profit (loss) for the period before taxes | 9903 | -€201,115 | -€97,682 | +€103,433 | +51.4% |
| Income taxes | 67/77 | €76 | €452 | +€377 | +497.1% |
| Profit (loss) for the period | 9904 | -€201,191 | -€98,135 | +€103,056 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€201,191 | -€98,135 | +€103,056 | +51.2% |
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 9 October 2026 via checked.be.