VANHOVE: what changed
What changed
VANHOVE
NACE 46.450, Wholesale of perfume and cosmetics
filed annual accounts (NBB)
Net result for the year
€4,913
2024 · €7,790-€2,877
Equity
€46,057
2024 · €41,143+€4,913
Cash
€11,661
2024 · €12,033-€372
Balance sheet total
€138,642
2024 · €148,431-€9,789
Largest movements
Assets
- Tangible fixed assets -€13,436
down €13,436 (-11.6%), from €115,737 to €102,302
of which Land and buildings: -€12,582
- Stocks and contracts +€7,039
up €7,039 (+83.9%), from €8,389 to €15,427
- Deferred charges and accrued income -€3,807
no longer reported in 2025 (was €3,807)
Equity and liabilities
- Profit (loss) carried forward +€10,363
up €10,363 (+36.5%), from -€28,367 to -€18,003
- Other debts -€5,704
down €5,704 (-10.3%), from €55,539 to €49,834
- Reserves -€5,450
down €5,450 (-10.7%), from €50,910 to €45,460
of which Tax-exempt reserves: -€5,450
- Trade debts -€4,651
down €4,651 (-59.1%), from €7,873 to €3,221
- Current portion of long-term debt -€3,060
no longer reported in 2025 (was €3,060)
Income statement
- Gross operating margin -€7,485
down €7,485 (-10.7%), from €69,970 to €62,486
- Depreciation -€6,933
down €6,933 (-34.0%), from €20,368 to €13,436
- Taxes +€3,779
up €3,779 (+863%), from €438 to €4,217
- Other operating charges -€1,134
down €1,134 (-29.9%), from €3,792 to €2,657
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€7,790
Gross operating margin
-€7,485
Staff costs
-€242
Depreciation
+€6,933
Other operating charges
+€1,134
Financial income
-€98
Financial charges
+€661
Taxes
-€3,779
Result 2025
€4,913
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2,688
Investment
€0
Financing
-€3,060
Cash 2024
€12,033
From operations (derived)
+€2,688
Net result for the year
+€4,913
Depreciation
+€13,436
Stocks and contracts
-€7,039
Receivables within one year
-€787
Deferred charges and accrued income
+€3,807
Provisions
-€2,806
Trade debts
-€4,651
Tax, wage and social debts
+€1,519
Other debts
-€5,704
Financing
-€3,060
Current portion of long-term debt
-€3,060
Cash 2025
€11,661
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,431 | €138,642 | -€9,789 | -6.6% |
| Fixed assets | 21/28 | €115,775 | €102,339 | -€13,436 | -11.6% |
| Tangible fixed assets | 22/27 | €115,737 | €102,302 | -€13,436 | -11.6% |
| Land and buildings | 22 | €114,884 | €102,302 | -€12,582 | -11.0% |
| Furniture and vehicles | 24 | €854 | - | -€854 | |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €32,656 | €36,303 | +€3,647 | +11.2% |
| Stocks and contracts in progress | 3 | €8,389 | €15,427 | +€7,039 | +83.9% |
| Stocks | 30/36 | €8,389 | €15,427 | +€7,039 | +83.9% |
| Amounts receivable within one year | 40/41 | €8,428 | €9,215 | +€787 | +9.3% |
| Trade receivables | 40 | €8,413 | €9,196 | +€783 | +9.3% |
| Other amounts receivable | 41 | €15 | €20 | +€4 | +27.1% |
| Cash at bank and in hand | 54/58 | €12,033 | €11,661 | -€372 | -3.1% |
| Deferred charges and accrued income | 490/1 | €3,807 | - | -€3,807 | |
| Total equity and liabilities | 10/49 | €148,431 | €138,642 | -€9,789 | -6.6% |
| Equity | 10/15 | €41,143 | €46,057 | +€4,913 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,910 | €45,460 | -€5,450 | -10.7% |
| Tax-exempt reserves | 132 | €49,050 | €43,600 | -€5,450 | -11.1% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,367 | -€18,003 | +€10,363 | +36.5% |
| Provisions and deferred taxes | 16 | €25,257 | €22,451 | -€2,806 | -11.1% |
| Deferred taxes | 168 | €25,257 | €22,451 | -€2,806 | -11.1% |
| Amounts payable | 17/49 | €82,031 | €70,135 | -€11,896 | -14.5% |
| Amounts payable within one year | 42/48 | €82,031 | €70,135 | -€11,896 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €3,060 | - | -€3,060 | |
| Trade debts | 44 | €7,873 | €3,221 | -€4,651 | -59.1% |
| Suppliers | 440/4 | €7,873 | €3,221 | -€4,651 | -59.1% |
| Taxes, remuneration and social security | 45 | €15,560 | €17,079 | +€1,519 | +9.8% |
| Taxes | 450/3 | €5,047 | €5,581 | +€534 | +10.6% |
| Remuneration and social security | 454/9 | €10,512 | €11,498 | +€986 | +9.4% |
| Other amounts payable | 47/48 | €55,539 | €49,834 | -€5,704 | -10.3% |
| Remuneration, social security and pensions | 62 | €39,416 | €39,658 | +€242 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,368 | €13,436 | -€6,933 | -34.0% |
| Other operating charges | 640/8 | €3,792 | €2,657 | -€1,134 | -29.9% |
| Gross operating margin | 9900 | €69,970 | €62,486 | -€7,485 | -10.7% |
| Operating profit (loss) | 9901 | €6,395 | €6,734 | +€340 | +5.3% |
| Financial income | 75/76B | €102 | €4 | -€98 | -96.5% |
| Recurring financial income | 75 | €102 | €4 | -€98 | -96.5% |
| Financial charges | 65/66B | €1,074 | €414 | -€661 | -61.5% |
| Recurring financial charges | 65 | €1,074 | €414 | -€661 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | €5,422 | €6,324 | +€902 | +16.6% |
| Transfer from deferred taxes | 780 | €2,806 | €2,806 | = | 0.0% |
| Income taxes | 67/77 | €438 | €4,217 | +€3,779 | +863% |
| Profit (loss) for the period | 9904 | €7,790 | €4,913 | -€2,877 | -36.9% |
| Transfer from tax-exempt reserves | 789 | €5,450 | €5,450 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,240 | €10,363 | -€2,877 | -21.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.