De Hoofdzetel: what changed
What changed
De Hoofdzetel
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€47,766
2024 · €67,527-€19,761
Equity
€200,628
2024 · €152,862+€47,766
Cash
€3,110
2024 · €2,653+€457
Balance sheet total
€692,040
2024 · €647,472+€44,568
Largest movements
Assets
- Tangible fixed assets +€48,126
up €48,126 (+7.8%), from €616,928 to €665,053
of which Land and buildings: +€49,890
Equity and liabilities
- Reserves +€47,766
up €47,766 (+31.9%), from €149,862 to €197,628
- Other debts +€25,679
up €25,679 (+12.3%), from €208,478 to €234,158
- Debts after one year -€17,597
down €17,597 (-7.4%), from €238,569 to €220,972
- Tax, wage and social debts -€11,822
down €11,822 (-40.7%), from €29,064 to €17,242
of which Taxes: -€11,822
Income statement
- Gross operating margin -€28,716
down €28,716 (-24.4%), from €117,669 to €88,953
- Depreciation -€7,254
down €7,254 (-27.0%), from €26,837 to €19,582
- Taxes -€3,916
down €3,916 (-23.2%), from €16,882 to €12,966
- Financial income -€2,206
no longer reported in 2025 (was €2,206)
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
€67,527
Gross operating margin
-€28,716
Depreciation
+€7,254
Other operating charges
-€420
Financial income
-€2,206
Financial charges
+€410
Taxes
+€3,916
Result 2025
€47,766
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
+€85,221
Investment
-€67,708
Financing
-€17,055
Cash 2024
€2,653
From operations (derived)
+€85,221
Net result for the year
+€47,766
Depreciation
+€19,582
Receivables within one year
+€4,031
Deferred charges and accrued income
-€16
Tax, wage and social debts
-€11,822
Other debts
+€25,679
Investment (derived)
-€67,708
Investment in fixed assets (net)
-€67,708
Financing
-€17,055
Debts after one year
-€17,597
Current portion of long-term debt
+€542
Cash 2025
€3,110
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €647,472 | €692,040 | +€44,568 | +6.9% |
| Fixed assets | 21/28 | €616,928 | €665,053 | +€48,126 | +7.8% |
| Tangible fixed assets | 22/27 | €616,928 | €665,053 | +€48,126 | +7.8% |
| Land and buildings | 22 | €611,909 | €661,799 | +€49,890 | +8.2% |
| Plant, machinery and equipment | 23 | €5,018 | €3,254 | -€1,764 | -35.2% |
| Current assets | 29/58 | €30,545 | €26,987 | -€3,558 | -11.6% |
| Amounts receivable within one year | 40/41 | €27,567 | €23,536 | -€4,031 | -14.6% |
| Trade receivables | 40 | €1,883 | €1,107 | -€775 | -41.2% |
| Other amounts receivable | 41 | €25,685 | €22,429 | -€3,256 | -12.7% |
| Cash at bank and in hand | 54/58 | €2,653 | €3,110 | +€457 | +17.2% |
| Deferred charges and accrued income | 490/1 | €325 | €341 | +€16 | +4.9% |
| Total equity and liabilities | 10/49 | €647,472 | €692,040 | +€44,568 | +6.9% |
| Equity | 10/15 | €152,862 | €200,628 | +€47,766 | +31.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €149,862 | €197,628 | +€47,766 | +31.9% |
| Distributable reserves | 133 | €149,862 | €197,628 | +€47,766 | +31.9% |
| Amounts payable | 17/49 | €494,610 | €491,412 | -€3,198 | -0.6% |
| Amounts payable after more than one year | 17 | €238,569 | €220,972 | -€17,597 | -7.4% |
| Financial debts | 170/4 | €238,569 | €220,972 | -€17,597 | -7.4% |
| Amounts payable within one year | 42/48 | €256,041 | €270,440 | +€14,399 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €18,499 | €19,041 | +€542 | +2.9% |
| Taxes, remuneration and social security | 45 | €29,064 | €17,242 | -€11,822 | -40.7% |
| Taxes | 450/3 | €25,864 | €14,042 | -€11,822 | -45.7% |
| Remuneration and social security | 454/9 | €3,200 | €3,200 | = | 0.0% |
| Other amounts payable | 47/48 | €208,478 | €234,158 | +€25,679 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,837 | €19,582 | -€7,254 | -27.0% |
| Other operating charges | 640/8 | €828 | €1,248 | +€420 | +50.8% |
| Gross operating margin | 9900 | €117,669 | €88,953 | -€28,716 | -24.4% |
| Operating profit (loss) | 9901 | €90,005 | €68,123 | -€21,881 | -24.3% |
| Financial income | 75/76B | €2,206 | - | -€2,206 | |
| Recurring financial income | 75 | €2,206 | - | -€2,206 | |
| Financial charges | 65/66B | €7,801 | €7,391 | -€410 | -5.3% |
| Recurring financial charges | 65 | €7,801 | €7,391 | -€410 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €84,409 | €60,732 | -€23,677 | -28.1% |
| Income taxes | 67/77 | €16,882 | €12,966 | -€3,916 | -23.2% |
| Profit (loss) for the period | 9904 | €67,527 | €47,766 | -€19,761 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,527 | €47,766 | -€19,761 | -29.3% |
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 4 November 2026 via checked.be.