VANHOUTTE PROJECT ENGINEERING: 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 PROJECT ENGINEERING
Largest movements
- Cash -€135,718
down €135,718 (-27.4%), from €494,992 to €359,273
mainly Investment in fixed assets (net) (-€194,734) and Contributions, distributions and other (-€115,874)
- Tangible fixed assets +€135,400
up €135,400 (+50.0%), from €270,836 to €406,236
of which Leasing and similar rights: +€131,937
- Receivables within one year +€39,138
up €39,138 (+6.4%), from €612,397 to €651,534
of which Other amounts receivable: +€78,102
- Debts after one year +€82,353
up €82,353 (+86.7%), from €95,024 to €177,377
- Reserves -€75,877
down €75,877 (-7.7%), from €980,326 to €904,449
of which Tax-exempt reserves: -€42,044
- Tax, wage and social debts +€18,519
up €18,519 (+12.3%), from €150,132 to €168,651
of which Remuneration and social security: +€20,219
- Current portion of long-term debt +€16,168
up €16,168 (+138.3%), from €11,689 to €27,857
- Staff costs +€279,042
up €279,042 (+40.1%), from €695,326 to €974,369
- Taxes -€94,464
down €94,464 (-79.9%), from €118,180 to €23,716
- Gross operating margin -€93,186
down €93,186 (-7.8%), from €1.2m to €1.1m
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 | €1,416,858 | €1,465,675 | +€48,817 | +3.4% |
| Fixed assets | 21/28 | €270,886 | €406,286 | +€135,400 | +50.0% |
| Tangible fixed assets | 22/27 | €270,836 | €406,236 | +€135,400 | +50.0% |
| Land and buildings | 22 | €199,638 | €182,072 | -€17,566 | -8.8% |
| Plant, machinery and equipment | 23 | €4,407 | €2,036 | -€2,371 | -53.8% |
| Furniture and vehicles | 24 | €59,356 | €58,117 | -€1,239 | -2.1% |
| Leasing and similar rights | 25 | €5,324 | €137,261 | +€131,937 | +2478.4% |
| Other tangible fixed assets | 26 | €2,112 | €26,751 | +€24,639 | +1166.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,145,972 | €1,059,389 | -€86,583 | -7.6% |
| Stocks and contracts in progress | 3 | €14,806 | €23,687 | +€8,881 | +60.0% |
| Stocks | 30/36 | €14,806 | €23,687 | +€8,881 | +60.0% |
| Amounts receivable within one year | 40/41 | €612,397 | €651,534 | +€39,138 | +6.4% |
| Trade receivables | 40 | €577,622 | €538,658 | -€38,964 | -6.7% |
| Other amounts receivable | 41 | €34,775 | €112,876 | +€78,102 | +224.6% |
| Cash at bank and in hand | 54/58 | €494,992 | €359,273 | -€135,718 | -27.4% |
| Deferred charges and accrued income | 490/1 | €23,778 | €24,895 | +€1,116 | +4.7% |
| Total equity and liabilities | 10/49 | €1,416,858 | €1,465,675 | +€48,817 | +3.4% |
| Equity | 10/15 | €998,926 | €923,049 | -€75,877 | -7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €980,326 | €904,449 | -€75,877 | -7.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €156,773 | €114,730 | -€42,044 | -26.8% |
| Distributable reserves | 133 | €823,553 | €789,720 | -€33,834 | -4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €417,932 | €542,626 | +€124,694 | +29.8% |
| Amounts payable after more than one year | 17 | €95,024 | €177,377 | +€82,353 | +86.7% |
| Financial debts | 170/4 | €95,024 | €177,377 | +€82,353 | +86.7% |
| Amounts payable within one year | 42/48 | €322,354 | €364,484 | +€42,130 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €11,689 | €27,857 | +€16,168 | +138.3% |
| Trade debts | 44 | €153,265 | €157,078 | +€3,813 | +2.5% |
| Suppliers | 440/4 | €153,265 | €157,078 | +€3,813 | +2.5% |
| Taxes, remuneration and social security | 45 | €150,132 | €168,651 | +€18,519 | +12.3% |
| Taxes | 450/3 | €37,827 | €36,127 | -€1,700 | -4.5% |
| Remuneration and social security | 454/9 | €112,304 | €132,523 | +€20,219 | +18.0% |
| Other amounts payable | 47/48 | €7,268 | €10,899 | +€3,631 | +50.0% |
| Accrued charges and deferred income | 492/3 | €553 | €765 | +€211 | +38.2% |
| Non-recurring operating income | 76A | €7,160 | €22,271 | +€15,110 | +211.0% |
| Remuneration, social security and pensions | 62 | €695,326 | €974,369 | +€279,042 | +40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,499 | €59,333 | +€9,835 | +19.9% |
| Other operating charges | 640/8 | €4,555 | €5,302 | +€747 | +16.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,198,498 | €1,105,312 | -€93,186 | -7.8% |
| Operating profit (loss) | 9901 | €449,117 | €66,308 | -€382,809 | -85.2% |
| Financial income | 75/76B | €3,229 | €817 | -€2,412 | -74.7% |
| Recurring financial income | 75 | €3,229 | €817 | -€2,412 | -74.7% |
| Financial charges | 65/66B | €2,540 | €3,413 | +€873 | +34.4% |
| Recurring financial charges | 65 | €2,540 | €3,413 | +€873 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €449,807 | €63,712 | -€386,095 | -85.8% |
| Income taxes | 67/77 | €118,180 | €23,716 | -€94,464 | -79.9% |
| Profit (loss) for the period | 9904 | €331,628 | €39,996 | -€291,631 | -87.9% |
| Transfer from tax-exempt reserves | 789 | €3,207 | €42,044 | +€38,837 | +1211.1% |
| Profit (loss) for the period to be appropriated | 9905 | €334,834 | €82,040 | -€252,794 | -75.5% |
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 11 October 2026 via checked.be.