VANHOVE: 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.
VANHOVE
Largest movements
- Cash +€186,477
up €186,477 (+177%), from €105,335 to €291,812
mainly Current investments (+€100,000) and Depreciation (+€64,157)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Tangible fixed assets -€64,157
down €64,157 (-9.3%), from €688,493 to €624,337
of which Furniture and vehicles: -€33,470
- Reserves +€62,382
up €62,382 (+26.9%), from €231,578 to €293,960
of which Distributable reserves: +€62,382
- Debts after one year -€33,545
down €33,545 (-7.4%), from €456,340 to €422,794
- Tax, wage and social debts -€13,323
down €13,323 (-33.6%), from €39,681 to €26,358
of which Remuneration and social security: -€16,225
- Trade debts +€11,673
up €11,673 (+390%), from €2,995 to €14,668
- Staff costs -€37,305
down €37,305 (-19.6%), from €190,261 to €152,956
- Gross operating margin +€19,783
up €19,783 (+6.2%), from €318,189 to €337,972
- Taxes +€18,522
up €18,522 (+193%), from €9,618 to €28,140
- Depreciation -€5,994
down €5,994 (-8.5%), from €70,150 to €64,157
- Financial charges +€4,573
up €4,573 (+19.3%), from €23,646 to €28,219
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 | €949,964 | €970,715 | +€20,751 | +2.2% |
| Fixed assets | 21/28 | €688,493 | €624,337 | -€64,157 | -9.3% |
| Tangible fixed assets | 22/27 | €688,493 | €624,337 | -€64,157 | -9.3% |
| Land and buildings | 22 | €563,137 | €533,120 | -€30,017 | -5.3% |
| Plant, machinery and equipment | 23 | €2,641 | €1,973 | -€669 | -25.3% |
| Furniture and vehicles | 24 | €122,714 | €89,244 | -€33,470 | -27.3% |
| Current assets | 29/58 | €261,471 | €346,379 | +€84,908 | +32.5% |
| Amounts receivable within one year | 40/41 | €43,902 | €38,938 | -€4,963 | -11.3% |
| Trade receivables | 40 | €36,547 | €38,938 | +€2,392 | +6.5% |
| Other amounts receivable | 41 | €7,355 | €0 | -€7,355 | -100% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €105,335 | €291,812 | +€186,477 | +177% |
| Deferred charges and accrued income | 490/1 | €12,234 | €15,628 | +€3,394 | +27.7% |
| Total equity and liabilities | 10/49 | €949,964 | €970,715 | +€20,751 | +2.2% |
| Equity | 10/15 | €249,843 | €312,225 | +€62,382 | +25.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €231,578 | €293,960 | +€62,382 | +26.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €664 | €664 | = | 0.0% |
| Distributable reserves | 133 | €230,913 | €293,295 | +€62,382 | +27.0% |
| Profit (loss) carried forward | 14 | €5,865 | €5,865 | = | 0.0% |
| Amounts payable | 17/49 | €700,121 | €658,490 | -€41,631 | -5.9% |
| Amounts payable after more than one year | 17 | €456,340 | €422,794 | -€33,545 | -7.4% |
| Financial debts | 170/4 | €456,340 | €422,794 | -€33,545 | -7.4% |
| Amounts payable within one year | 42/48 | €236,628 | €227,718 | -€8,910 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €193,952 | €185,746 | -€8,206 | -4.2% |
| Trade debts | 44 | €2,995 | €14,668 | +€11,673 | +390% |
| Suppliers | 440/4 | €2,995 | €14,668 | +€11,673 | +390% |
| Taxes, remuneration and social security | 45 | €39,681 | €26,358 | -€13,323 | -33.6% |
| Taxes | 450/3 | €9,672 | €12,574 | +€2,902 | +30.0% |
| Remuneration and social security | 454/9 | €30,009 | €13,784 | -€16,225 | -54.1% |
| Other amounts payable | 47/48 | €0 | €946 | +€946 | |
| Accrued charges and deferred income | 492/3 | €7,153 | €7,978 | +€824 | +11.5% |
| Non-recurring operating income | 76A | €36,500 | €0 | -€36,500 | -100% |
| Remuneration, social security and pensions | 62 | €190,261 | €152,956 | -€37,305 | -19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,150 | €64,157 | -€5,994 | -8.5% |
| Other operating charges | 640/8 | €4,725 | €5,142 | +€417 | +8.8% |
| Gross operating margin | 9900 | €318,189 | €337,972 | +€19,783 | +6.2% |
| Operating profit (loss) | 9901 | €53,053 | €115,718 | +€62,666 | +118% |
| Financial income | 75/76B | €4,046 | €3,024 | -€1,022 | -25.3% |
| Recurring financial income | 75 | €4,046 | €3,024 | -€1,022 | -25.3% |
| Financial charges | 65/66B | €23,646 | €28,219 | +€4,573 | +19.3% |
| Recurring financial charges | 65 | €23,646 | €28,219 | +€4,573 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €33,452 | €90,523 | +€57,071 | +171% |
| Income taxes | 67/77 | €9,618 | €28,140 | +€18,522 | +193% |
| Profit (loss) for the period | 9904 | €23,834 | €62,382 | +€38,548 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €23,834 | €62,382 | +€38,548 | +162% |
Source: filed annual accounts (NBB), financial years ended 29 June 2024 and 29 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.