Vanhoucke Law: 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
Vanhoucke Law
NACE 69.101, Activities of lawyers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€757,187
2024 · €581,398+€175,789
Equity
€26,585
2024 · €24,398+€2,187
Cash
€757,883
2024 · €508,854+€249,030
Balance sheet total
€2.3m
2024 · €2.0m+€309,546
Largest movements
Assets
- Current investments +€250,000
up €250,000, from €0 to €250,000
- Cash +€249,030
up €249,030 (+48.9%), from €508,854 to €757,883
mainly Net result for the year (+€757,187) and Other debts (+€500,658)
- Intangible fixed assets -€200,000
down €200,000 (-16.7%), from €1.2m to €1.0m
Equity and liabilities
- Other debts +€500,658
up €500,658 (+79.5%), from €629,829 to €1.1m
- Debts after one year -€200,646
down €200,646 (-18.9%), from €1.1m to €860,728
Income statement
- Gross operating margin +€154,660
up €154,660 (+15.0%), from €1.0m to €1.2m
- Staff costs -€28,903
down €28,903 (-14.0%), from €207,181 to €178,279
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
€581,398
Gross operating margin
+€154,660
Staff costs
+€28,903
Depreciation
-€2,900
Other operating charges
-€5,537
Financial income
-€1,017
Financial charges
+€2,149
Taxes
-€469
Result 2025
€757,187
raises the resultlowers the result
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
-€270,287
Financing
-€953,404
Cash 2024
€508,854
From operations (derived)
+€1.5m
Net result for the year
+€757,187
Depreciation
+€202,900
Receivables within one year
+€7,695
Deferred charges and accrued income
-€825
Trade debts
+€20,570
Tax, wage and social debts
-€15,466
Other debts
+€500,658
Investment (derived)
-€270,287
Investment in fixed assets (net)
-€20,287
Current investments
-€250,000
Financing
-€953,404
Debts after one year
-€200,646
Current portion of long-term debt
+€2,242
Contributions, distributions and other
-€755,000
Cash 2025
€757,883
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,014,835 | €2,324,381 | +€309,546 | +15.4% |
| Fixed assets | 21/28 | €1,200,480 | €1,017,867 | -€182,613 | -15.2% |
| Intangible fixed assets | 21 | €1,200,000 | €1,000,000 | -€200,000 | -16.7% |
| Tangible fixed assets | 22/27 | - | €17,387 | +€17,387 | |
| Furniture and vehicles | 24 | - | €17,387 | +€17,387 | |
| Financial fixed assets | 28 | €480 | €480 | = | 0.0% |
| Current assets | 29/58 | €814,355 | €1,306,514 | +€492,159 | +60.4% |
| Amounts receivable within one year | 40/41 | €295,584 | €287,889 | -€7,695 | -2.6% |
| Trade receivables | 40 | €295,584 | €287,889 | -€7,695 | -2.6% |
| Current investments | 50/53 | €0 | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €508,854 | €757,883 | +€249,030 | +48.9% |
| Deferred charges and accrued income | 490/1 | €9,917 | €10,742 | +€825 | +8.3% |
| Total equity and liabilities | 10/49 | €2,014,835 | €2,324,381 | +€309,546 | +15.4% |
| Equity | 10/15 | €24,398 | €26,585 | +€2,187 | +9.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,398 | €6,585 | +€2,187 | +49.7% |
| Amounts payable | 17/49 | €1,990,437 | €2,297,796 | +€307,359 | +15.4% |
| Amounts payable after more than one year | 17 | €1,061,374 | €860,728 | -€200,646 | -18.9% |
| Financial debts | 170/4 | €1,061,374 | €860,728 | -€200,646 | -18.9% |
| Amounts payable within one year | 42/48 | €929,063 | €1,437,069 | +€508,005 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €198,404 | €200,646 | +€2,242 | +1.1% |
| Trade debts | 44 | €60,179 | €80,749 | +€20,570 | +34.2% |
| Suppliers | 440/4 | €60,179 | €80,749 | +€20,570 | +34.2% |
| Taxes, remuneration and social security | 45 | €40,651 | €25,186 | -€15,466 | -38.0% |
| Taxes | 450/3 | €19,702 | €14,199 | -€5,503 | -27.9% |
| Remuneration and social security | 454/9 | €20,949 | €10,986 | -€9,963 | -47.6% |
| Other amounts payable | 47/48 | €629,829 | €1,130,488 | +€500,658 | +79.5% |
| Remuneration, social security and pensions | 62 | €207,181 | €178,279 | -€28,903 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,000 | €202,900 | +€2,900 | +1.4% |
| Other operating charges | 640/8 | €25,472 | €31,009 | +€5,537 | +21.7% |
| Gross operating margin | 9900 | €1,030,363 | €1,185,023 | +€154,660 | +15.0% |
| Operating profit (loss) | 9901 | €597,710 | €772,836 | +€175,126 | +29.3% |
| Financial income | 75/76B | €1,023 | €6 | -€1,017 | -99.4% |
| Recurring financial income | 75 | €1,023 | €0 | -€1,023 | -100% |
| Non-recurring financial income | 76B | - | €6 | +€6 | |
| Financial charges | 65/66B | €15,594 | €13,445 | -€2,149 | -13.8% |
| Recurring financial charges | 65 | €15,594 | €13,445 | -€2,149 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €583,139 | €759,397 | +€176,257 | +30.2% |
| Income taxes | 67/77 | €1,741 | €2,209 | +€469 | +26.9% |
| Profit (loss) for the period | 9904 | €581,398 | €757,187 | +€175,789 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €581,398 | €757,187 | +€175,789 | +30.2% |
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 28 October 2026 via checked.be.