VANHOOREN: 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
VANHOOREN
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,107
2024 · €87,317-€55,210
Equity
€2.9m
2024 · €2.8m+€32,107
Cash
€552,851
2024 · €61,820+€491,031
Balance sheet total
€5.5m
2024 · €4.7m+€839,597
Largest movements
Assets
- Current investments -€493,526
down €493,526 (-98.7%), from €500,000 to €6,474
- Cash +€491,031
up €491,031 (+794%), from €61,820 to €552,851
mainly Current investments (+€493,526) and Other debts (+€481,991)
- Tangible fixed assets +€486,420
up €486,420 (+12.2%), from €4.0m to €4.5m
of which Land and buildings: +€476,027
- Stocks and contracts +€345,000
up €345,000 (+351%), from €98,314 to €443,314
Equity and liabilities
- Other debts +€481,991
up €481,991 (+77.5%), from €621,867 to €1.1m
- Debts after one year +€256,252
up €256,252 (+39.4%), from €650,189 to €906,441
of which Financial debts: +€255,167
Income statement
- Gross operating margin -€69,784
down €69,784 (-18.7%), from €373,011 to €303,227
- Other operating charges -€50,406
down €50,406 (-47.2%), from €106,863 to €56,457
- Financial income -€37,163
down €37,163 (-81.4%), from €45,654 to €8,490
- Taxes -€31,336
down €31,336, from €31,336 to -€0
- Depreciation +€12,782
up €12,782 (+10.2%), from €125,763 to €138,545
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
€87,317
Gross operating margin
-€69,784
Depreciation
-€12,782
Other operating charges
+€50,406
Financial income
-€37,163
Financial charges
-€7,686
Taxes
+€31,336
Deferred taxes and other
-€9,538
Result 2025
€32,107
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€320,219
Investment
-€131,440
Financing
+€302,252
Cash 2024
€61,820
From operations (derived)
+€320,219
Net result for the year
+€32,107
Depreciation
+€138,545
Stocks and contracts
-€345,000
Receivables within one year
-€7,547
Deferred charges and accrued income
-€3,125
Provisions
+€19,006
Trade debts
+€3,258
Smaller working-capital items
+€985
Other debts
+€481,991
Investment (derived)
-€131,440
Investment in fixed assets (net)
-€624,966
Current investments
+€493,526
Financing
+€302,252
Debts after one year
+€256,252
Current portion of long-term debt
+€46,000
Cash 2025
€552,851
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,688,017 | €5,527,615 | +€839,597 | +17.9% |
| Fixed assets | 21/28 | €4,013,660 | €4,500,080 | +€486,420 | +12.1% |
| Tangible fixed assets | 22/27 | €3,998,410 | €4,484,830 | +€486,420 | +12.2% |
| Land and buildings | 22 | €3,968,997 | €4,445,024 | +€476,027 | +12.0% |
| Plant, machinery and equipment | 23 | €27,077 | €38,250 | +€11,173 | +41.3% |
| Furniture and vehicles | 24 | €2,336 | €1,556 | -€780 | -33.4% |
| Financial fixed assets | 28 | €15,250 | €15,250 | = | 0.0% |
| Current assets | 29/58 | €674,358 | €1,027,535 | +€353,177 | +52.4% |
| Stocks and contracts in progress | 3 | €98,314 | €443,314 | +€345,000 | +351% |
| Stocks | 30/36 | €98,314 | €443,314 | +€345,000 | +351% |
| Amounts receivable within one year | 40/41 | €12,360 | €19,907 | +€7,547 | +61.1% |
| Other amounts receivable | 41 | €12,360 | €19,907 | +€7,547 | +61.1% |
| Current investments | 50/53 | €500,000 | €6,474 | -€493,526 | -98.7% |
| Cash at bank and in hand | 54/58 | €61,820 | €552,851 | +€491,031 | +794% |
| Deferred charges and accrued income | 490/1 | €1,864 | €4,988 | +€3,125 | +168% |
| Total equity and liabilities | 10/49 | €4,688,017 | €5,527,615 | +€839,597 | +17.9% |
| Equity | 10/15 | €2,837,608 | €2,869,715 | +€32,107 | +1.1% |
| Contributions | 10/11 | €653,000 | €653,000 | = | 0.0% |
| Capital | 10 | €653,000 | €653,000 | = | 0.0% |
| Issued capital | 100 | €653,000 | €653,000 | = | 0.0% |
| Reserves | 13 | €2,184,608 | €2,216,715 | +€32,107 | +1.5% |
| Non-distributable reserves | 130/1 | €66,315 | €66,315 | = | 0.0% |
| Legal reserve | 130 | €63,340 | €63,340 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,975 | €2,975 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,227,285 | €1,284,302 | +€57,017 | +4.6% |
| Distributable reserves | 133 | €891,008 | €866,099 | -€24,910 | -2.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €409,095 | €428,101 | +€19,006 | +4.6% |
| Deferred taxes | 168 | €409,095 | €428,101 | +€19,006 | +4.6% |
| Amounts payable | 17/49 | €1,441,314 | €2,229,799 | +€788,485 | +54.7% |
| Amounts payable after more than one year | 17 | €650,189 | €906,441 | +€256,252 | +39.4% |
| Financial debts | 170/4 | €642,499 | €897,666 | +€255,167 | +39.7% |
| Other amounts payable | 178/9 | €7,690 | €8,775 | +€1,085 | +14.1% |
| Amounts payable within one year | 42/48 | €748,148 | €1,279,087 | +€530,939 | +71.0% |
| Current portion of amounts payable after more than one year | 42 | €116,667 | €162,667 | +€46,000 | +39.4% |
| Trade debts | 44 | €843 | €4,101 | +€3,258 | +386% |
| Suppliers | 440/4 | €843 | €4,101 | +€3,258 | +386% |
| Taxes, remuneration and social security | 45 | €8,770 | €8,462 | -€309 | -3.5% |
| Taxes | 450/3 | €8,770 | €8,462 | -€309 | -3.5% |
| Other amounts payable | 47/48 | €621,867 | €1,103,858 | +€481,991 | +77.5% |
| Accrued charges and deferred income | 492/3 | €42,977 | €44,271 | +€1,294 | +3.0% |
| Non-recurring operating income | 76A | €96,000 | €136,500 | +€40,500 | +42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,763 | €138,545 | +€12,782 | +10.2% |
| Other operating charges | 640/8 | €106,863 | €56,457 | -€50,406 | -47.2% |
| Gross operating margin | 9900 | €373,011 | €303,227 | -€69,784 | -18.7% |
| Operating profit (loss) | 9901 | €140,385 | €108,225 | -€32,160 | -22.9% |
| Financial income | 75/76B | €45,654 | €8,490 | -€37,163 | -81.4% |
| Recurring financial income | 75 | €45,654 | €8,490 | -€37,163 | -81.4% |
| Financial charges | 65/66B | €57,917 | €65,603 | +€7,686 | +13.3% |
| Recurring financial charges | 65 | €57,917 | €65,603 | +€7,686 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €128,121 | €51,112 | -€77,009 | -60.1% |
| Transfer from deferred taxes | 780 | €13,282 | €15,119 | +€1,837 | +13.8% |
| Transfer to deferred taxes | 680 | €22,750 | €34,125 | +€11,375 | +50.0% |
| Income taxes | 67/77 | €31,336 | -€0 | -€31,336 | |
| Profit (loss) for the period | 9904 | €87,317 | €32,107 | -€55,210 | -63.2% |
| Transfer from tax-exempt reserves | 789 | €39,846 | €45,358 | +€5,512 | +13.8% |
| Transfer to tax-exempt reserves | 689 | €68,250 | €102,375 | +€34,125 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,913 | -€24,910 | -€83,823 |
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 23 October 2026 via checked.be.