HOBRU: 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.
HOBRU
Largest movements
- Tangible fixed assets +€909,583
up €909,583 (+41.7%), from €2.2m to €3.1m
of which Land and buildings: +€920,817
- Receivables within one year +€65,350
up €65,350 (+18720.1%), from €349 to €65,699
of which Trade receivables: +€65,693
- Cash -€52,922
down €52,922 (-61.5%), from €86,097 to €33,175
mainly Investment in fixed assets (net) (-€1.1m) and Other debts (-€67,025)
- Debts after one year +€921,486
up €921,486 (+47.5%), from €1.9m to €2.9m
- Other debts -€67,025
down €67,025 (-38.8%), from €172,708 to €105,683
- Current portion of long-term debt +€63,251
up €63,251 (+73.1%), from €86,537 to €149,788
- Gross operating margin +€114,807
up €114,807 (+58.0%), from €197,801 to €312,608
- Depreciation +€110,652
up €110,652 (+102.3%), from €108,147 to €218,798
- Financial charges +€16,384
up €16,384 (+35.3%), from €46,474 to €62,857
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 | €2,268,108 | €3,195,917 | +€927,809 | +40.9% |
| Fixed assets | 21/28 | €2,179,114 | €3,088,697 | +€909,583 | +41.7% |
| Tangible fixed assets | 22/27 | €2,179,114 | €3,088,697 | +€909,583 | +41.7% |
| Land and buildings | 22 | €2,142,328 | €3,063,145 | +€920,817 | +43.0% |
| Furniture and vehicles | 24 | €36,785 | €25,551 | -€11,234 | -30.5% |
| Current assets | 29/58 | €88,994 | €107,220 | +€18,226 | +20.5% |
| Amounts receivable within one year | 40/41 | €349 | €65,699 | +€65,350 | +18720.1% |
| Trade receivables | 40 | - | €65,693 | +€65,693 | |
| Other amounts receivable | 41 | €349 | €5 | -€344 | -98.4% |
| Current investments | 50/53 | €1,533 | €2,722 | +€1,189 | +77.6% |
| Cash at bank and in hand | 54/58 | €86,097 | €33,175 | -€52,922 | -61.5% |
| Deferred charges and accrued income | 490/1 | €1,015 | €5,624 | +€4,609 | +453.9% |
| Total equity and liabilities | 10/49 | €2,268,108 | €3,195,917 | +€927,809 | +40.9% |
| Equity | 10/15 | €45,773 | €58,766 | +€12,992 | +28.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €25,773 | €38,766 | +€12,992 | +50.4% |
| Distributable reserves | 133 | €25,773 | €38,766 | +€12,992 | +50.4% |
| Amounts payable | 17/49 | €2,222,335 | €3,137,151 | +€914,816 | +41.2% |
| Amounts payable after more than one year | 17 | €1,940,875 | €2,862,362 | +€921,486 | +47.5% |
| Financial debts | 170/4 | €1,940,875 | €2,862,362 | +€921,486 | +47.5% |
| Amounts payable within one year | 42/48 | €281,460 | €274,789 | -€6,670 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €86,537 | €149,788 | +€63,251 | +73.1% |
| Trade debts | 44 | €4,025 | €4,401 | +€376 | +9.3% |
| Suppliers | 440/4 | €4,025 | €4,401 | +€376 | +9.3% |
| Taxes, remuneration and social security | 45 | €18,189 | €14,917 | -€3,272 | -18.0% |
| Taxes | 450/3 | €18,189 | €14,917 | -€3,272 | -18.0% |
| Other amounts payable | 47/48 | €172,708 | €105,683 | -€67,025 | -38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,147 | €218,798 | +€110,652 | +102.3% |
| Other operating charges | 640/8 | €13,019 | €13,511 | +€492 | +3.8% |
| Non-recurring operating charges | 66A | €2,094 | - | -€2,094 | |
| Gross operating margin | 9900 | €197,801 | €312,608 | +€114,807 | +58.0% |
| Operating profit (loss) | 9901 | €74,541 | €80,299 | +€5,758 | +7.7% |
| Financial income | 75/76B | - | €120 | +€120 | |
| Recurring financial income | 75 | - | €120 | +€120 | |
| Financial charges | 65/66B | €46,474 | €62,857 | +€16,384 | +35.3% |
| Recurring financial charges | 65 | €46,474 | €62,857 | +€16,384 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €28,068 | €17,561 | -€10,506 | -37.4% |
| Income taxes | 67/77 | €6,543 | €4,569 | -€1,974 | -30.2% |
| Profit (loss) for the period | 9904 | €21,525 | €12,992 | -€8,532 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,525 | €12,992 | -€8,532 | -39.6% |
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 7 October 2026 via checked.be.