VANHOVE SANDER: 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 SANDER
Largest movements
- Tangible fixed assets -€10,138
down €10,138 (-24.2%), from €41,939 to €31,801
- Receivables within one year -€1,354
down €1,354 (-34.5%), from €3,930 to €2,576
of which Trade receivables: -€1,278
- Cash -€978
down €978 (-13.7%), from €7,164 to €6,186
mainly Debts after one year (-€6,947) and Other debts (-€6,869)
- Deferred charges and accrued income +€915
up €915 (+210%), from €435 to €1,350
- Stocks and contracts +€625
new in 2025: €625
- Debts after one year -€6,947
down €6,947 (-30.3%), from €22,923 to €15,976
- Other debts -€6,869
down €6,869 (-68.6%), from €10,011 to €3,142
- Profit (loss) carried forward +€4,154
up €4,154 (+377%), from €1,102 to €5,256
- Tax, wage and social debts -€1,143
down €1,143 (-52.1%), from €2,193 to €1,050
- Gross operating margin -€4,090
down €4,090 (-19.4%), from €21,068 to €16,978
- Depreciation +€1,389
up €1,389 (+15.9%), from €8,749 to €10,138
- Taxes -€1,100
down €1,100 (-51.1%), from €2,150 to €1,050
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 | €53,468 | €42,539 | -€10,930 | -20.4% |
| Fixed assets | 21/28 | €41,939 | €31,801 | -€10,138 | -24.2% |
| Tangible fixed assets | 22/27 | €41,939 | €31,801 | -€10,138 | -24.2% |
| Furniture and vehicles | 24 | €41,939 | €31,801 | -€10,138 | -24.2% |
| Current assets | 29/58 | €11,530 | €10,737 | -€792 | -6.9% |
| Stocks and contracts in progress | 3 | - | €625 | +€625 | |
| Stocks | 30/36 | - | €625 | +€625 | |
| Amounts receivable within one year | 40/41 | €3,930 | €2,576 | -€1,354 | -34.5% |
| Trade receivables | 40 | €3,386 | €2,109 | -€1,278 | -37.7% |
| Other amounts receivable | 41 | €544 | €467 | -€77 | -14.1% |
| Cash at bank and in hand | 54/58 | €7,164 | €6,186 | -€978 | -13.7% |
| Deferred charges and accrued income | 490/1 | €435 | €1,350 | +€915 | +210% |
| Total equity and liabilities | 10/49 | €53,468 | €42,539 | -€10,930 | -20.4% |
| Equity | 10/15 | €11,102 | €15,256 | +€4,154 | +37.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,102 | €5,256 | +€4,154 | +377% |
| Amounts payable | 17/49 | €42,366 | €27,283 | -€15,084 | -35.6% |
| Amounts payable after more than one year | 17 | €22,923 | €15,976 | -€6,947 | -30.3% |
| Financial debts | 170/4 | €22,923 | €15,976 | -€6,947 | -30.3% |
| Amounts payable within one year | 42/48 | €19,444 | €11,306 | -€8,137 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | €6,691 | €6,947 | +€256 | +3.8% |
| Trade debts | 44 | €549 | €167 | -€381 | -69.5% |
| Suppliers | 440/4 | €549 | €167 | -€381 | -69.5% |
| Taxes, remuneration and social security | 45 | €2,193 | €1,050 | -€1,143 | -52.1% |
| Taxes | 450/3 | €2,193 | €1,050 | -€1,143 | -52.1% |
| Other amounts payable | 47/48 | €10,011 | €3,142 | -€6,869 | -68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,749 | €10,138 | +€1,389 | +15.9% |
| Other operating charges | 640/8 | €421 | €314 | -€107 | -25.5% |
| Gross operating margin | 9900 | €21,068 | €16,978 | -€4,090 | -19.4% |
| Operating profit (loss) | 9901 | €11,898 | €6,527 | -€5,371 | -45.1% |
| Financial income | 75/76B | - | €24 | +€24 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Financial charges | 65/66B | €1,146 | €1,346 | +€200 | +17.5% |
| Recurring financial charges | 65 | €1,146 | €1,346 | +€200 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €10,752 | €5,204 | -€5,548 | -51.6% |
| Income taxes | 67/77 | €2,150 | €1,050 | -€1,100 | -51.1% |
| Profit (loss) for the period | 9904 | €8,602 | €4,154 | -€4,448 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,602 | €4,154 | -€4,448 | -51.7% |
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 20 October 2026 via checked.be.