HOAS: what changed
Two fiscal 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.
HOAS
Largest movements
- Financial fixed assets +€4,000
new in 2025: €4,000
- Cash +€3,411
up €3,411 (+9.2%), from €37,110 to €40,520
mainly Net result for the year (+€32,607) and Other debts (+€11,700)
- Tangible fixed assets -€3,151
down €3,151 (-29.4%), from €10,701 to €7,550
of which Furniture and vehicles: -€1,772
- Other debts +€11,700
new in 2025: €11,700
- Reserves -€9,393
down €9,393 (-19.2%), from €48,932 to €39,539
of which Distributable reserves: -€7,393
No income-statement line moved by more than 1% of the activity.
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.
Cash bridge derived
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 | €90,008 | €93,490 | +€3,482 | +3.9% |
| Fixed assets | 21/28 | €10,701 | €11,550 | +€849 | +7.9% |
| Tangible fixed assets | 22/27 | €10,701 | €7,550 | -€3,151 | -29.4% |
| Plant, machinery and equipment | 23 | €164 | - | -€164 | |
| Furniture and vehicles | 24 | €6,677 | €4,905 | -€1,772 | -26.5% |
| Other tangible fixed assets | 26 | €3,860 | €2,645 | -€1,215 | -31.5% |
| Financial fixed assets | 28 | - | €4,000 | +€4,000 | |
| Current assets | 29/58 | €79,308 | €81,940 | +€2,633 | +3.3% |
| Amounts receivable within one year | 40/41 | €40,365 | €39,606 | -€758 | -1.9% |
| Trade receivables | 40 | €40,365 | €39,606 | -€758 | -1.9% |
| Current investments | 50/53 | €973 | €925 | -€48 | -4.9% |
| Cash at bank and in hand | 54/58 | €37,110 | €40,520 | +€3,411 | +9.2% |
| Deferred charges and accrued income | 490/1 | €861 | €889 | +€28 | +3.3% |
| Total equity and liabilities | 10/49 | €90,008 | €93,490 | +€3,482 | +3.9% |
| Equity | 10/15 | €68,932 | €59,539 | -€9,393 | -13.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €48,932 | €39,539 | -€9,393 | -19.2% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Other | 1319 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €46,932 | €39,539 | -€7,393 | -15.8% |
| Amounts payable | 17/49 | €21,076 | €33,951 | +€12,875 | +61.1% |
| Amounts payable within one year | 42/48 | €21,076 | €33,951 | +€12,875 | +61.1% |
| Trade debts | 44 | €2,478 | €3,386 | +€908 | +36.6% |
| Suppliers | 440/4 | €2,478 | €3,386 | +€908 | +36.6% |
| Taxes, remuneration and social security | 45 | €18,598 | €18,865 | +€267 | +1.4% |
| Taxes | 450/3 | €18,598 | €18,865 | +€267 | +1.4% |
| Other amounts payable | 47/48 | - | €11,700 | +€11,700 | |
| Non-recurring operating income | 76A | - | €1,653 | +€1,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,013 | €4,571 | -€442 | -8.8% |
| Other operating charges | 640/8 | €2,396 | €1,992 | -€404 | -16.9% |
| Gross operating margin | 9900 | €50,912 | €51,015 | +€103 | +0.2% |
| Operating profit (loss) | 9901 | €43,503 | €44,451 | +€948 | +2.2% |
| Financial income | 75/76B | €32 | - | -€32 | |
| Recurring financial income | 75 | €32 | - | -€32 | |
| Financial charges | 65/66B | -€346 | €144 | +€489 | |
| Recurring financial charges | 65 | -€346 | €144 | +€489 | |
| Profit (loss) for the period before taxes | 9903 | €43,880 | €44,307 | +€427 | +1.0% |
| Income taxes | 67/77 | €11,920 | €11,700 | -€220 | -1.8% |
| Profit (loss) for the period | 9904 | €31,961 | €32,607 | +€647 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,961 | €32,607 | +€647 | +2.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.