Van Hove Projects: 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 Projects
Largest movements
- Tangible fixed assets -€398,562
down €398,562 (-95.3%), from €418,336 to €19,774
of which Assets under construction and advance payments: -€200,418
- Receivables within one year +€66,592
up €66,592 (+344.7%), from €19,316 to €85,908
of which Trade receivables: +€56,739
- Stocks and contracts +€36,274
new in 2025: €36,274
- Cash +€16,541
up €16,541 (+59.7%), from €27,698 to €44,239
mainly Investment in fixed assets (net) (+€393,893) and Trade debts (+€24,952)
- Deferred charges and accrued income +€5,271
new in 2025: €5,271
- Short-term financial debts -€280,000
down €280,000 (-100.0%), from €280,000 to €0
- Trade debts +€24,952
up €24,952 (+71.8%), from €34,740 to €59,693
- Other debts -€23,030
down €23,030 (-48.4%), from €47,603 to €24,573
- Profit (loss) carried forward +€13,146
up €13,146 (+441.8%), from €2,975 to €16,122
- Tax, wage and social debts -€7,051
down €7,051 (-34.5%), from €20,446 to €13,395
of which Remuneration and social security: -€5,721
- Gross operating margin +€17,840
up €17,840 (+75.6%), from €23,608 to €41,448
- Financial charges +€8,094
up €8,094 (+85.7%), from €9,448 to €17,542
- Depreciation -€4,418
down €4,418 (-48.6%), from €9,087 to €4,669
- Taxes +€2,146
up €2,146 (+122.6%), from €1,750 to €3,896
- Other operating charges +€2,136
up €2,136 (+500.3%), from €427 to €2,563
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 | €465,350 | €191,465 | -€273,884 | -58.9% |
| Fixed assets | 21/28 | €418,336 | €19,774 | -€398,562 | -95.3% |
| Tangible fixed assets | 22/27 | €418,336 | €19,774 | -€398,562 | -95.3% |
| Land and buildings | 22 | €196,639 | €1,894 | -€194,745 | -99.0% |
| Plant, machinery and equipment | 23 | €21,279 | €16,879 | -€4,400 | -20.7% |
| Furniture and vehicles | 24 | - | €1,002 | +€1,002 | |
| Assets under construction and advance payments | 27 | €200,418 | €0 | -€200,418 | -100.0% |
| Current assets | 29/58 | €47,014 | €171,691 | +€124,677 | +265.2% |
| Stocks and contracts in progress | 3 | - | €36,274 | +€36,274 | |
| Contracts in progress | 37 | - | €36,274 | +€36,274 | |
| Amounts receivable within one year | 40/41 | €19,316 | €85,908 | +€66,592 | +344.7% |
| Trade receivables | 40 | €15,584 | €72,324 | +€56,739 | +364.1% |
| Other amounts receivable | 41 | €3,732 | €13,584 | +€9,852 | +264.0% |
| Cash at bank and in hand | 54/58 | €27,698 | €44,239 | +€16,541 | +59.7% |
| Deferred charges and accrued income | 490/1 | - | €5,271 | +€5,271 | |
| Total equity and liabilities | 10/49 | €465,350 | €191,465 | -€273,884 | -58.9% |
| Equity | 10/15 | €59,975 | €73,122 | +€13,146 | +21.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €47,000 | €47,000 | = | 0.0% |
| Distributable reserves | 133 | €47,000 | €47,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,975 | €16,122 | +€13,146 | +441.8% |
| Amounts payable | 17/49 | €405,374 | €118,344 | -€287,030 | -70.8% |
| Amounts payable after more than one year | 17 | €17,597 | €13,362 | -€4,236 | -24.1% |
| Financial debts | 170/4 | €17,597 | €13,362 | -€4,236 | -24.1% |
| Amounts payable within one year | 42/48 | €386,860 | €101,897 | -€284,963 | -73.7% |
| Current portion of amounts payable after more than one year | 42 | €4,071 | €4,236 | +€165 | +4.1% |
| Financial debts | 43 | €280,000 | €0 | -€280,000 | -100.0% |
| Credit institutions | 430/8 | €280,000 | €0 | -€280,000 | -100.0% |
| Trade debts | 44 | €34,740 | €59,693 | +€24,952 | +71.8% |
| Suppliers | 440/4 | €34,740 | €59,693 | +€24,952 | +71.8% |
| Taxes, remuneration and social security | 45 | €20,446 | €13,395 | -€7,051 | -34.5% |
| Taxes | 450/3 | €14,725 | €13,395 | -€1,329 | -9.0% |
| Remuneration and social security | 454/9 | €5,721 | €0 | -€5,721 | -100.0% |
| Other amounts payable | 47/48 | €47,603 | €24,573 | -€23,030 | -48.4% |
| Accrued charges and deferred income | 492/3 | €917 | €3,085 | +€2,168 | +236.5% |
| Non-recurring operating income | 76A | - | €32,801 | +€32,801 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,087 | €4,669 | -€4,418 | -48.6% |
| Other operating charges | 640/8 | €427 | €2,563 | +€2,136 | +500.3% |
| Gross operating margin | 9900 | €23,608 | €41,448 | +€17,840 | +75.6% |
| Operating profit (loss) | 9901 | €14,094 | €34,216 | +€20,122 | +142.8% |
| Financial income | 75/76B | €22 | €368 | +€345 | +1544.0% |
| Recurring financial income | 75 | €22 | €368 | +€345 | +1544.0% |
| Financial charges | 65/66B | €9,448 | €17,542 | +€8,094 | +85.7% |
| Recurring financial charges | 65 | €9,448 | €17,542 | +€8,094 | +85.7% |
| Profit (loss) for the period before taxes | 9903 | €4,669 | €17,042 | +€12,373 | +265.0% |
| Income taxes | 67/77 | €1,750 | €3,896 | +€2,146 | +122.6% |
| Profit (loss) for the period | 9904 | €2,918 | €13,146 | +€10,228 | +350.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,918 | €13,146 | +€10,228 | +350.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.