VANHOUT: 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
VANHOUT
NACE 41.001, General construction of residential buildings
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €1.1m+€313,098
Equity
€23.3m
2024 · €21.9m+€1.4m
Cash
€37.1m
2024 · €8.7m+€28.4m
Balance sheet total
€113.2m
2024 · €88.2m+€25.0m
Largest movements
Assets
- Cash +€28.4m
up €28.4m (+325.1%), from €8.7m to €37.1m
mainly Trade debts (+€16.7m) and Provisions (+€3.5m)
- Receivables within one year -€2.6m
down €2.6m (-5.7%), from €45.2m to €42.6m
of which Trade receivables: -€3.3m
Equity and liabilities
- Trade debts +€16.7m
up €16.7m (+36.3%), from €45.9m to €62.5m
- Provisions +€3.5m
up €3.5m (+144.8%), from €2.5m to €6.0m
- Other debts +€2.9m
up €2.9m (+30.2%), from €9.5m to €12.3m
- Tax, wage and social debts +€2.1m
up €2.1m (+203.3%), from €1.0m to €3.2m
of which Taxes: +€1.2m
- Profit (loss) carried forward +€1.4m
up €1.4m (+12.1%), from €11.3m to €12.7m
Income statement
- Goods and materials +€23.4m
up €23.4m (+38.6%), from €60.7m to €84.1m
of which Purchases: +€23.3m
- Turnover +€18.2m
up €18.2m (+17.0%), from €106.8m to €125.0m
- Provisions +€3.6m
up €3.6m, from -€14,422 to €3.5m
- Services and other goods +€3.0m
up €3.0m (+18.1%), from €16.7m to €19.7m
- Financial charges +€2.7m
up €2.7m (+257.5%), from €1.0m to €3.7m
of which Non-recurring financial charges: +€2.9m
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
€1.1m
Turnover
+€18.2m
Other operating income
+€620,256
Goods and materials
-€23.4m
Services and other goods
-€3.0m
Staff costs
-€2.1m
Depreciation
-€636
Write-downs
+€1.3m
Provisions
-€3.6m
Other operating charges
+€126,052
Other operating items
+€14.3m
Financial income
+€1.5m
Financial charges
-€2.7m
Taxes
-€1.0m
Result 2025
€1.4m
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.
From operations
+€28.7m
Investment
-€222,804
Financing
-€150,242
Cash 2024
€8.7m
From operations (derived)
+€28.7m
Net result for the year
+€1.4m
Depreciation
+€686,613
Stocks and contracts
+€265,356
Receivables within one year
+€2.6m
Deferred charges and accrued income
+€104,918
Provisions
+€3.5m
Trade debts
+€16.7m
Tax, wage and social debts
+€2.1m
Advances received
-€771,942
Other debts
+€2.9m
Accrued charges and deferred income
-€703,317
Investment (derived)
-€222,804
Investment in fixed assets (net)
+€87,196
Current investments
-€310,000
Financing
-€150,242
Debts after one year
-€152,126
Current portion of long-term debt
+€1,763
Short-term financial debts
+€121
Cash 2025
€37.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €88,171,026 | €113,159,253 | +€25.0m | +28.3% |
| Fixed assets | 21/28 | €25,100,475 | €24,326,665 | -€773,809 | -3.1% |
| Intangible fixed assets | 21 | €1,074,385 | €1,127,046 | +€52,661 | +4.9% |
| Tangible fixed assets | 22/27 | €4,227,515 | €3,834,074 | -€393,440 | -9.3% |
| Land and buildings | 22 | €3,112,583 | €2,851,391 | -€261,192 | -8.4% |
| Plant, machinery and equipment | 23 | €676,400 | €662,979 | -€13,421 | -2.0% |
| Furniture and vehicles | 24 | €438,532 | €319,705 | -€118,827 | -27.1% |
| Financial fixed assets | 28 | €19,798,575 | €19,365,545 | -€433,030 | -2.2% |
| Affiliated companies | 280/1 | €16,436,895 | €17,142,932 | +€706,037 | +4.3% |
| Participating interests | 280 | €12,506,895 | €13,432,932 | +€926,037 | +7.4% |
| Amounts receivable | 281 | €3,930,000 | €3,710,000 | -€220,000 | -5.6% |
| Companies linked by participating interests | 282/3 | €3,222,227 | €2,083,827 | -€1.1m | -35.3% |
| Participating interests | 282 | €3,222,227 | €2,083,827 | -€1.1m | -35.3% |
| Other financial fixed assets | 284/8 | €139,454 | €138,787 | -€667 | -0.5% |
| Shares | 284 | €79,274 | €79,274 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €60,181 | €59,514 | -€667 | -1.1% |
| Current assets | 29/58 | €63,070,551 | €88,832,588 | +€25.8m | +40.8% |
| Stocks and contracts in progress | 3 | €7,579,040 | €7,313,684 | -€265,356 | -3.5% |
| Stocks | 30/36 | €337,657 | €315,334 | -€22,322 | -6.6% |
| Raw materials and consumables | 30/31 | €337,657 | €315,334 | -€22,322 | -6.6% |
| Contracts in progress | 37 | €7,241,384 | €6,998,350 | -€243,034 | -3.4% |
| Amounts receivable within one year | 40/41 | €45,184,735 | €42,631,527 | -€2.6m | -5.7% |
| Trade receivables | 40 | €24,232,010 | €20,958,063 | -€3.3m | -13.5% |
| Other amounts receivable | 41 | €20,952,726 | €21,673,464 | +€720,738 | +3.4% |
| Current investments | 50/53 | €750,000 | €1,060,000 | +€310,000 | +41.3% |
| Other investments | 51/53 | €750,000 | €1,060,000 | +€310,000 | +41.3% |
| Cash at bank and in hand | 54/58 | €8,729,001 | €37,104,522 | +€28.4m | +325.1% |
| Deferred charges and accrued income | 490/1 | €827,774 | €722,856 | -€104,918 | -12.7% |
| Total equity and liabilities | 10/49 | €88,171,026 | €113,159,253 | +€25.0m | +28.3% |
| Equity | 10/15 | €21,881,465 | €23,298,732 | +€1.4m | +6.5% |
| Contributions | 10/11 | €9,000,000 | €9,000,000 | = | 0.0% |
| Capital | 10 | €9,000,000 | €9,000,000 | = | 0.0% |
| Issued capital | 100 | €9,000,000 | €9,000,000 | = | 0.0% |
| Reserves | 13 | €1,537,195 | €1,585,030 | +€47,835 | +3.1% |
| Non-distributable reserves | 130/1 | €852,165 | €900,000 | +€47,835 | +5.6% |
| Legal reserve | 130 | €852,165 | €900,000 | +€47,835 | +5.6% |
| Tax-exempt reserves | 132 | €183,410 | €183,410 | = | 0.0% |
| Distributable reserves | 133 | €501,620 | €501,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,344,270 | €12,713,701 | +€1.4m | +12.1% |
| Provisions and deferred taxes | 16 | €2,450,347 | €5,998,456 | +€3.5m | +144.8% |
| Provisions for liabilities and charges | 160/5 | €2,450,347 | €5,998,456 | +€3.5m | +144.8% |
| Major repairs and maintenance | 162 | €300,686 | €214,540 | -€86,146 | -28.6% |
| Other liabilities and charges | 164/5 | €2,149,661 | €5,783,917 | +€3.6m | +169.1% |
| Amounts payable | 17/49 | €63,839,214 | €83,862,065 | +€20.0m | +31.4% |
| Amounts payable after more than one year | 17 | €658,948 | €506,822 | -€152,126 | -23.1% |
| Financial debts | 170/4 | €658,948 | €506,822 | -€152,126 | -23.1% |
| Credit institutions | 173 | €658,948 | €506,822 | -€152,126 | -23.1% |
| Amounts payable within one year | 42/48 | €61,798,606 | €82,676,900 | +€20.9m | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €150,363 | €152,126 | +€1,763 | +1.2% |
| Financial debts | 43 | - | €121 | +€121 | |
| Credit institutions | 430/8 | - | €121 | +€121 | |
| Trade debts | 44 | €45,870,568 | €62,533,379 | +€16.7m | +36.3% |
| Suppliers | 440/4 | €45,870,568 | €62,533,379 | +€16.7m | +36.3% |
| Advances received on contracts in progress | 46 | €5,265,466 | €4,493,524 | -€771,942 | -14.7% |
| Taxes, remuneration and social security | 45 | €1,043,562 | €3,165,165 | +€2.1m | +203.3% |
| Taxes | 450/3 | €4,299 | €1,219,307 | +€1.2m | +28262.8% |
| Remuneration and social security | 454/9 | €1,039,263 | €1,945,858 | +€906,595 | +87.2% |
| Other amounts payable | 47/48 | €9,468,645 | €12,332,585 | +€2.9m | +30.2% |
| Accrued charges and deferred income | 492/3 | €1,381,660 | €678,343 | -€703,317 | -50.9% |
| Operating income | 70/76A | €93,577,114 | €126,701,321 | +€33.1m | +35.4% |
| Turnover | 70 | €106,791,632 | €124,977,724 | +€18.2m | +17.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€14,942,339 | -€253,825 | +€14.7m | +98.3% |
| Own construction capitalised | 72 | €703,281 | €318,458 | -€384,823 | -54.7% |
| Other operating income | 74 | €1,024,540 | €1,644,796 | +€620,256 | +60.5% |
| Non-recurring operating income | 76A | - | €14,167 | +€14,167 | |
| Operating charges | 60/66A | €92,701,807 | €123,338,207 | +€30.6m | +33.0% |
| Goods for resale, raw materials and consumables | 60 | €60,706,548 | €84,113,994 | +€23.4m | +38.6% |
| Purchases | 600/8 | €60,817,470 | €84,091,672 | +€23.3m | +38.3% |
| Change in stocks: decrease (increase) | 609 | -€110,922 | €22,322 | +€133,244 | |
| Services and other goods | 61 | €16,676,104 | €19,698,575 | +€3.0m | +18.1% |
| Remuneration, social security and pensions | 62 | €11,227,327 | €13,292,588 | +€2.1m | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €685,977 | €686,613 | +€636 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,236,952 | €1,940,266 | -€1.3m | -40.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€14,422 | €3,548,109 | +€3.6m | |
| Other operating charges | 640/8 | €183,321 | €57,269 | -€126,052 | -68.8% |
| Non-recurring operating charges | 66A | - | €792 | +€792 | |
| Operating profit (loss) | 9901 | €875,307 | €3,363,114 | +€2.5m | +284.2% |
| Financial income | 75/76B | €1,529,862 | €3,044,152 | +€1.5m | +99.0% |
| Recurring financial income | 75 | €1,477,455 | €2,118,115 | +€640,660 | +43.4% |
| Income from financial fixed assets | 750 | €459,340 | €591,100 | +€131,760 | +28.7% |
| Income from current assets | 751 | €1,006,475 | €1,431,189 | +€424,714 | +42.2% |
| Other financial income | 752/9 | €11,640 | €95,826 | +€84,186 | +723.3% |
| Non-recurring financial income | 76B | €52,407 | €926,037 | +€873,630 | +1667.0% |
| Financial charges | 65/66B | €1,039,252 | €3,715,546 | +€2.7m | +257.5% |
| Recurring financial charges | 65 | €1,037,781 | €787,792 | -€249,988 | -24.1% |
| Debt charges | 650 | €924,308 | €651,750 | -€272,559 | -29.5% |
| Other financial charges | 652/9 | €113,472 | €136,043 | +€22,571 | +19.9% |
| Non-recurring financial charges | 66B | €1,471 | €2,927,754 | +€2.9m | +198899.1% |
| Profit (loss) for the period before taxes | 9903 | €1,365,918 | €2,691,720 | +€1.3m | +97.1% |
| Income taxes | 67/77 | €261,749 | €1,274,453 | +€1.0m | +386.9% |
| Taxes | 670/3 | €261,749 | €1,275,417 | +€1.0m | +387.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €964 | +€964 | |
| Profit (loss) for the period | 9904 | €1,104,169 | €1,417,266 | +€313,098 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,104,169 | €1,417,266 | +€313,098 | +28.4% |
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 10 October 2026 via checked.be.