D'HOGRO: 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.
D'HOGRO
Largest movements
- Current investments -€60,000
down €60,000 (-100%), from €60,000 to €0
- Cash +€30,497
up €30,497 (+46.4%), from €65,781 to €96,279
mainly Other debts (+€82,919) and Current investments (+€60,000)
- Tangible fixed assets -€16,328
down €16,328 (-9.8%), from €166,886 to €150,558
of which Furniture and vehicles: -€26,291
- Receivables within one year +€11,232
up €11,232 (+28.7%), from €39,075 to €50,308
of which Trade receivables: +€10,441
- Stocks and contracts -€3,472
down €3,472 (-66.9%), from €5,188 to €1,716
- Reserves -€90,876
down €90,876 (-38.2%), from €237,909 to €147,033
of which Distributable reserves: -€90,876
- Other debts +€82,919
up €82,919 (+1,032%), from €8,035 to €90,955
- Debts after one year -€19,602
down €19,602 (-32.6%), from €60,161 to €40,559
- Current portion of long-term debt -€5,830
down €5,830 (-22.9%), from €25,433 to €19,602
- Gross operating margin -€47,401
down €47,401 (-59.1%), from €80,161 to €32,761
- Taxes -€15,043
down €15,043 (-98.3%), from €15,307 to €264
- Financial income +€4,483
up €4,483 (+256%), from €1,752 to €6,235
of which Non-recurring financial income: +€4,761
- Depreciation -€1,184
down €1,184 (-3.7%), from €32,094 to €30,909
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.
Derived cash bridge
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 | €345,041 | €308,581 | -€36,460 | -10.6% |
| Fixed assets | 21/28 | €170,102 | €155,775 | -€14,328 | -8.4% |
| Tangible fixed assets | 22/27 | €166,886 | €150,558 | -€16,328 | -9.8% |
| Land and buildings | 22 | €90,606 | €86,222 | -€4,383 | -4.8% |
| Plant, machinery and equipment | 23 | €22,216 | €36,564 | +€14,347 | +64.6% |
| Furniture and vehicles | 24 | €54,064 | €27,773 | -€26,291 | -48.6% |
| Financial fixed assets | 28 | €3,216 | €5,216 | +€2,000 | +62.2% |
| Current assets | 29/58 | €174,939 | €152,806 | -€22,132 | -12.7% |
| Stocks and contracts in progress | 3 | €5,188 | €1,716 | -€3,472 | -66.9% |
| Stocks | 30/36 | €5,188 | €1,716 | -€3,472 | -66.9% |
| Amounts receivable within one year | 40/41 | €39,075 | €50,308 | +€11,232 | +28.7% |
| Trade receivables | 40 | €24,599 | €35,039 | +€10,441 | +42.4% |
| Other amounts receivable | 41 | €14,477 | €15,268 | +€792 | +5.5% |
| Current investments | 50/53 | €60,000 | €0 | -€60,000 | -100% |
| Cash at bank and in hand | 54/58 | €65,781 | €96,279 | +€30,497 | +46.4% |
| Deferred charges and accrued income | 490/1 | €4,894 | €4,504 | -€390 | -8.0% |
| Total equity and liabilities | 10/49 | €345,041 | €308,581 | -€36,460 | -10.6% |
| Equity | 10/15 | €244,109 | €153,233 | -€90,876 | -37.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €237,909 | €147,033 | -€90,876 | -38.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €219,159 | €128,283 | -€90,876 | -41.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €100,932 | €155,348 | +€54,416 | +53.9% |
| Amounts payable after more than one year | 17 | €60,161 | €40,559 | -€19,602 | -32.6% |
| Financial debts | 170/4 | €60,161 | €40,559 | -€19,602 | -32.6% |
| Amounts payable within one year | 42/48 | €37,865 | €111,884 | +€74,019 | +195% |
| Current portion of amounts payable after more than one year | 42 | €25,433 | €19,602 | -€5,830 | -22.9% |
| Trade debts | 44 | €4,179 | €859 | -€3,320 | -79.4% |
| Suppliers | 440/4 | €4,179 | €859 | -€3,320 | -79.4% |
| Taxes, remuneration and social security | 45 | €218 | €467 | +€250 | +115% |
| Taxes | 450/3 | €218 | €467 | +€250 | +115% |
| Other amounts payable | 47/48 | €8,035 | €90,955 | +€82,919 | +1,032% |
| Accrued charges and deferred income | 492/3 | €2,906 | €2,906 | = | 0.0% |
| Non-recurring operating income | 76A | €248 | €0 | -€248 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,094 | €30,909 | -€1,184 | -3.7% |
| Other operating charges | 640/8 | €6,893 | €6,976 | +€83 | +1.2% |
| Gross operating margin | 9900 | €80,161 | €32,761 | -€47,401 | -59.1% |
| Operating profit (loss) | 9901 | €41,175 | -€5,124 | -€46,299 | |
| Financial income | 75/76B | €1,752 | €6,235 | +€4,483 | +256% |
| Recurring financial income | 75 | €1,752 | €1,474 | -€278 | -15.9% |
| Non-recurring financial income | 76B | - | €4,761 | +€4,761 | |
| Financial charges | 65/66B | €1,728 | €2,401 | +€672 | +38.9% |
| Recurring financial charges | 65 | €1,728 | €2,401 | +€672 | +38.9% |
| Profit (loss) for the period before taxes | 9903 | €41,198 | -€1,290 | -€42,489 | |
| Income taxes | 67/77 | €15,307 | €264 | -€15,043 | -98.3% |
| Profit (loss) for the period | 9904 | €25,891 | -€1,555 | -€27,446 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,891 | -€1,555 | -€27,446 |
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 15 October 2026 via checked.be.