VANTHOVEST: 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.
VANTHOVEST
Largest movements
- Tangible fixed assets +€364,110
up €364,110 (+33.7%), from €1.1m to €1.4m
of which Land and buildings: +€324,340
- Cash -€130,107
down €130,107 (-99.8%), from €130,411 to €304
mainly Investment in fixed assets (net) (-€460,515) and Contributions, distributions and other (-€241,384)
- Receivables within one year +€86,579
up €86,579 (+42.3%), from €204,919 to €291,498
- Debts after one year +€197,298
up €197,298 (+17.4%), from €1.1m to €1.3m
- Reserves -€154,108
no longer reported in 2025 (was €154,108)
of which Distributable reserves: -€153,194
- Other debts +€126,524
new in 2025: €126,524
- Trade debts +€98,770
up €98,770 (+395%), from €25,008 to €123,778
- Current portion of long-term debt +€38,225
up €38,225 (+48.4%), from €78,907 to €117,132
- Gross operating margin +€27,367
up €27,367 (+12.5%), from €219,001 to €246,368
- Depreciation -€19,796
down €19,796 (-17.0%), from €116,201 to €96,405
- Financial charges +€12,922
up €12,922 (+47.0%), from €27,520 to €40,442
- Taxes +€5,433
up €5,433 (+38.9%), from €13,953 to €19,386
- Other operating charges +€3,308
up €3,308 (+300%), from €1,103 to €4,411
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 | €1,419,187 | €1,748,796 | +€329,609 | +23.2% |
| Fixed assets | 21/28 | €1,078,964 | €1,443,073 | +€364,110 | +33.7% |
| Tangible fixed assets | 22/27 | €1,078,964 | €1,443,073 | +€364,110 | +33.7% |
| Land and buildings | 22 | €1,064,265 | €1,388,605 | +€324,340 | +30.5% |
| Plant, machinery and equipment | 23 | €14,699 | €54,469 | +€39,769 | +271% |
| Current assets | 29/58 | €340,223 | €305,722 | -€34,501 | -10.1% |
| Amounts receivable within one year | 40/41 | €204,919 | €291,498 | +€86,579 | +42.3% |
| Other amounts receivable | 41 | €204,919 | €291,498 | +€86,579 | +42.3% |
| Current investments | 50/53 | - | €7,250 | +€7,250 | |
| Cash at bank and in hand | 54/58 | €130,411 | €304 | -€130,107 | -99.8% |
| Deferred charges and accrued income | 490/1 | €4,893 | €6,670 | +€1,777 | +36.3% |
| Total equity and liabilities | 10/49 | €1,419,187 | €1,748,796 | +€329,609 | +23.2% |
| Equity | 10/15 | €163,253 | €9,145 | -€154,108 | -94.4% |
| Contributions | 10/11 | €9,145 | €9,145 | = | 0.0% |
| Reserves | 13 | €154,108 | - | -€154,108 | |
| Non-distributable reserves | 130/1 | €914 | - | -€914 | |
| Reserves not available under the articles | 1311 | €914 | - | -€914 | |
| Distributable reserves | 133 | €153,194 | - | -€153,194 | |
| Amounts payable | 17/49 | €1,255,934 | €1,739,651 | +€483,717 | +38.5% |
| Amounts payable after more than one year | 17 | €1,132,544 | €1,329,842 | +€197,298 | +17.4% |
| Financial debts | 170/4 | €1,132,544 | €1,329,842 | +€197,298 | +17.4% |
| Amounts payable within one year | 42/48 | €123,390 | €409,809 | +€286,419 | +232% |
| Current portion of amounts payable after more than one year | 42 | €78,907 | €117,132 | +€38,225 | +48.4% |
| Trade debts | 44 | €25,008 | €123,778 | +€98,770 | +395% |
| Suppliers | 440/4 | €25,008 | €123,778 | +€98,770 | +395% |
| Taxes, remuneration and social security | 45 | €19,475 | €42,375 | +€22,900 | +118% |
| Taxes | 450/3 | €19,475 | €39,375 | +€19,900 | +102% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | - | €126,524 | +€126,524 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,201 | €96,405 | -€19,796 | -17.0% |
| Other operating charges | 640/8 | €1,103 | €4,411 | +€3,308 | +300% |
| Gross operating margin | 9900 | €219,001 | €246,368 | +€27,367 | +12.5% |
| Operating profit (loss) | 9901 | €101,696 | €145,551 | +€43,855 | +43.1% |
| Financial income | 75/76B | €25 | €1,553 | +€1,528 | +6,118% |
| Recurring financial income | 75 | €25 | €1,553 | +€1,528 | +6,118% |
| Financial charges | 65/66B | €27,520 | €40,442 | +€12,922 | +47.0% |
| Recurring financial charges | 65 | €27,520 | €40,442 | +€12,922 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €74,201 | €106,662 | +€32,461 | +43.7% |
| Income taxes | 67/77 | €13,953 | €19,386 | +€5,433 | +38.9% |
| Profit (loss) for the period | 9904 | €60,248 | €87,276 | +€27,028 | +44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,248 | €87,276 | +€27,028 | +44.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.