VAN HOORDE: 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.
VAN HOORDE
Largest movements
- Tangible fixed assets -€106,528
down €106,528 (-4.2%), from €2.6m to €2.4m
of which Land and buildings: -€80,227
- Receivables within one year -€55,723
down €55,723 (-66.8%), from €83,466 to €27,744
of which Trade receivables: -€62,899
- Profit (loss) carried forward -€178,338
down €178,338 (-4.7%), from -€3.8m to -€4.0m
- Other debts +€76,923
up €76,923 (+1.4%), from €5.4m to €5.5m
- Gross operating margin +€40,941
up €40,941 (+48.0%), from -€85,344 to -€44,403
- Other operating charges -€2,353
down €2,353 (-22.0%), from €10,689 to €8,335
- Depreciation -€1,015
down €1,015 (-0.8%), from €121,437 to €120,422
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,714,640 | €4,582,214 | -€132,426 | -2.8% |
| Fixed assets | 21/28 | €4,557,630 | €4,451,102 | -€106,528 | -2.3% |
| Tangible fixed assets | 22/27 | €2,555,063 | €2,448,535 | -€106,528 | -4.2% |
| Land and buildings | 22 | €2,480,637 | €2,400,409 | -€80,227 | -3.2% |
| Plant, machinery and equipment | 23 | €26,346 | €16,734 | -€9,612 | -36.5% |
| Furniture and vehicles | 24 | €48,080 | €31,392 | -€16,689 | -34.7% |
| Financial fixed assets | 28 | €2,002,567 | €2,002,567 | = | 0.0% |
| Current assets | 29/58 | €157,010 | €131,111 | -€25,899 | -16.5% |
| Amounts receivable within one year | 40/41 | €83,466 | €27,744 | -€55,723 | -66.8% |
| Trade receivables | 40 | €72,845 | €9,946 | -€62,899 | -86.3% |
| Other amounts receivable | 41 | €10,622 | €17,798 | +€7,176 | +67.6% |
| Cash at bank and in hand | 54/58 | €52,316 | €79,955 | +€27,638 | +52.8% |
| Deferred charges and accrued income | 490/1 | €21,227 | €23,413 | +€2,186 | +10.3% |
| Total equity and liabilities | 10/49 | €4,714,640 | €4,582,214 | -€132,426 | -2.8% |
| Equity | 10/15 | -€805,315 | -€983,653 | -€178,338 | -22.1% |
| Contributions | 10/11 | €3,018,600 | €3,018,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,823,915 | -€4,002,253 | -€178,338 | -4.7% |
| Amounts payable | 17/49 | €5,519,954 | €5,565,866 | +€45,912 | +0.8% |
| Amounts payable within one year | 42/48 | €5,517,793 | €5,563,286 | +€45,493 | +0.8% |
| Trade debts | 44 | €82,773 | €54,049 | -€28,723 | -34.7% |
| Suppliers | 440/4 | €82,773 | €54,049 | -€28,723 | -34.7% |
| Taxes, remuneration and social security | 45 | €2,707 | - | -€2,707 | |
| Taxes | 450/3 | €2,707 | - | -€2,707 | |
| Other amounts payable | 47/48 | €5,432,314 | €5,509,236 | +€76,923 | +1.4% |
| Accrued charges and deferred income | 492/3 | €2,161 | €2,580 | +€419 | +19.4% |
| Non-recurring operating income | 76A | €1,853 | €59,117 | +€57,264 | +3090.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,437 | €120,422 | -€1,015 | -0.8% |
| Other operating charges | 640/8 | €10,689 | €8,335 | -€2,353 | -22.0% |
| Gross operating margin | 9900 | -€85,344 | -€44,403 | +€40,941 | +48.0% |
| Operating profit (loss) | 9901 | -€217,469 | -€173,160 | +€44,309 | +20.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -14.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -14.3% |
| Financial charges | 65/66B | €4,558 | €4,322 | -€236 | -5.2% |
| Recurring financial charges | 65 | €4,558 | €4,322 | -€236 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | -€222,027 | -€177,482 | +€44,545 | +20.1% |
| Income taxes | 67/77 | €1,565 | €856 | -€709 | -45.3% |
| Profit (loss) for the period | 9904 | -€223,592 | -€178,338 | +€45,254 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€223,592 | -€178,338 | +€45,254 | +20.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.