VAN HOE PRODUCTS: 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 PRODUCTS
Largest movements
- Tangible fixed assets -€28,928
down €28,928 (-5.5%), from €529,128 to €500,200
of which Land and buildings: -€23,123
- Cash -€15,462
down €15,462 (-65.1%), from €23,735 to €8,272
mainly Current portion of long-term debt (-€29,768) and Net result for the year (-€26,183)
- Current portion of long-term debt -€29,768
down €29,768 (-85.1%), from €34,975 to €5,206
- Profit (loss) carried forward -€26,183
down €26,183 (-52.7%), from -€49,702 to -€75,886
- Trade debts +€13,605
up €13,605 (+361%), from €3,766 to €17,371
- Gross operating margin -€15,447
down €15,447 (-38.1%), from €40,517 to €25,070
- Financial charges -€3,890
down €3,890 (-21.7%), from €17,906 to €14,016
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 | €887,631 | €839,405 | -€48,226 | -5.4% |
| Fixed assets | 21/28 | €739,838 | €710,909 | -€28,928 | -3.9% |
| Tangible fixed assets | 22/27 | €529,128 | €500,200 | -€28,928 | -5.5% |
| Land and buildings | 22 | €482,818 | €459,695 | -€23,123 | -4.8% |
| Plant, machinery and equipment | 23 | €46,127 | €40,505 | -€5,622 | -12.2% |
| Furniture and vehicles | 24 | €183 | - | -€183 | |
| Financial fixed assets | 28 | €210,710 | €210,710 | = | 0.0% |
| Current assets | 29/58 | €147,793 | €128,496 | -€19,298 | -13.1% |
| Stocks and contracts in progress | 3 | €116,941 | €113,407 | -€3,533 | -3.0% |
| Stocks | 30/36 | €116,941 | €113,407 | -€3,533 | -3.0% |
| Amounts receivable within one year | 40/41 | €7,118 | €6,816 | -€302 | -4.2% |
| Trade receivables | 40 | €7,118 | €6,798 | -€320 | -4.5% |
| Other amounts receivable | 41 | - | €18 | +€18 | |
| Cash at bank and in hand | 54/58 | €23,735 | €8,272 | -€15,462 | -65.1% |
| Total equity and liabilities | 10/49 | €887,631 | €839,405 | -€48,226 | -5.4% |
| Equity | 10/15 | €600,298 | €574,114 | -€26,183 | -4.4% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,702 | -€75,886 | -€26,183 | -52.7% |
| Amounts payable | 17/49 | €287,334 | €265,291 | -€22,043 | -7.7% |
| Amounts payable after more than one year | 17 | €95,117 | €89,911 | -€5,206 | -5.5% |
| Financial debts | 170/4 | €95,117 | €89,911 | -€5,206 | -5.5% |
| Amounts payable within one year | 42/48 | €184,922 | €167,848 | -€17,074 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €34,975 | €5,206 | -€29,768 | -85.1% |
| Financial debts | 43 | €140,000 | €140,000 | = | 0.0% |
| Credit institutions | 430/8 | €140,000 | €140,000 | = | 0.0% |
| Trade debts | 44 | €3,766 | €17,371 | +€13,605 | +361% |
| Suppliers | 440/4 | €3,766 | €17,371 | +€13,605 | +361% |
| Taxes, remuneration and social security | 45 | €6,155 | €5,271 | -€885 | -14.4% |
| Taxes | 450/3 | €6,155 | €5,271 | -€885 | -14.4% |
| Other amounts payable | 47/48 | €26 | - | -€26 | |
| Accrued charges and deferred income | 492/3 | €7,294 | €7,532 | +€237 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,883 | €28,928 | +€46 | +0.2% |
| Other operating charges | 640/8 | €8,190 | €8,423 | +€233 | +2.8% |
| Gross operating margin | 9900 | €40,517 | €25,070 | -€15,447 | -38.1% |
| Operating profit (loss) | 9901 | €3,444 | -€12,281 | -€15,725 | |
| Financial income | 75/76B | €61 | €129 | +€68 | +111% |
| Recurring financial income | 75 | €61 | €129 | +€68 | +111% |
| Financial charges | 65/66B | €17,906 | €14,016 | -€3,890 | -21.7% |
| Recurring financial charges | 65 | €17,906 | €14,016 | -€3,890 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,401 | -€26,168 | -€11,767 | -81.7% |
| Income taxes | 67/77 | €18 | €15 | -€3 | -17.7% |
| Profit (loss) for the period | 9904 | -€14,419 | -€26,183 | -€11,764 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,419 | -€26,183 | -€11,764 | -81.6% |
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 27 October 2026 via checked.be.