Dr HOEBERS: 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.
Dr HOEBERS
Largest movements
- Current investments +€201,032
up €201,032 (+575.4%), from €34,937 to €235,969
- Cash +€49,190
up €49,190 (+29.4%), from €167,540 to €216,730
mainly Net result for the year (+€235,875) and Depreciation (+€16,230)
- Tangible fixed assets -€9,980
down €9,980 (-17.8%), from €55,966 to €45,986
- Profit (loss) carried forward +€194,617
up €194,617 (+147.1%), from €132,315 to €326,932
- Reserves +€41,258
up €41,258 (+17.4%), from €236,828 to €278,086
of which Tax-exempt reserves: +€41,258
- Debts after one year -€8,956
down €8,956 (-48.8%), from €18,369 to €9,413
- Gross operating margin -€14,528
down €14,528 (-4.3%), from €339,935 to €325,408
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 | €402,822 | €634,735 | +€231,914 | +57.6% |
| Fixed assets | 21/28 | €55,966 | €45,986 | -€9,980 | -17.8% |
| Tangible fixed assets | 22/27 | €55,966 | €45,986 | -€9,980 | -17.8% |
| Furniture and vehicles | 24 | €55,966 | €45,986 | -€9,980 | -17.8% |
| Current assets | 29/58 | €346,855 | €588,749 | +€241,894 | +69.7% |
| Amounts receivable within one year | 40/41 | €3,139 | - | -€3,139 | |
| Other amounts receivable | 41 | €3,139 | - | -€3,139 | |
| Current investments | 50/53 | €34,937 | €235,969 | +€201,032 | +575.4% |
| Cash at bank and in hand | 54/58 | €167,540 | €216,730 | +€49,190 | +29.4% |
| Deferred charges and accrued income | 490/1 | €141,240 | €136,050 | -€5,189 | -3.7% |
| Total equity and liabilities | 10/49 | €402,822 | €634,735 | +€231,914 | +57.6% |
| Equity | 10/15 | €371,142 | €607,017 | +€235,875 | +63.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €236,828 | €278,086 | +€41,258 | +17.4% |
| Tax-exempt reserves | 132 | €116,828 | €158,086 | +€41,258 | +35.3% |
| Distributable reserves | 133 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,315 | €326,932 | +€194,617 | +147.1% |
| Amounts payable | 17/49 | €31,679 | €27,718 | -€3,961 | -12.5% |
| Amounts payable after more than one year | 17 | €18,369 | €9,413 | -€8,956 | -48.8% |
| Financial debts | 170/4 | €18,369 | €9,413 | -€8,956 | -48.8% |
| Amounts payable within one year | 42/48 | €13,310 | €18,305 | +€4,995 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €8,522 | €9,312 | +€790 | +9.3% |
| Trade debts | 44 | €1,988 | €1,988 | +€0 | 0.0% |
| Suppliers | 440/4 | €1,988 | €1,988 | +€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €2,801 | €5,552 | +€2,751 | +98.2% |
| Taxes | 450/3 | €2,801 | €2,689 | -€112 | -4.0% |
| Remuneration and social security | 454/9 | - | €2,863 | +€2,863 | |
| Other amounts payable | 47/48 | - | €1,453 | +€1,453 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,181 | €16,230 | +€2,050 | +14.5% |
| Other operating charges | 640/8 | €750 | €1,742 | +€991 | +132.1% |
| Gross operating margin | 9900 | €339,935 | €325,408 | -€14,528 | -4.3% |
| Operating profit (loss) | 9901 | €325,005 | €307,436 | -€17,569 | -5.4% |
| Financial income | 75/76B | €327 | €2,314 | +€1,986 | +606.5% |
| Recurring financial income | 75 | €327 | €2,314 | +€1,986 | +606.5% |
| Financial charges | 65/66B | €1,801 | €1,386 | -€415 | -23.1% |
| Recurring financial charges | 65 | €1,801 | €1,386 | -€415 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €323,531 | €308,363 | -€15,168 | -4.7% |
| Income taxes | 67/77 | €75,551 | €72,489 | -€3,062 | -4.1% |
| Profit (loss) for the period | 9904 | €247,981 | €235,875 | -€12,106 | -4.9% |
| Transfer to tax-exempt reserves | 689 | €116,828 | €41,258 | -€75,570 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €131,153 | €194,617 | +€63,464 | +48.4% |
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 10 October 2026 via checked.be.