ETS HOORNE: 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.
What changed
ETS HOORNE
NACE 47.610, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€18,887
2024 · €15,223+€3,664
Equity
€567,056
2024 · €548,170+€18,887
Cash
€85,977
2024 · €51,003+€34,975
Balance sheet total
€1.3m
2024 · €1.3m+€61,483
Largest movements
Assets
- Cash +€34,975
up €34,975 (+68.6%), from €51,003 to €85,977
mainly Depreciation (+€50,846) and Current portion of long-term debt (+€19,331)
- Tangible fixed assets +€20,149
up €20,149 (+3.1%), from €641,543 to €661,692
of which Furniture and vehicles: +€49,411
Equity and liabilities
- Current portion of long-term debt +€19,331
up €19,331 (+39.3%), from €49,193 to €68,524
- Reserves +€18,887
up €18,887 (+12.8%), from €147,302 to €166,189
of which Distributable reserves: +€17,942
Income statement
- Staff costs +€24,759
up €24,759 (+17.7%), from €140,020 to €164,779
- Gross operating margin +€23,449
up €23,449 (+9.7%), from €242,285 to €265,733
- Financial charges -€8,965
down €8,965 (-32.8%), from €27,315 to €18,350
- Other operating charges +€5,450
up €5,450 (+50.6%), from €10,770 to €16,220
- Depreciation -€2,987
down €2,987 (-5.5%), from €53,833 to €50,846
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.
Result 2024
€15,223
Gross operating margin
+€23,449
Staff costs
-€24,759
Depreciation
+€2,987
Other operating charges
-€5,450
Financial income
-€2,372
Financial charges
+€8,965
Taxes
+€844
Result 2025
€18,887
raises the resultlowers the result
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.
From operations
+€82,391
Investment
-€70,995
Financing
+€23,578
Cash 2024
€51,003
From operations (derived)
+€82,391
Net result for the year
+€18,887
Depreciation
+€50,846
Stocks and contracts
-€11,065
Receivables within one year
+€4,554
Smaller working-capital items
+€174
Trade debts
+€6,604
Tax, wage and social debts
+€5,239
Advances received
+€12,171
Other debts
-€5,018
Investment (derived)
-€70,995
Investment in fixed assets (net)
-€70,995
Financing
+€23,578
Debts after one year
+€4,247
Current portion of long-term debt
+€19,331
Cash 2025
€85,977
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,268,834 | €1,330,317 | +€61,483 | +4.8% |
| Fixed assets | 21/28 | €641,608 | €661,757 | +€20,149 | +3.1% |
| Tangible fixed assets | 22/27 | €641,543 | €661,692 | +€20,149 | +3.1% |
| Land and buildings | 22 | €607,039 | €581,852 | -€25,187 | -4.1% |
| Plant, machinery and equipment | 23 | €11,835 | €7,761 | -€4,074 | -34.4% |
| Furniture and vehicles | 24 | €22,669 | €72,080 | +€49,411 | +218% |
| Financial fixed assets | 28 | €64 | €64 | = | 0.0% |
| Current assets | 29/58 | €627,226 | €668,560 | +€41,334 | +6.6% |
| Stocks and contracts in progress | 3 | €512,796 | €523,861 | +€11,065 | +2.2% |
| Stocks | 30/36 | €512,796 | €523,861 | +€11,065 | +2.2% |
| Amounts receivable within one year | 40/41 | €54,000 | €49,446 | -€4,554 | -8.4% |
| Trade receivables | 40 | €42,924 | €38,084 | -€4,839 | -11.3% |
| Other amounts receivable | 41 | €11,076 | €11,362 | +€286 | +2.6% |
| Cash at bank and in hand | 54/58 | €51,003 | €85,977 | +€34,975 | +68.6% |
| Deferred charges and accrued income | 490/1 | €9,429 | €9,276 | -€152 | -1.6% |
| Total equity and liabilities | 10/49 | €1,268,834 | €1,330,317 | +€61,483 | +4.8% |
| Equity | 10/15 | €548,170 | €567,056 | +€18,887 | +3.4% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €147,302 | €166,189 | +€18,887 | +12.8% |
| Non-distributable reserves | 130/1 | €10,979 | €11,924 | +€944 | +8.6% |
| Legal reserve | 130 | €10,979 | €11,924 | +€944 | +8.6% |
| Tax-exempt reserves | 132 | €20,500 | €20,500 | = | 0.0% |
| Distributable reserves | 133 | €115,823 | €133,765 | +€17,942 | +15.5% |
| Profit (loss) carried forward | 14 | €867 | €867 | = | 0.0% |
| Amounts payable | 17/49 | €720,664 | €763,261 | +€42,596 | +5.9% |
| Amounts payable after more than one year | 17 | €480,780 | €485,027 | +€4,247 | +0.9% |
| Financial debts | 170/4 | €380,780 | €385,027 | +€4,247 | +1.1% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €239,884 | €278,212 | +€38,327 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €49,193 | €68,524 | +€19,331 | +39.3% |
| Trade debts | 44 | €135,805 | €142,409 | +€6,604 | +4.9% |
| Suppliers | 440/4 | €135,805 | €142,409 | +€6,604 | +4.9% |
| Advances received on contracts in progress | 46 | - | €12,171 | +€12,171 | |
| Taxes, remuneration and social security | 45 | €33,996 | €39,235 | +€5,239 | +15.4% |
| Taxes | 450/3 | €25,019 | €27,986 | +€2,967 | +11.9% |
| Remuneration and social security | 454/9 | €8,978 | €11,249 | +€2,272 | +25.3% |
| Other amounts payable | 47/48 | €20,890 | €15,872 | -€5,018 | -24.0% |
| Accrued charges and deferred income | 492/3 | - | €22 | +€22 | |
| Non-recurring operating income | 76A | €0 | €11,232 | +€11,232 | |
| Remuneration, social security and pensions | 62 | €140,020 | €164,779 | +€24,759 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,833 | €50,846 | -€2,987 | -5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,770 | €16,220 | +€5,450 | +50.6% |
| Gross operating margin | 9900 | €242,285 | €265,733 | +€23,449 | +9.7% |
| Operating profit (loss) | 9901 | €37,662 | €33,889 | -€3,773 | -10.0% |
| Financial income | 75/76B | €12,627 | €10,256 | -€2,372 | -18.8% |
| Recurring financial income | 75 | €12,627 | €10,256 | -€2,372 | -18.8% |
| Financial charges | 65/66B | €27,315 | €18,350 | -€8,965 | -32.8% |
| Recurring financial charges | 65 | €27,315 | €18,350 | -€8,965 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €22,975 | €25,795 | +€2,820 | +12.3% |
| Income taxes | 67/77 | €7,752 | €6,908 | -€844 | -10.9% |
| Profit (loss) for the period | 9904 | €15,223 | €18,887 | +€3,664 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,223 | €18,887 | +€3,664 | +24.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.