Den Hofnar: 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.
Den Hofnar
Largest movements
- Receivables within one year +€35,168
up €35,168 (+188%), from €18,716 to €53,884
- Tangible fixed assets -€10,222
down €10,222 (-16.7%), from €61,199 to €50,976
of which Land and buildings: -€10,678
- Stocks and contracts -€3,564
down €3,564 (-27.0%), from €13,193 to €9,629
- Profit (loss) carried forward +€21,982
up €21,982, from -€12,969 to €9,013
- Tax, wage and social debts +€6,436
up €6,436 (+14.7%), from €43,815 to €50,250
of which Remuneration and social security: +€9,187
- Current portion of long-term debt -€5,512
down €5,512 (-13.0%), from €42,457 to €36,944
- Trade debts -€2,168
down €2,168 (-5.1%), from €42,600 to €40,431
- Gross operating margin +€402,060
up €402,060 (+756%), from €53,197 to €455,257
- Staff costs +€401,572
new in 2025: €401,572
- Depreciation -€15,361
down €15,361 (-52.4%), from €29,298 to €13,937
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 | €131,644 | €151,640 | +€19,996 | +15.2% |
| Fixed assets | 21/28 | €76,199 | €65,976 | -€10,222 | -13.4% |
| Intangible fixed assets | 21 | €15,000 | €15,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €61,199 | €50,976 | -€10,222 | -16.7% |
| Land and buildings | 22 | €53,388 | €42,711 | -€10,678 | -20.0% |
| Plant, machinery and equipment | 23 | €1,048 | €3,757 | +€2,709 | +258% |
| Furniture and vehicles | 24 | €6,762 | €4,508 | -€2,254 | -33.3% |
| Current assets | 29/58 | €55,445 | €85,663 | +€30,218 | +54.5% |
| Stocks and contracts in progress | 3 | €13,193 | €9,629 | -€3,564 | -27.0% |
| Stocks | 30/36 | €13,193 | €9,629 | -€3,564 | -27.0% |
| Amounts receivable within one year | 40/41 | €18,716 | €53,884 | +€35,168 | +188% |
| Other amounts receivable | 41 | €18,716 | €53,884 | +€35,168 | +188% |
| Cash at bank and in hand | 54/58 | €23,537 | €22,150 | -€1,386 | -5.9% |
| Total equity and liabilities | 10/49 | €131,644 | €151,640 | +€19,996 | +15.2% |
| Equity | 10/15 | €2,031 | €24,013 | +€21,982 | +1,082% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Contributions outside capital | 11 | €15,000 | €15,000 | = | 0.0% |
| Other | 1109/19 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,969 | €9,013 | +€21,982 | |
| Amounts payable | 17/49 | €129,613 | €127,626 | -€1,987 | -1.5% |
| Amounts payable after more than one year | 17 | €742 | - | -€742 | |
| Financial debts | 170/4 | €742 | - | -€742 | |
| Amounts payable within one year | 42/48 | €128,871 | €127,626 | -€1,245 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €42,457 | €36,944 | -€5,512 | -13.0% |
| Trade debts | 44 | €42,600 | €40,431 | -€2,168 | -5.1% |
| Suppliers | 440/4 | €42,600 | €40,431 | -€2,168 | -5.1% |
| Taxes, remuneration and social security | 45 | €43,815 | €50,250 | +€6,436 | +14.7% |
| Taxes | 450/3 | €18,507 | €15,756 | -€2,752 | -14.9% |
| Remuneration and social security | 454/9 | €25,307 | €34,495 | +€9,187 | +36.3% |
| Remuneration, social security and pensions | 62 | - | €401,572 | +€401,572 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,298 | €13,937 | -€15,361 | -52.4% |
| Other operating charges | 640/8 | €3,582 | €4,162 | +€581 | +16.2% |
| Gross operating margin | 9900 | €53,197 | €455,257 | +€402,060 | +756% |
| Operating profit (loss) | 9901 | €20,317 | €35,586 | +€15,269 | +75.2% |
| Financial income | 75/76B | €21 | €43 | +€21 | +100.0% |
| Recurring financial income | 75 | €21 | €43 | +€21 | +100.0% |
| Financial charges | 65/66B | €4,853 | €4,705 | -€147 | -3.0% |
| Recurring financial charges | 65 | €4,853 | €4,705 | -€147 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €15,486 | €30,924 | +€15,438 | +99.7% |
| Income taxes | 67/77 | €6,527 | €8,942 | +€2,415 | +37.0% |
| Profit (loss) for the period | 9904 | €8,959 | €21,982 | +€13,023 | +145% |
| Profit (loss) for the period to be appropriated | 9905 | €8,959 | €21,982 | +€13,023 | +145% |
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 17 October 2026 via checked.be.