VANHOLD: 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.
What changed
VANHOLD
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€50,753
2024 · -€7,669+€58,422
Equity
€1.8m
2024 · €1.8m+€15,753
Cash
€47,191
2024 · €48,105-€914
Balance sheet total
€2.0m
2024 · €2.0m+€18,423
Largest movements
Assets
- Current investments +€34,281
up €34,281 (+10.4%), from €328,772 to €363,053
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial charges -€65,439
down €65,439, from €43,202 to -€22,237
- Depreciation +€6,742
up €6,742 (+771.4%), from €874 to €7,616
- Financial income -€2,184
down €2,184 (-10.4%), from €21,007 to €18,823
- Gross operating margin +€1,410
up €1,410 (+5.9%), from €23,884 to €25,293
- Taxes -€1,102
down €1,102 (-15.8%), from €6,957 to €5,855
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.
Result 2024
-€7,669
Gross operating margin
+€1,410
Depreciation
-€6,742
Other operating charges
-€602
Financial income
-€2,184
Financial charges
+€65,439
Taxes
+€1,102
Result 2025
€50,753
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.
From operations
+€68,344
Investment
-€34,281
Financing
-€34,976
Cash 2024
€48,105
From operations (derived)
+€68,344
Net result for the year
+€50,753
Depreciation
+€7,616
Receivables within one year
+€7,673
Deferred charges and accrued income
-€345
Trade debts
+€2,608
Tax, wage and social debts
-€4,540
Other debts
+€7,573
Accrued charges and deferred income
-€2,995
Investment (derived)
-€34,281
Current investments
-€34,281
Financing
-€34,976
Debts after one year
+€24
Contributions, distributions and other
-€35,000
Cash 2025
€47,191
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,006,699 | €2,025,122 | +€18,423 | +0.9% |
| Fixed assets | 21/28 | €1,415,175 | €1,407,559 | -€7,616 | -0.5% |
| Tangible fixed assets | 22/27 | €21,975 | €14,359 | -€7,616 | -34.7% |
| Furniture and vehicles | 24 | €21,975 | €14,359 | -€7,616 | -34.7% |
| Financial fixed assets | 28 | €1,393,200 | €1,393,200 | = | 0.0% |
| Current assets | 29/58 | €591,524 | €617,564 | +€26,039 | +4.4% |
| Amounts receivable within one year | 40/41 | €213,206 | €205,533 | -€7,673 | -3.6% |
| Trade receivables | 40 | €116,160 | €106,480 | -€9,680 | -8.3% |
| Other amounts receivable | 41 | €97,046 | €99,053 | +€2,007 | +2.1% |
| Current investments | 50/53 | €328,772 | €363,053 | +€34,281 | +10.4% |
| Cash at bank and in hand | 54/58 | €48,105 | €47,191 | -€914 | -1.9% |
| Deferred charges and accrued income | 490/1 | €1,441 | €1,786 | +€345 | +23.9% |
| Total equity and liabilities | 10/49 | €2,006,699 | €2,025,122 | +€18,423 | +0.9% |
| Equity | 10/15 | €1,812,050 | €1,827,802 | +€15,753 | +0.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,612,050 | €1,627,802 | +€15,753 | +1.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €1,592,050 | €1,607,802 | +€15,753 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €194,650 | €197,320 | +€2,670 | +1.4% |
| Amounts payable after more than one year | 17 | €140,762 | €140,785 | +€24 | 0.0% |
| Other amounts payable | 178/9 | €140,762 | €140,785 | +€24 | 0.0% |
| Amounts payable within one year | 42/48 | €40,779 | €46,421 | +€5,641 | +13.8% |
| Trade debts | 44 | €192 | €2,800 | +€2,608 | +1358.7% |
| Suppliers | 440/4 | €192 | €2,800 | +€2,608 | +1358.7% |
| Taxes, remuneration and social security | 45 | €10,868 | €6,328 | -€4,540 | -41.8% |
| Taxes | 450/3 | €10,868 | €6,328 | -€4,540 | -41.8% |
| Other amounts payable | 47/48 | €29,720 | €37,293 | +€7,573 | +25.5% |
| Accrued charges and deferred income | 492/3 | €13,108 | €10,114 | -€2,995 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €874 | €7,616 | +€6,742 | +771.4% |
| Other operating charges | 640/8 | €1,527 | €2,129 | +€602 | +39.4% |
| Gross operating margin | 9900 | €23,884 | €25,293 | +€1,410 | +5.9% |
| Operating profit (loss) | 9901 | €21,483 | €15,548 | -€5,935 | -27.6% |
| Financial income | 75/76B | €21,007 | €18,823 | -€2,184 | -10.4% |
| Recurring financial income | 75 | €21,007 | €18,823 | -€2,184 | -10.4% |
| Financial charges | 65/66B | €43,202 | -€22,237 | -€65,439 | |
| Recurring financial charges | 65 | €43,202 | -€22,237 | -€65,439 | |
| Profit (loss) for the period before taxes | 9903 | -€712 | €56,608 | +€57,320 | |
| Income taxes | 67/77 | €6,957 | €5,855 | -€1,102 | -15.8% |
| Profit (loss) for the period | 9904 | -€7,669 | €50,753 | +€58,422 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,669 | €50,753 | +€58,422 |
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 12 October 2026 via checked.be.