WERNER VANDERHAEGHE: 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.
WERNER VANDERHAEGHE
Largest movements
- Current investments -€15,653
down €15,653 (-49.0%), from €31,918 to €16,266
- Receivables within one year -€13,410
down €13,410 (-87.9%), from €15,258 to €1,848
of which Trade receivables: -€14,500
- Cash -€4,430
down €4,430 (-29.2%), from €15,177 to €10,747
mainly Contributions, distributions and other (-€25,642) and Net result for the year (-€8,210)
- Tangible fixed assets -€2,316
down €2,316 (-27.1%), from €8,561 to €6,245
of which Land and buildings: -€2,307
- Reserves -€25,642
down €25,642 (-31.4%), from €81,640 to €55,998
- Profit (loss) carried forward -€8,210
down €8,210 (-43.6%), from -€18,846 to -€27,056
- Tax, wage and social debts -€2,183
down €2,183 (-54.4%), from €4,014 to €1,831
- Accrued charges and deferred income +€1,113
up €1,113 (+45.5%), from €2,448 to €3,561
- Other debts -€979
down €979 (-28.6%), from €3,428 to €2,448
- Financial charges +€9,269
up €9,269 (+247%), from €3,758 to €13,027
of which Non-recurring financial charges: +€9,491
- Taxes +€2,313
up €2,313 (+249%), from €930 to €3,243
- Gross operating margin -€1,498
down €1,498 (-11.8%), from €12,647 to €11,148
- Financial income +€1,372
up €1,372 (+101%), from €1,354 to €2,727
of which Non-recurring financial income: +€1,259
- Other operating charges -€1,158
down €1,158 (-51.5%), from €2,247 to €1,089
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 | €77,182 | €41,548 | -€35,634 | -46.2% |
| Fixed assets | 21/28 | €8,561 | €6,245 | -€2,316 | -27.1% |
| Tangible fixed assets | 22/27 | €8,561 | €6,245 | -€2,316 | -27.1% |
| Land and buildings | 22 | €2,356 | €49 | -€2,307 | -97.9% |
| Furniture and vehicles | 24 | €3,287 | €2,707 | -€579 | -17.6% |
| Other tangible fixed assets | 26 | €2,919 | €3,489 | +€571 | +19.6% |
| Current assets | 29/58 | €68,621 | €35,303 | -€33,318 | -48.6% |
| Amounts receivable within one year | 40/41 | €15,258 | €1,848 | -€13,410 | -87.9% |
| Trade receivables | 40 | €14,500 | - | -€14,500 | |
| Other amounts receivable | 41 | €758 | €1,848 | +€1,090 | +144% |
| Current investments | 50/53 | €31,918 | €16,266 | -€15,653 | -49.0% |
| Cash at bank and in hand | 54/58 | €15,177 | €10,747 | -€4,430 | -29.2% |
| Deferred charges and accrued income | 490/1 | €6,268 | €6,443 | +€175 | +2.8% |
| Total equity and liabilities | 10/49 | €77,182 | €41,548 | -€35,634 | -46.2% |
| Equity | 10/15 | €65,294 | €31,442 | -€33,852 | -51.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €81,640 | €55,998 | -€25,642 | -31.4% |
| Distributable reserves | 133 | €81,640 | €55,998 | -€25,642 | -31.4% |
| Profit (loss) carried forward | 14 | -€18,846 | -€27,056 | -€8,210 | -43.6% |
| Amounts payable | 17/49 | €11,888 | €10,106 | -€1,782 | -15.0% |
| Amounts payable within one year | 42/48 | €9,441 | €6,545 | -€2,896 | -30.7% |
| Trade debts | 44 | €1,999 | €2,265 | +€266 | +13.3% |
| Suppliers | 440/4 | €1,999 | €2,265 | +€266 | +13.3% |
| Taxes, remuneration and social security | 45 | €4,014 | €1,831 | -€2,183 | -54.4% |
| Taxes | 450/3 | €4,014 | €1,831 | -€2,183 | -54.4% |
| Other amounts payable | 47/48 | €3,428 | €2,448 | -€979 | -28.6% |
| Accrued charges and deferred income | 492/3 | €2,448 | €3,561 | +€1,113 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,654 | €4,726 | +€72 | +1.5% |
| Other operating charges | 640/8 | €2,247 | €1,089 | -€1,158 | -51.5% |
| Gross operating margin | 9900 | €12,647 | €11,148 | -€1,498 | -11.8% |
| Operating profit (loss) | 9901 | €5,746 | €5,333 | -€413 | -7.2% |
| Financial income | 75/76B | €1,354 | €2,727 | +€1,372 | +101% |
| Recurring financial income | 75 | €16 | €129 | +€113 | +701% |
| Non-recurring financial income | 76B | €1,338 | €2,598 | +€1,259 | +94.1% |
| Financial charges | 65/66B | €3,758 | €13,027 | +€9,269 | +247% |
| Recurring financial charges | 65 | €1,834 | €1,611 | -€223 | -12.2% |
| Non-recurring financial charges | 66B | €1,924 | €11,416 | +€9,491 | +493% |
| Profit (loss) for the period before taxes | 9903 | €3,342 | -€4,967 | -€8,309 | |
| Income taxes | 67/77 | €930 | €3,243 | +€2,313 | +249% |
| Profit (loss) for the period | 9904 | €2,412 | -€8,210 | -€10,622 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,412 | -€8,210 | -€10,622 |
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 19 October 2026 via checked.be.