VAN HOE INTERNATIONAL: 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.
VAN HOE INTERNATIONAL
Largest movements
- Tangible fixed assets -€70,772
down €70,772 (-7.5%), from €947,260 to €876,488
of which Land and buildings: -€47,848
- Reserves -€22,259
down €22,259 (-3.0%), from €751,745 to €729,485
of which Tax-exempt reserves: -€45,255
- Other debts -€17,291
down €17,291 (-28.2%), from €61,256 to €43,964
- Provisions -€15,085
down €15,085 (-16.8%), from €89,919 to €74,834
- Other operating charges +€1,542
up €1,542 (+10.5%), from €14,658 to €16,200
- Gross operating margin -€1,444
down €1,444 (-2.2%), from €65,273 to €63,829
- Taxes -€1,218
down €1,218 (-7.9%), from €15,507 to €14,289
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 | €999,134 | €941,299 | -€57,835 | -5.8% |
| Fixed assets | 21/28 | €947,260 | €876,488 | -€70,772 | -7.5% |
| Tangible fixed assets | 22/27 | €947,260 | €876,488 | -€70,772 | -7.5% |
| Land and buildings | 22 | €861,091 | €813,243 | -€47,848 | -5.6% |
| Furniture and vehicles | 24 | €86,169 | €63,245 | -€22,924 | -26.6% |
| Current assets | 29/58 | €51,874 | €64,811 | +€12,937 | +24.9% |
| Amounts receivable within one year | 40/41 | €293 | €6,589 | +€6,295 | +2,147% |
| Trade receivables | 40 | €293 | €823 | +€530 | +181% |
| Other amounts receivable | 41 | €0 | €5,765 | +€5,765 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,983 | €56,529 | +€6,546 | +13.1% |
| Deferred charges and accrued income | 490/1 | €1,598 | €1,693 | +€95 | +6.0% |
| Total equity and liabilities | 10/49 | €999,134 | €941,299 | -€57,835 | -5.8% |
| Equity | 10/15 | €838,507 | €816,248 | -€22,259 | -2.7% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Capital | 10 | €86,763 | €86,763 | = | 0.0% |
| Issued capital | 100 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €751,745 | €729,485 | -€22,259 | -3.0% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Tax-exempt reserves | 132 | €341,059 | €295,804 | -€45,255 | -13.3% |
| Distributable reserves | 133 | €402,009 | €425,005 | +€22,996 | +5.7% |
| Provisions and deferred taxes | 16 | €89,919 | €74,834 | -€15,085 | -16.8% |
| Deferred taxes | 168 | €89,919 | €74,834 | -€15,085 | -16.8% |
| Amounts payable | 17/49 | €70,708 | €50,217 | -€20,491 | -29.0% |
| Amounts payable within one year | 42/48 | €63,570 | €46,817 | -€16,753 | -26.4% |
| Trade debts | 44 | €117 | €798 | +€681 | +585% |
| Suppliers | 440/4 | €117 | €798 | +€681 | +585% |
| Taxes, remuneration and social security | 45 | €2,198 | €2,055 | -€143 | -6.5% |
| Taxes | 450/3 | €2,198 | €2,055 | -€143 | -6.5% |
| Other amounts payable | 47/48 | €61,256 | €43,964 | -€17,291 | -28.2% |
| Accrued charges and deferred income | 492/3 | €7,138 | €3,400 | -€3,738 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,680 | €70,772 | +€92 | +0.1% |
| Other operating charges | 640/8 | €14,658 | €16,200 | +€1,542 | +10.5% |
| Gross operating margin | 9900 | €65,273 | €63,829 | -€1,444 | -2.2% |
| Operating profit (loss) | 9901 | -€20,065 | -€23,143 | -€3,077 | -15.3% |
| Financial income | 75/76B | €406 | €183 | -€223 | -54.9% |
| Recurring financial income | 75 | €406 | €183 | -€223 | -54.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €166 | €95 | -€71 | -42.7% |
| Recurring financial charges | 65 | €166 | €95 | -€71 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,826 | -€23,055 | -€3,229 | -16.3% |
| Transfer from deferred taxes | 780 | €15,085 | €15,085 | = | 0.0% |
| Income taxes | 67/77 | €15,507 | €14,289 | -€1,218 | -7.9% |
| Profit (loss) for the period | 9904 | -€20,248 | -€22,259 | -€2,012 | -9.9% |
| Transfer from tax-exempt reserves | 789 | €50,542 | €45,255 | -€5,287 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,294 | €22,996 | -€7,299 | -24.1% |
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 28 October 2026 via checked.be.