HOCO: 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.
HOCO
Largest movements
- Tangible fixed assets +€100,580
up €100,580 (+9.9%), from €1.0m to €1.1m
of which Land and buildings: +€102,340
- Cash -€12,860
down €12,860 (-51.4%), from €25,017 to €12,157
mainly Investment in fixed assets (net) (-€190,443) and Debts after one year (-€45,344)
- Revaluation surpluses +€177,546
new in 2024: €177,546
- Debts after one year -€45,344
down €45,344 (-4.5%), from €1.0m to €971,823
- Profit (loss) carried forward -€35,867
down €35,867 (-23.3%), from -€153,868 to -€189,736
- Current portion of long-term debt -€31,206
down €31,206 (-35.8%), from €87,183 to €55,977
- Other debts +€20,811
up €20,811 (+87.6%), from €23,770 to €44,580
- Gross operating margin -€94,594
down €94,594 (-22.6%), from €417,894 to €323,300
- Staff costs -€77,939
down €77,939 (-23.7%), from €329,250 to €251,311
- Financial charges -€8,445
down €8,445 (-36.4%), from €23,192 to €14,747
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,127,586 | €1,227,712 | +€100,125 | +8.9% |
| Fixed assets | 21/28 | €1,017,586 | €1,118,166 | +€100,580 | +9.9% |
| Tangible fixed assets | 22/27 | €1,017,256 | €1,117,836 | +€100,580 | +9.9% |
| Land and buildings | 22 | €921,062 | €1,023,402 | +€102,340 | +11.1% |
| Plant, machinery and equipment | 23 | €4,769 | €5,619 | +€850 | +17.8% |
| Furniture and vehicles | 24 | €91,424 | €88,815 | -€2,610 | -2.9% |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €110,000 | €109,546 | -€455 | -0.4% |
| Stocks and contracts in progress | 3 | €10,000 | €12,000 | +€2,000 | +20.0% |
| Stocks | 30/36 | €10,000 | €12,000 | +€2,000 | +20.0% |
| Amounts receivable within one year | 40/41 | €71,582 | €80,783 | +€9,201 | +12.9% |
| Trade receivables | 40 | €102 | €755 | +€653 | +642% |
| Other amounts receivable | 41 | €71,480 | €80,028 | +€8,548 | +12.0% |
| Cash at bank and in hand | 54/58 | €25,017 | €12,157 | -€12,860 | -51.4% |
| Deferred charges and accrued income | 490/1 | €3,401 | €4,605 | +€1,204 | +35.4% |
| Total equity and liabilities | 10/49 | €1,127,586 | €1,227,712 | +€100,125 | +8.9% |
| Equity | 10/15 | -€82,283 | €54,845 | +€137,128 | |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €177,546 | +€177,546 | |
| Profit (loss) carried forward | 14 | -€153,868 | -€189,736 | -€35,867 | -23.3% |
| Investment grants | 15 | €7,585 | €3,034 | -€4,551 | -60.0% |
| Amounts payable | 17/49 | €1,209,869 | €1,172,867 | -€37,002 | -3.1% |
| Amounts payable after more than one year | 17 | €1,017,167 | €971,823 | -€45,344 | -4.5% |
| Financial debts | 170/4 | €1,017,167 | €971,823 | -€45,344 | -4.5% |
| Amounts payable within one year | 42/48 | €189,703 | €200,984 | +€11,281 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €87,183 | €55,977 | -€31,206 | -35.8% |
| Financial debts | 43 | €770 | €759 | -€11 | -1.4% |
| Credit institutions | 430/8 | €770 | €759 | -€11 | -1.4% |
| Trade debts | 44 | €59,239 | €68,615 | +€9,377 | +15.8% |
| Suppliers | 440/4 | €59,239 | €68,615 | +€9,377 | +15.8% |
| Taxes, remuneration and social security | 45 | €18,742 | €31,052 | +€12,311 | +65.7% |
| Taxes | 450/3 | €18,742 | €31,052 | +€12,311 | +65.7% |
| Other amounts payable | 47/48 | €23,770 | €44,580 | +€20,811 | +87.6% |
| Accrued charges and deferred income | 492/3 | €3,000 | €60 | -€2,940 | -98.0% |
| Non-recurring operating income | 76A | - | €1,043 | +€1,043 | |
| Remuneration, social security and pensions | 62 | €329,250 | €251,311 | -€77,939 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,370 | €89,862 | +€493 | +0.6% |
| Other operating charges | 640/8 | €10,897 | €7,723 | -€3,175 | -29.1% |
| Gross operating margin | 9900 | €417,894 | €323,300 | -€94,594 | -22.6% |
| Operating profit (loss) | 9901 | -€11,623 | -€25,597 | -€13,974 | -120% |
| Financial income | 75/76B | €4,571 | €4,756 | +€185 | +4.0% |
| Recurring financial income | 75 | €4,571 | €4,756 | +€185 | +4.0% |
| Financial charges | 65/66B | €23,192 | €14,747 | -€8,445 | -36.4% |
| Recurring financial charges | 65 | €23,192 | €14,747 | -€8,445 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | -€30,244 | -€35,588 | -€5,344 | -17.7% |
| Income taxes | 67/77 | €239 | €279 | +€40 | +16.9% |
| Profit (loss) for the period | 9904 | -€30,483 | -€35,867 | -€5,385 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,483 | -€35,867 | -€5,385 | -17.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.