Dr. Ph. Van Hover: 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. Ph. Van Hover
Largest movements
- Current investments -€153,051
down €153,051 (-12.7%), from €1.2m to €1.1m
- Receivables within one year -€149,605
down €149,605 (-69.3%), from €216,035 to €66,430
- Cash +€63,487
up €63,487 (+33.7%), from €188,446 to €251,934
mainly Other debts (+€731,178) and Net result for the year (+€545,598)
- Receivables after one year -€42,063
down €42,063 (-3.1%), from €1.4m to €1.3m
- Reserves -€1.0m
down €1.0m (-37.8%), from €2.7m to €1.7m
of which Distributable reserves: -€1.0m
- Other debts +€731,178
up €731,178 (+143.1%), from €510,851 to €1.2m
- Gross operating margin -€68,439
down €68,439 (-8.2%), from €830,885 to €762,446
- Depreciation -€37,583
down €37,583 (-57.1%), from €65,801 to €28,218
- Financial income +€25,266
up €25,266 (+52.6%), from €48,019 to €73,285
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.
Cash bridge derived
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 | €3,330,874 | €3,027,460 | -€303,415 | -9.1% |
| Fixed assets | 21/28 | €50,359 | €26,091 | -€24,267 | -48.2% |
| Tangible fixed assets | 22/27 | €50,359 | €26,091 | -€24,267 | -48.2% |
| Land and buildings | 22 | €1,060 | €985 | -€76 | -7.1% |
| Furniture and vehicles | 24 | €49,298 | €25,107 | -€24,192 | -49.1% |
| Current assets | 29/58 | €3,280,516 | €3,001,368 | -€279,148 | -8.5% |
| Amounts receivable after more than one year | 29 | €1,357,164 | €1,315,101 | -€42,063 | -3.1% |
| Other amounts receivable | 291 | €1,357,164 | €1,315,101 | -€42,063 | -3.1% |
| Amounts receivable within one year | 40/41 | €216,035 | €66,430 | -€149,605 | -69.3% |
| Other amounts receivable | 41 | €216,035 | €66,430 | -€149,605 | -69.3% |
| Current investments | 50/53 | €1,208,112 | €1,055,061 | -€153,051 | -12.7% |
| Cash at bank and in hand | 54/58 | €188,446 | €251,934 | +€63,487 | +33.7% |
| Deferred charges and accrued income | 490/1 | €310,759 | €312,842 | +€2,083 | +0.7% |
| Total equity and liabilities | 10/49 | €3,330,874 | €3,027,460 | -€303,415 | -9.1% |
| Equity | 10/15 | €2,772,606 | €1,766,659 | -€1.0m | -36.3% |
| Contributions | 10/11 | €111,600 | €111,600 | = | 0.0% |
| Reserves | 13 | €2,661,006 | €1,655,059 | -€1.0m | -37.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,661,006 | €1,655,059 | -€1.0m | -37.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €558,268 | €1,260,800 | +€702,532 | +125.8% |
| Amounts payable after more than one year | 17 | €10,333 | €0 | -€10,333 | -100.0% |
| Financial debts | 170/4 | €10,333 | €0 | -€10,333 | -100.0% |
| Amounts payable within one year | 42/48 | €547,935 | €1,260,800 | +€712,865 | +130.1% |
| Current portion of amounts payable after more than one year | 42 | €28,477 | €10,333 | -€18,143 | -63.7% |
| Financial debts | 43 | - | €150 | +€150 | |
| Credit institutions | 430/8 | - | €150 | +€150 | |
| Trade debts | 44 | €8,607 | €8,288 | -€319 | -3.7% |
| Suppliers | 440/4 | €8,607 | €8,288 | -€319 | -3.7% |
| Other amounts payable | 47/48 | €510,851 | €1,242,029 | +€731,178 | +143.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,801 | €28,218 | -€37,583 | -57.1% |
| Other operating charges | 640/8 | €6,860 | €5,811 | -€1,049 | -15.3% |
| Gross operating margin | 9900 | €830,885 | €762,446 | -€68,439 | -8.2% |
| Operating profit (loss) | 9901 | €758,224 | €728,417 | -€29,807 | -3.9% |
| Financial income | 75/76B | €48,019 | €73,285 | +€25,266 | +52.6% |
| Recurring financial income | 75 | €48,019 | €73,285 | +€25,266 | +52.6% |
| Financial charges | 65/66B | €9,528 | €10,523 | +€995 | +10.4% |
| Recurring financial charges | 65 | €9,528 | €10,523 | +€995 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €796,715 | €791,179 | -€5,536 | -0.7% |
| Income taxes | 67/77 | €248,408 | €245,581 | -€2,827 | -1.1% |
| Profit (loss) for the period | 9904 | €548,307 | €545,598 | -€2,710 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €548,307 | €545,598 | -€2,710 | -0.5% |
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 12 October 2026 via checked.be.