VANHIL CONSTRUCT: 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.
VANHIL CONSTRUCT
Largest movements
- Stocks and contracts -€536,118
down €536,118 (-26.6%), from €2.0m to €1.5m
- Receivables within one year -€31,880
down €31,880 (-65.7%), from €48,498 to €16,617
of which Trade receivables: -€44,966
- Advances received -€660,814
down €660,814 (-97.1%), from €680,243 to €19,430
- Short-term financial debts -€269,803
down €269,803 (-25.5%), from €1.1m to €786,683
- Profit (loss) carried forward +€251,068
up €251,068, from -€47,264 to €203,803
- Other debts +€126,133
up €126,133 (+37.0%), from €340,943 to €467,075
- Accrued charges and deferred income +€82,500
up €82,500 (+300.0%), from €27,500 to €110,000
- Gross operating margin +€307,129
up €307,129, from -€15,946 to €291,182
- Taxes +€37,392
new in 2025: €37,392
- Other operating charges -€3,552
down €3,552 (-83.8%), from €4,238 to €687
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 | €2,223,217 | €1,658,829 | -€564,388 | -25.4% |
| Current assets | 29/58 | €2,223,217 | €1,658,829 | -€564,388 | -25.4% |
| Stocks and contracts in progress | 3 | €2,015,882 | €1,479,764 | -€536,118 | -26.6% |
| Stocks | 30/36 | €2,015,882 | €1,479,764 | -€536,118 | -26.6% |
| Amounts receivable within one year | 40/41 | €48,498 | €16,617 | -€31,880 | -65.7% |
| Trade receivables | 40 | €48,185 | €3,219 | -€44,966 | -93.3% |
| Other amounts receivable | 41 | €313 | €13,399 | +€13,086 | +4180.5% |
| Cash at bank and in hand | 54/58 | €158,837 | €162,448 | +€3,610 | +2.3% |
| Total equity and liabilities | 10/49 | €2,223,217 | €1,658,829 | -€564,388 | -25.4% |
| Equity | 10/15 | -€28,664 | €222,403 | +€251,068 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,264 | €203,803 | +€251,068 | |
| Amounts payable | 17/49 | €2,251,882 | €1,436,426 | -€815,456 | -36.2% |
| Amounts payable within one year | 42/48 | €2,224,382 | €1,326,426 | -€897,956 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €55,000 | €0 | -€55,000 | -100.0% |
| Financial debts | 43 | €1,056,486 | €786,683 | -€269,803 | -25.5% |
| Credit institutions | 430/8 | €1,056,486 | €786,683 | -€269,803 | -25.5% |
| Trade debts | 44 | €80,104 | €53,238 | -€26,867 | -33.5% |
| Suppliers | 440/4 | €80,104 | €53,238 | -€26,867 | -33.5% |
| Advances received on contracts in progress | 46 | €680,243 | €19,430 | -€660,814 | -97.1% |
| Taxes, remuneration and social security | 45 | €11,606 | €0 | -€11,606 | -100.0% |
| Taxes | 450/3 | €11,606 | €0 | -€11,606 | -100.0% |
| Other amounts payable | 47/48 | €340,943 | €467,075 | +€126,133 | +37.0% |
| Accrued charges and deferred income | 492/3 | €27,500 | €110,000 | +€82,500 | +300.0% |
| Other operating charges | 640/8 | €4,238 | €687 | -€3,552 | -83.8% |
| Gross operating margin | 9900 | -€15,946 | €291,182 | +€307,129 | |
| Operating profit (loss) | 9901 | -€20,185 | €290,496 | +€310,681 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,738 | €2,036 | +€298 | +17.1% |
| Recurring financial charges | 65 | €1,738 | €2,036 | +€298 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,922 | €288,460 | +€310,382 | |
| Income taxes | 67/77 | - | €37,392 | +€37,392 | |
| Profit (loss) for the period | 9904 | -€21,922 | €251,068 | +€272,990 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,922 | €251,068 | +€272,990 |
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 2 October 2026 via checked.be.