Vanhoeck Philippe: 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.
Vanhoeck Philippe
Largest movements
- Cash +€137,761
up €137,761 (+152.4%), from €90,377 to €228,137
mainly Receivables within one year (+€133,641) and Net result for the year (+€59,072)
- Receivables within one year -€133,641
down €133,641 (-98.1%), from €136,243 to €2,602
- Tangible fixed assets +€47,722
up €47,722 (+178.8%), from €26,696 to €74,418
of which Furniture and vehicles: +€47,722
- Reserves +€59,072
up €59,072 (+18.6%), from €317,388 to €376,460
- Gross operating margin +€32,260
up €32,260 (+59.9%), from €53,840 to €86,100
- Taxes +€8,702
up €8,702 (+62.4%), from €13,938 to €22,639
- Depreciation +€2,658
up €2,658 (+57.2%), from €4,647 to €7,305
- Financial charges -€2,069
down €2,069 (-74.4%), from €2,782 to €712
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 | €390,866 | €446,941 | +€56,076 | +14.3% |
| Fixed assets | 21/28 | €26,696 | €74,418 | +€47,722 | +178.8% |
| Tangible fixed assets | 22/27 | €26,696 | €74,418 | +€47,722 | +178.8% |
| Furniture and vehicles | 24 | €19,896 | €67,618 | +€47,722 | +239.9% |
| Other tangible fixed assets | 26 | €6,800 | €6,800 | = | 0.0% |
| Current assets | 29/58 | €364,169 | €372,523 | +€8,354 | +2.3% |
| Amounts receivable within one year | 40/41 | €136,243 | €2,602 | -€133,641 | -98.1% |
| Other amounts receivable | 41 | €136,243 | €2,602 | -€133,641 | -98.1% |
| Current investments | 50/53 | €123,152 | €124,775 | +€1,623 | +1.3% |
| Cash at bank and in hand | 54/58 | €90,377 | €228,137 | +€137,761 | +152.4% |
| Deferred charges and accrued income | 490/1 | €14,397 | €17,008 | +€2,611 | +18.1% |
| Total equity and liabilities | 10/49 | €390,866 | €446,941 | +€56,076 | +14.3% |
| Equity | 10/15 | €367,036 | €426,108 | +€59,072 | +16.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €317,388 | €376,460 | +€59,072 | +18.6% |
| Distributable reserves | 133 | €317,388 | €376,460 | +€59,072 | +18.6% |
| Profit (loss) carried forward | 14 | €37,249 | €37,249 | = | 0.0% |
| Amounts payable | 17/49 | €23,829 | €20,833 | -€2,997 | -12.6% |
| Amounts payable within one year | 42/48 | €23,829 | €19,034 | -€4,795 | -20.1% |
| Trade debts | 44 | €1,156 | €746 | -€410 | -35.5% |
| Suppliers | 440/4 | €1,156 | €746 | -€410 | -35.5% |
| Taxes, remuneration and social security | 45 | €17,138 | €12,736 | -€4,402 | -25.7% |
| Taxes | 450/3 | €17,138 | €12,736 | -€4,402 | -25.7% |
| Other amounts payable | 47/48 | €5,535 | €5,552 | +€17 | +0.3% |
| Accrued charges and deferred income | 492/3 | - | €1,799 | +€1,799 | |
| Non-recurring operating income | 76A | €1,000 | €15,000 | +€14,000 | +1400.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,647 | €7,305 | +€2,658 | +57.2% |
| Other operating charges | 640/8 | €744 | €596 | -€148 | -19.8% |
| Gross operating margin | 9900 | €53,840 | €86,100 | +€32,260 | +59.9% |
| Operating profit (loss) | 9901 | €48,448 | €78,198 | +€29,750 | +61.4% |
| Financial income | 75/76B | €4,681 | €4,225 | -€455 | -9.7% |
| Recurring financial income | 75 | €4,681 | €4,225 | -€455 | -9.7% |
| Financial charges | 65/66B | €2,782 | €712 | -€2,069 | -74.4% |
| Recurring financial charges | 65 | €2,782 | €712 | -€2,069 | -74.4% |
| Profit (loss) for the period before taxes | 9903 | €50,347 | €81,711 | +€31,364 | +62.3% |
| Income taxes | 67/77 | €13,938 | €22,639 | +€8,702 | +62.4% |
| Profit (loss) for the period | 9904 | €36,410 | €59,072 | +€22,662 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,410 | €59,072 | +€22,662 | +62.2% |
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 7 October 2026 via checked.be.