DR. P. HOSTE MBV: 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. P. HOSTE MBV
Largest movements
- Receivables within one year -€70,292
down €70,292 (-81.9%), from €85,798 to €15,506
of which Other amounts receivable: -€69,893
- Current investments +€35,999
up €35,999 (+7.9%), from €453,175 to €489,174
- Cash +€30,036
up €30,036 (+11.0%), from €271,897 to €301,933
mainly Net result for the year (+€412,963) and Receivables within one year (+€70,292)
- Receivables after one year +€25,000
new in 2025: €25,000
- Tangible fixed assets +€22,508
up €22,508 (+11.9%), from €189,843 to €212,351
of which Other tangible fixed assets: +€25,366
- Reserves +€37,963
up €37,963 (+3.7%), from €1.0m to €1.1m
of which Distributable reserves: +€26,763
- Other debts +€25,269
new in 2025: €25,269
- Financial income -€16,393
down €16,393 (-42.5%), from €38,600 to €22,207
- Gross operating margin +€15,172
up €15,172 (+2.8%), from €536,614 to €551,786
- Taxes +€10,328
up €10,328 (+8.3%), from €123,732 to €134,060
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 | €1,237,192 | €1,287,166 | +€49,974 | +4.0% |
| Fixed assets | 21/28 | €189,843 | €212,351 | +€22,508 | +11.9% |
| Tangible fixed assets | 22/27 | €189,843 | €212,351 | +€22,508 | +11.9% |
| Land and buildings | 22 | €174,753 | €165,116 | -€9,637 | -5.5% |
| Plant, machinery and equipment | 23 | €4,279 | €7,259 | +€2,979 | +69.6% |
| Furniture and vehicles | 24 | €1,781 | €5,581 | +€3,800 | +213% |
| Other tangible fixed assets | 26 | €9,030 | €34,396 | +€25,366 | +281% |
| Current assets | 29/58 | €1,047,349 | €1,074,815 | +€27,466 | +2.6% |
| Amounts receivable after more than one year | 29 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Amounts receivable within one year | 40/41 | €85,798 | €15,506 | -€70,292 | -81.9% |
| Trade receivables | 40 | €1,179 | €780 | -€399 | -33.8% |
| Other amounts receivable | 41 | €84,619 | €14,727 | -€69,893 | -82.6% |
| Current investments | 50/53 | €453,175 | €489,174 | +€35,999 | +7.9% |
| Cash at bank and in hand | 54/58 | €271,897 | €301,933 | +€30,036 | +11.0% |
| Deferred charges and accrued income | 490/1 | €236,479 | €243,202 | +€6,723 | +2.8% |
| Total equity and liabilities | 10/49 | €1,237,192 | €1,287,166 | +€49,974 | +4.0% |
| Equity | 10/15 | €1,056,316 | €1,094,279 | +€37,963 | +3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,037,716 | €1,075,679 | +€37,963 | +3.7% |
| Tax-exempt reserves | 132 | €199,301 | €210,500 | +€11,199 | +5.6% |
| Distributable reserves | 133 | €838,416 | €865,179 | +€26,763 | +3.2% |
| Amounts payable | 17/49 | €180,876 | €192,887 | +€12,011 | +6.6% |
| Amounts payable after more than one year | 17 | €161,493 | €150,612 | -€10,881 | -6.7% |
| Financial debts | 170/4 | €161,493 | €150,612 | -€10,881 | -6.7% |
| Amounts payable within one year | 42/48 | €19,382 | €41,894 | +€22,512 | +116% |
| Current portion of amounts payable after more than one year | 42 | €10,686 | €10,881 | +€196 | +1.8% |
| Trade debts | 44 | €8,030 | €5,744 | -€2,286 | -28.5% |
| Suppliers | 440/4 | €8,030 | €5,744 | -€2,286 | -28.5% |
| Taxes, remuneration and social security | 45 | €667 | - | -€667 | |
| Taxes | 450/3 | €667 | - | -€667 | |
| Other amounts payable | 47/48 | - | €25,269 | +€25,269 | |
| Accrued charges and deferred income | 492/3 | - | €381 | +€381 | |
| Non-recurring operating income | 76A | €232 | - | -€232 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,412 | €15,011 | +€1,599 | +11.9% |
| Other operating charges | 640/8 | €3,981 | €4,035 | +€54 | +1.4% |
| Non-recurring operating charges | 66A | - | €299 | +€299 | |
| Gross operating margin | 9900 | €536,614 | €551,786 | +€15,172 | +2.8% |
| Operating profit (loss) | 9901 | €519,221 | €532,441 | +€13,220 | +2.5% |
| Financial income | 75/76B | €38,600 | €22,207 | -€16,393 | -42.5% |
| Recurring financial income | 75 | €38,600 | €22,207 | -€16,393 | -42.5% |
| Financial charges | 65/66B | €6,257 | €7,625 | +€1,368 | +21.9% |
| Recurring financial charges | 65 | €6,257 | €7,625 | +€1,368 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €551,564 | €547,023 | -€4,541 | -0.8% |
| Income taxes | 67/77 | €123,732 | €134,060 | +€10,328 | +8.3% |
| Profit (loss) for the period | 9904 | €427,832 | €412,963 | -€14,869 | -3.5% |
| Transfer to tax-exempt reserves | 689 | €199,301 | €11,199 | -€188,101 | -94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €228,531 | €401,763 | +€173,232 | +75.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.