HoVan Agro: 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.
HoVan Agro
Largest movements
- Tangible fixed assets +€51,545
up €51,545 (+26.1%), from €197,423 to €248,967
of which Plant, machinery and equipment: +€53,795
- Cash +€11,888
up €11,888 (+8.2%), from €145,627 to €157,516
mainly Net result for the year (+€175,393) and Depreciation (+€84,455)
- Reserves +€175,393
up €175,393 (+90.1%), from €194,682 to €370,075
of which Distributable reserves: +€175,393
- Other debts -€100,932
no longer reported in 2025 (was €100,932)
- Trade debts -€64,366
down €64,366 (-29.8%), from €215,930 to €151,565
- Tax, wage and social debts +€49,449
up €49,449 (+292%), from €16,945 to €66,394
of which Taxes: +€47,550
- Debts after one year +€33,717
new in 2025: €33,717
- Gross operating margin +€224,771
up €224,771 (+90.3%), from €249,045 to €473,816
- Taxes +€50,360
up €50,360 (+698%), from €7,215 to €57,575
- Staff costs +€10,075
up €10,075 (+7.0%), from €143,964 to €154,038
- Depreciation +€9,675
up €9,675 (+12.9%), from €74,780 to €84,455
- Financial income -€5,668
down €5,668 (-90.8%), from €6,241 to €574
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 | €629,589 | €698,150 | +€68,561 | +10.9% |
| Fixed assets | 21/28 | €197,423 | €248,967 | +€51,545 | +26.1% |
| Tangible fixed assets | 22/27 | €197,423 | €248,967 | +€51,545 | +26.1% |
| Plant, machinery and equipment | 23 | €189,132 | €242,926 | +€53,795 | +28.4% |
| Furniture and vehicles | 24 | €8,291 | €6,041 | -€2,250 | -27.1% |
| Current assets | 29/58 | €432,166 | €449,183 | +€17,017 | +3.9% |
| Amounts receivable within one year | 40/41 | €284,924 | €290,867 | +€5,943 | +2.1% |
| Trade receivables | 40 | €36,915 | €156,479 | +€119,564 | +324% |
| Other amounts receivable | 41 | €248,009 | €134,388 | -€113,621 | -45.8% |
| Cash at bank and in hand | 54/58 | €145,627 | €157,516 | +€11,888 | +8.2% |
| Deferred charges and accrued income | 490/1 | €1,615 | €800 | -€815 | -50.5% |
| Total equity and liabilities | 10/49 | €629,589 | €698,150 | +€68,561 | +10.9% |
| Equity | 10/15 | €213,282 | €388,675 | +€175,393 | +82.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,682 | €370,075 | +€175,393 | +90.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,323 | €7,323 | = | 0.0% |
| Distributable reserves | 133 | €185,499 | €360,892 | +€175,393 | +94.6% |
| Amounts payable | 17/49 | €416,307 | €309,475 | -€106,831 | -25.7% |
| Amounts payable after more than one year | 17 | - | €33,717 | +€33,717 | |
| Financial debts | 170/4 | - | €33,717 | +€33,717 | |
| Amounts payable within one year | 42/48 | €416,307 | €275,759 | -€140,548 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €82,500 | €57,800 | -€24,700 | -29.9% |
| Trade debts | 44 | €215,930 | €151,565 | -€64,366 | -29.8% |
| Suppliers | 440/4 | €215,930 | €151,565 | -€64,366 | -29.8% |
| Taxes, remuneration and social security | 45 | €16,945 | €66,394 | +€49,449 | +292% |
| Taxes | 450/3 | €652 | €48,202 | +€47,550 | +7,289% |
| Remuneration and social security | 454/9 | €16,293 | €18,192 | +€1,899 | +11.7% |
| Other amounts payable | 47/48 | €100,932 | - | -€100,932 | |
| Remuneration, social security and pensions | 62 | €143,964 | €154,038 | +€10,075 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,780 | €84,455 | +€9,675 | +12.9% |
| Other operating charges | 640/8 | €1,163 | €1,224 | +€61 | +5.2% |
| Gross operating margin | 9900 | €249,045 | €473,816 | +€224,771 | +90.3% |
| Operating profit (loss) | 9901 | €29,137 | €234,098 | +€204,961 | +703% |
| Financial income | 75/76B | €6,241 | €574 | -€5,668 | -90.8% |
| Recurring financial income | 75 | €6,241 | €574 | -€5,668 | -90.8% |
| Financial charges | 65/66B | €1,243 | €1,704 | +€460 | +37.0% |
| Recurring financial charges | 65 | €1,243 | €1,704 | +€460 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €34,135 | €232,968 | +€198,833 | +582% |
| Income taxes | 67/77 | €7,215 | €57,575 | +€50,360 | +698% |
| Profit (loss) for the period | 9904 | €26,920 | €175,393 | +€148,472 | +552% |
| Profit (loss) for the period to be appropriated | 9905 | €26,920 | €175,393 | +€148,472 | +552% |
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.