Vanhove Kris: 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 Kris
Largest movements
- Current investments -€250,000
no longer reported in 2026 (was €250,000)
- Tangible fixed assets +€111,793
up €111,793 (+55.0%), from €203,106 to €314,899
of which Assets under construction and advance payments: +€131,781
- Cash +€38,440
up €38,440 (+15.2%), from €252,851 to €291,291
mainly Current investments (+€250,000) and Depreciation (+€51,112)
- Deferred charges and accrued income -€21,252
down €21,252 (-89.5%), from €23,739 to €2,487
- Receivables within one year +€19,200
up €19,200 (+24.4%), from €78,568 to €97,768
of which Other amounts receivable: +€40,141
- Reserves -€102,869
down €102,869 (-13.9%), from €742,210 to €639,341
of which Distributable reserves: -€99,863
- Other debts -€14,832
no longer reported in 2026 (was €14,832)
- Trade debts +€13,679
up €13,679 (+112%), from €12,232 to €25,912
- Gross operating margin -€64,031
down €64,031 (-72.9%), from €87,877 to €23,846
- Depreciation -€29,498
down €29,498 (-36.6%), from €80,611 to €51,112
- Other operating charges +€3,546
up €3,546 (+31.1%), from €11,402 to €14,948
- Financial income -€1,874
down €1,874 (-33.0%), from €5,672 to €3,798
- Taxes -€1,031
down €1,031 (-85.9%), from €1,201 to €170
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €904,664 | €803,602 | -€101,062 | -11.2% |
| Fixed assets | 21/28 | €207,987 | €319,511 | +€111,524 | +53.6% |
| Intangible fixed assets | 21 | €413 | €144 | -€269 | -65.2% |
| Tangible fixed assets | 22/27 | €203,106 | €314,899 | +€111,793 | +55.0% |
| Plant, machinery and equipment | 23 | €27,470 | €17,850 | -€9,620 | -35.0% |
| Furniture and vehicles | 24 | €68,391 | €65,124 | -€3,267 | -4.8% |
| Other tangible fixed assets | 26 | €107,244 | €100,143 | -€7,101 | -6.6% |
| Assets under construction and advance payments | 27 | - | €131,781 | +€131,781 | |
| Financial fixed assets | 28 | €4,468 | €4,468 | = | 0.0% |
| Current assets | 29/58 | €696,677 | €484,091 | -€212,585 | -30.5% |
| Stocks and contracts in progress | 3 | €91,518 | €92,546 | +€1,027 | +1.1% |
| Stocks | 30/36 | €91,518 | €92,546 | +€1,027 | +1.1% |
| Amounts receivable within one year | 40/41 | €78,568 | €97,768 | +€19,200 | +24.4% |
| Trade receivables | 40 | €68,550 | €47,609 | -€20,941 | -30.5% |
| Other amounts receivable | 41 | €10,018 | €50,159 | +€40,141 | +401% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €252,851 | €291,291 | +€38,440 | +15.2% |
| Deferred charges and accrued income | 490/1 | €23,739 | €2,487 | -€21,252 | -89.5% |
| Total equity and liabilities | 10/49 | €904,664 | €803,602 | -€101,062 | -11.2% |
| Equity | 10/15 | €867,210 | €764,341 | -€102,869 | -11.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €742,210 | €639,341 | -€102,869 | -13.9% |
| Tax-exempt reserves | 132 | €449,927 | €446,921 | -€3,006 | -0.7% |
| Distributable reserves | 133 | €292,283 | €192,420 | -€99,863 | -34.2% |
| Provisions and deferred taxes | 16 | €9,590 | €8,838 | -€752 | -7.8% |
| Deferred taxes | 168 | €9,590 | €8,838 | -€752 | -7.8% |
| Amounts payable | 17/49 | €27,864 | €30,423 | +€2,558 | +9.2% |
| Amounts payable within one year | 42/48 | €27,864 | €28,809 | +€945 | +3.4% |
| Trade debts | 44 | €12,232 | €25,912 | +€13,679 | +112% |
| Suppliers | 440/4 | €12,232 | €25,912 | +€13,679 | +112% |
| Taxes, remuneration and social security | 45 | €801 | €2,898 | +€2,097 | +262% |
| Taxes | 450/3 | €801 | €2,898 | +€2,097 | +262% |
| Other amounts payable | 47/48 | €14,832 | - | -€14,832 | |
| Accrued charges and deferred income | 492/3 | - | €1,613 | +€1,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,611 | €51,112 | -€29,498 | -36.6% |
| Other operating charges | 640/8 | €11,402 | €14,948 | +€3,546 | +31.1% |
| Non-recurring operating charges | 66A | - | €4,849 | +€4,849 | |
| Gross operating margin | 9900 | €87,877 | €23,846 | -€64,031 | -72.9% |
| Operating profit (loss) | 9901 | -€4,135 | -€47,064 | -€42,929 | -1,038% |
| Financial income | 75/76B | €5,672 | €3,798 | -€1,874 | -33.0% |
| Recurring financial income | 75 | €5,672 | €3,798 | -€1,874 | -33.0% |
| Financial charges | 65/66B | €1,242 | €1,225 | -€17 | -1.4% |
| Recurring financial charges | 65 | €1,242 | €1,225 | -€17 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €295 | -€44,491 | -€44,786 | |
| Transfer from deferred taxes | 780 | €752 | €752 | = | 0.0% |
| Income taxes | 67/77 | €1,201 | €170 | -€1,031 | -85.9% |
| Profit (loss) for the period | 9904 | -€155 | -€43,910 | -€43,755 | -28,265% |
| Transfer from tax-exempt reserves | 789 | €3,006 | €3,006 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,851 | -€40,904 | -€43,755 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.