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
- Receivables within one year -€64,365
down €64,365 (-20.2%), from €319,310 to €254,945
of which Trade receivables: -€67,479
- Tangible fixed assets +€25,259
up €25,259 (+2.1%), from €1.2m to €1.2m
of which Leasing and similar rights: +€54,253
- Cash -€22,362
down €22,362 (-6.7%), from €332,464 to €310,102
mainly Investment in fixed assets (net) (-€379,631) and Other debts (-€181,551)
- Other debts -€181,551
down €181,551 (-49.7%), from €365,267 to €183,715
- Reserves +€169,181
up €169,181 (+136.7%), from €123,736 to €292,918
- Trade debts -€65,118
down €65,118 (-32.1%), from €202,878 to €137,760
- Current portion of long-term debt +€33,913
up €33,913 (+11.4%), from €297,376 to €331,290
- Gross operating margin +€157,809
up €157,809 (+14.2%), from €1.1m to €1.3m
- Taxes +€51,045
up €51,045 (+261.1%), from €19,547 to €70,593
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 | €1,853,670 | €1,798,606 | -€55,064 | -3.0% |
| Fixed assets | 21/28 | €1,175,237 | €1,200,496 | +€25,259 | +2.1% |
| Tangible fixed assets | 22/27 | €1,175,237 | €1,200,496 | +€25,259 | +2.1% |
| Land and buildings | 22 | €268,808 | €250,849 | -€17,959 | -6.7% |
| Plant, machinery and equipment | 23 | €8,897 | €8,978 | +€81 | +0.9% |
| Furniture and vehicles | 24 | €68,060 | €56,944 | -€11,116 | -16.3% |
| Leasing and similar rights | 25 | €829,472 | €883,725 | +€54,253 | +6.5% |
| Current assets | 29/58 | €678,432 | €598,109 | -€80,323 | -11.8% |
| Amounts receivable within one year | 40/41 | €319,310 | €254,945 | -€64,365 | -20.2% |
| Trade receivables | 40 | €319,310 | €251,830 | -€67,479 | -21.1% |
| Other amounts receivable | 41 | - | €3,115 | +€3,115 | |
| Cash at bank and in hand | 54/58 | €332,464 | €310,102 | -€22,362 | -6.7% |
| Deferred charges and accrued income | 490/1 | €26,658 | €33,062 | +€6,404 | +24.0% |
| Total equity and liabilities | 10/49 | €1,853,670 | €1,798,606 | -€55,064 | -3.0% |
| Equity | 10/15 | €143,736 | €312,918 | +€169,181 | +117.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €123,736 | €292,918 | +€169,181 | +136.7% |
| Distributable reserves | 133 | €123,736 | €292,918 | +€169,181 | +136.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,709,934 | €1,485,688 | -€224,245 | -13.1% |
| Amounts payable after more than one year | 17 | €718,636 | €722,951 | +€4,315 | +0.6% |
| Financial debts | 170/4 | €718,636 | €722,951 | +€4,315 | +0.6% |
| Amounts payable within one year | 42/48 | €991,298 | €762,737 | -€228,560 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €297,376 | €331,290 | +€33,913 | +11.4% |
| Trade debts | 44 | €202,878 | €137,760 | -€65,118 | -32.1% |
| Suppliers | 440/4 | €202,878 | €137,760 | -€65,118 | -32.1% |
| Taxes, remuneration and social security | 45 | €125,777 | €109,972 | -€15,805 | -12.6% |
| Taxes | 450/3 | €44,092 | €30,369 | -€13,723 | -31.1% |
| Remuneration and social security | 454/9 | €81,685 | €79,603 | -€2,082 | -2.5% |
| Other amounts payable | 47/48 | €365,267 | €183,715 | -€181,551 | -49.7% |
| Remuneration, social security and pensions | 62 | €623,712 | €632,882 | +€9,170 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €357,342 | €354,373 | -€2,969 | -0.8% |
| Other operating charges | 640/8 | €5,173 | €0 | -€5,173 | -100.0% |
| Gross operating margin | 9900 | €1,112,300 | €1,270,109 | +€157,809 | +14.2% |
| Operating profit (loss) | 9901 | €126,073 | €282,855 | +€156,782 | +124.4% |
| Financial income | 75/76B | €0 | €74 | +€74 | |
| Recurring financial income | 75 | €0 | €74 | +€74 | |
| Financial charges | 65/66B | €25,629 | €31,390 | +€5,761 | +22.5% |
| Recurring financial charges | 65 | €25,629 | €31,390 | +€5,761 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €100,444 | €251,539 | +€151,095 | +150.4% |
| Income taxes | 67/77 | €19,547 | €70,593 | +€51,045 | +261.1% |
| Profit (loss) for the period | 9904 | €80,896 | €180,946 | +€100,050 | +123.7% |
| Profit (loss) for the period to be appropriated | 9905 | €80,896 | €180,946 | +€100,050 | +123.7% |
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 11 October 2026 via checked.be.