VAN HOORENBEECK: 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 HOORENBEECK
Largest movements
- Cash -€19,565
down €19,565 (-86.4%), from €22,648 to €3,083
mainly Investment in fixed assets (net) (-€46,017) and Debts after one year (-€20,252)
- Tangible fixed assets +€13,919
up €13,919 (+3.5%), from €400,500 to €414,419
of which Furniture and vehicles: +€35,670
- Receivables within one year +€10,086
up €10,086 (+45.7%), from €22,085 to €32,171
of which Trade receivables: +€10,375
- Short-term financial debts +€35,880
up €35,880 (+23.0%), from €156,051 to €191,931
of which Other loans: +€35,280
- Debts after one year -€20,252
down €20,252 (-67.6%), from €29,947 to €9,695
- Tax, wage and social debts -€13,903
down €13,903 (-41.9%), from €33,153 to €19,250
- Gross operating margin -€59,849
down €59,849 (-58.5%), from €102,316 to €42,467
- Staff costs -€21,328
down €21,328 (-99.5%), from €21,429 to €101
- Taxes -€15,147
down €15,147 (-88.1%), from €17,198 to €2,052
- Depreciation +€4,858
up €4,858 (+17.8%), from €27,239 to €32,098
- Financial charges -€2,084
down €2,084 (-41.8%), from €4,983 to €2,898
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 | €445,286 | €449,849 | +€4,563 | +1.0% |
| Fixed assets | 21/28 | €400,500 | €414,419 | +€13,919 | +3.5% |
| Tangible fixed assets | 22/27 | €400,500 | €414,419 | +€13,919 | +3.5% |
| Land and buildings | 22 | €382,708 | €361,633 | -€21,075 | -5.5% |
| Plant, machinery and equipment | 23 | €15,847 | €15,172 | -€675 | -4.3% |
| Furniture and vehicles | 24 | €1,945 | €37,614 | +€35,670 | +1,834% |
| Current assets | 29/58 | €44,786 | €35,430 | -€9,356 | -20.9% |
| Amounts receivable within one year | 40/41 | €22,085 | €32,171 | +€10,086 | +45.7% |
| Trade receivables | 40 | €20,840 | €31,214 | +€10,375 | +49.8% |
| Other amounts receivable | 41 | €1,246 | €957 | -€289 | -23.2% |
| Cash at bank and in hand | 54/58 | €22,648 | €3,083 | -€19,565 | -86.4% |
| Deferred charges and accrued income | 490/1 | €52 | €176 | +€123 | +235% |
| Total equity and liabilities | 10/49 | €445,286 | €449,849 | +€4,563 | +1.0% |
| Equity | 10/15 | €171,425 | €173,050 | +€1,626 | +0.9% |
| Contributions | 10/11 | €98,600 | €98,600 | = | 0.0% |
| Reserves | 13 | €72,825 | €74,450 | +€1,626 | +2.2% |
| Distributable reserves | 133 | €72,825 | €74,450 | +€1,626 | +2.2% |
| Amounts payable | 17/49 | €273,861 | €276,799 | +€2,938 | +1.1% |
| Amounts payable after more than one year | 17 | €29,947 | €9,695 | -€20,252 | -67.6% |
| Financial debts | 170/4 | €29,947 | €9,695 | -€20,252 | -67.6% |
| Amounts payable within one year | 42/48 | €213,238 | €236,427 | +€23,189 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €16,357 | €18,728 | +€2,372 | +14.5% |
| Financial debts | 43 | €156,051 | €191,931 | +€35,880 | +23.0% |
| Credit institutions | 430/8 | €1,448 | €2,048 | +€600 | +41.5% |
| Other loans | 439 | €154,603 | €189,883 | +€35,280 | +22.8% |
| Trade debts | 44 | €7,677 | €6,518 | -€1,159 | -15.1% |
| Suppliers | 440/4 | €7,677 | €6,518 | -€1,159 | -15.1% |
| Taxes, remuneration and social security | 45 | €33,153 | €19,250 | -€13,903 | -41.9% |
| Taxes | 450/3 | €33,153 | €19,250 | -€13,903 | -41.9% |
| Accrued charges and deferred income | 492/3 | €30,677 | €30,677 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €21,429 | €101 | -€21,328 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,239 | €32,098 | +€4,858 | +17.8% |
| Other operating charges | 640/8 | €3,362 | €3,693 | +€331 | +9.8% |
| Gross operating margin | 9900 | €102,316 | €42,467 | -€59,849 | -58.5% |
| Operating profit (loss) | 9901 | €50,286 | €6,576 | -€43,710 | -86.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +467% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +467% |
| Financial charges | 65/66B | €4,983 | €2,898 | -€2,084 | -41.8% |
| Recurring financial charges | 65 | €4,983 | €2,898 | -€2,084 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €45,303 | €3,677 | -€41,626 | -91.9% |
| Income taxes | 67/77 | €17,198 | €2,052 | -€15,147 | -88.1% |
| Profit (loss) for the period | 9904 | €28,105 | €1,626 | -€26,479 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,105 | €1,626 | -€26,479 | -94.2% |
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 14 October 2026 via checked.be.