D'HOOGE: 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'HOOGE
Largest movements
- Cash -€21,938
down €21,938 (-18.6%), from €117,714 to €95,776
mainly Debts after one year (-€115,362) and Current portion of long-term debt (-€8,096)
- Tangible fixed assets -€17,249
down €17,249 (-19.9%), from €86,860 to €69,612
of which Furniture and vehicles: -€10,555
- Stocks and contracts -€16,161
down €16,161 (-13.2%), from €122,843 to €106,683
- Receivables within one year +€5,485
up €5,485 (+22.8%), from €24,025 to €29,509
of which Other amounts receivable: +€4,592
- Debts after one year -€115,362
down €115,362 (-90.4%), from €127,573 to €12,211
of which Trade debts: -€100,517
- Trade debts +€59,275
up €59,275 (+138%), from €42,881 to €102,157
- Reserves +€11,277
up €11,277 (+20.1%), from €56,154 to €67,431
- Current portion of long-term debt -€8,096
down €8,096 (-35.3%), from €22,941 to €14,845
- Gross operating margin -€69,648
down €69,648 (-25.1%), from €277,472 to €207,824
- Taxes -€19,857
down €19,857 (-72.5%), from €27,408 to €7,550
- Staff costs +€9,621
up €9,621 (+6.8%), from €140,987 to €150,608
- Financial charges -€2,828
down €2,828 (-17.3%), from €16,303 to €13,474
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 | €353,908 | €303,994 | -€49,914 | -14.1% |
| Fixed assets | 21/28 | €86,910 | €69,662 | -€17,249 | -19.8% |
| Tangible fixed assets | 22/27 | €86,860 | €69,612 | -€17,249 | -19.9% |
| Plant, machinery and equipment | 23 | €59,505 | €52,811 | -€6,694 | -11.2% |
| Furniture and vehicles | 24 | €27,355 | €16,801 | -€10,555 | -38.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €266,998 | €234,332 | -€32,666 | -12.2% |
| Stocks and contracts in progress | 3 | €122,843 | €106,683 | -€16,161 | -13.2% |
| Stocks | 30/36 | €122,843 | €106,683 | -€16,161 | -13.2% |
| Amounts receivable within one year | 40/41 | €24,025 | €29,509 | +€5,485 | +22.8% |
| Trade receivables | 40 | €17,691 | €18,584 | +€893 | +5.0% |
| Other amounts receivable | 41 | €6,334 | €10,926 | +€4,592 | +72.5% |
| Cash at bank and in hand | 54/58 | €117,714 | €95,776 | -€21,938 | -18.6% |
| Deferred charges and accrued income | 490/1 | €2,416 | €2,364 | -€51 | -2.1% |
| Total equity and liabilities | 10/49 | €353,908 | €303,994 | -€49,914 | -14.1% |
| Equity | 10/15 | €114,654 | €125,931 | +€11,277 | +9.8% |
| Contributions | 10/11 | €58,500 | €58,500 | = | 0.0% |
| Reserves | 13 | €56,154 | €67,431 | +€11,277 | +20.1% |
| Distributable reserves | 133 | €56,154 | €67,431 | +€11,277 | +20.1% |
| Amounts payable | 17/49 | €239,254 | €178,063 | -€61,191 | -25.6% |
| Amounts payable after more than one year | 17 | €127,573 | €12,211 | -€115,362 | -90.4% |
| Financial debts | 170/4 | €25,323 | €10,477 | -€14,845 | -58.6% |
| Trade debts | 175 | €102,251 | €1,734 | -€100,517 | -98.3% |
| Amounts payable within one year | 42/48 | €111,681 | €165,852 | +€54,171 | +48.5% |
| Current portion of amounts payable after more than one year | 42 | €22,941 | €14,845 | -€8,096 | -35.3% |
| Trade debts | 44 | €42,881 | €102,157 | +€59,275 | +138% |
| Suppliers | 440/4 | €42,881 | €102,157 | +€59,275 | +138% |
| Advances received on contracts in progress | 46 | €71 | - | -€71 | |
| Taxes, remuneration and social security | 45 | €41,637 | €42,870 | +€1,233 | +3.0% |
| Taxes | 450/3 | €22,883 | €22,408 | -€475 | -2.1% |
| Remuneration and social security | 454/9 | €18,754 | €20,462 | +€1,708 | +9.1% |
| Other amounts payable | 47/48 | €4,150 | €5,980 | +€1,830 | +44.1% |
| Remuneration, social security and pensions | 62 | €140,987 | €150,608 | +€9,621 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,975 | €20,809 | -€166 | -0.8% |
| Other operating charges | 640/8 | €4,002 | €4,106 | +€105 | +2.6% |
| Gross operating margin | 9900 | €277,472 | €207,824 | -€69,648 | -25.1% |
| Operating profit (loss) | 9901 | €111,509 | €32,301 | -€79,207 | -71.0% |
| Financial income | 75/76B | €241 | - | -€241 | |
| Recurring financial income | 75 | €241 | - | -€241 | |
| Financial charges | 65/66B | €16,303 | €13,474 | -€2,828 | -17.3% |
| Recurring financial charges | 65 | €16,303 | €13,474 | -€2,828 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €95,447 | €18,827 | -€76,620 | -80.3% |
| Income taxes | 67/77 | €27,408 | €7,550 | -€19,857 | -72.5% |
| Profit (loss) for the period | 9904 | €68,039 | €11,277 | -€56,762 | -83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,039 | €11,277 | -€56,762 | -83.4% |
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.