VANHOLDER-HUYBENS: 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.
VANHOLDER-HUYBENS
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€194,106
up €194,106 (+933%), from €20,806 to €214,911
mainly Current investments (+€200,000) and Depreciation (+€12,561)
- Tangible fixed assets -€12,561
down €12,561 (-20.4%), from €61,550 to €48,989
- Profit (loss) carried forward -€16,128
down €16,128 (-20.6%), from €78,457 to €62,330
- Depreciation +€11,305
up €11,305 (+900%), from €1,256 to €12,561
- Gross operating margin -€3,033
down €3,033 (-86.6%), from -€3,502 to -€6,535
- Financial income -€852
down €852 (-13.8%), from €6,174 to €5,322
of which Financial income: -€2,924
- Other operating charges -€337
down €337 (-12.7%), from €2,653 to €2,316
- Financial charges -€83
down €83 (-68.5%), from €122 to €38
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 | €283,829 | €265,374 | -€18,456 | -6.5% |
| Fixed assets | 21/28 | €62,550 | €49,989 | -€12,561 | -20.1% |
| Tangible fixed assets | 22/27 | €61,550 | €48,989 | -€12,561 | -20.4% |
| Furniture and vehicles | 24 | €61,550 | €48,989 | -€12,561 | -20.4% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €221,280 | €215,385 | -€5,894 | -2.7% |
| Amounts receivable within one year | 40/41 | €474 | €474 | = | 0.0% |
| Other amounts receivable | 41 | €474 | €474 | = | 0.0% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €20,806 | €214,911 | +€194,106 | +933% |
| Total equity and liabilities | 10/49 | €283,829 | €265,374 | -€18,456 | -6.5% |
| Equity | 10/15 | €119,327 | €103,199 | -€16,128 | -13.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €1,860 | €1,860 | = | 0.0% |
| Other | 1109/19 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €20,410 | €20,410 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,410 | €20,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,457 | €62,330 | -€16,128 | -20.6% |
| Provisions and deferred taxes | 16 | €40,000 | €40,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €40,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable | 17/49 | €124,502 | €122,174 | -€2,328 | -1.9% |
| Amounts payable within one year | 42/48 | €124,502 | €122,174 | -€2,328 | -1.9% |
| Other amounts payable | 47/48 | €124,502 | €122,174 | -€2,328 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,256 | €12,561 | +€11,305 | +900% |
| Other operating charges | 640/8 | €2,653 | €2,316 | -€337 | -12.7% |
| Gross operating margin | 9900 | -€3,502 | -€6,535 | -€3,033 | -86.6% |
| Operating profit (loss) | 9901 | -€7,411 | -€21,412 | -€14,001 | -189% |
| Financial income | 75/76B | €6,174 | €5,322 | -€852 | -13.8% |
| Recurring financial income | 75 | €5,918 | €2,994 | -€2,924 | -49.4% |
| Non-recurring financial income | 76B | €256 | €2,328 | +€2,072 | +809% |
| Financial charges | 65/66B | €122 | €38 | -€83 | -68.5% |
| Recurring financial charges | 65 | €122 | €38 | -€83 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,358 | -€16,128 | -€14,770 | -1,087% |
| Profit (loss) for the period | 9904 | -€1,358 | -€16,128 | -€14,770 | -1,087% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,358 | -€16,128 | -€14,770 | -1,087% |
Source: filed annual accounts (NBB), financial years ended 1 September 2024 and 1 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.