Vanhullebusch-Vereecke: what changed
Vanhullebusch-Vereecke
Largest movements
- Receivables within one year +€28,071
new in 2025: €28,071
of which Other amounts receivable: +€25,200
- Tangible fixed assets -€26,443
down €26,443 (-7.6%), from €348,883 to €322,440
of which Land and buildings: -€15,832
- Receivables after one year -€20,000
no longer reported in 2025 (was €20,000)
- Debts after one year -€22,489
down €22,489 (-11.7%), from €192,802 to €170,313
- Profit (loss) carried forward +€7,936
up €7,936 (+411%), from €1,931 to €9,867
- Tax, wage and social debts -€4,204
down €4,204 (-62.6%), from €6,715 to €2,511
of which Remuneration and social security: -€4,204
- Depreciation +€16,520
up €16,520 (+87.6%), from €18,860 to €35,380
- Gross operating margin -€11,302
down €11,302 (-17.4%), from €64,997 to €53,695
- Taxes -€6,779
down €6,779 (-54.3%), from €12,476 to €5,697
- Other operating charges -€3,740
down €3,740 (-63.9%), from €5,850 to €2,110
- Financial income +€1,165
up €1,165 (+304%), from €383 to €1,548
of which Financial income: +€1,365
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €387,385 | €369,915 | -€17,470 | -4.5% |
| Fixed assets | 21/28 | €348,883 | €322,440 | -€26,443 | -7.6% |
| Tangible fixed assets | 22/27 | €348,883 | €322,440 | -€26,443 | -7.6% |
| Land and buildings | 22 | €267,503 | €251,671 | -€15,832 | -5.9% |
| Plant, machinery and equipment | 23 | €10,889 | €7,936 | -€2,953 | -27.1% |
| Furniture and vehicles | 24 | €70,491 | €62,833 | -€7,658 | -10.9% |
| Current assets | 29/58 | €38,502 | €47,475 | +€8,973 | +23.3% |
| Amounts receivable after more than one year | 29 | €20,000 | - | -€20,000 | |
| Trade receivables | 290 | €20,000 | - | -€20,000 | |
| Stocks and contracts in progress | 3 | €95 | - | -€95 | |
| Stocks | 30/36 | €95 | - | -€95 | |
| Amounts receivable within one year | 40/41 | - | €28,071 | +€28,071 | |
| Trade receivables | 40 | - | €2,871 | +€2,871 | |
| Other amounts receivable | 41 | - | €25,200 | +€25,200 | |
| Cash at bank and in hand | 54/58 | €18,407 | €19,404 | +€997 | +5.4% |
| Total equity and liabilities | 10/49 | €387,385 | €369,915 | -€17,470 | -4.5% |
| Equity | 10/15 | €154,691 | €162,627 | +€7,936 | +5.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €147,760 | €147,760 | = | 0.0% |
| Distributable reserves | 133 | €147,760 | €147,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,931 | €9,867 | +€7,936 | +411% |
| Amounts payable | 17/49 | €232,694 | €207,288 | -€25,406 | -10.9% |
| Amounts payable after more than one year | 17 | €192,802 | €170,313 | -€22,489 | -11.7% |
| Financial debts | 170/4 | €192,802 | €170,313 | -€22,489 | -11.7% |
| Amounts payable within one year | 42/48 | €39,892 | €36,975 | -€2,917 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €21,981 | €22,472 | +€491 | +2.2% |
| Trade debts | 44 | €2,925 | €3,246 | +€321 | +11.0% |
| Suppliers | 440/4 | €2,925 | €3,246 | +€321 | +11.0% |
| Taxes, remuneration and social security | 45 | €6,715 | €2,511 | -€4,204 | -62.6% |
| Taxes | 450/3 | €2,511 | €2,511 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,204 | - | -€4,204 | |
| Other amounts payable | 47/48 | €8,271 | €8,746 | +€475 | +5.7% |
| Non-recurring operating income | 76A | €200 | - | -€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,860 | €35,380 | +€16,520 | +87.6% |
| Other operating charges | 640/8 | €5,850 | €2,110 | -€3,740 | -63.9% |
| Gross operating margin | 9900 | €64,997 | €53,695 | -€11,302 | -17.4% |
| Operating profit (loss) | 9901 | €40,287 | €16,205 | -€24,082 | -59.8% |
| Financial income | 75/76B | €383 | €1,548 | +€1,165 | +304% |
| Recurring financial income | 75 | €183 | €1,548 | +€1,365 | +746% |
| Non-recurring financial income | 76B | €200 | - | -€200 | |
| Financial charges | 65/66B | €3,079 | €4,120 | +€1,041 | +33.8% |
| Recurring financial charges | 65 | €3,079 | €4,120 | +€1,041 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €37,591 | €13,633 | -€23,958 | -63.7% |
| Income taxes | 67/77 | €12,476 | €5,697 | -€6,779 | -54.3% |
| Profit (loss) for the period | 9904 | €25,115 | €7,936 | -€17,179 | -68.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,115 | €7,936 | -€17,179 | -68.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.