VAN HOYE: what changed
Two fiscal 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 HOYE
Largest movements
- Tangible fixed assets +€48,637
up €48,637 (+31.8%), from €152,881 to €201,518
of which Land and buildings: +€49,199
- Cash -€41,846
down €41,846 (-78.3%), from €53,439 to €11,593
mainly Investment in fixed assets (net) (-€54,830) and Debts after one year (-€25,496)
- Stocks and contracts +€6,483
up €6,483 (+2.5%), from €256,894 to €263,377
- Reserves +€36,778
up €36,778 (+15.1%), from €243,115 to €279,893
of which Distributable reserves: +€36,778
- Debts after one year -€25,496
down €25,496 (-50.5%), from €50,496 to €25,000
- Trade debts -€9,188
down €9,188 (-93.8%), from €9,794 to €606
- Tax, wage and social debts +€8,168
up €8,168 (+80.6%), from €10,139 to €18,307
of which Taxes: +€6,835
- Gross operating margin +€88,184
up €88,184 (+2872.0%), from €3,070 to €91,254
- Staff costs +€10,134
up €10,134 (+29.5%), from €34,387 to €44,521
- Financial income -€8,917
down €8,917 (-58.0%), from €15,366 to €6,449
- Financial charges -€2,223
down €2,223 (-27.7%), from €8,028 to €5,805
- Write-downs +€2,154
up €2,154, from -€2,154 to €0
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 | €519,595 | €530,108 | +€10,513 | +2.0% |
| Fixed assets | 21/28 | €153,902 | €202,540 | +€48,637 | +31.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €152,881 | €201,518 | +€48,637 | +31.8% |
| Land and buildings | 22 | €143,223 | €192,421 | +€49,199 | +34.4% |
| Plant, machinery and equipment | 23 | €9,658 | €9,097 | -€561 | -5.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,022 | €1,022 | = | 0.0% |
| Current assets | 29/58 | €365,692 | €327,568 | -€38,124 | -10.4% |
| Stocks and contracts in progress | 3 | €256,894 | €263,377 | +€6,483 | +2.5% |
| Stocks | 30/36 | €256,894 | €263,377 | +€6,483 | +2.5% |
| Amounts receivable within one year | 40/41 | €52,744 | €50,328 | -€2,415 | -4.6% |
| Trade receivables | 40 | €14,665 | €12,250 | -€2,415 | -16.5% |
| Other amounts receivable | 41 | €38,078 | €38,078 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,439 | €11,593 | -€41,846 | -78.3% |
| Deferred charges and accrued income | 490/1 | €2,616 | €2,270 | -€346 | -13.2% |
| Total equity and liabilities | 10/49 | €519,595 | €530,108 | +€10,513 | +2.0% |
| Equity | 10/15 | €305,115 | €341,893 | +€36,778 | +12.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €243,115 | €279,893 | +€36,778 | +15.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,629 | €34,629 | = | 0.0% |
| Distributable reserves | 133 | €202,286 | €239,065 | +€36,778 | +18.2% |
| Amounts payable | 17/49 | €214,480 | €188,215 | -€26,265 | -12.2% |
| Amounts payable after more than one year | 17 | €50,496 | €25,000 | -€25,496 | -50.5% |
| Financial debts | 170/4 | €50,496 | €25,000 | -€25,496 | -50.5% |
| Amounts payable within one year | 42/48 | €163,984 | €163,215 | -€769 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €20,245 | €20,496 | +€251 | +1.2% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €9,794 | €606 | -€9,188 | -93.8% |
| Suppliers | 440/4 | €9,794 | €606 | -€9,188 | -93.8% |
| Taxes, remuneration and social security | 45 | €10,139 | €18,307 | +€8,168 | +80.6% |
| Taxes | 450/3 | €6,274 | €13,109 | +€6,835 | +108.9% |
| Remuneration and social security | 454/9 | €3,865 | €5,198 | +€1,333 | +34.5% |
| Other amounts payable | 47/48 | €23,806 | €23,806 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €34,387 | €44,521 | +€10,134 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,915 | €6,192 | +€278 | +4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,154 | €0 | +€2,154 | |
| Other operating charges | 640/8 | €5,951 | €4,359 | -€1,592 | -26.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €3,070 | €91,254 | +€88,184 | +2872.0% |
| Operating profit (loss) | 9901 | -€41,029 | €36,181 | +€77,211 | |
| Financial income | 75/76B | €15,366 | €6,449 | -€8,917 | -58.0% |
| Recurring financial income | 75 | €15,366 | €6,449 | -€8,917 | -58.0% |
| Financial charges | 65/66B | €8,028 | €5,805 | -€2,223 | -27.7% |
| Recurring financial charges | 65 | €8,028 | €5,805 | -€2,223 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,692 | €36,825 | +€70,517 | |
| Income taxes | 67/77 | €0 | €47 | +€47 | |
| Profit (loss) for the period | 9904 | -€33,692 | €36,778 | +€70,471 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,692 | €36,778 | +€70,471 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.