DR. HOORENS: 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. HOORENS
Largest movements
- Receivables within one year -€151,170
down €151,170 (-87.1%), from €173,539 to €22,369
- Cash +€85,264
up €85,264 (+88.7%), from €96,121 to €181,385
mainly Net result for the year (+€179,765) and Receivables within one year (+€151,170)
- Deferred charges and accrued income +€45,532
up €45,532 (+869%), from €5,242 to €50,774
- Receivables after one year +€45,187
new in 2025: €45,187
- Tangible fixed assets -€8,366
down €8,366 (-35.2%), from €23,798 to €15,432
- Reserves +€54,765
up €54,765 (+31.7%), from €172,564 to €227,329
- Other debts -€33,004
down €33,004 (-18.5%), from €178,876 to €145,872
- Gross operating margin +€58,094
up €58,094 (+32.0%), from €181,353 to €239,447
- Taxes +€16,995
up €16,995 (+42.5%), from €39,944 to €56,939
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 | €375,546 | €398,544 | +€22,997 | +6.1% |
| Fixed assets | 21/28 | €23,798 | €15,432 | -€8,366 | -35.2% |
| Tangible fixed assets | 22/27 | €23,798 | €15,432 | -€8,366 | -35.2% |
| Furniture and vehicles | 24 | €23,798 | €15,432 | -€8,366 | -35.2% |
| Current assets | 29/58 | €351,748 | €383,112 | +€31,364 | +8.9% |
| Amounts receivable after more than one year | 29 | - | €45,187 | +€45,187 | |
| Other amounts receivable | 291 | - | €45,187 | +€45,187 | |
| Amounts receivable within one year | 40/41 | €173,539 | €22,369 | -€151,170 | -87.1% |
| Other amounts receivable | 41 | €173,539 | €22,369 | -€151,170 | -87.1% |
| Current investments | 50/53 | €76,846 | €83,397 | +€6,551 | +8.5% |
| Cash at bank and in hand | 54/58 | €96,121 | €181,385 | +€85,264 | +88.7% |
| Deferred charges and accrued income | 490/1 | €5,242 | €50,774 | +€45,532 | +869% |
| Total equity and liabilities | 10/49 | €375,546 | €398,544 | +€22,997 | +6.1% |
| Equity | 10/15 | €191,164 | €245,929 | +€54,765 | +28.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €172,564 | €227,329 | +€54,765 | +31.7% |
| Distributable reserves | 133 | €172,564 | €227,329 | +€54,765 | +31.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €184,383 | €152,615 | -€31,768 | -17.2% |
| Amounts payable within one year | 42/48 | €184,383 | €150,814 | -€33,569 | -18.2% |
| Financial debts | 43 | €3,878 | €0 | -€3,878 | -100% |
| Credit institutions | 430/8 | €3,878 | €0 | -€3,878 | -100% |
| Trade debts | 44 | €1,629 | €2,498 | +€869 | +53.3% |
| Suppliers | 440/4 | €1,629 | €2,498 | +€869 | +53.3% |
| Taxes, remuneration and social security | 45 | €0 | €2,444 | +€2,444 | |
| Taxes | 450/3 | €0 | €2,444 | +€2,444 | |
| Other amounts payable | 47/48 | €178,876 | €145,872 | -€33,004 | -18.5% |
| Accrued charges and deferred income | 492/3 | - | €1,801 | +€1,801 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,572 | €9,656 | +€84 | +0.9% |
| Other operating charges | 640/8 | €2,595 | €1,803 | -€792 | -30.5% |
| Gross operating margin | 9900 | €181,353 | €239,447 | +€58,094 | +32.0% |
| Operating profit (loss) | 9901 | €169,186 | €227,989 | +€58,802 | +34.8% |
| Financial income | 75/76B | €9,161 | €8,956 | -€204 | -2.2% |
| Recurring financial income | 75 | €9,161 | €8,956 | -€204 | -2.2% |
| Financial charges | 65/66B | €0 | €240 | +€240 | |
| Recurring financial charges | 65 | €0 | €240 | +€240 | |
| Profit (loss) for the period before taxes | 9903 | €178,347 | €236,705 | +€58,358 | +32.7% |
| Income taxes | 67/77 | €39,944 | €56,939 | +€16,995 | +42.5% |
| Profit (loss) for the period | 9904 | €138,403 | €179,765 | +€41,362 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €138,403 | €179,765 | +€41,362 | +29.9% |
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 19 October 2026 via checked.be.