VAN HOVE: 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 HOVE
Largest movements
- Stocks and contracts -€859,832
down €859,832 (-66.8%), from €1.3m to €428,224
- Cash -€287,303
down €287,303 (-94.0%), from €305,577 to €18,274
mainly Current portion of long-term debt (-€583,321) and Other debts (-€550,196)
- Receivables within one year -€116,353
down €116,353 (-27.2%), from €428,101 to €311,748
of which Other amounts receivable: -€70,488
- Tangible fixed assets -€54,983
down €54,983 (-3.2%), from €1.7m to €1.7m
of which Land and buildings: -€27,825
- Current portion of long-term debt -€583,321
down €583,321 (-43.3%), from €1.3m to €762,302
- Other debts -€550,196
down €550,196 (-84.6%), from €650,196 to €100,000
- Trade debts -€375,220
down €375,220 (-57.4%), from €653,501 to €278,281
- Short-term financial debts +€178,232
up €178,232 (+1,327%), from €13,435 to €191,667
- Accrued charges and deferred income +€115,447
up €115,447 (+294%), from €39,204 to €154,651
- Gross operating margin +€283,256
up €283,256 (+111%), from €254,128 to €537,384
- Taxes +€101,465
up €101,465 (+568%), from €17,874 to €119,339
- Financial charges -€35,660
down €35,660 (-37.6%), from €94,937 to €59,277
- Other operating charges +€10,431
up €10,431 (+84.7%), from €12,321 to €22,752
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 | €3,789,900 | €2,493,670 | -€1.3m | -34.2% |
| Fixed assets | 21/28 | €1,738,438 | €1,683,455 | -€54,983 | -3.2% |
| Tangible fixed assets | 22/27 | €1,738,376 | €1,683,393 | -€54,983 | -3.2% |
| Land and buildings | 22 | €1,650,137 | €1,622,311 | -€27,825 | -1.7% |
| Plant, machinery and equipment | 23 | €1,216 | €1,023 | -€194 | -15.9% |
| Furniture and vehicles | 24 | €87,023 | €60,059 | -€26,964 | -31.0% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €2,051,462 | €810,215 | -€1.2m | -60.5% |
| Stocks and contracts in progress | 3 | €1,288,056 | €428,224 | -€859,832 | -66.8% |
| Stocks | 30/36 | €1,288,056 | €428,224 | -€859,832 | -66.8% |
| Amounts receivable within one year | 40/41 | €428,101 | €311,748 | -€116,353 | -27.2% |
| Trade receivables | 40 | €357,614 | €311,748 | -€45,865 | -12.8% |
| Other amounts receivable | 41 | €70,488 | - | -€70,488 | |
| Cash at bank and in hand | 54/58 | €305,577 | €18,274 | -€287,303 | -94.0% |
| Deferred charges and accrued income | 490/1 | €29,728 | €51,969 | +€22,241 | +74.8% |
| Total equity and liabilities | 10/49 | €3,789,900 | €2,493,670 | -€1.3m | -34.2% |
| Equity | 10/15 | €620,716 | €658,209 | +€37,493 | +6.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €520,716 | €558,209 | +€37,493 | +7.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €75,000 | €75,000 | = | 0.0% |
| Distributable reserves | 133 | €435,716 | €473,209 | +€37,493 | +8.6% |
| Amounts payable | 17/49 | €3,169,185 | €1,835,462 | -€1.3m | -42.1% |
| Amounts payable after more than one year | 17 | €363,043 | €315,741 | -€47,302 | -13.0% |
| Financial debts | 170/4 | €363,043 | €315,741 | -€47,302 | -13.0% |
| Amounts payable within one year | 42/48 | €2,766,937 | €1,365,070 | -€1.4m | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €1,345,624 | €762,302 | -€583,321 | -43.3% |
| Financial debts | 43 | €13,435 | €191,667 | +€178,232 | +1,327% |
| Credit institutions | 430/8 | €13,435 | €191,667 | +€178,232 | +1,327% |
| Trade debts | 44 | €653,501 | €278,281 | -€375,220 | -57.4% |
| Suppliers | 440/4 | €653,501 | €278,281 | -€375,220 | -57.4% |
| Taxes, remuneration and social security | 45 | €104,182 | €32,819 | -€71,362 | -68.5% |
| Taxes | 450/3 | €104,182 | €32,819 | -€71,362 | -68.5% |
| Other amounts payable | 47/48 | €650,196 | €100,000 | -€550,196 | -84.6% |
| Accrued charges and deferred income | 492/3 | €39,204 | €154,651 | +€115,447 | +294% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,995 | €80,804 | -€3,191 | -3.8% |
| Other operating charges | 640/8 | €12,321 | €22,752 | +€10,431 | +84.7% |
| Gross operating margin | 9900 | €254,128 | €537,384 | +€283,256 | +111% |
| Operating profit (loss) | 9901 | €157,812 | €433,829 | +€276,016 | +175% |
| Financial income | 75/76B | €7 | €59 | +€52 | +761% |
| Recurring financial income | 75 | €7 | €59 | +€52 | +761% |
| Financial charges | 65/66B | €94,937 | €59,277 | -€35,660 | -37.6% |
| Recurring financial charges | 65 | €94,937 | €59,277 | -€35,660 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €62,882 | €374,610 | +€311,728 | +496% |
| Income taxes | 67/77 | €17,874 | €119,339 | +€101,465 | +568% |
| Profit (loss) for the period | 9904 | €45,008 | €255,271 | +€210,263 | +467% |
| Profit (loss) for the period to be appropriated | 9905 | €45,008 | €255,271 | +€210,263 | +467% |
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.