H.O.O.4.: 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.O.4.
Largest movements
- Tangible fixed assets +€273,086
up €273,086 (+19.9%), from €1.4m to €1.6m
of which Land and buildings: +€273,722
- Cash -€154,140
down €154,140 (-79.5%), from €193,837 to €39,697
mainly Investment in fixed assets (net) (-€380,614) and Accrued charges and deferred income (-€9,960)
- Debts after one year +€117,846
new in 2025: €117,846
- Gross operating margin +€12,216
up €12,216 (+10.0%), from €121,637 to €133,853
- Depreciation -€9,679
down €9,679 (-8.3%), from €117,208 to €107,528
- Other operating charges +€2,451
up €2,451 (+10.9%), from €22,419 to €24,870
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 | €1,569,230 | €1,689,670 | +€120,440 | +7.7% |
| Fixed assets | 21/28 | €1,371,793 | €1,644,879 | +€273,086 | +19.9% |
| Tangible fixed assets | 22/27 | €1,371,143 | €1,644,229 | +€273,086 | +19.9% |
| Land and buildings | 22 | €1,368,527 | €1,642,249 | +€273,722 | +20.0% |
| Plant, machinery and equipment | 23 | €2,616 | €1,980 | -€636 | -24.3% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €197,437 | €44,791 | -€152,646 | -77.3% |
| Amounts receivable within one year | 40/41 | €1,576 | €2,985 | +€1,409 | +89.4% |
| Trade receivables | 40 | €1,576 | €2,653 | +€1,077 | +68.3% |
| Other amounts receivable | 41 | - | €332 | +€332 | |
| Cash at bank and in hand | 54/58 | €193,837 | €39,697 | -€154,140 | -79.5% |
| Deferred charges and accrued income | 490/1 | €2,024 | €2,109 | +€85 | +4.2% |
| Total equity and liabilities | 10/49 | €1,569,230 | €1,689,670 | +€120,440 | +7.7% |
| Equity | 10/15 | €780,251 | €781,958 | +€1,706 | +0.2% |
| Contributions | 10/11 | €731,951 | €731,951 | = | 0.0% |
| Capital | 10 | €731,951 | €731,951 | = | 0.0% |
| Issued capital | 100 | €731,951 | €731,951 | = | 0.0% |
| Reserves | 13 | €72,916 | €69,971 | -€2,945 | -4.0% |
| Tax-exempt reserves | 132 | €46,436 | €43,492 | -€2,945 | -6.3% |
| Distributable reserves | 133 | €26,480 | €26,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,615 | -€19,964 | +€4,651 | +18.9% |
| Provisions and deferred taxes | 16 | €11,609 | €10,873 | -€736 | -6.3% |
| Deferred taxes | 168 | €11,609 | €10,873 | -€736 | -6.3% |
| Amounts payable | 17/49 | €777,369 | €896,839 | +€119,470 | +15.4% |
| Amounts payable after more than one year | 17 | - | €117,846 | +€117,846 | |
| Financial debts | 170/4 | - | €117,846 | +€117,846 | |
| Amounts payable within one year | 42/48 | €744,558 | €756,141 | +€11,584 | +1.6% |
| Trade debts | 44 | €440 | €543 | +€103 | +23.3% |
| Suppliers | 440/4 | €440 | €543 | +€103 | +23.3% |
| Taxes, remuneration and social security | 45 | €2,306 | €3,148 | +€842 | +36.5% |
| Taxes | 450/3 | €2,306 | €3,148 | +€842 | +36.5% |
| Other amounts payable | 47/48 | €741,811 | €752,450 | +€10,639 | +1.4% |
| Accrued charges and deferred income | 492/3 | €32,812 | €22,852 | -€9,960 | -30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,208 | €107,528 | -€9,679 | -8.3% |
| Other operating charges | 640/8 | €22,419 | €24,870 | +€2,451 | +10.9% |
| Gross operating margin | 9900 | €121,637 | €133,853 | +€12,216 | +10.0% |
| Operating profit (loss) | 9901 | -€17,990 | €1,454 | +€19,444 | |
| Financial income | 75/76B | €96 | - | -€96 | |
| Recurring financial income | 75 | €96 | - | -€96 | |
| Financial charges | 65/66B | €171 | €484 | +€313 | +182% |
| Recurring financial charges | 65 | €171 | €484 | +€313 | +182% |
| Profit (loss) for the period before taxes | 9903 | -€18,065 | €970 | +€19,035 | |
| Transfer from deferred taxes | 780 | €736 | €736 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€17,329 | €1,706 | +€19,035 | |
| Transfer from tax-exempt reserves | 789 | €2,945 | €2,945 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,384 | €4,651 | +€19,035 |
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 29 October 2026 via checked.be.