Vanhoucke Immo: 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.
Vanhoucke Immo
Largest movements
- Cash +€370,755
up €370,755 (+207%), from €178,803 to €549,558
mainly Stocks and contracts (+€294,516) and Depreciation (+€270,088)
- Stocks and contracts -€294,516
down €294,516 (-41.3%), from €713,359 to €418,842
of which Contracts in progress: -€159,206
- Tangible fixed assets -€211,035
down €211,035 (-8.7%), from €2.4m to €2.2m
of which Land and buildings: -€130,141
- Receivables within one year -€39,744
down €39,744 (-36.5%), from €108,858 to €69,114
of which Trade receivables: -€30,762
- Debts after one year -€354,306
down €354,306 (-28.9%), from €1.2m to €870,833
- Profit (loss) carried forward +€218,229
up €218,229 (+50.0%), from €436,320 to €654,549
- Other debts -€127,060
down €127,060 (-77.9%), from €163,179 to €36,119
- Tax, wage and social debts +€67,647
up €67,647 (+491%), from €13,772 to €81,418
of which Taxes: +€42,199
- Advances received +€41,607
new in 2025: €41,607
- Gross operating margin +€322,155
up €322,155 (+48.0%), from €670,691 to €992,846
- Taxes +€66,777
up €66,777 (+1,067%), from €6,261 to €73,037
- Other operating charges +€29,657
up €29,657 (+228%), from €13,016 to €42,673
- Financial charges +€22,902
up €22,902 (+55.9%), from €40,971 to €63,872
- Write-downs -€11,546
no longer reported in 2025 (was €11,546)
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 | €3,434,667 | €3,260,127 | -€174,540 | -5.1% |
| Fixed assets | 21/28 | €2,433,648 | €2,222,613 | -€211,035 | -8.7% |
| Tangible fixed assets | 22/27 | €2,433,323 | €2,222,288 | -€211,035 | -8.7% |
| Land and buildings | 22 | €1,999,397 | €1,869,256 | -€130,141 | -6.5% |
| Plant, machinery and equipment | 23 | €231,847 | €180,316 | -€51,530 | -22.2% |
| Furniture and vehicles | 24 | €202,079 | €172,715 | -€29,363 | -14.5% |
| Financial fixed assets | 28 | €325 | €325 | = | 0.0% |
| Current assets | 29/58 | €1,001,019 | €1,037,514 | +€36,495 | +3.6% |
| Stocks and contracts in progress | 3 | €713,359 | €418,842 | -€294,516 | -41.3% |
| Stocks | 30/36 | €399,552 | €264,242 | -€135,310 | -33.9% |
| Contracts in progress | 37 | €313,807 | €154,600 | -€159,206 | -50.7% |
| Amounts receivable within one year | 40/41 | €108,858 | €69,114 | -€39,744 | -36.5% |
| Trade receivables | 40 | €71,864 | €41,101 | -€30,762 | -42.8% |
| Other amounts receivable | 41 | €36,994 | €28,012 | -€8,981 | -24.3% |
| Cash at bank and in hand | 54/58 | €178,803 | €549,558 | +€370,755 | +207% |
| Total equity and liabilities | 10/49 | €3,434,667 | €3,260,127 | -€174,540 | -5.1% |
| Equity | 10/15 | €1,828,324 | €2,046,552 | +€218,229 | +11.9% |
| Contributions | 10/11 | €1,018,600 | €1,018,600 | = | 0.0% |
| Reserves | 13 | €373,403 | €373,403 | = | 0.0% |
| Distributable reserves | 133 | €373,403 | €373,403 | = | 0.0% |
| Profit (loss) carried forward | 14 | €436,320 | €654,549 | +€218,229 | +50.0% |
| Amounts payable | 17/49 | €1,606,343 | €1,213,574 | -€392,768 | -24.5% |
| Amounts payable after more than one year | 17 | €1,225,140 | €870,833 | -€354,306 | -28.9% |
| Financial debts | 170/4 | €1,225,140 | €870,833 | -€354,306 | -28.9% |
| Amounts payable within one year | 42/48 | €381,203 | €342,741 | -€38,462 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €105,833 | €67,500 | -€38,333 | -36.2% |
| Trade debts | 44 | €98,419 | €116,098 | +€17,679 | +18.0% |
| Suppliers | 440/4 | €98,419 | €116,098 | +€17,679 | +18.0% |
| Advances received on contracts in progress | 46 | - | €41,607 | +€41,607 | |
| Taxes, remuneration and social security | 45 | €13,772 | €81,418 | +€67,647 | +491% |
| Taxes | 450/3 | €7,353 | €49,552 | +€42,199 | +574% |
| Remuneration and social security | 454/9 | €6,419 | €31,866 | +€25,448 | +396% |
| Other amounts payable | 47/48 | €163,179 | €36,119 | -€127,060 | -77.9% |
| Remuneration, social security and pensions | 62 | €321,757 | €326,381 | +€4,624 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271,114 | €270,088 | -€1,025 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,546 | - | -€11,546 | |
| Other operating charges | 640/8 | €13,016 | €42,673 | +€29,657 | +228% |
| Gross operating margin | 9900 | €670,691 | €992,846 | +€322,155 | +48.0% |
| Operating profit (loss) | 9901 | €53,258 | €353,704 | +€300,446 | +564% |
| Financial income | 75/76B | €1,569 | €1,434 | -€134 | -8.6% |
| Recurring financial income | 75 | €1,569 | €1,434 | -€134 | -8.6% |
| Financial charges | 65/66B | €40,971 | €63,872 | +€22,902 | +55.9% |
| Recurring financial charges | 65 | €40,971 | €63,872 | +€22,902 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €13,856 | €291,266 | +€277,410 | +2,002% |
| Income taxes | 67/77 | €6,261 | €73,037 | +€66,777 | +1,067% |
| Profit (loss) for the period | 9904 | €7,595 | €218,229 | +€210,634 | +2,773% |
| Profit (loss) for the period to be appropriated | 9905 | €7,595 | €218,229 | +€210,634 | +2,773% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.