VANHOUCKE ACCOUNTING: what changed
Two fiscal 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.
VANHOUCKE ACCOUNTING
Largest movements
- Financial fixed assets +€279,632
up €279,632 (+235.0%), from €119,003 to €398,635
- Receivables after one year -€35,000
down €35,000 (-58.3%), from €60,000 to €25,000
- Receivables within one year -€31,665
down €31,665 (-59.4%), from €53,267 to €21,602
of which Other amounts receivable: -€36,556
- Cash +€9,480
up €9,480 (+480.0%), from €1,975 to €11,455
mainly Net result for the year (+€116,527) and Debts after one year (+€104,652)
- Debts after one year +€104,652
up €104,652 (+681.9%), from €15,348 to €120,000
- Other debts +€92,804
new in 2025: €92,804
- Reserves +€18,596
up €18,596 (+10.2%), from €181,534 to €200,130
- Tax, wage and social debts +€9,332
up €9,332 (+64.6%), from €14,452 to €23,784
- Current portion of long-term debt -€4,923
down €4,923 (-24.3%), from €20,271 to €15,348
- Gross operating margin +€101,791
up €101,791 (+158.9%), from €64,060 to €165,851
- Taxes +€29,907
up €29,907 (+176.8%), from €16,916 to €46,824
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 | €236,830 | €457,295 | +€220,465 | +93.1% |
| Fixed assets | 21/28 | €121,588 | €399,238 | +€277,650 | +228.4% |
| Tangible fixed assets | 22/27 | €2,585 | €603 | -€1,982 | -76.7% |
| Furniture and vehicles | 24 | €2,585 | €603 | -€1,982 | -76.7% |
| Financial fixed assets | 28 | €119,003 | €398,635 | +€279,632 | +235.0% |
| Current assets | 29/58 | €115,242 | €58,057 | -€57,185 | -49.6% |
| Amounts receivable after more than one year | 29 | €60,000 | €25,000 | -€35,000 | -58.3% |
| Trade receivables | 290 | €60,000 | €25,000 | -€35,000 | -58.3% |
| Amounts receivable within one year | 40/41 | €53,267 | €21,602 | -€31,665 | -59.4% |
| Trade receivables | 40 | €16,711 | €21,602 | +€4,891 | +29.3% |
| Other amounts receivable | 41 | €36,556 | - | -€36,556 | |
| Cash at bank and in hand | 54/58 | €1,975 | €11,455 | +€9,480 | +480.0% |
| Total equity and liabilities | 10/49 | €236,830 | €457,295 | +€220,465 | +93.1% |
| Equity | 10/15 | €186,534 | €205,130 | +€18,596 | +10.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €181,534 | €200,130 | +€18,596 | +10.2% |
| Distributable reserves | 133 | €181,534 | €200,130 | +€18,596 | +10.2% |
| Amounts payable | 17/49 | €50,296 | €252,165 | +€201,870 | +401.4% |
| Amounts payable after more than one year | 17 | €15,348 | €120,000 | +€104,652 | +681.9% |
| Financial debts | 170/4 | €15,348 | €120,000 | +€104,652 | +681.9% |
| Amounts payable within one year | 42/48 | €34,948 | €132,165 | +€97,218 | +278.2% |
| Current portion of amounts payable after more than one year | 42 | €20,271 | €15,348 | -€4,923 | -24.3% |
| Financial debts | 43 | €50 | €52 | +€2 | +4.0% |
| Credit institutions | 430/8 | €50 | €52 | +€2 | +4.0% |
| Trade debts | 44 | €175 | €177 | +€2 | +1.4% |
| Suppliers | 440/4 | €175 | €177 | +€2 | +1.4% |
| Taxes, remuneration and social security | 45 | €14,452 | €23,784 | +€9,332 | +64.6% |
| Taxes | 450/3 | €14,452 | €23,784 | +€9,332 | +64.6% |
| Other amounts payable | 47/48 | - | €92,804 | +€92,804 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,996 | €1,982 | -€14 | -0.7% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €64,060 | €165,851 | +€101,791 | +158.9% |
| Operating profit (loss) | 9901 | €61,495 | €163,284 | +€101,789 | +165.5% |
| Financial income | 75/76B | €1,560 | €1,560 | = | 0.0% |
| Recurring financial income | 75 | €1,560 | €1,560 | = | 0.0% |
| Financial charges | 65/66B | €739 | €1,494 | +€755 | +102.2% |
| Recurring financial charges | 65 | €739 | €1,494 | +€755 | +102.2% |
| Profit (loss) for the period before taxes | 9903 | €62,316 | €163,351 | +€101,034 | +162.1% |
| Income taxes | 67/77 | €16,916 | €46,824 | +€29,907 | +176.8% |
| Profit (loss) for the period | 9904 | €45,400 | €116,527 | +€71,127 | +156.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,400 | €116,527 | +€71,127 | +156.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.