DR.J. VAN HOONACKER: 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.
DR.J. VAN HOONACKER
Largest movements
- Cash +€689,185
up €689,185 (+551%), from €125,051 to €814,235
mainly Net result for the year (+€508,577) and Current investments (+€360,239)
- Current investments -€360,239
down €360,239 (-32.3%), from €1.1m to €753,342
- Tangible fixed assets -€42,233
down €42,233 (-11.2%), from €375,739 to €333,506
of which Other tangible fixed assets: -€45,218
- Reserves +€295,444
up €295,444 (+14.2%), from €2.1m to €2.4m
of which Distributable reserves: +€295,444
- Tax, wage and social debts +€43,721
up €43,721 (+611%), from €7,157 to €50,878
- Current portion of long-term debt -€33,541
down €33,541 (-58.3%), from €57,500 to €23,959
- Gross operating margin +€84,330
up €84,330 (+12.4%), from €678,861 to €763,191
- Taxes +€46,673
up €46,673 (+24.2%), from €192,946 to €239,619
- Financial income +€14,825
up €14,825 (+64.4%), from €23,036 to €37,861
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 | €2,176,660 | €2,462,848 | +€286,188 | +13.1% |
| Fixed assets | 21/28 | €375,739 | €333,506 | -€42,233 | -11.2% |
| Tangible fixed assets | 22/27 | €375,739 | €333,506 | -€42,233 | -11.2% |
| Furniture and vehicles | 24 | €3,138 | €6,123 | +€2,984 | +95.1% |
| Other tangible fixed assets | 26 | €372,601 | €327,383 | -€45,218 | -12.1% |
| Current assets | 29/58 | €1,800,921 | €2,129,342 | +€328,421 | +18.2% |
| Amounts receivable within one year | 40/41 | €552,389 | €554,765 | +€2,376 | +0.4% |
| Trade receivables | 40 | - | €2,965 | +€2,965 | |
| Other amounts receivable | 41 | €552,389 | €551,800 | -€589 | -0.1% |
| Current investments | 50/53 | €1,113,581 | €753,342 | -€360,239 | -32.3% |
| Cash at bank and in hand | 54/58 | €125,051 | €814,235 | +€689,185 | +551% |
| Deferred charges and accrued income | 490/1 | €9,900 | €6,999 | -€2,901 | -29.3% |
| Total equity and liabilities | 10/49 | €2,176,660 | €2,462,848 | +€286,188 | +13.1% |
| Equity | 10/15 | €2,088,044 | €2,383,488 | +€295,444 | +14.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,075,644 | €2,371,088 | +€295,444 | +14.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,073,784 | €2,369,228 | +€295,444 | +14.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €88,616 | €79,360 | -€9,256 | -10.4% |
| Amounts payable after more than one year | 17 | €23,959 | €0 | -€23,959 | -100% |
| Financial debts | 170/4 | €23,959 | €0 | -€23,959 | -100% |
| Amounts payable within one year | 42/48 | €64,657 | €79,360 | +€14,703 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €57,500 | €23,959 | -€33,541 | -58.3% |
| Trade debts | 44 | - | €630 | +€630 | |
| Suppliers | 440/4 | - | €630 | +€630 | |
| Taxes, remuneration and social security | 45 | €7,157 | €50,878 | +€43,721 | +611% |
| Taxes | 450/3 | €7,157 | €50,878 | +€43,721 | +611% |
| Other amounts payable | 47/48 | €0 | €3,893 | +€3,893 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,641 | €47,739 | +€1,099 | +2.4% |
| Other operating charges | 640/8 | €2,823 | €3,006 | +€183 | +6.5% |
| Gross operating margin | 9900 | €678,861 | €763,191 | +€84,330 | +12.4% |
| Operating profit (loss) | 9901 | €629,397 | €712,445 | +€83,048 | +13.2% |
| Financial income | 75/76B | €23,036 | €37,861 | +€14,825 | +64.4% |
| Recurring financial income | 75 | €23,036 | €37,861 | +€14,825 | +64.4% |
| Financial charges | 65/66B | €2,135 | €2,110 | -€25 | -1.2% |
| Recurring financial charges | 65 | €2,135 | €2,110 | -€25 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €650,297 | €748,196 | +€97,899 | +15.1% |
| Income taxes | 67/77 | €192,946 | €239,619 | +€46,673 | +24.2% |
| Profit (loss) for the period | 9904 | €457,351 | €508,577 | +€51,225 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €457,351 | €508,577 | +€51,225 | +11.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.