PMA Van Hoecke: 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.
PMA Van Hoecke
Largest movements
- Current investments +€260,686
up €260,686 (+237%), from €109,894 to €370,580
- Receivables after one year +€174,850
up €174,850 (+24.7%), from €709,150 to €884,000
- Cash -€143,139
down €143,139 (-47.9%), from €298,897 to €155,757
mainly Contributions, distributions and other (-€471,146) and Current investments (-€260,686)
- Tangible fixed assets -€90,314
down €90,314 (-18.8%), from €479,316 to €389,002
of which Leasing and similar rights: -€59,523
- Receivables within one year +€77,665
up €77,665 (+21.6%), from €358,907 to €436,572
of which Trade receivables: +€53,651
- Other debts +€267,088
up €267,088 (+191%), from €139,714 to €406,802
- Short-term financial debts +€79,908
up €79,908 (+15.7%), from €508,242 to €588,150
- Debts after one year -€47,872
down €47,872 (-17.8%), from €269,310 to €221,438
- Profit (loss) carried forward -€34,894
no longer reported in 2025 (was €34,894)
- Gross operating margin +€89,332
up €89,332 (+15.2%), from €586,570 to €675,902
- Financial income +€9,073
up €9,073 (+43.7%), from €20,768 to €29,841
- Taxes +€8,048
up €8,048 (+5.9%), from €135,553 to €143,601
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 | €1,966,316 | €2,246,856 | +€280,540 | +14.3% |
| Fixed assets | 21/28 | €479,316 | €389,002 | -€90,314 | -18.8% |
| Tangible fixed assets | 22/27 | €479,316 | €389,002 | -€90,314 | -18.8% |
| Plant, machinery and equipment | 23 | €7,599 | €5,475 | -€2,124 | -28.0% |
| Furniture and vehicles | 24 | €69,475 | €49,266 | -€20,209 | -29.1% |
| Leasing and similar rights | 25 | €337,278 | €277,754 | -€59,523 | -17.6% |
| Other tangible fixed assets | 26 | €64,964 | €56,506 | -€8,457 | -13.0% |
| Current assets | 29/58 | €1,487,000 | €1,857,854 | +€370,854 | +24.9% |
| Amounts receivable after more than one year | 29 | €709,150 | €884,000 | +€174,850 | +24.7% |
| Other amounts receivable | 291 | €709,150 | €884,000 | +€174,850 | +24.7% |
| Amounts receivable within one year | 40/41 | €358,907 | €436,572 | +€77,665 | +21.6% |
| Trade receivables | 40 | €351,949 | €405,600 | +€53,651 | +15.2% |
| Other amounts receivable | 41 | €6,957 | €30,972 | +€24,014 | +345% |
| Current investments | 50/53 | €109,894 | €370,580 | +€260,686 | +237% |
| Cash at bank and in hand | 54/58 | €298,897 | €155,757 | -€143,139 | -47.9% |
| Deferred charges and accrued income | 490/1 | €10,153 | €10,945 | +€792 | +7.8% |
| Total equity and liabilities | 10/49 | €1,966,316 | €2,246,856 | +€280,540 | +14.3% |
| Equity | 10/15 | €917,894 | €883,000 | -€34,894 | -3.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €853,000 | €853,000 | = | 0.0% |
| Distributable reserves | 133 | €853,000 | €853,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,894 | - | -€34,894 | |
| Amounts payable | 17/49 | €1,048,422 | €1,363,856 | +€315,434 | +30.1% |
| Amounts payable after more than one year | 17 | €269,310 | €221,438 | -€47,872 | -17.8% |
| Financial debts | 170/4 | €269,310 | €221,438 | -€47,872 | -17.8% |
| Amounts payable within one year | 42/48 | €752,043 | €1,113,627 | +€361,584 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €47,065 | €47,872 | +€806 | +1.7% |
| Financial debts | 43 | €508,242 | €588,150 | +€79,908 | +15.7% |
| Other loans | 439 | €508,242 | €588,150 | +€79,908 | +15.7% |
| Trade debts | 44 | €17,023 | €31,080 | +€14,057 | +82.6% |
| Suppliers | 440/4 | €17,023 | €31,080 | +€14,057 | +82.6% |
| Taxes, remuneration and social security | 45 | €40,000 | €39,724 | -€276 | -0.7% |
| Taxes | 450/3 | €40,000 | €39,724 | -€276 | -0.7% |
| Other amounts payable | 47/48 | €139,714 | €406,802 | +€267,088 | +191% |
| Accrued charges and deferred income | 492/3 | €27,068 | €28,790 | +€1,722 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,990 | €90,314 | +€324 | +0.4% |
| Other operating charges | 640/8 | €1,255 | €1,620 | +€366 | +29.2% |
| Gross operating margin | 9900 | €586,570 | €675,902 | +€89,332 | +15.2% |
| Operating profit (loss) | 9901 | €495,325 | €583,967 | +€88,642 | +17.9% |
| Financial income | 75/76B | €20,768 | €29,841 | +€9,073 | +43.7% |
| Recurring financial income | 75 | €20,768 | €29,841 | +€9,073 | +43.7% |
| Financial charges | 65/66B | €29,902 | €33,956 | +€4,054 | +13.6% |
| Recurring financial charges | 65 | €29,902 | €33,956 | +€4,054 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €486,190 | €579,852 | +€93,662 | +19.3% |
| Income taxes | 67/77 | €135,553 | €143,601 | +€8,048 | +5.9% |
| Profit (loss) for the period | 9904 | €350,637 | €436,251 | +€85,614 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €350,637 | €436,251 | +€85,614 | +24.4% |
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 1 November 2026 via checked.be.