Hobar Management: 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.
Hobar Management
Largest movements
- Cash +€65,262
up €65,262 (+347.1%), from €18,801 to €84,063
mainly Net result for the year (+€247,561) and Other debts (+€139,782)
- Financial fixed assets -€39,250
down €39,250 (-10.0%), from €392,500 to €353,250
- Tangible fixed assets -€22,043
down €22,043 (-17.3%), from €127,369 to €105,326
of which Furniture and vehicles: -€16,746
- Other debts +€139,782
up €139,782 (+81.2%), from €172,179 to €311,961
- Debts after one year -€78,528
down €78,528 (-31.7%), from €247,434 to €168,905
- Reserves -€58,603
down €58,603 (-100.0%), from €58,603 to €0
- Gross operating margin +€67,972
up €67,972 (+27.7%), from €244,950 to €312,922
- Financial income +€35,986
up €35,986 (+4121.4%), from €873 to €36,859
of which Non-recurring financial income: +€36,558
- Taxes +€14,586
up €14,586 (+25.6%), from €57,067 to €71,652
- Depreciation +€5,114
up €5,114 (+35.0%), from €14,606 to €19,720
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 | €563,201 | €567,106 | +€3,905 | +0.7% |
| Fixed assets | 21/28 | €519,869 | €458,576 | -€61,293 | -11.8% |
| Tangible fixed assets | 22/27 | €127,369 | €105,326 | -€22,043 | -17.3% |
| Land and buildings | 22 | €60,748 | €55,451 | -€5,297 | -8.7% |
| Furniture and vehicles | 24 | €66,621 | €49,876 | -€16,746 | -25.1% |
| Financial fixed assets | 28 | €392,500 | €353,250 | -€39,250 | -10.0% |
| Current assets | 29/58 | €43,332 | €108,530 | +€65,198 | +150.5% |
| Amounts receivable within one year | 40/41 | €23,474 | €23,109 | -€365 | -1.6% |
| Trade receivables | 40 | €11,041 | €11,262 | +€221 | +2.0% |
| Other amounts receivable | 41 | €12,433 | €11,848 | -€586 | -4.7% |
| Cash at bank and in hand | 54/58 | €18,801 | €84,063 | +€65,262 | +347.1% |
| Deferred charges and accrued income | 490/1 | €1,057 | €1,358 | +€301 | +28.5% |
| Total equity and liabilities | 10/49 | €563,201 | €567,106 | +€3,905 | +0.7% |
| Equity | 10/15 | €63,603 | €5,000 | -€58,603 | -92.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €58,603 | €0 | -€58,603 | -100.0% |
| Distributable reserves | 133 | €58,603 | €0 | -€58,603 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €499,597 | €562,106 | +€62,509 | +12.5% |
| Amounts payable after more than one year | 17 | €247,434 | €168,905 | -€78,528 | -31.7% |
| Financial debts | 170/4 | €247,434 | €168,905 | -€78,528 | -31.7% |
| Amounts payable within one year | 42/48 | €251,678 | €392,560 | +€140,882 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €76,963 | €78,528 | +€1,565 | +2.0% |
| Trade debts | 44 | €2,016 | €2,016 | +€1 | 0.0% |
| Suppliers | 440/4 | €2,016 | €2,016 | +€1 | 0.0% |
| Taxes, remuneration and social security | 45 | €520 | €54 | -€466 | -89.6% |
| Taxes | 450/3 | €520 | €54 | -€466 | -89.6% |
| Other amounts payable | 47/48 | €172,179 | €311,961 | +€139,782 | +81.2% |
| Accrued charges and deferred income | 492/3 | €486 | €641 | +€155 | +32.0% |
| Non-recurring operating income | 76A | - | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,606 | €19,720 | +€5,114 | +35.0% |
| Other operating charges | 640/8 | €1,156 | €821 | -€334 | -28.9% |
| Non-recurring operating charges | 66A | - | €2,862 | +€2,862 | |
| Gross operating margin | 9900 | €244,950 | €312,922 | +€67,972 | +27.7% |
| Operating profit (loss) | 9901 | €229,188 | €289,519 | +€60,331 | +26.3% |
| Financial income | 75/76B | €873 | €36,859 | +€35,986 | +4121.4% |
| Recurring financial income | 75 | €873 | €301 | -€572 | -65.5% |
| Non-recurring financial income | 76B | - | €36,558 | +€36,558 | |
| Financial charges | 65/66B | €7,547 | €7,164 | -€383 | -5.1% |
| Recurring financial charges | 65 | €7,547 | €7,164 | -€383 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €222,514 | €319,214 | +€96,700 | +43.5% |
| Income taxes | 67/77 | €57,067 | €71,652 | +€14,586 | +25.6% |
| Profit (loss) for the period | 9904 | €165,447 | €247,561 | +€82,114 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €165,447 | €247,561 | +€82,114 | +49.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.