DEN HOORN: 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 HOORN
Largest movements
- Current investments +€2.1m
up €2.1m (+33,868%), from €6,329 to €2.2m
- Tangible fixed assets -€666,002
down €666,002 (-4.8%), from €13.9m to €13.2m
of which Land and buildings: -€646,565
- Receivables within one year -€655,295
down €655,295 (-30.8%), from €2.1m to €1.5m
of which Trade receivables: -€619,811
- Debts after one year -€620,169
down €620,169 (-5.1%), from €12.3m to €11.6m
of which Financial debts: -€620,169
- Other debts +€613,569
up €613,569 (+98.0%), from €625,864 to €1.2m
- Contributions +€500,000
up €500,000 (+5.0%), from €9.9m to €10.4m
- Profit (loss) carried forward +€368,288
up €368,288 (+40.7%), from -€904,448 to -€536,160
- Financial income +€147,527
up €147,527 (+245%), from €60,101 to €207,628
of which Non-recurring financial income: +€75,000
- Gross operating margin +€44,971
up €44,971 (+3.1%), from €1.5m to €1.5m
- Financial charges -€35,624
down €35,624 (-7.1%), from €502,552 to €466,928
- Other operating charges +€15,866
up €15,866 (+11.6%), from €137,157 to €153,023
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 | €26,397,304 | €27,233,898 | +€836,595 | +3.2% |
| Fixed assets | 21/28 | €24,251,886 | €23,495,884 | -€756,002 | -3.1% |
| Tangible fixed assets | 22/27 | €13,859,978 | €13,193,976 | -€666,002 | -4.8% |
| Land and buildings | 22 | €13,325,779 | €12,679,214 | -€646,565 | -4.9% |
| Plant, machinery and equipment | 23 | €12,492 | €21,016 | +€8,524 | +68.2% |
| Furniture and vehicles | 24 | €521,707 | €493,746 | -€27,962 | -5.4% |
| Financial fixed assets | 28 | €10,391,908 | €10,301,908 | -€90,000 | -0.9% |
| Current assets | 29/58 | €2,145,418 | €3,738,015 | +€1.6m | +74.2% |
| Amounts receivable within one year | 40/41 | €2,127,705 | €1,472,410 | -€655,295 | -30.8% |
| Trade receivables | 40 | €687,694 | €67,882 | -€619,811 | -90.1% |
| Other amounts receivable | 41 | €1,440,011 | €1,404,528 | -€35,483 | -2.5% |
| Current investments | 50/53 | €6,329 | €2,150,007 | +€2.1m | +33,868% |
| Cash at bank and in hand | 54/58 | €0 | €98,706 | +€98,706 | |
| Deferred charges and accrued income | 490/1 | €11,383 | €16,892 | +€5,508 | +48.4% |
| Total equity and liabilities | 10/49 | €26,397,304 | €27,233,898 | +€836,595 | +3.2% |
| Equity | 10/15 | €9,740,838 | €10,575,478 | +€834,640 | +8.6% |
| Contributions | 10/11 | €9,943,823 | €10,443,823 | +€500,000 | +5.0% |
| Capital | 10 | €9,943,823 | €10,443,823 | +€500,000 | +5.0% |
| Issued capital | 100 | €9,943,823 | €10,443,823 | +€500,000 | +5.0% |
| Profit (loss) carried forward | 14 | -€904,448 | -€536,160 | +€368,288 | +40.7% |
| Investment grants | 15 | €701,463 | €667,816 | -€33,648 | -4.8% |
| Amounts payable | 17/49 | €16,656,465 | €16,658,420 | +€1,955 | 0.0% |
| Amounts payable after more than one year | 17 | €12,255,459 | €11,635,290 | -€620,169 | -5.1% |
| Financial debts | 170/4 | €10,468,959 | €9,848,790 | -€620,169 | -5.9% |
| Other amounts payable | 178/9 | €1,786,500 | €1,786,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,398,525 | €4,996,877 | +€598,352 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €607,374 | €620,169 | +€12,795 | +2.1% |
| Financial debts | 43 | €2,689,588 | €2,551,524 | -€138,065 | -5.1% |
| Credit institutions | 430/8 | €2,689,588 | €2,551,524 | -€138,065 | -5.1% |
| Trade debts | 44 | €475,699 | €411,735 | -€63,964 | -13.4% |
| Suppliers | 440/4 | €475,699 | €411,735 | -€63,964 | -13.4% |
| Advances received on contracts in progress | 46 | - | €125,477 | +€125,477 | |
| Taxes, remuneration and social security | 45 | €0 | €48,540 | +€48,540 | |
| Taxes | 450/3 | €0 | €48,540 | +€48,540 | |
| Other amounts payable | 47/48 | €625,864 | €1,239,433 | +€613,569 | +98.0% |
| Accrued charges and deferred income | 492/3 | €2,481 | €26,253 | +€23,772 | +958% |
| Non-recurring operating income | 76A | €0 | €3,821 | +€3,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €717,458 | €717,110 | -€347 | 0.0% |
| Other operating charges | 640/8 | €137,157 | €153,023 | +€15,866 | +11.6% |
| Gross operating margin | 9900 | €1,452,750 | €1,497,721 | +€44,971 | +3.1% |
| Operating profit (loss) | 9901 | €598,136 | €627,587 | +€29,452 | +4.9% |
| Financial income | 75/76B | €60,101 | €207,628 | +€147,527 | +245% |
| Recurring financial income | 75 | €60,101 | €132,628 | +€72,527 | +121% |
| Non-recurring financial income | 76B | - | €75,000 | +€75,000 | |
| Financial charges | 65/66B | €502,552 | €466,928 | -€35,624 | -7.1% |
| Recurring financial charges | 65 | €502,552 | €466,928 | -€35,624 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €155,684 | €368,288 | +€212,603 | +137% |
| Profit (loss) for the period | 9904 | €155,684 | €368,288 | +€212,603 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €155,684 | €368,288 | +€212,603 | +137% |
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 1 November 2026 via checked.be.