VANHOUTTEGHEM: 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.
VANHOUTTEGHEM
Largest movements
- Stocks and contracts +€234,887
up €234,887 (+7.4%), from €3.2m to €3.4m
- Tangible fixed assets -€166,783
down €166,783 (-11.3%), from €1.5m to €1.3m
of which Other tangible fixed assets: -€157,748
- Cash -€99,617
down €99,617 (-45.3%), from €219,881 to €120,264
mainly Trade debts (-€258,675) and Stocks and contracts (-€234,887)
- Receivables within one year -€97,649
down €97,649 (-62.6%), from €155,957 to €58,307
of which Other amounts receivable: -€76,097
- Reserves +€314,222
up €314,222 (+36.0%), from €871,863 to €1.2m
- Trade debts -€258,675
down €258,675 (-33.2%), from €779,092 to €520,416
- Debts after one year -€138,232
down €138,232 (-7.2%), from €1.9m to €1.8m
of which Financial debts: -€138,232
- Tax, wage and social debts -€55,511
down €55,511 (-39.4%), from €140,776 to €85,265
of which Taxes: -€34,876
- Gross operating margin +€309,629
up €309,629 (+35.7%), from €868,472 to €1.2m
- Taxes +€76,421
up €76,421 (+266%), from €28,677 to €105,098
- Depreciation +€58,523
up €58,523 (+40.8%), from €143,263 to €201,786
- Financial charges +€37,828
up €37,828 (+38.6%), from €98,096 to €135,924
- Other operating charges -€34,505
down €34,505 (-89.0%), from €38,788 to €4,282
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 | €5,083,951 | €4,956,645 | -€127,307 | -2.5% |
| Fixed assets | 21/28 | €1,489,256 | €1,322,415 | -€166,842 | -11.2% |
| Intangible fixed assets | 21 | €236 | €177 | -€59 | -25.0% |
| Tangible fixed assets | 22/27 | €1,470,072 | €1,303,289 | -€166,783 | -11.3% |
| Land and buildings | 22 | €11,164 | €8,689 | -€2,475 | -22.2% |
| Plant, machinery and equipment | 23 | €23,492 | €21,011 | -€2,480 | -10.6% |
| Furniture and vehicles | 24 | €22,941 | €18,861 | -€4,080 | -17.8% |
| Other tangible fixed assets | 26 | €1,412,475 | €1,254,727 | -€157,748 | -11.2% |
| Financial fixed assets | 28 | €18,949 | €18,949 | = | 0.0% |
| Current assets | 29/58 | €3,594,695 | €3,634,230 | +€39,535 | +1.1% |
| Stocks and contracts in progress | 3 | €3,186,402 | €3,421,289 | +€234,887 | +7.4% |
| Stocks | 30/36 | €3,186,402 | €3,421,289 | +€234,887 | +7.4% |
| Amounts receivable within one year | 40/41 | €155,957 | €58,307 | -€97,649 | -62.6% |
| Trade receivables | 40 | €34,860 | €13,307 | -€21,553 | -61.8% |
| Other amounts receivable | 41 | €121,097 | €45,000 | -€76,097 | -62.8% |
| Cash at bank and in hand | 54/58 | €219,881 | €120,264 | -€99,617 | -45.3% |
| Deferred charges and accrued income | 490/1 | €32,455 | €34,370 | +€1,915 | +5.9% |
| Total equity and liabilities | 10/49 | €5,083,951 | €4,956,645 | -€127,307 | -2.5% |
| Equity | 10/15 | €1,259,863 | €1,574,084 | +€314,222 | +24.9% |
| Contributions | 10/11 | €388,000 | €388,000 | = | 0.0% |
| Reserves | 13 | €871,863 | €1,186,084 | +€314,222 | +36.0% |
| Distributable reserves | 133 | €871,863 | €1,186,084 | +€314,222 | +36.0% |
| Amounts payable | 17/49 | €3,824,089 | €3,382,561 | -€441,528 | -11.5% |
| Amounts payable after more than one year | 17 | €1,930,930 | €1,792,699 | -€138,232 | -7.2% |
| Financial debts | 170/4 | €1,435,894 | €1,297,662 | -€138,232 | -9.6% |
| Other amounts payable | 178/9 | €495,037 | €495,037 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,839,584 | €1,537,925 | -€301,659 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €173,252 | €184,688 | +€11,436 | +6.6% |
| Financial debts | 43 | €469,106 | €471,114 | +€2,007 | +0.4% |
| Credit institutions | 430/8 | €469,106 | €471,114 | +€2,007 | +0.4% |
| Trade debts | 44 | €779,092 | €520,416 | -€258,675 | -33.2% |
| Suppliers | 440/4 | €779,092 | €520,416 | -€258,675 | -33.2% |
| Taxes, remuneration and social security | 45 | €140,776 | €85,265 | -€55,511 | -39.4% |
| Taxes | 450/3 | €60,095 | €25,220 | -€34,876 | -58.0% |
| Remuneration and social security | 454/9 | €80,681 | €60,046 | -€20,635 | -25.6% |
| Other amounts payable | 47/48 | €277,359 | €276,442 | -€917 | -0.3% |
| Accrued charges and deferred income | 492/3 | €53,574 | €51,937 | -€1,637 | -3.1% |
| Remuneration, social security and pensions | 62 | €421,646 | €417,627 | -€4,018 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,263 | €201,786 | +€58,523 | +40.8% |
| Other operating charges | 640/8 | €38,788 | €4,282 | -€34,505 | -89.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €868,472 | €1,178,101 | +€309,629 | +35.7% |
| Operating profit (loss) | 9901 | €264,775 | €554,405 | +€289,630 | +109% |
| Financial income | 75/76B | €1,030 | €838 | -€192 | -18.6% |
| Recurring financial income | 75 | €1,030 | €838 | -€192 | -18.6% |
| Financial charges | 65/66B | €98,096 | €135,924 | +€37,828 | +38.6% |
| Recurring financial charges | 65 | €98,096 | €135,924 | +€37,828 | +38.6% |
| Profit (loss) for the period before taxes | 9903 | €167,709 | €419,320 | +€251,610 | +150% |
| Income taxes | 67/77 | €28,677 | €105,098 | +€76,421 | +266% |
| Profit (loss) for the period | 9904 | €139,032 | €314,222 | +€175,190 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €139,032 | €314,222 | +€175,190 | +126% |
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 14 October 2026 via checked.be.