VAN HOYDONCK: 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.
What changed
VAN HOYDONCK
NACE 46.212, Wholesale trade
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€427,417
2025 · -€381,299+€808,717
Equity
€2.9m
2025 · €2.5m+€427,417
Cash
€238,396
2025 · €203,560+€34,836
Balance sheet total
€8.0m
2025 · €7.4m+€670,784
Largest movements
Assets
- Receivables within one year +€962,043
up €962,043 (+30.9%), from €3.1m to €4.1m
of which Trade receivables: +€960,800
- Stocks and contracts -€249,590
down €249,590 (-95.2%), from €262,226 to €12,636
- Tangible fixed assets -€126,840
down €126,840 (-3.6%), from €3.5m to €3.4m
of which Furniture and vehicles: -€186,733
Equity and liabilities
- Profit (loss) carried forward +€436,544
up €436,544, from -€373,071 to €63,473
- Accrued charges and deferred income +€94,550
up €94,550 (+428%), from €22,067 to €116,617
Income statement
- Turnover -€13.5m
down €13.5m (-38.1%), from €35.5m to €22.0m
- Goods and materials -€9.4m
down €9.4m (-34.1%), from €27.7m to €18.3m
of which Purchases: -€9.4m
- Services and other goods -€4.1m
down €4.1m (-61.0%), from €6.7m to €2.6m
- Staff costs -€716,865
down €716,865 (-46.1%), from €1.6m to €839,268
From the 2025 result to the 2026 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.
Result 2025
-€381,299
Turnover
-€13.5m
Other operating income
-€116,434
Goods and materials
+€9.4m
Services and other goods
+€4.1m
Staff costs
+€716,865
Depreciation
+€183,856
Provisions
-€50,000
Other operating charges
+€65,899
Other operating items
-€247,375
Financial income
-€35,827
Financial charges
+€336,545
Taxes
-€28,067
Deferred taxes and other
+€1,982
Result 2026
€427,417
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€372,570
Investment
-€316,188
Financing
-€21,546
Cash 2025
€203,560
From operations (derived)
+€372,570
Net result for the year
+€427,417
Depreciation
+€417,911
Stocks and contracts
+€249,590
Receivables within one year
-€962,043
Deferred charges and accrued income
-€25,218
Provisions
+€46,958
Trade debts
+€57,498
Tax, wage and social debts
+€22,365
Other debts
+€43,542
Accrued charges and deferred income
+€94,550
Investment (derived)
-€316,188
Investment in fixed assets (net)
-€316,188
Financing
-€21,546
Debts after one year
-€11,129
Current portion of long-term debt
-€10,418
Cash 2026
€238,396
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,354,055 | €8,024,838 | +€670,784 | +9.1% |
| Fixed assets | 21/28 | €3,760,129 | €3,658,405 | -€101,724 | -2.7% |
| Intangible fixed assets | 21 | €52,416 | €77,748 | +€25,332 | +48.3% |
| Tangible fixed assets | 22/27 | €3,529,609 | €3,402,768 | -€126,840 | -3.6% |
| Land and buildings | 22 | €1,498,353 | €1,494,413 | -€3,940 | -0.3% |
| Plant, machinery and equipment | 23 | €30,826 | €19,928 | -€10,898 | -35.4% |
| Furniture and vehicles | 24 | €283,061 | €96,327 | -€186,733 | -66.0% |
| Leasing and similar rights | 25 | €601,997 | €678,949 | +€76,951 | +12.8% |
| Other tangible fixed assets | 26 | €1,115,372 | €1,113,152 | -€2,220 | -0.2% |
| Financial fixed assets | 28 | €178,104 | €177,889 | -€215 | -0.1% |
| Affiliated companies | 280/1 | €80,000 | €80,000 | = | 0.0% |
| Participating interests | 280 | €80,000 | €80,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €98,104 | €97,889 | -€215 | -0.2% |
| Shares | 284 | €96,844 | €96,844 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,260 | €1,045 | -€215 | -17.1% |
| Current assets | 29/58 | €3,593,926 | €4,366,433 | +€772,507 | +21.5% |
| Stocks and contracts in progress | 3 | €262,226 | €12,636 | -€249,590 | -95.2% |
| Stocks | 30/36 | €262,226 | €12,636 | -€249,590 | -95.2% |
| Work in progress | 32 | €246,678 | - | -€246,678 | |
| Goods purchased for resale | 34 | €15,548 | €12,636 | -€2,912 | -18.7% |
| Amounts receivable within one year | 40/41 | €3,112,296 | €4,074,339 | +€962,043 | +30.9% |
| Trade receivables | 40 | €2,708,047 | €3,668,847 | +€960,800 | +35.5% |
| Other amounts receivable | 41 | €404,249 | €405,492 | +€1,243 | +0.3% |
| Cash at bank and in hand | 54/58 | €203,560 | €238,396 | +€34,836 | +17.1% |
| Deferred charges and accrued income | 490/1 | €15,844 | €41,062 | +€25,218 | +159% |
| Total equity and liabilities | 10/49 | €7,354,055 | €8,024,838 | +€670,784 | +9.1% |
| Equity | 10/15 | €2,508,660 | €2,936,078 | +€427,417 | +17.0% |
| Contributions | 10/11 | €265,000 | €265,000 | = | 0.0% |
| Capital | 10 | €265,000 | €265,000 | = | 0.0% |
| Issued capital | 100 | €265,000 | €265,000 | = | 0.0% |
| Reserves | 13 | €2,616,731 | €2,607,605 | -€9,127 | -0.3% |
| Non-distributable reserves | 130/1 | €26,500 | €26,500 | = | 0.0% |
| Legal reserve | 130 | €26,500 | €26,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €690,231 | €681,105 | -€9,127 | -1.3% |
| Distributable reserves | 133 | €1,900,000 | €1,900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€373,071 | €63,473 | +€436,544 | |
| Provisions and deferred taxes | 16 | €3,042 | €50,000 | +€46,958 | +1,544% |
| Provisions for liabilities and charges | 160/5 | - | €50,000 | +€50,000 | |
| Other liabilities and charges | 164/5 | - | €50,000 | +€50,000 | |
| Deferred taxes | 168 | €3,042 | - | -€3,042 | |
| Amounts payable | 17/49 | €4,842,352 | €5,038,760 | +€196,408 | +4.1% |
| Amounts payable after more than one year | 17 | €831,006 | €819,877 | -€11,129 | -1.3% |
| Financial debts | 170/4 | €809,488 | €801,500 | -€7,989 | -1.0% |
| Leasing and similar obligations | 172 | €391,192 | €379,927 | -€11,265 | -2.9% |
| Credit institutions | 173 | €268,296 | €171,572 | -€96,724 | -36.1% |
| Other loans | 174 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Other amounts payable | 178/9 | €21,517 | €18,377 | -€3,140 | -14.6% |
| Amounts payable within one year | 42/48 | €3,989,279 | €4,102,266 | +€112,987 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €341,639 | €331,221 | -€10,418 | -3.0% |
| Financial debts | 43 | €2,600,000 | €2,600,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,600,000 | €2,600,000 | = | 0.0% |
| Trade debts | 44 | €933,132 | €990,630 | +€57,498 | +6.2% |
| Suppliers | 440/4 | €933,132 | €990,630 | +€57,498 | +6.2% |
| Taxes, remuneration and social security | 45 | €107,653 | €130,018 | +€22,365 | +20.8% |
| Taxes | 450/3 | €22,155 | €40,480 | +€18,324 | +82.7% |
| Remuneration and social security | 454/9 | €85,497 | €89,538 | +€4,041 | +4.7% |
| Other amounts payable | 47/48 | €6,856 | €50,398 | +€43,542 | +635% |
| Accrued charges and deferred income | 492/3 | €22,067 | €116,617 | +€94,550 | +428% |
| Operating income | 70/76A | €44,250,059 | €22,789,799 | -€21.5m | -48.5% |
| Turnover | 70 | €35,543,930 | €22,005,968 | -€13.5m | -38.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€84,411 | -€246,678 | -€162,267 | -192% |
| Other operating income | 74 | €1,060,766 | €944,332 | -€116,434 | -11.0% |
| Non-recurring operating income | 76A | €7,729,775 | €86,177 | -€7.6m | -98.9% |
| Operating charges | 60/66A | €44,229,248 | €22,234,904 | -€22.0m | -49.7% |
| Goods for resale, raw materials and consumables | 60 | €27,731,828 | €18,282,032 | -€9.4m | -34.1% |
| Purchases | 600/8 | €27,720,025 | €18,279,120 | -€9.4m | -34.1% |
| Change in stocks: decrease (increase) | 609 | €11,804 | €2,912 | -€8,892 | -75.3% |
| Services and other goods | 61 | €6,673,167 | €2,603,729 | -€4.1m | -61.0% |
| Remuneration, social security and pensions | 62 | €1,556,132 | €839,268 | -€716,865 | -46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €601,767 | €417,911 | -€183,856 | -30.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,000 | +€50,000 | |
| Other operating charges | 640/8 | €107,863 | €41,964 | -€65,899 | -61.1% |
| Non-recurring operating charges | 66A | €7,558,490 | - | -€7.6m | |
| Operating profit (loss) | 9901 | €20,811 | €554,895 | +€534,084 | +2,566% |
| Financial income | 75/76B | €85,965 | €50,138 | -€35,827 | -41.7% |
| Recurring financial income | 75 | €85,965 | €50,138 | -€35,827 | -41.7% |
| Income from financial fixed assets | 750 | €11,847 | €17,643 | +€5,796 | +48.9% |
| Income from current assets | 751 | €64,376 | €32,438 | -€31,939 | -49.6% |
| Other financial income | 752/9 | €9,742 | €57 | -€9,685 | -99.4% |
| Financial charges | 65/66B | €486,887 | €150,342 | -€336,545 | -69.1% |
| Recurring financial charges | 65 | €486,887 | €150,342 | -€336,545 | -69.1% |
| Debt charges | 650 | €404,910 | €140,228 | -€264,682 | -65.4% |
| Other financial charges | 652/9 | €81,977 | €10,114 | -€71,863 | -87.7% |
| Profit (loss) for the period before taxes | 9903 | -€380,111 | €454,691 | +€834,802 | |
| Transfer from deferred taxes | 780 | €1,060 | €3,042 | +€1,982 | +187% |
| Income taxes | 67/77 | €2,249 | €30,316 | +€28,067 | +1,248% |
| Taxes | 670/3 | €2,249 | €30,316 | +€28,067 | +1,248% |
| Profit (loss) for the period | 9904 | -€381,299 | €427,417 | +€808,717 | |
| Transfer from tax-exempt reserves | 789 | €3,181 | €9,127 | +€5,946 | +187% |
| Profit (loss) for the period to be appropriated | 9905 | -€378,119 | €436,544 | +€814,663 |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.