HOVAN: what changed
Two fiscal 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.
What changed
HOVAN
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€620,985
2024 · €431,732+€189,253
Equity
€1.5m
2024 · €1.3m+€220,985
Cash
€576,156
2024 · €643,607-€67,450
Balance sheet total
€5.0m
2024 · €4.6m+€395,453
Largest movements
Assets
- Receivables within one year +€503,691
up €503,691 (+38.7%), from €1.3m to €1.8m
of which Other amounts receivable: +€645,442
- Tangible fixed assets -€148,594
down €148,594 (-7.6%), from €1.9m to €1.8m
of which Plant, machinery and equipment: -€110,679
- Receivables after one year +€84,746
new in 2025: €84,746
- Cash -€67,450
down €67,450 (-10.5%), from €643,607 to €576,156
mainly Receivables within one year (-€503,691) and Contributions, distributions and other (-€400,000)
Equity and liabilities
- Current portion of long-term debt +€249,218
up €249,218 (+121.9%), from €204,518 to €453,736
- Reserves +€220,985
up €220,985 (+17.3%), from €1.3m to €1.5m
of which Distributable reserves: +€220,985
Income statement
- Gross operating margin +€106,217
up €106,217 (+7.2%), from €1.5m to €1.6m
- Staff costs -€104,841
down €104,841 (-15.9%), from €661,077 to €556,236
- Financial charges +€19,289
up €19,289 (+21.6%), from €89,393 to €108,682
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.
Result 2024
€431,732
Gross operating margin
+€106,217
Staff costs
+€104,841
Depreciation
-€8,478
Other operating charges
+€11,815
Financial income
+€3,578
Financial charges
-€19,289
Taxes
-€9,432
Result 2025
€620,985
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.
From operations
+€185,200
Investment
-€63,176
Financing
-€189,474
Cash 2024
€643,607
From operations (derived)
+€185,200
Net result for the year
+€620,985
Depreciation
+€213,031
Receivables after one year
-€84,746
Stocks and contracts
-€34,443
Receivables within one year
-€503,691
Deferred charges and accrued income
+€10,123
Trade debts
-€33,354
Tax, wage and social debts
+€27,650
Other debts
-€31,742
Accrued charges and deferred income
+€1,387
Investment (derived)
-€63,176
Investment in fixed assets (net)
-€63,176
Financing
-€189,474
Debts after one year
-€38,692
Current portion of long-term debt
+€249,218
Contributions, distributions and other
-€400,000
Cash 2025
€576,156
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,583,802 | €4,979,255 | +€395,453 | +8.6% |
| Formation expenses | 20 | €1,888 | €627 | -€1,261 | -66.8% |
| Fixed assets | 21/28 | €1,957,609 | €1,809,015 | -€148,594 | -7.6% |
| Tangible fixed assets | 22/27 | €1,942,449 | €1,793,855 | -€148,594 | -7.6% |
| Land and buildings | 22 | €882,472 | €860,405 | -€22,066 | -2.5% |
| Plant, machinery and equipment | 23 | €926,412 | €815,734 | -€110,679 | -11.9% |
| Furniture and vehicles | 24 | €6,919 | €5,721 | -€1,198 | -17.3% |
| Other tangible fixed assets | 26 | €126,646 | €111,995 | -€14,651 | -11.6% |
| Financial fixed assets | 28 | €15,161 | €15,161 | = | 0.0% |
| Current assets | 29/58 | €2,624,305 | €3,169,613 | +€545,307 | +20.8% |
| Amounts receivable after more than one year | 29 | - | €84,746 | +€84,746 | |
| Other amounts receivable | 291 | - | €84,746 | +€84,746 | |
| Stocks and contracts in progress | 3 | €623,416 | €657,859 | +€34,443 | +5.5% |
| Stocks | 30/36 | €623,416 | €657,859 | +€34,443 | +5.5% |
| Amounts receivable within one year | 40/41 | €1,299,915 | €1,803,607 | +€503,691 | +38.7% |
| Trade receivables | 40 | €312,951 | €171,201 | -€141,750 | -45.3% |
| Other amounts receivable | 41 | €986,964 | €1,632,406 | +€645,442 | +65.4% |
| Current investments | 50/53 | €3,329 | €3,329 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €643,607 | €576,156 | -€67,450 | -10.5% |
| Deferred charges and accrued income | 490/1 | €54,038 | €43,916 | -€10,123 | -18.7% |
| Total equity and liabilities | 10/49 | €4,583,802 | €4,979,255 | +€395,453 | +8.6% |
| Equity | 10/15 | €1,307,065 | €1,528,050 | +€220,985 | +16.9% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Outside capital | 11 | €30,987 | €30,987 | = | 0.0% |
| Other | 1109/19 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €1,276,078 | €1,497,064 | +€220,985 | +17.3% |
| Tax-exempt reserves | 132 | €59,251 | €59,251 | = | 0.0% |
| Distributable reserves | 133 | €1,216,827 | €1,437,813 | +€220,985 | +18.2% |
| Amounts payable | 17/49 | €3,276,737 | €3,451,205 | +€174,467 | +5.3% |
| Amounts payable after more than one year | 17 | €1,684,308 | €1,645,616 | -€38,692 | -2.3% |
| Financial debts | 170/4 | €542,857 | €581,024 | +€38,167 | +7.0% |
| Trade debts | 175 | €1,141,451 | €1,064,593 | -€76,859 | -6.7% |
| Amounts payable within one year | 42/48 | €1,573,054 | €1,784,826 | +€211,773 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €204,518 | €453,736 | +€249,218 | +121.9% |
| Trade debts | 44 | €293,862 | €260,508 | -€33,354 | -11.4% |
| Suppliers | 440/4 | €293,862 | €260,508 | -€33,354 | -11.4% |
| Taxes, remuneration and social security | 45 | €128,501 | €156,151 | +€27,650 | +21.5% |
| Taxes | 450/3 | €9,609 | €52,789 | +€43,179 | +449.3% |
| Remuneration and social security | 454/9 | €118,892 | €103,363 | -€15,529 | -13.1% |
| Other amounts payable | 47/48 | €946,172 | €914,431 | -€31,742 | -3.4% |
| Accrued charges and deferred income | 492/3 | €19,375 | €20,762 | +€1,387 | +7.2% |
| Remuneration, social security and pensions | 62 | €661,077 | €556,236 | -€104,841 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,553 | €213,031 | +€8,478 | +4.1% |
| Other operating charges | 640/8 | €21,144 | €9,329 | -€11,815 | -55.9% |
| Gross operating margin | 9900 | €1,478,703 | €1,584,920 | +€106,217 | +7.2% |
| Operating profit (loss) | 9901 | €591,928 | €806,325 | +€214,396 | +36.2% |
| Financial income | 75/76B | - | €3,578 | +€3,578 | |
| Recurring financial income | 75 | - | €3,578 | +€3,578 | |
| Financial charges | 65/66B | €89,393 | €108,682 | +€19,289 | +21.6% |
| Recurring financial charges | 65 | €89,393 | €108,682 | +€19,289 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €502,536 | €701,221 | +€198,685 | +39.5% |
| Income taxes | 67/77 | €70,803 | €80,236 | +€9,432 | +13.3% |
| Profit (loss) for the period | 9904 | €431,732 | €620,985 | +€189,253 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €431,732 | €620,985 | +€189,253 | +43.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.