HOBEL: 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.
HOBEL
Largest movements
- Receivables within one year -€88,794
down €88,794 (-74.6%), from €119,062 to €30,268
of which Trade receivables: -€88,794
- Tangible fixed assets +€80,011
up €80,011 (+23.1%), from €346,162 to €426,172
of which Other tangible fixed assets: +€123,751
- Cash +€15,562
up €15,562 (+220.0%), from €7,075 to €22,637
mainly Receivables within one year (+€88,794) and Depreciation (+€66,412)
- Profit (loss) carried forward +€37,641
up €37,641 (+9.4%), from €400,195 to €437,835
- Trade debts -€16,596
down €16,596 (-80.4%), from €20,629 to €4,033
- Tax, wage and social debts -€14,315
down €14,315 (-52.4%), from €27,344 to €13,029
- Gross operating margin -€26,677
down €26,677 (-17.8%), from €150,060 to €123,383
- Depreciation +€18,650
up €18,650 (+39.0%), from €47,762 to €66,412
- Taxes -€7,217
down €7,217 (-28.6%), from €25,239 to €18,021
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 | €473,070 | €479,852 | +€6,782 | +1.4% |
| Fixed assets | 21/28 | €346,162 | €426,172 | +€80,011 | +23.1% |
| Tangible fixed assets | 22/27 | €346,162 | €426,172 | +€80,011 | +23.1% |
| Furniture and vehicles | 24 | €222,634 | €178,894 | -€43,741 | -19.6% |
| Other tangible fixed assets | 26 | €123,527 | €247,279 | +€123,751 | +100.2% |
| Current assets | 29/58 | €126,908 | €53,680 | -€73,228 | -57.7% |
| Amounts receivable within one year | 40/41 | €119,062 | €30,268 | -€88,794 | -74.6% |
| Trade receivables | 40 | €119,062 | €30,268 | -€88,794 | -74.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €7,075 | €22,637 | +€15,562 | +220.0% |
| Deferred charges and accrued income | 490/1 | €771 | €774 | +€4 | +0.5% |
| Total equity and liabilities | 10/49 | €473,070 | €479,852 | +€6,782 | +1.4% |
| Equity | 10/15 | €425,097 | €462,738 | +€37,641 | +8.9% |
| Contributions | 10/11 | €18,036 | €18,036 | = | 0.0% |
| Reserves | 13 | €6,867 | €6,867 | = | 0.0% |
| Distributable reserves | 133 | €6,867 | €6,867 | = | 0.0% |
| Profit (loss) carried forward | 14 | €400,195 | €437,835 | +€37,641 | +9.4% |
| Amounts payable | 17/49 | €47,972 | €17,114 | -€30,858 | -64.3% |
| Amounts payable within one year | 42/48 | €47,972 | €17,114 | -€30,858 | -64.3% |
| Trade debts | 44 | €20,629 | €4,033 | -€16,596 | -80.4% |
| Suppliers | 440/4 | €20,629 | €4,033 | -€16,596 | -80.4% |
| Taxes, remuneration and social security | 45 | €27,344 | €13,029 | -€14,315 | -52.4% |
| Taxes | 450/3 | €27,344 | €13,029 | -€14,315 | -52.4% |
| Other amounts payable | 47/48 | - | €52 | +€52 | |
| Non-recurring operating income | 76A | €21,362 | €0 | -€21,362 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,762 | €66,412 | +€18,650 | +39.0% |
| Other operating charges | 640/8 | €990 | €1,097 | +€107 | +10.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €150,060 | €123,383 | -€26,677 | -17.8% |
| Operating profit (loss) | 9901 | €101,308 | €55,874 | -€45,434 | -44.8% |
| Financial income | 75/76B | €405 | €294 | -€111 | -27.4% |
| Recurring financial income | 75 | €405 | €294 | -€111 | -27.4% |
| Financial charges | 65/66B | €489 | €506 | +€17 | +3.5% |
| Recurring financial charges | 65 | €489 | €506 | +€17 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €101,224 | €55,662 | -€45,562 | -45.0% |
| Income taxes | 67/77 | €25,239 | €18,021 | -€7,217 | -28.6% |
| Profit (loss) for the period | 9904 | €75,986 | €37,641 | -€38,345 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €75,986 | €37,641 | -€38,345 | -50.5% |
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 10 October 2026 via checked.be.