HOBO: 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.
HOBO
Largest movements
- Current investments -€1.4m
down €1.4m (-66.7%), from €2.1m to €700,000
- Cash +€360,766
up €360,766 (+15.8%), from €2.3m to €2.6m
mainly Current investments (+€1.4m) and Advances received (+€1.2m)
- Tangible fixed assets +€132,783
up €132,783 (+512%), from €25,910 to €158,693
- Intangible fixed assets +€108,968
new in 2025: €108,968
- Deferred charges and accrued income +€70,136
up €70,136 (+1,326%), from €5,288 to €75,424
- Other debts -€1.5m
down €1.5m (-100%), from €1.5m to €0
- Advances received +€1.2m
up €1.2m (+45.7%), from €2.7m to €3.9m
- Trade debts -€396,519
down €396,519 (-76.4%), from €518,678 to €122,159
- Tax, wage and social debts -€228,446
down €228,446 (-72.3%), from €316,037 to €87,591
of which Taxes: -€273,183
- Accrued charges and deferred income +€135,370
up €135,370 (+1,058%), from €12,798 to €148,167
- Gross operating margin -€132,356
down €132,356 (-10.6%), from €1.3m to €1.1m
- Staff costs +€86,163
up €86,163 (+23.3%), from €370,515 to €456,677
- Financial income +€40,170
up €40,170 (+99.4%), from €40,415 to €80,585
- Taxes -€34,649
down €34,649 (-17.3%), from €200,000 to €165,351
- Depreciation +€33,396
up €33,396 (+282%), from €11,842 to €45,238
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 | €5,873,374 | €5,115,492 | -€757,882 | -12.9% |
| Fixed assets | 21/28 | €26,195 | €267,946 | +€241,751 | +923% |
| Intangible fixed assets | 21 | - | €108,968 | +€108,968 | |
| Tangible fixed assets | 22/27 | €25,910 | €158,693 | +€132,783 | +512% |
| Plant, machinery and equipment | 23 | - | €66,028 | +€66,028 | |
| Furniture and vehicles | 24 | €11,569 | €43,598 | +€32,029 | +277% |
| Other tangible fixed assets | 26 | €14,341 | €49,066 | +€34,725 | +242% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €5,847,179 | €4,847,546 | -€999,633 | -17.1% |
| Amounts receivable within one year | 40/41 | €1,456,434 | €1,425,899 | -€30,535 | -2.1% |
| Trade receivables | 40 | €1,346,260 | €1,261,851 | -€84,409 | -6.3% |
| Other amounts receivable | 41 | €110,174 | €164,048 | +€53,874 | +48.9% |
| Current investments | 50/53 | €2,100,000 | €700,000 | -€1.4m | -66.7% |
| Cash at bank and in hand | 54/58 | €2,285,457 | €2,646,223 | +€360,766 | +15.8% |
| Deferred charges and accrued income | 490/1 | €5,288 | €75,424 | +€70,136 | +1,326% |
| Total equity and liabilities | 10/49 | €5,873,374 | €5,115,492 | -€757,882 | -12.9% |
| Equity | 10/15 | €889,115 | €873,163 | -€15,952 | -1.8% |
| Contributions | 10/11 | €32,750 | €32,750 | = | 0.0% |
| Reserves | 13 | €856,365 | €840,413 | -€15,952 | -1.9% |
| Distributable reserves | 133 | €856,365 | €840,413 | -€15,952 | -1.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,984,259 | €4,242,329 | -€741,930 | -14.9% |
| Amounts payable within one year | 42/48 | €4,971,462 | €4,094,162 | -€877,300 | -17.6% |
| Trade debts | 44 | €518,678 | €122,159 | -€396,519 | -76.4% |
| Suppliers | 440/4 | €518,678 | €122,159 | -€396,519 | -76.4% |
| Advances received on contracts in progress | 46 | €2,666,747 | €3,884,412 | +€1.2m | +45.7% |
| Taxes, remuneration and social security | 45 | €316,037 | €87,591 | -€228,446 | -72.3% |
| Taxes | 450/3 | €285,976 | €12,793 | -€273,183 | -95.5% |
| Remuneration and social security | 454/9 | €30,061 | €74,798 | +€44,737 | +149% |
| Other amounts payable | 47/48 | €1,470,000 | €0 | -€1.5m | -100% |
| Accrued charges and deferred income | 492/3 | €12,798 | €148,167 | +€135,370 | +1,058% |
| Non-recurring operating income | 76A | €75,375 | €45,973 | -€29,402 | -39.0% |
| Remuneration, social security and pensions | 62 | €370,515 | €456,677 | +€86,163 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,842 | €45,238 | +€33,396 | +282% |
| Other operating charges | 640/8 | €17,093 | €7,132 | -€9,961 | -58.3% |
| Non-recurring operating charges | 66A | €83,380 | €39,083 | -€44,297 | -53.1% |
| Gross operating margin | 9900 | €1,251,549 | €1,119,193 | -€132,356 | -10.6% |
| Operating profit (loss) | 9901 | €768,720 | €571,062 | -€197,657 | -25.7% |
| Financial income | 75/76B | €40,415 | €80,585 | +€40,170 | +99.4% |
| Recurring financial income | 75 | €40,415 | €80,585 | +€40,170 | +99.4% |
| Financial charges | 65/66B | €90,778 | €102,249 | +€11,470 | +12.6% |
| Recurring financial charges | 65 | €90,778 | €102,249 | +€11,470 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | €718,356 | €549,399 | -€168,957 | -23.5% |
| Income taxes | 67/77 | €200,000 | €165,351 | -€34,649 | -17.3% |
| Profit (loss) for the period | 9904 | €518,356 | €384,048 | -€134,308 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €518,356 | €384,048 | -€134,308 | -25.9% |
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 17 October 2026 via checked.be.