VANHOUTTE MARINO: 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.
VANHOUTTE MARINO
Largest movements
- Cash +€80,866
up €80,866 (+26.0%), from €310,677 to €391,542
mainly Net result for the year (+€83,727) and Depreciation (+€14,106)
- Tangible fixed assets -€12,529
down €12,529 (-22.5%), from €55,774 to €43,245
of which Furniture and vehicles: -€11,539
- Reserves +€68,974
up €68,974 (+28.7%), from €240,171 to €309,145
- Other debts +€11,364
up €11,364 (+55.7%), from €20,394 to €31,758
- Debts after one year -€7,712
down €7,712 (-56.3%), from €13,694 to €5,982
- Gross operating margin +€2,688
up €2,688 (+1.9%), from €139,242 to €141,930
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 | €395,626 | €464,361 | +€68,735 | +17.4% |
| Fixed assets | 21/28 | €55,774 | €43,245 | -€12,529 | -22.5% |
| Tangible fixed assets | 22/27 | €55,774 | €43,245 | -€12,529 | -22.5% |
| Plant, machinery and equipment | 23 | €8,541 | €7,551 | -€990 | -11.6% |
| Furniture and vehicles | 24 | €47,233 | €35,694 | -€11,539 | -24.4% |
| Current assets | 29/58 | €339,852 | €421,116 | +€81,264 | +23.9% |
| Amounts receivable within one year | 40/41 | €26,844 | €27,104 | +€261 | +1.0% |
| Trade receivables | 40 | €26,844 | €27,104 | +€261 | +1.0% |
| Cash at bank and in hand | 54/58 | €310,677 | €391,542 | +€80,866 | +26.0% |
| Deferred charges and accrued income | 490/1 | €2,332 | €2,469 | +€138 | +5.9% |
| Total equity and liabilities | 10/49 | €395,626 | €464,361 | +€68,735 | +17.4% |
| Equity | 10/15 | €316,742 | €385,716 | +€68,974 | +21.8% |
| Contributions | 10/11 | €76,000 | €76,000 | = | 0.0% |
| Reserves | 13 | €240,171 | €309,145 | +€68,974 | +28.7% |
| Distributable reserves | 133 | €240,171 | €309,145 | +€68,974 | +28.7% |
| Profit (loss) carried forward | 14 | €571 | €571 | = | 0.0% |
| Amounts payable | 17/49 | €78,884 | €78,645 | -€240 | -0.3% |
| Amounts payable after more than one year | 17 | €13,694 | €5,982 | -€7,712 | -56.3% |
| Financial debts | 170/4 | €13,694 | €5,982 | -€7,712 | -56.3% |
| Amounts payable within one year | 42/48 | €64,443 | €71,430 | +€6,988 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €7,421 | €7,712 | +€291 | +3.9% |
| Financial debts | 43 | €6,763 | €6,250 | -€513 | -7.6% |
| Credit institutions | 430/8 | €6,763 | €6,250 | -€513 | -7.6% |
| Trade debts | 44 | €2,039 | €552 | -€1,487 | -72.9% |
| Suppliers | 440/4 | €2,039 | €552 | -€1,487 | -72.9% |
| Taxes, remuneration and social security | 45 | €27,825 | €25,158 | -€2,667 | -9.6% |
| Taxes | 450/3 | €27,825 | €25,158 | -€2,667 | -9.6% |
| Other amounts payable | 47/48 | €20,394 | €31,758 | +€11,364 | +55.7% |
| Accrued charges and deferred income | 492/3 | €748 | €1,232 | +€485 | +64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,198 | €14,106 | -€92 | -0.6% |
| Other operating charges | 640/8 | €2,215 | €2,731 | +€517 | +23.3% |
| Gross operating margin | 9900 | €139,242 | €141,930 | +€2,688 | +1.9% |
| Operating profit (loss) | 9901 | €122,829 | €125,092 | +€2,263 | +1.8% |
| Financial income | 75/76B | €2,418 | €2,655 | +€237 | +9.8% |
| Recurring financial income | 75 | €2,418 | €2,655 | +€237 | +9.8% |
| Financial charges | 65/66B | €3,170 | €3,015 | -€155 | -4.9% |
| Recurring financial charges | 65 | €3,170 | €3,015 | -€155 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €122,077 | €124,733 | +€2,656 | +2.2% |
| Income taxes | 67/77 | €40,184 | €41,006 | +€822 | +2.0% |
| Profit (loss) for the period | 9904 | €81,893 | €83,727 | +€1,834 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,893 | €83,727 | +€1,834 | +2.2% |
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 29 October 2026 via checked.be.