DE 2 HOEFIJZERS: 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
DE 2 HOEFIJZERS
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€41,768
2024 · -€3,545-€38,223
Equity
€1.4m
2024 · €1.4m-€41,768
Cash
€4,425
2024 · €4,744-€319
Balance sheet total
€2.3m
2024 · €2.4m-€121,359
Largest movements
Assets
- Deferred charges and accrued income +€222,397
up €222,397 (+3,569%), from €6,231 to €228,627
- Receivables within one year -€220,000
down €220,000 (-97.0%), from €226,731 to €6,731
- Tangible fixed assets -€124,380
down €124,380 (-5.8%), from €2.2m to €2.0m
Equity and liabilities
- Other debts -€88,080
down €88,080 (-10.4%), from €848,897 to €760,816
Income statement
- Gross operating margin +€208,374
up €208,374 (+168%), from €124,101 to €332,475
- Depreciation +€26,836
up €26,836 (+25.2%), from €106,557 to €133,393
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.
Result 2024
-€3,545
Gross operating margin
+€208,374
Depreciation
-€26,836
Other operating charges
+€18
Other operating items
-€220,000
Financial income
+€50
Financial charges
+€171
Result 2025
-€41,768
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9,637
Investment
-€9,956
Financing
€0
Cash 2024
€4,744
From operations (derived)
+€9,637
Net result for the year
-€41,768
Depreciation
+€133,393
Receivables within one year
+€220,000
Deferred charges and accrued income
-€222,397
Provisions
-€9,237
Trade debts
+€1,630
Other debts
-€88,080
Accrued charges and deferred income
+€16,097
Investment (derived)
-€9,956
Investment in fixed assets (net)
-€9,014
Current investments
-€943
Cash 2025
€4,425
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,398,019 | €2,276,660 | -€121,359 | -5.1% |
| Fixed assets | 21/28 | €2,157,258 | €2,032,878 | -€124,380 | -5.8% |
| Tangible fixed assets | 22/27 | €2,157,258 | €2,032,878 | -€124,380 | -5.8% |
| Land and buildings | 22 | €2,157,258 | €2,032,878 | -€124,380 | -5.8% |
| Current assets | 29/58 | €240,761 | €243,781 | +€3,021 | +1.3% |
| Amounts receivable within one year | 40/41 | €226,731 | €6,731 | -€220,000 | -97.0% |
| Other amounts receivable | 41 | €226,731 | €6,731 | -€220,000 | -97.0% |
| Current investments | 50/53 | €3,055 | €3,998 | +€943 | +30.9% |
| Cash at bank and in hand | 54/58 | €4,744 | €4,425 | -€319 | -6.7% |
| Deferred charges and accrued income | 490/1 | €6,231 | €228,627 | +€222,397 | +3,569% |
| Total equity and liabilities | 10/49 | €2,398,019 | €2,276,660 | -€121,359 | -5.1% |
| Equity | 10/15 | €1,426,293 | €1,384,525 | -€41,768 | -2.9% |
| Contributions | 10/11 | €1,502,863 | €1,502,863 | = | 0.0% |
| Capital | 10 | €1,502,863 | €1,502,863 | = | 0.0% |
| Issued capital | 100 | €1,502,863 | €1,502,863 | = | 0.0% |
| Reserves | 13 | €209,264 | €191,333 | -€17,932 | -8.6% |
| Non-distributable reserves | 130/1 | €1,816 | €1,816 | = | 0.0% |
| Legal reserve | 130 | €1,816 | €1,816 | = | 0.0% |
| Tax-exempt reserves | 132 | €191,627 | €173,696 | -€17,932 | -9.4% |
| Distributable reserves | 133 | €15,821 | €15,821 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€285,834 | -€309,671 | -€23,837 | -8.3% |
| Provisions and deferred taxes | 16 | €102,000 | €92,763 | -€9,237 | -9.1% |
| Deferred taxes | 168 | €102,000 | €92,763 | -€9,237 | -9.1% |
| Amounts payable | 17/49 | €869,726 | €799,372 | -€70,354 | -8.1% |
| Amounts payable within one year | 42/48 | €853,352 | €766,902 | -€86,451 | -10.1% |
| Trade debts | 44 | €4,456 | €6,085 | +€1,630 | +36.6% |
| Suppliers | 440/4 | €4,456 | €6,085 | +€1,630 | +36.6% |
| Other amounts payable | 47/48 | €848,897 | €760,816 | -€88,080 | -10.4% |
| Accrued charges and deferred income | 492/3 | €16,373 | €32,470 | +€16,097 | +98.3% |
| Non-recurring operating income | 76A | - | €165,496 | +€165,496 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,557 | €133,393 | +€26,836 | +25.2% |
| Other operating charges | 640/8 | €13,837 | €13,819 | -€18 | -0.1% |
| Non-recurring operating charges | 66A | - | €220,000 | +€220,000 | |
| Gross operating margin | 9900 | €124,101 | €332,475 | +€208,374 | +168% |
| Operating profit (loss) | 9901 | €3,707 | -€34,737 | -€38,444 | |
| Financial income | 75/76B | - | €50 | +€50 | |
| Recurring financial income | 75 | - | €50 | +€50 | |
| Financial charges | 65/66B | €16,489 | €16,319 | -€171 | -1.0% |
| Recurring financial charges | 65 | €16,489 | €16,319 | -€171 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,782 | -€51,005 | -€38,223 | -299% |
| Transfer from deferred taxes | 780 | €9,237 | €9,237 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€3,545 | -€41,768 | -€38,223 | -1,078% |
| Transfer from tax-exempt reserves | 789 | €17,932 | €17,932 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,387 | -€23,837 | -€38,223 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.