VAN HOECKE: what changed
Two fiscal 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
VAN HOECKE
NACE 46.841, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.6m
2024 · €4.1m+€1.5m
Equity
€57.1m
2024 · €55.0m+€2.1m
Cash
€18.0m
2024 · €12.5m+€5.5m
Balance sheet total
€75.3m
2024 · €70.9m+€4.4m
Largest movements
Assets
- Cash +€5.5m
up €5.5m (+44.0%), from €12.5m to €18.0m
mainly Net result for the year (+€5.6m) and Other debts (+€3.5m)
- Tangible fixed assets -€2.1m
down €2.1m (-5.8%), from €36.8m to €34.7m
of which Land and buildings: -€1.5m
Equity and liabilities
- Other debts +€3.5m
new in 2025: €3.5m
- Reserves +€2.1m
up €2.1m (+10.4%), from €20.6m to €22.8m
of which Distributable reserves: +€2.1m
- Trade debts -€794,283
down €794,283 (-7.0%), from €11.3m to €10.5m
Income statement
- Turnover +€5.9m
up €5.9m (+4.6%), from €127.1m to €133.0m
- Goods and materials +€4.7m
up €4.7m (+5.3%), from €87.9m to €92.6m
of which Purchases: +€5.8m
- Services and other goods -€2.7m
down €2.7m (-13.0%), from €20.5m to €17.9m
- Depreciation +€1.5m
up €1.5m (+79.6%), from €1.8m to €3.3m
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
€4.1m
Turnover
+€5.9m
Other operating income
+€727,961
Goods and materials
-€4.7m
Services and other goods
+€2.7m
Staff costs
-€908,274
Depreciation
-€1.5m
Write-downs
+€34,222
Other operating charges
-€124,493
Other operating items
-€9,882
Financial income
+€1,623
Financial charges
-€46,915
Taxes
-€537,092
Deferred taxes and other
+€2,681
Result 2025
€5.6m
Cash bridge derived
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
+€11.3m
Investment
-€1.5m
Financing
-€4.2m
Cash 2024
€12.5m
From operations (derived)
+€11.3m
Net result for the year
+€5.6m
Depreciation
+€3.3m
Stocks and contracts
-€62,273
Receivables within one year
-€667,843
Deferred charges and accrued income
+€16,460
Provisions
-€453
Trade debts
-€794,283
Tax, wage and social debts
+€300,837
Other debts
+€3.5m
Accrued charges and deferred income
+€16,890
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
-€4.2m
Debts after one year
-€740,714
Contributions, distributions and other
-€3.5m
Cash 2025
€18.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,870,410 | €75,289,802 | +€4.4m | +6.2% |
| Fixed assets | 21/28 | €39,659,531 | €37,884,139 | -€1.8m | -4.5% |
| Intangible fixed assets | 21 | €2,811,412 | €3,150,235 | +€338,823 | +12.1% |
| Tangible fixed assets | 22/27 | €36,847,182 | €34,713,987 | -€2.1m | -5.8% |
| Land and buildings | 22 | €33,903,267 | €32,432,750 | -€1.5m | -4.3% |
| Plant, machinery and equipment | 23 | €2,337,324 | €1,876,744 | -€460,580 | -19.7% |
| Furniture and vehicles | 24 | €606,591 | €404,493 | -€202,098 | -33.3% |
| Financial fixed assets | 28 | €937 | €19,917 | +€18,980 | +2024.6% |
| Other financial fixed assets | 284/8 | €937 | €19,917 | +€18,980 | +2024.6% |
| Amounts receivable and cash guarantees | 285/8 | €937 | €19,917 | +€18,980 | +2024.6% |
| Current assets | 29/58 | €31,210,879 | €37,405,663 | +€6.2m | +19.8% |
| Stocks and contracts in progress | 3 | €6,921,280 | €6,983,553 | +€62,273 | +0.9% |
| Stocks | 30/36 | €6,921,280 | €6,983,553 | +€62,273 | +0.9% |
| Goods purchased for resale | 34 | €6,921,280 | €6,983,553 | +€62,273 | +0.9% |
| Amounts receivable within one year | 40/41 | €11,367,812 | €12,035,655 | +€667,843 | +5.9% |
| Trade receivables | 40 | €11,036,324 | €12,016,082 | +€979,758 | +8.9% |
| Other amounts receivable | 41 | €331,488 | €19,573 | -€311,915 | -94.1% |
| Cash at bank and in hand | 54/58 | €12,469,729 | €17,950,858 | +€5.5m | +44.0% |
| Deferred charges and accrued income | 490/1 | €452,058 | €435,597 | -€16,460 | -3.6% |
| Total equity and liabilities | 10/49 | €70,870,410 | €75,289,802 | +€4.4m | +6.2% |
| Equity | 10/15 | €54,977,931 | €57,115,046 | +€2.1m | +3.9% |
| Contributions | 10/11 | €34,337,451 | €34,337,451 | = | 0.0% |
| Capital | 10 | €853,936 | €853,936 | = | 0.0% |
| Issued capital | 100 | €853,936 | €853,936 | = | 0.0% |
| Outside capital | 11 | €33,483,515 | €33,483,515 | = | 0.0% |
| Share premium | 1100/10 | €33,483,515 | €33,483,515 | = | 0.0% |
| Reserves | 13 | €20,633,824 | €22,773,260 | +€2.1m | +10.4% |
| Non-distributable reserves | 130/1 | €85,394 | €85,394 | = | 0.0% |
| Legal reserve | 130 | €85,394 | €85,394 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,430 | €44,866 | -€7,564 | -14.4% |
| Distributable reserves | 133 | €20,496,000 | €22,643,000 | +€2.1m | +10.5% |
| Profit (loss) carried forward | 14 | €459 | €876 | +€417 | +90.8% |
| Investment grants | 15 | €6,197 | €3,459 | -€2,737 | -44.2% |
| Provisions and deferred taxes | 16 | €15,536 | €15,083 | -€453 | -2.9% |
| Deferred taxes | 168 | €15,536 | €15,083 | -€453 | -2.9% |
| Amounts payable | 17/49 | €15,876,944 | €18,159,673 | +€2.3m | +14.4% |
| Amounts payable after more than one year | 17 | €740,714 | €0 | -€740,714 | -100.0% |
| Financial debts | 170/4 | €740,714 | €0 | -€740,714 | -100.0% |
| Credit institutions | 173 | €740,714 | €0 | -€740,714 | -100.0% |
| Amounts payable within one year | 42/48 | €15,085,701 | €18,092,254 | +€3.0m | +19.9% |
| Trade debts | 44 | €11,286,167 | €10,491,883 | -€794,283 | -7.0% |
| Suppliers | 440/4 | €11,286,167 | €10,491,883 | -€794,283 | -7.0% |
| Taxes, remuneration and social security | 45 | €3,799,534 | €4,100,371 | +€300,837 | +7.9% |
| Taxes | 450/3 | €1,221,722 | €1,657,601 | +€435,879 | +35.7% |
| Remuneration and social security | 454/9 | €2,577,812 | €2,442,770 | -€135,042 | -5.2% |
| Other amounts payable | 47/48 | - | €3,500,000 | +€3.5m | |
| Accrued charges and deferred income | 492/3 | €50,528 | €67,418 | +€16,890 | +33.4% |
| Operating income | 70/76A | €129,413,750 | €136,014,530 | +€6.6m | +5.1% |
| Turnover | 70 | €127,096,694 | €132,981,001 | +€5.9m | +4.6% |
| Other operating income | 74 | €2,268,482 | €2,996,442 | +€727,961 | +32.1% |
| Non-recurring operating income | 76A | €48,575 | €37,086 | -€11,488 | -23.7% |
| Operating charges | 60/66A | €122,606,978 | €127,096,016 | +€4.5m | +3.7% |
| Goods for resale, raw materials and consumables | 60 | €87,918,180 | €92,602,914 | +€4.7m | +5.3% |
| Purchases | 600/8 | €86,886,372 | €92,665,187 | +€5.8m | +6.7% |
| Change in stocks: decrease (increase) | 609 | €1,031,808 | -€62,273 | -€1.1m | |
| Services and other goods | 61 | €20,510,763 | €17,850,572 | -€2.7m | -13.0% |
| Remuneration, social security and pensions | 62 | €12,231,150 | €13,139,424 | +€908,274 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,843,107 | €3,310,663 | +€1.5m | +79.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €67,263 | €33,042 | -€34,222 | -50.9% |
| Other operating charges | 640/8 | €34,908 | €159,401 | +€124,493 | +356.6% |
| Non-recurring operating charges | 66A | €1,607 | €0 | -€1,607 | -100.0% |
| Operating profit (loss) | 9901 | €6,806,772 | €8,918,514 | +€2.1m | +31.0% |
| Financial income | 75/76B | €58,343 | €59,966 | +€1,623 | +2.8% |
| Recurring financial income | 75 | €58,343 | €59,966 | +€1,623 | +2.8% |
| Other financial income | 752/9 | €58,343 | €59,966 | +€1,623 | +2.8% |
| Financial charges | 65/66B | €1,443,938 | €1,490,853 | +€46,915 | +3.2% |
| Recurring financial charges | 65 | €1,443,938 | €1,490,853 | +€46,915 | +3.2% |
| Debt charges | 650 | €146,776 | €154,583 | +€7,807 | +5.3% |
| Other financial charges | 652/9 | €1,297,163 | €1,336,270 | +€39,107 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €5,421,177 | €7,487,628 | +€2.1m | +38.1% |
| Transfer from deferred taxes | 780 | €4,208 | €4,501 | +€293 | +7.0% |
| Transfer to deferred taxes | 680 | €6,436 | €4,049 | -€2,388 | -37.1% |
| Income taxes | 67/77 | €1,311,136 | €1,848,228 | +€537,092 | +41.0% |
| Taxes | 670/3 | €1,311,136 | €1,848,228 | +€537,092 | +41.0% |
| Profit (loss) for the period | 9904 | €4,107,813 | €5,639,853 | +€1.5m | +37.3% |
| Transfer from tax-exempt reserves | 789 | €11,387 | €19,709 | +€8,323 | +73.1% |
| Transfer to tax-exempt reserves | 689 | €19,309 | €12,146 | -€7,163 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,099,891 | €5,647,417 | +€1.5m | +37.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.