DE HOE: 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.
DE HOE
Largest movements
- Receivables within one year -€264,669
down €264,669 (-62.5%), from €423,616 to €158,947
of which Trade receivables: -€213,429
- Cash -€123,253
down €123,253 (-83.1%), from €148,350 to €25,097
mainly Accrued charges and deferred income (-€250,648) and Deferred charges and accrued income (-€50,000)
- Deferred charges and accrued income +€50,000
new in 2025: €50,000
- Accrued charges and deferred income -€250,648
down €250,648 (-92.8%), from €270,102 to €19,455
- Profit (loss) carried forward -€47,691
down €47,691 (-39.7%), from €120,146 to €72,455
- Tax, wage and social debts -€18,658
down €18,658 (-22.0%), from €84,946 to €66,288
of which Taxes: -€22,698
- Trade debts -€12,322
down €12,322 (-10.2%), from €120,598 to €108,276
- Current portion of long-term debt -€8,000
down €8,000 (-41.9%), from €19,083 to €11,083
- Staff costs +€96,669
up €96,669 (+18.5%), from €522,778 to €619,446
- Gross operating margin +€9,387
up €9,387 (+1.7%), from €558,482 to €567,869
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 | €614,876 | €277,557 | -€337,319 | -54.9% |
| Fixed assets | 21/28 | €20,176 | €22,023 | +€1,847 | +9.2% |
| Tangible fixed assets | 22/27 | €16,726 | €18,573 | +€1,847 | +11.0% |
| Plant, machinery and equipment | 23 | €16,726 | €18,573 | +€1,847 | +11.0% |
| Financial fixed assets | 28 | €3,450 | €3,450 | = | 0.0% |
| Current assets | 29/58 | €594,700 | €255,535 | -€339,165 | -57.0% |
| Stocks and contracts in progress | 3 | €22,734 | €21,490 | -€1,244 | -5.5% |
| Stocks | 30/36 | €22,734 | €21,490 | -€1,244 | -5.5% |
| Amounts receivable within one year | 40/41 | €423,616 | €158,947 | -€264,669 | -62.5% |
| Trade receivables | 40 | €276,773 | €63,344 | -€213,429 | -77.1% |
| Other amounts receivable | 41 | €146,843 | €95,603 | -€51,240 | -34.9% |
| Cash at bank and in hand | 54/58 | €148,350 | €25,097 | -€123,253 | -83.1% |
| Deferred charges and accrued income | 490/1 | - | €50,000 | +€50,000 | |
| Total equity and liabilities | 10/49 | €614,876 | €277,557 | -€337,319 | -54.9% |
| Equity | 10/15 | €120,146 | €72,455 | -€47,691 | -39.7% |
| Profit (loss) carried forward | 14 | €120,146 | €72,455 | -€47,691 | -39.7% |
| Amounts payable | 17/49 | €494,730 | €205,103 | -€289,627 | -58.5% |
| Amounts payable within one year | 42/48 | €224,628 | €185,648 | -€38,980 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €19,083 | €11,083 | -€8,000 | -41.9% |
| Trade debts | 44 | €120,598 | €108,276 | -€12,322 | -10.2% |
| Suppliers | 440/4 | €120,598 | €108,276 | -€12,322 | -10.2% |
| Taxes, remuneration and social security | 45 | €84,946 | €66,288 | -€18,658 | -22.0% |
| Taxes | 450/3 | €22,698 | - | -€22,698 | |
| Remuneration and social security | 454/9 | €62,248 | €66,288 | +€4,040 | +6.5% |
| Accrued charges and deferred income | 492/3 | €270,102 | €19,455 | -€250,648 | -92.8% |
| Non-recurring operating income | 76A | €621 | - | -€621 | |
| Remuneration, social security and pensions | 62 | €522,778 | €619,446 | +€96,669 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,388 | €10,219 | -€169 | -1.6% |
| Gross operating margin | 9900 | €558,482 | €567,869 | +€9,387 | +1.7% |
| Operating profit (loss) | 9901 | €25,316 | -€61,797 | -€87,113 | |
| Financial income | 75/76B | €26,300 | €20,961 | -€5,339 | -20.3% |
| Recurring financial income | 75 | €26,300 | €20,961 | -€5,339 | -20.3% |
| Non-recurring financial income | 76B | €26,300 | €20,961 | -€5,339 | -20.3% |
| Financial charges | 65/66B | €2,694 | €6,855 | +€4,161 | +154.4% |
| Recurring financial charges | 65 | €2,694 | €6,855 | +€4,161 | +154.4% |
| Non-recurring financial charges | 66B | - | €6,855 | +€6,855 | |
| Profit (loss) for the period before taxes | 9903 | €48,922 | -€47,691 | -€96,613 | |
| Profit (loss) for the period | 9904 | €48,922 | -€47,691 | -€96,613 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,922 | -€47,691 | -€96,613 |
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 8 October 2026 via checked.be.