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.
Van Hoecke
Largest movements
- Tangible fixed assets -€50,712
down €50,712 (-8.2%), from €620,314 to €569,602
of which Land and buildings: -€27,923
- Cash +€14,533
up €14,533 (+3.2%), from €452,227 to €466,760
mainly Net result for the year (+€61,471) and Depreciation (+€60,594)
- Reserves -€56,553
down €56,553 (-4.7%), from €1.2m to €1.1m
- Trade debts +€21,349
up €21,349 (+30.0%), from €71,087 to €92,435
- Gross operating margin +€32,059
up €32,059 (+8.6%), from €374,386 to €406,445
- Financial income -€16,709
down €16,709 (-75.2%), from €22,229 to €5,519
- Taxes +€11,430
up €11,430 (+50.0%), from €22,860 to €34,290
- Financial charges +€6,670
up €6,670 (+378%), from €1,766 to €8,436
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 | €1,374,798 | €1,338,811 | -€35,987 | -2.6% |
| Fixed assets | 21/28 | €620,484 | €569,772 | -€50,712 | -8.2% |
| Tangible fixed assets | 22/27 | €620,314 | €569,602 | -€50,712 | -8.2% |
| Land and buildings | 22 | €474,014 | €446,091 | -€27,923 | -5.9% |
| Plant, machinery and equipment | 23 | €142,046 | €120,225 | -€21,821 | -15.4% |
| Furniture and vehicles | 24 | €3,244 | €3,286 | +€42 | +1.3% |
| Other tangible fixed assets | 26 | €1,010 | €0 | -€1,010 | -100% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €754,314 | €769,039 | +€14,725 | +2.0% |
| Amounts receivable within one year | 40/41 | €287,564 | €291,084 | +€3,520 | +1.2% |
| Trade receivables | 40 | €191,630 | €200,950 | +€9,320 | +4.9% |
| Other amounts receivable | 41 | €95,934 | €90,134 | -€5,800 | -6.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €452,227 | €466,760 | +€14,533 | +3.2% |
| Deferred charges and accrued income | 490/1 | €14,524 | €11,196 | -€3,328 | -22.9% |
| Total equity and liabilities | 10/49 | €1,374,798 | €1,338,811 | -€35,987 | -2.6% |
| Equity | 10/15 | €1,285,157 | €1,228,605 | -€56,553 | -4.4% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €1,197,467 | €1,140,914 | -€56,553 | -4.7% |
| Distributable reserves | 133 | €1,197,467 | €1,140,914 | -€56,553 | -4.7% |
| Profit (loss) carried forward | 14 | €928 | €928 | = | 0.0% |
| Amounts payable | 17/49 | €89,641 | €110,207 | +€20,566 | +22.9% |
| Amounts payable within one year | 42/48 | €88,752 | €107,124 | +€18,373 | +20.7% |
| Trade debts | 44 | €71,087 | €92,435 | +€21,349 | +30.0% |
| Suppliers | 440/4 | €71,087 | €92,435 | +€21,349 | +30.0% |
| Taxes, remuneration and social security | 45 | €17,665 | €14,689 | -€2,976 | -16.8% |
| Taxes | 450/3 | €8,860 | €14,689 | +€5,829 | +65.8% |
| Remuneration and social security | 454/9 | €8,805 | €0 | -€8,805 | -100% |
| Accrued charges and deferred income | 492/3 | €889 | €3,083 | +€2,193 | +247% |
| Remuneration, social security and pensions | 62 | €228,178 | €230,403 | +€2,226 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,262 | €60,594 | -€1,668 | -2.7% |
| Other operating charges | 640/8 | €15,740 | €15,969 | +€229 | +1.5% |
| Non-recurring operating charges | 66A | €13,519 | €802 | -€12,717 | -94.1% |
| Gross operating margin | 9900 | €374,386 | €406,445 | +€32,059 | +8.6% |
| Operating profit (loss) | 9901 | €54,687 | €98,677 | +€43,990 | +80.4% |
| Financial income | 75/76B | €22,229 | €5,519 | -€16,709 | -75.2% |
| Recurring financial income | 75 | €22,229 | €5,519 | -€16,709 | -75.2% |
| Financial charges | 65/66B | €1,766 | €8,436 | +€6,670 | +378% |
| Recurring financial charges | 65 | €1,766 | €8,436 | +€6,670 | +378% |
| Profit (loss) for the period before taxes | 9903 | €75,150 | €95,761 | +€20,611 | +27.4% |
| Income taxes | 67/77 | €22,860 | €34,290 | +€11,430 | +50.0% |
| Profit (loss) for the period | 9904 | €52,290 | €61,471 | +€9,181 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,290 | €61,471 | +€9,181 | +17.6% |
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 17 October 2026 via checked.be.