VANHOECKE CONSTRUCT: 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.
VANHOECKE CONSTRUCT
Largest movements
- Tangible fixed assets +€20,449
up €20,449 (+76.1%), from €26,856 to €47,305
of which Furniture and vehicles: +€21,792
- Stocks and contracts -€4,074
no longer reported in 2025 (was €4,074)
- Receivables within one year +€3,674
up €3,674 (+11.0%), from €33,497 to €37,172
of which Other amounts receivable: +€32,942
- Deferred charges and accrued income +€1,733
up €1,733 (+114%), from €1,516 to €3,249
- Cash -€1,226
down €1,226 (-30.3%), from €4,046 to €2,820
mainly Investment in fixed assets (net) (-€33,495) and Other debts (-€5,686)
- Debts after one year +€22,673
new in 2025: €22,673
- Current portion of long-term debt +€10,787
up €10,787 (+493%), from €2,189 to €12,976
- Other debts -€5,686
no longer reported in 2025 (was €5,686)
- Trade debts -€4,788
down €4,788 (-24.4%), from €19,650 to €14,862
- Tax, wage and social debts +€3,355
up €3,355 (+109%), from €3,084 to €6,439
of which Taxes: +€2,130
- Gross operating margin -€7,399
down €7,399 (-44.0%), from €16,798 to €9,399
- Depreciation +€5,865
up €5,865 (+81.5%), from €7,196 to €13,061
- Taxes -€2,759
no longer reported in 2025 (was €2,759)
- Financial income +€1,095
up €1,095 (+565%), from €194 to €1,288
- Other operating charges +€179
up €179 (+17.8%), from €1,006 to €1,185
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 | €70,003 | €90,545 | +€20,541 | +29.3% |
| Fixed assets | 21/28 | €26,871 | €47,305 | +€20,434 | +76.0% |
| Tangible fixed assets | 22/27 | €26,856 | €47,305 | +€20,449 | +76.1% |
| Land and buildings | 22 | €6,134 | €5,790 | -€344 | -5.6% |
| Plant, machinery and equipment | 23 | €1,720 | €721 | -€1,000 | -58.1% |
| Furniture and vehicles | 24 | €19,001 | €40,794 | +€21,792 | +115% |
| Financial fixed assets | 28 | €15 | - | -€15 | |
| Current assets | 29/58 | €43,133 | €43,240 | +€107 | +0.2% |
| Stocks and contracts in progress | 3 | €4,074 | - | -€4,074 | |
| Stocks | 30/36 | €4,074 | - | -€4,074 | |
| Amounts receivable within one year | 40/41 | €33,497 | €37,172 | +€3,674 | +11.0% |
| Trade receivables | 40 | €32,800 | €3,533 | -€29,268 | -89.2% |
| Other amounts receivable | 41 | €697 | €33,639 | +€32,942 | +4,725% |
| Cash at bank and in hand | 54/58 | €4,046 | €2,820 | -€1,226 | -30.3% |
| Deferred charges and accrued income | 490/1 | €1,516 | €3,249 | +€1,733 | +114% |
| Total equity and liabilities | 10/49 | €70,003 | €90,545 | +€20,541 | +29.3% |
| Equity | 10/15 | €37,494 | €32,328 | -€5,166 | -13.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €25,094 | €22,560 | -€2,534 | -10.1% |
| Tax-exempt reserves | 132 | €7,603 | €5,069 | -€2,534 | -33.3% |
| Distributable reserves | 133 | €17,491 | €17,491 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,631 | -€2,631 | |
| Provisions and deferred taxes | 16 | €1,901 | €1,267 | -€634 | -33.3% |
| Deferred taxes | 168 | €1,901 | €1,267 | -€634 | -33.3% |
| Amounts payable | 17/49 | €30,609 | €56,949 | +€26,341 | +86.1% |
| Amounts payable after more than one year | 17 | - | €22,673 | +€22,673 | |
| Financial debts | 170/4 | - | €22,673 | +€22,673 | |
| Amounts payable within one year | 42/48 | €30,609 | €34,277 | +€3,668 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €2,189 | €12,976 | +€10,787 | +493% |
| Trade debts | 44 | €19,650 | €14,862 | -€4,788 | -24.4% |
| Suppliers | 440/4 | €19,650 | €14,862 | -€4,788 | -24.4% |
| Taxes, remuneration and social security | 45 | €3,084 | €6,439 | +€3,355 | +109% |
| Taxes | 450/3 | €3,084 | €5,214 | +€2,130 | +69.1% |
| Remuneration and social security | 454/9 | - | €1,225 | +€1,225 | |
| Other amounts payable | 47/48 | €5,686 | - | -€5,686 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,196 | €13,061 | +€5,865 | +81.5% |
| Other operating charges | 640/8 | €1,006 | €1,185 | +€179 | +17.8% |
| Gross operating margin | 9900 | €16,798 | €9,399 | -€7,399 | -44.0% |
| Operating profit (loss) | 9901 | €8,596 | -€4,847 | -€13,442 | |
| Financial income | 75/76B | €194 | €1,288 | +€1,095 | +565% |
| Recurring financial income | 75 | €194 | €1,288 | +€1,095 | +565% |
| Financial charges | 65/66B | €2,292 | €2,241 | -€50 | -2.2% |
| Recurring financial charges | 65 | €2,292 | €2,241 | -€50 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €6,498 | -€5,799 | -€12,297 | |
| Transfer from deferred taxes | 780 | €634 | €634 | = | 0.0% |
| Income taxes | 67/77 | €2,759 | - | -€2,759 | |
| Profit (loss) for the period | 9904 | €4,373 | -€5,166 | -€9,538 | |
| Transfer from tax-exempt reserves | 789 | €2,534 | €2,534 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,907 | -€2,631 | -€9,538 |
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 31 October 2026 via checked.be.