VANHOSTA: 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
VANHOSTA
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · -€332,510+€1.9m
Equity
€39.1m
2024 · €38.7m+€320,340
Cash
€1.4m
2024 · €85,578+€1.4m
Balance sheet total
€53.0m
2024 · €54.0m-€969,979
Largest movements
Assets
- Tangible fixed assets -€5.1m
down €5.1m (-15.4%), from €32.9m to €27.8m
of which Land and buildings: -€5.1m
- Stocks and contracts +€3.2m
up €3.2m (+29.3%), from €10.9m to €14.1m
- Cash +€1.4m
up €1.4m (+1,592%), from €85,578 to €1.4m
mainly Investment in fixed assets (net) (+€5.1m) and Net result for the year (+€1.5m)
- Financial fixed assets -€768,887
down €768,887 (-10.0%), from €7.7m to €6.9m
Equity and liabilities
- Current portion of long-term debt -€725,000
down €725,000 (-32.6%), from €2.2m to €1.5m
Income statement
- Financial income +€878,389
up €878,389 (+460%), from €191,067 to €1.1m
- Gross operating margin +€631,146
up €631,146 (+35.6%), from €1.8m to €2.4m
- Taxes +€220,725
up €220,725 (+142%), from €155,870 to €376,595
- Other operating charges -€138,034
down €138,034 (-39.1%), from €353,064 to €215,030
- Staff costs +€116,435
up €116,435 (+19.4%), from €601,651 to €718,086
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
-€332,510
Gross operating margin
+€631,146
Staff costs
-€116,435
Depreciation
+€929
Write-downs
-€24,929
Other operating charges
+€138,034
Other operating items
+€154,459
Financial income
+€878,389
Financial charges
+€75,178
Taxes
-€220,725
Deferred taxes and other
+€362,331
Result 2025
€1.5m
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
-€1.5m
Investment
+€5.1m
Financing
-€2.3m
Cash 2024
€85,578
From operations (derived)
-€1.5m
Net result for the year
+€1.5m
Depreciation
+€745,845
Receivables after one year
+€100,000
Stocks and contracts
-€3.2m
Receivables within one year
-€303,300
Deferred charges and accrued income
-€94,418
Provisions
-€9,107
Trade debts
-€487,730
Tax, wage and social debts
+€151,553
Advances received
+€104,843
Other debts
-€47,593
Accrued charges and deferred income
+€34,489
Investment (derived)
+€5.1m
Investment in fixed assets (net)
+€5.1m
Financing
-€2.3m
Debts after one year
-€500,000
Current portion of long-term debt
-€725,000
Short-term financial debts
+€188,228
Contributions, distributions and other
-€1.2m
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,992,440 | €53,022,461 | -€969,979 | -1.8% |
| Fixed assets | 21/28 | €40,540,770 | €34,701,843 | -€5.8m | -14.4% |
| Tangible fixed assets | 22/27 | €32,862,676 | €27,792,635 | -€5.1m | -15.4% |
| Land and buildings | 22 | €31,486,479 | €26,405,557 | -€5.1m | -16.1% |
| Plant, machinery and equipment | 23 | €593 | €189 | -€404 | -68.1% |
| Furniture and vehicles | 24 | €89,663 | €50,421 | -€39,242 | -43.8% |
| Other tangible fixed assets | 26 | €786,021 | €786,021 | = | 0.0% |
| Assets under construction and advance payments | 27 | €499,921 | €550,447 | +€50,526 | +10.1% |
| Financial fixed assets | 28 | €7,678,095 | €6,909,208 | -€768,887 | -10.0% |
| Current assets | 29/58 | €13,451,670 | €18,320,618 | +€4.9m | +36.2% |
| Amounts receivable after more than one year | 29 | €875,413 | €775,413 | -€100,000 | -11.4% |
| Other amounts receivable | 291 | €875,413 | €775,413 | -€100,000 | -11.4% |
| Stocks and contracts in progress | 3 | €10,940,137 | €14,148,926 | +€3.2m | +29.3% |
| Stocks | 30/36 | €10,940,137 | €14,148,926 | +€3.2m | +29.3% |
| Amounts receivable within one year | 40/41 | €1,054,723 | €1,358,024 | +€303,300 | +28.8% |
| Trade receivables | 40 | €1,023,046 | €426,002 | -€597,044 | -58.4% |
| Other amounts receivable | 41 | €31,677 | €932,022 | +€900,345 | +2,842% |
| Cash at bank and in hand | 54/58 | €85,578 | €1,448,019 | +€1.4m | +1,592% |
| Deferred charges and accrued income | 490/1 | €495,819 | €590,237 | +€94,418 | +19.0% |
| Total equity and liabilities | 10/49 | €53,992,440 | €53,022,461 | -€969,979 | -1.8% |
| Equity | 10/15 | €38,734,826 | €39,055,165 | +€320,340 | +0.8% |
| Contributions | 10/11 | €12,373,637 | €12,373,637 | = | 0.0% |
| Reserves | 13 | €26,078,661 | €26,399,000 | +€320,340 | +1.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,452,164 | €793,342 | -€658,822 | -45.4% |
| Distributable reserves | 133 | €24,626,497 | €25,605,659 | +€979,161 | +4.0% |
| Profit (loss) carried forward | 14 | €282,528 | €282,528 | = | 0.0% |
| Provisions and deferred taxes | 16 | €305,923 | €296,815 | -€9,107 | -3.0% |
| Provisions for liabilities and charges | 160/5 | €229,509 | €229,509 | = | 0.0% |
| Pensions and similar obligations | 160 | €229,509 | €229,509 | = | 0.0% |
| Deferred taxes | 168 | €76,414 | €67,306 | -€9,107 | -11.9% |
| Amounts payable | 17/49 | €14,951,691 | €13,670,480 | -€1.3m | -8.6% |
| Amounts payable after more than one year | 17 | €3,345,498 | €2,845,498 | -€500,000 | -14.9% |
| Financial debts | 170/4 | €3,333,333 | €2,833,333 | -€500,000 | -15.0% |
| Other amounts payable | 178/9 | €12,165 | €12,165 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,578,521 | €10,762,821 | -€815,700 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €2,225,000 | €1,500,000 | -€725,000 | -32.6% |
| Financial debts | 43 | €7,559,530 | €7,747,757 | +€188,228 | +2.5% |
| Credit institutions | 430/8 | €7,559,530 | €7,747,757 | +€188,228 | +2.5% |
| Trade debts | 44 | €642,316 | €154,586 | -€487,730 | -75.9% |
| Suppliers | 440/4 | €642,316 | €154,586 | -€487,730 | -75.9% |
| Advances received on contracts in progress | 46 | - | €104,843 | +€104,843 | |
| Taxes, remuneration and social security | 45 | €223,162 | €374,715 | +€151,553 | +67.9% |
| Taxes | 450/3 | €164,018 | €307,575 | +€143,557 | +87.5% |
| Remuneration and social security | 454/9 | €59,144 | €67,140 | +€7,996 | +13.5% |
| Other amounts payable | 47/48 | €928,514 | €880,920 | -€47,593 | -5.1% |
| Accrued charges and deferred income | 492/3 | €27,672 | €62,161 | +€34,489 | +125% |
| Non-recurring operating income | 76A | €22,311 | €189,131 | +€166,820 | +748% |
| Remuneration, social security and pensions | 62 | €601,651 | €718,086 | +€116,435 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €746,774 | €745,845 | -€929 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€24,929 | €0 | +€24,929 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €353,064 | €215,030 | -€138,034 | -39.1% |
| Non-recurring operating charges | 66A | €178,857 | €24,398 | -€154,459 | -86.4% |
| Gross operating margin | 9900 | €1,772,254 | €2,403,400 | +€631,146 | +35.6% |
| Operating profit (loss) | 9901 | -€83,164 | €700,040 | +€783,204 | |
| Financial income | 75/76B | €191,067 | €1,069,455 | +€878,389 | +460% |
| Recurring financial income | 75 | €191,067 | €1,069,455 | +€878,389 | +460% |
| Financial charges | 65/66B | €562,819 | €487,641 | -€75,178 | -13.4% |
| Recurring financial charges | 65 | €562,819 | €487,641 | -€75,178 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | -€454,916 | €1,281,854 | +€1.7m | |
| Transfer from deferred taxes | 780 | €278,276 | €640,607 | +€362,331 | +130% |
| Income taxes | 67/77 | €155,870 | €376,595 | +€220,725 | +142% |
| Profit (loss) for the period | 9904 | -€332,510 | €1,545,867 | +€1.9m | |
| Transfer from tax-exempt reserves | 789 | €585,860 | €27,322 | -€558,538 | -95.3% |
| Transfer to tax-exempt reserves | 689 | €239,970 | €0 | -€239,970 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €13,380 | €1,573,188 | +€1.6m | +11,658% |
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 25 October 2026 via checked.be.