H.O.Bikes: 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.
H.O.Bikes
Largest movements
- Stocks and contracts -€277,553
down €277,553 (-24.4%), from €1.1m to €862,285
- Tangible fixed assets +€159,009
up €159,009 (+300%), from €52,967 to €211,976
of which Land and buildings: +€147,360
- Receivables within one year +€87,189
up €87,189 (+53.3%), from €163,612 to €250,801
of which Trade receivables: +€88,818
- Cash -€28,147
down €28,147 (-29.9%), from €94,284 to €66,137
mainly Investment in fixed assets (net) (-€190,238) and Receivables within one year (-€87,189)
- Financial fixed assets +€15,631
up €15,631 (+165%), from €9,489 to €25,120
- Tax, wage and social debts -€55,013
down €55,013 (-55.9%), from €98,368 to €43,356
of which Taxes: -€41,708
- Current portion of long-term debt -€42,000
down €42,000 (-31.8%), from €132,000 to €90,000
- Profit (loss) carried forward +€39,425
up €39,425 (+21.8%), from -€180,508 to -€141,083
- Write-downs -€285,553
no longer reported in 2025 (was €285,553)
- Gross operating margin +€49,554
up €49,554 (+41.4%), from €119,699 to €169,253
- Staff costs -€48,987
down €48,987 (-36.4%), from €134,495 to €85,508
- Other operating charges -€11,741
down €11,741 (-47.6%), from €24,662 to €12,922
- Financial income -€4,405
down €4,405 (-48.1%), from €9,167 to €4,762
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 | €1,461,601 | €1,417,747 | -€43,854 | -3.0% |
| Fixed assets | 21/28 | €62,456 | €237,096 | +€174,641 | +280% |
| Tangible fixed assets | 22/27 | €52,967 | €211,976 | +€159,009 | +300% |
| Land and buildings | 22 | €52,440 | €199,800 | +€147,360 | +281% |
| Plant, machinery and equipment | 23 | €527 | €8,980 | +€8,453 | +1,603% |
| Furniture and vehicles | 24 | - | €3,197 | +€3,197 | |
| Financial fixed assets | 28 | €9,489 | €25,120 | +€15,631 | +165% |
| Current assets | 29/58 | €1,399,146 | €1,180,651 | -€218,495 | -15.6% |
| Stocks and contracts in progress | 3 | €1,139,838 | €862,285 | -€277,553 | -24.4% |
| Stocks | 30/36 | €1,139,838 | €862,285 | -€277,553 | -24.4% |
| Amounts receivable within one year | 40/41 | €163,612 | €250,801 | +€87,189 | +53.3% |
| Trade receivables | 40 | €158,396 | €247,214 | +€88,818 | +56.1% |
| Other amounts receivable | 41 | €5,216 | €3,586 | -€1,630 | -31.2% |
| Cash at bank and in hand | 54/58 | €94,284 | €66,137 | -€28,147 | -29.9% |
| Deferred charges and accrued income | 490/1 | €1,412 | €1,429 | +€17 | +1.2% |
| Total equity and liabilities | 10/49 | €1,461,601 | €1,417,747 | -€43,854 | -3.0% |
| Equity | 10/15 | -€160,508 | -€121,083 | +€39,425 | +24.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,508 | -€141,083 | +€39,425 | +21.8% |
| Amounts payable | 17/49 | €1,622,109 | €1,538,830 | -€83,279 | -5.1% |
| Amounts payable after more than one year | 17 | €585,000 | €596,500 | +€11,500 | +2.0% |
| Financial debts | 170/4 | €585,000 | €596,500 | +€11,500 | +2.0% |
| Amounts payable within one year | 42/48 | €1,030,310 | €935,090 | -€95,220 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €132,000 | €90,000 | -€42,000 | -31.8% |
| Trade debts | 44 | €14,867 | €17,649 | +€2,782 | +18.7% |
| Suppliers | 440/4 | €14,867 | €17,649 | +€2,782 | +18.7% |
| Taxes, remuneration and social security | 45 | €98,368 | €43,356 | -€55,013 | -55.9% |
| Taxes | 450/3 | €73,985 | €32,277 | -€41,708 | -56.4% |
| Remuneration and social security | 454/9 | €24,383 | €11,078 | -€13,305 | -54.6% |
| Other amounts payable | 47/48 | €785,075 | €784,086 | -€989 | -0.1% |
| Accrued charges and deferred income | 492/3 | €6,799 | €7,240 | +€441 | +6.5% |
| Remuneration, social security and pensions | 62 | €134,495 | €85,508 | -€48,987 | -36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,295 | €15,598 | +€303 | +2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €285,553 | - | -€285,553 | |
| Other operating charges | 640/8 | €24,662 | €12,922 | -€11,741 | -47.6% |
| Non-recurring operating charges | 66A | €38 | - | -€38 | |
| Gross operating margin | 9900 | €119,699 | €169,253 | +€49,554 | +41.4% |
| Operating profit (loss) | 9901 | -€340,344 | €55,226 | +€395,570 | |
| Financial income | 75/76B | €9,167 | €4,762 | -€4,405 | -48.1% |
| Recurring financial income | 75 | €9,167 | €4,762 | -€4,405 | -48.1% |
| Financial charges | 65/66B | €16,558 | €20,562 | +€4,004 | +24.2% |
| Recurring financial charges | 65 | €16,558 | €20,562 | +€4,004 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | -€347,736 | €39,425 | +€387,161 | |
| Profit (loss) for the period | 9904 | -€347,736 | €39,425 | +€387,161 | |
| Profit (loss) for the period to be appropriated | 9905 | -€347,736 | €39,425 | +€387,161 |
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 26 October 2026 via checked.be.