P. VAN HOVE: 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.
What changed
P. VAN HOVE
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€911,498
2024 · €952,088-€40,590
Equity
€9.2m
2024 · €8.3m+€911,498
Cash
€55,179
2024 · €51,134+€4,045
Balance sheet total
€10.1m
2024 · €9.3m+€783,516
Largest movements
Assets
- Financial fixed assets +€8.1m
up €8.1m (+1,772%), from €454,500 to €8.5m
- Receivables after one year -€7.2m
down €7.2m (-93.4%), from €7.7m to €510,000
Equity and liabilities
- Reserves +€911,498
up €911,498 (+11.0%), from €8.3m to €9.2m
of which Distributable reserves: +€658,898
- Short-term financial debts -€126,943
down €126,943 (-13.2%), from €964,103 to €837,160
of which Other loans: -€185,250
Income statement
- Turnover -€244,102
down €244,102 (-15.3%), from €1.6m to €1.4m
- Gross operating margin -€217,455
down €217,455 (-15.6%), from €1.4m to €1.2m
- Taxes -€114,351
down €114,351 (-25.0%), from €456,570 to €342,219
- Financial charges -€78,112
down €78,112 (-61.0%), from €128,093 to €49,981
- Purchases and services -€26,647
down €26,647 (-13.0%), from €205,502 to €178,855
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
€952,088
Gross operating margin
-€217,455
Depreciation
+€620
Financial income
-€16,218
Financial charges
+€78,112
Taxes
+€114,351
Result 2025
€911,498
raises the resultlowers the result
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.
From operations
+€8.1m
Investment
-€8.0m
Financing
-€72,253
Cash 2024
€51,134
From operations (derived)
+€8.1m
Net result for the year
+€911,498
Depreciation
+€13,448
Receivables after one year
+€7.2m
Receivables within one year
-€55,112
Deferred charges and accrued income
+€85,637
Smaller working-capital items
-€10,729
Tax, wage and social debts
-€45,000
Investment (derived)
-€8.0m
Investment in fixed assets (net)
-€8.1m
Current investments
+€68,269
Financing
-€72,253
Debts after one year
+€54,690
Short-term financial debts
-€126,943
Cash 2025
€55,179
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,348,779 | €10,132,295 | +€783,516 | +8.4% |
| Fixed assets | 21/28 | €504,042 | €8,550,583 | +€8.0m | +1,596% |
| Tangible fixed assets | 22/27 | €49,542 | €40,583 | -€8,959 | -18.1% |
| Land and buildings | 22 | €35,954 | €26,770 | -€9,184 | -25.5% |
| Plant, machinery and equipment | 23 | €12,895 | €9,828 | -€3,067 | -23.8% |
| Furniture and vehicles | 24 | €693 | €3,985 | +€3,292 | +475% |
| Financial fixed assets | 28 | €454,500 | €8,510,000 | +€8.1m | +1,772% |
| Current assets | 29/58 | €8,844,737 | €1,581,712 | -€7.3m | -82.1% |
| Amounts receivable after more than one year | 29 | €7,678,276 | €510,000 | -€7.2m | -93.4% |
| Other amounts receivable | 291 | €7,678,276 | €510,000 | -€7.2m | -93.4% |
| Amounts receivable within one year | 40/41 | €104,112 | €159,224 | +€55,112 | +52.9% |
| Trade receivables | 40 | €937 | - | -€937 | |
| Other amounts receivable | 41 | €103,175 | €159,224 | +€56,049 | +54.3% |
| Current investments | 50/53 | €903,814 | €835,545 | -€68,269 | -7.6% |
| Cash at bank and in hand | 54/58 | €51,134 | €55,179 | +€4,045 | +7.9% |
| Deferred charges and accrued income | 490/1 | €107,401 | €21,764 | -€85,637 | -79.7% |
| Total equity and liabilities | 10/49 | €9,348,779 | €10,132,295 | +€783,516 | +8.4% |
| Equity | 10/15 | €8,289,530 | €9,201,028 | +€911,498 | +11.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €8,270,980 | €9,182,478 | +€911,498 | +11.0% |
| Non-distributable reserves | 130/1 | €169,500 | €169,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €169,500 | €169,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,635,805 | €1,888,405 | +€252,600 | +15.4% |
| Distributable reserves | 133 | €6,465,675 | €7,124,573 | +€658,898 | +10.2% |
| Amounts payable | 17/49 | €1,059,249 | €931,267 | -€127,982 | -12.1% |
| Amounts payable after more than one year | 17 | - | €54,690 | +€54,690 | |
| Financial debts | 170/4 | - | €54,690 | +€54,690 | |
| Amounts payable within one year | 42/48 | €1,009,166 | €837,287 | -€171,879 | -17.0% |
| Financial debts | 43 | €964,103 | €837,160 | -€126,943 | -13.2% |
| Credit institutions | 430/8 | €176,603 | €234,910 | +€58,307 | +33.0% |
| Other loans | 439 | €787,500 | €602,250 | -€185,250 | -23.5% |
| Trade debts | 44 | €63 | €127 | +€64 | +102% |
| Suppliers | 440/4 | €63 | €127 | +€64 | +102% |
| Taxes, remuneration and social security | 45 | €45,000 | - | -€45,000 | |
| Taxes | 450/3 | €45,000 | - | -€45,000 | |
| Accrued charges and deferred income | 492/3 | €50,083 | €39,290 | -€10,793 | -21.6% |
| Turnover | 70 | €1,598,921 | €1,354,819 | -€244,102 | -15.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €205,502 | €178,855 | -€26,647 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,068 | €13,448 | -€620 | -4.4% |
| Gross operating margin | 9900 | €1,393,419 | €1,175,964 | -€217,455 | -15.6% |
| Operating profit (loss) | 9901 | €1,379,351 | €1,162,516 | -€216,835 | -15.7% |
| Financial income | 75/76B | €157,400 | €141,182 | -€16,218 | -10.3% |
| Recurring financial income | 75 | €157,400 | €109,905 | -€47,495 | -30.2% |
| Non-recurring financial income | 76B | - | €31,277 | +€31,277 | |
| Financial charges | 65/66B | €128,093 | €49,981 | -€78,112 | -61.0% |
| Recurring financial charges | 65 | €128,093 | €49,981 | -€78,112 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | €1,408,658 | €1,253,717 | -€154,941 | -11.0% |
| Income taxes | 67/77 | €456,570 | €342,219 | -€114,351 | -25.0% |
| Profit (loss) for the period | 9904 | €952,088 | €911,498 | -€40,590 | -4.3% |
| Transfer from tax-exempt reserves | 789 | €447,010 | €168,400 | -€278,610 | -62.3% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €421,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €978,098 | €658,898 | -€319,200 | -32.6% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.