HOVAN & ZONEN: 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 & ZONEN
Largest movements
- Receivables within one year -€67,345
down €67,345 (-63.3%), from €106,313 to €38,968
of which Other amounts receivable: -€67,342
- Debts after one year -€57,793
down €57,793 (-15.5%), from €372,052 to €314,259
- Reserves -€14,598
down €14,598 (-1.8%), from €813,354 to €798,756
- Current portion of long-term debt +€14,030
up €14,030 (+16.8%), from €83,632 to €97,662
- Gross operating margin -€14,776
down €14,776 (-5.2%), from €282,593 to €267,817
- Taxes -€3,972
down €3,972 (-6.1%), from €65,537 to €61,565
- Financial charges -€3,059
down €3,059 (-18.0%), from €16,998 to €13,939
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 | €1,328,229 | €1,263,562 | -€64,667 | -4.9% |
| Fixed assets | 21/28 | €1,071,746 | €1,068,509 | -€3,237 | -0.3% |
| Tangible fixed assets | 22/27 | €693,738 | €690,501 | -€3,237 | -0.5% |
| Land and buildings | 22 | €574,362 | €551,751 | -€22,611 | -3.9% |
| Furniture and vehicles | 24 | €119,376 | €138,750 | +€19,374 | +16.2% |
| Financial fixed assets | 28 | €378,008 | €378,008 | = | 0.0% |
| Current assets | 29/58 | €256,483 | €195,053 | -€61,430 | -24.0% |
| Amounts receivable within one year | 40/41 | €106,313 | €38,968 | -€67,345 | -63.3% |
| Trade receivables | 40 | €3 | - | -€3 | |
| Other amounts receivable | 41 | €106,310 | €38,968 | -€67,342 | -63.3% |
| Cash at bank and in hand | 54/58 | €150,170 | €155,575 | +€5,405 | +3.6% |
| Deferred charges and accrued income | 490/1 | - | €510 | +€510 | |
| Total equity and liabilities | 10/49 | €1,328,229 | €1,263,562 | -€64,667 | -4.9% |
| Equity | 10/15 | €831,954 | €817,356 | -€14,598 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €813,354 | €798,756 | -€14,598 | -1.8% |
| Distributable reserves | 133 | €813,354 | €798,756 | -€14,598 | -1.8% |
| Amounts payable | 17/49 | €496,275 | €446,206 | -€50,069 | -10.1% |
| Amounts payable after more than one year | 17 | €372,052 | €314,259 | -€57,793 | -15.5% |
| Financial debts | 170/4 | €372,052 | €314,259 | -€57,793 | -15.5% |
| Amounts payable within one year | 42/48 | €118,170 | €125,626 | +€7,456 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €83,632 | €97,662 | +€14,030 | +16.8% |
| Financial debts | 43 | €34,000 | €23,591 | -€10,409 | -30.6% |
| Credit institutions | 430/8 | €34,000 | €23,591 | -€10,409 | -30.6% |
| Trade debts | 44 | €538 | €4,373 | +€3,835 | +713% |
| Suppliers | 440/4 | €538 | €4,373 | +€3,835 | +713% |
| Accrued charges and deferred income | 492/3 | €6,053 | €6,321 | +€268 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,376 | €52,602 | -€1,774 | -3.3% |
| Other operating charges | 640/8 | €3,122 | €3,248 | +€126 | +4.0% |
| Non-recurring operating charges | 66A | - | €3,844 | +€3,844 | |
| Gross operating margin | 9900 | €282,593 | €267,817 | -€14,776 | -5.2% |
| Operating profit (loss) | 9901 | €225,095 | €208,123 | -€16,972 | -7.5% |
| Financial income | 75/76B | €3 | €2 | -€1 | -33.3% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -33.3% |
| Financial charges | 65/66B | €16,998 | €13,939 | -€3,059 | -18.0% |
| Recurring financial charges | 65 | €16,998 | €13,939 | -€3,059 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €208,100 | €194,186 | -€13,914 | -6.7% |
| Income taxes | 67/77 | €65,537 | €61,565 | -€3,972 | -6.1% |
| Profit (loss) for the period | 9904 | €142,563 | €132,621 | -€9,942 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €142,563 | €132,621 | -€9,942 | -7.0% |
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 25 October 2026 via checked.be.