VANHOL: 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.
VANHOL
Largest movements
- Receivables within one year -€12,421
no longer reported in 2025 (was €12,421)
of which Other amounts receivable: -€12,419
- Financial fixed assets -€190
no longer reported in 2025 (was €190)
- Profit (loss) carried forward -€13,986
down €13,986 (-39.4%), from -€35,475 to -€49,462
- Other debts +€5,628
up €5,628 (+97.1%), from €5,795 to €11,424
- Short-term financial debts -€4,250
down €4,250 (-85.7%), from €4,960 to €710
- Staff costs -€27,015
no longer reported in 2025 (was €27,015)
- Gross operating margin -€20,459
down €20,459, from €18,823 to -€1,636
- Financial charges +€9,902
up €9,902 (+510.5%), from €1,940 to €11,842
of which Non-recurring financial charges: +€10,657
- Write-downs +€1,000
no longer reported in 2025 (was -€1,000)
- Other operating charges -€973
down €973 (-65.7%), from €1,482 to €509
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 | €13,159 | €548 | -€12,611 | -95.8% |
| Fixed assets | 21/28 | €190 | - | -€190 | |
| Financial fixed assets | 28 | €190 | - | -€190 | |
| Current assets | 29/58 | €12,969 | €548 | -€12,421 | -95.8% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,421 | - | -€12,421 | |
| Trade receivables | 40 | €2 | - | -€2 | |
| Other amounts receivable | 41 | €12,419 | - | -€12,419 | |
| Cash at bank and in hand | 54/58 | €48 | €48 | = | 0.0% |
| Total equity and liabilities | 10/49 | €13,159 | €548 | -€12,611 | -95.8% |
| Equity | 10/15 | -€5,015 | -€19,002 | -€13,986 | -278.9% |
| Contributions | 10/11 | €28,600 | €28,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,475 | -€49,462 | -€13,986 | -39.4% |
| Amounts payable | 17/49 | €18,175 | €19,550 | +€1,375 | +7.6% |
| Amounts payable within one year | 42/48 | €18,175 | €19,550 | +€1,375 | +7.6% |
| Financial debts | 43 | €4,960 | €710 | -€4,250 | -85.7% |
| Credit institutions | 430/8 | €4,960 | €710 | -€4,250 | -85.7% |
| Trade debts | 44 | €7,274 | €7,283 | +€10 | +0.1% |
| Suppliers | 440/4 | €7,274 | €7,283 | +€10 | +0.1% |
| Taxes, remuneration and social security | 45 | €145 | €133 | -€12 | -8.3% |
| Taxes | 450/3 | €145 | €133 | -€12 | -8.3% |
| Other amounts payable | 47/48 | €5,795 | €11,424 | +€5,628 | +97.1% |
| Remuneration, social security and pensions | 62 | €27,015 | - | -€27,015 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,000 | - | +€1,000 | |
| Other operating charges | 640/8 | €1,482 | €509 | -€973 | -65.7% |
| Gross operating margin | 9900 | €18,823 | -€1,636 | -€20,459 | |
| Operating profit (loss) | 9901 | -€8,674 | -€2,144 | +€6,530 | +75.3% |
| Financial charges | 65/66B | €1,940 | €11,842 | +€9,902 | +510.5% |
| Recurring financial charges | 65 | €1,337 | €582 | -€755 | -56.5% |
| Non-recurring financial charges | 66B | €603 | €11,260 | +€10,657 | +1768.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,614 | -€13,986 | -€3,372 | -31.8% |
| Profit (loss) for the period | 9904 | -€10,614 | -€13,986 | -€3,372 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,614 | -€13,986 | -€3,372 | -31.8% |
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 11 October 2026 via checked.be.