GILBERT HOCEDEZ: 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.
GILBERT HOCEDEZ
Largest movements
- Cash +€34,368
up €34,368 (+24.4%), from €141,055 to €175,423
mainly Net result for the year (+€43,959) and Receivables within one year (+€8,456)
- Receivables within one year -€8,456
down €8,456 (-59.6%), from €14,195 to €5,739
of which Other amounts receivable: -€5,634
- Tangible fixed assets -€6,817
down €6,817 (-9.0%), from €75,536 to €68,720
of which Land and buildings: -€5,417
- Reserves +€38,008
up €38,008 (+6.2%), from €608,784 to €646,793
of which Distributable reserves: +€39,867
- Contributions -€12,641
down €12,641 (-68.0%), from €18,592 to €5,951
- Financial income +€15,644
up €15,644 (+3,106%), from €504 to €16,148
- Taxes +€6,141
up €6,141 (+39.8%), from €15,419 to €21,559
- Other operating charges -€2,415
down €2,415 (-50.0%), from €4,835 to €2,420
- Gross operating margin +€1,166
up €1,166 (+2.0%), from €57,842 to €59,008
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 | €639,936 | €664,046 | +€24,110 | +3.8% |
| Fixed assets | 21/28 | €75,536 | €68,720 | -€6,817 | -9.0% |
| Tangible fixed assets | 22/27 | €75,536 | €68,720 | -€6,817 | -9.0% |
| Land and buildings | 22 | €72,203 | €66,787 | -€5,417 | -7.5% |
| Furniture and vehicles | 24 | €3,333 | €1,933 | -€1,400 | -42.0% |
| Current assets | 29/58 | €564,400 | €595,327 | +€30,927 | +5.5% |
| Stocks and contracts in progress | 3 | €8,570 | €13,141 | +€4,571 | +53.3% |
| Stocks | 30/36 | €2,986 | €3,867 | +€881 | +29.5% |
| Contracts in progress | 37 | €5,584 | €9,274 | +€3,690 | +66.1% |
| Amounts receivable within one year | 40/41 | €14,195 | €5,739 | -€8,456 | -59.6% |
| Trade receivables | 40 | €6,972 | €4,151 | -€2,822 | -40.5% |
| Other amounts receivable | 41 | €7,222 | €1,588 | -€5,634 | -78.0% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €141,055 | €175,423 | +€34,368 | +24.4% |
| Deferred charges and accrued income | 490/1 | €580 | €1,024 | +€444 | +76.5% |
| Total equity and liabilities | 10/49 | €639,936 | €664,046 | +€24,110 | +3.8% |
| Equity | 10/15 | €627,376 | €652,744 | +€25,367 | +4.0% |
| Contributions | 10/11 | €18,592 | €5,951 | -€12,641 | -68.0% |
| Reserves | 13 | €608,784 | €646,793 | +€38,008 | +6.2% |
| Non-distributable reserves | 130/1 | €65,260 | €63,401 | -€1,859 | -2.8% |
| Reserves not available under the articles | 1311 | €65,260 | €63,401 | -€1,859 | -2.8% |
| Distributable reserves | 133 | €543,524 | €583,391 | +€39,867 | +7.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €12,560 | €11,303 | -€1,257 | -10.0% |
| Amounts payable within one year | 42/48 | €8,937 | €9,898 | +€961 | +10.7% |
| Trade debts | 44 | €150 | €632 | +€482 | +321% |
| Suppliers | 440/4 | €150 | €632 | +€482 | +321% |
| Advances received on contracts in progress | 46 | €500 | €0 | -€500 | -100% |
| Taxes, remuneration and social security | 45 | €635 | €1,758 | +€1,123 | +177% |
| Taxes | 450/3 | €635 | €1,758 | +€1,123 | +177% |
| Other amounts payable | 47/48 | €7,652 | €7,509 | -€144 | -1.9% |
| Accrued charges and deferred income | 492/3 | €3,623 | €1,405 | -€2,218 | -61.2% |
| Non-recurring operating income | 76A | €100 | €0 | -€100 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,817 | €6,817 | = | 0.0% |
| Other operating charges | 640/8 | €4,835 | €2,420 | -€2,415 | -50.0% |
| Gross operating margin | 9900 | €57,842 | €59,008 | +€1,166 | +2.0% |
| Operating profit (loss) | 9901 | €46,191 | €49,771 | +€3,581 | +7.8% |
| Financial income | 75/76B | €504 | €16,148 | +€15,644 | +3,106% |
| Recurring financial income | 75 | €504 | €16,148 | +€15,644 | +3,106% |
| Financial charges | 65/66B | €527 | €401 | -€126 | -23.9% |
| Recurring financial charges | 65 | €527 | €401 | -€126 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €46,168 | €65,518 | +€19,351 | +41.9% |
| Income taxes | 67/77 | €15,419 | €21,559 | +€6,141 | +39.8% |
| Profit (loss) for the period | 9904 | €30,749 | €43,959 | +€13,210 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,749 | €43,959 | +€13,210 | +43.0% |
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 29 October 2026 via checked.be.