HOCON: 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.
What changed
HOCON
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€49,255
2024 · €80,380-€31,125
Equity
€1.6m
2024 · €1.6m+€49,255
Cash
€43,344
2024 · €21,321+€22,023
Balance sheet total
€2.2m
2024 · €2.1m+€142,280
Largest movements
Assets
- Receivables within one year +€263,287
up €263,287 (+64.0%), from €411,392 to €674,679
of which Trade receivables: +€261,521
- Tangible fixed assets -€142,251
down €142,251 (-8.8%), from €1.6m to €1.5m
of which Land and buildings: -€135,800
Equity and liabilities
- Tax, wage and social debts +€95,985
up €95,985 (+49.3%), from €194,536 to €290,521
of which Taxes: +€77,312
- Profit (loss) carried forward +€49,255
up €49,255 (+3.1%), from €1.6m to €1.6m
Income statement
- Staff costs +€102,578
up €102,578 (+6.6%), from €1.6m to €1.7m
- Gross operating margin +€67,633
up €67,633 (+3.5%), from €1.9m to €2.0m
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.
Result 2024
€80,380
Gross operating margin
+€67,633
Staff costs
-€102,578
Depreciation
+€3,539
Other operating charges
+€1,166
Financial income
-€100
Financial charges
-€7,445
Taxes
+€6,661
Result 2025
€49,255
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.
From operations
+€73,687
Investment
-€51,664
Financing
€0
Cash 2024
€21,321
From operations (derived)
+€73,687
Net result for the year
+€49,255
Depreciation
+€193,916
Receivables within one year
-€263,287
Deferred charges and accrued income
+€778
Trade debts
-€2,960
Tax, wage and social debts
+€95,985
Investment (derived)
-€51,664
Investment in fixed assets (net)
-€51,664
Cash 2025
€43,344
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,081,025 | €2,223,305 | +€142,280 | +6.8% |
| Fixed assets | 21/28 | €1,618,438 | €1,476,187 | -€142,251 | -8.8% |
| Tangible fixed assets | 22/27 | €1,618,388 | €1,476,137 | -€142,251 | -8.8% |
| Land and buildings | 22 | €1,475,377 | €1,339,578 | -€135,800 | -9.2% |
| Furniture and vehicles | 24 | €143,011 | €132,439 | -€10,572 | -7.4% |
| Other tangible fixed assets | 26 | - | €4,121 | +€4,121 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €462,586 | €747,118 | +€284,532 | +61.5% |
| Amounts receivable within one year | 40/41 | €411,392 | €674,679 | +€263,287 | +64.0% |
| Trade receivables | 40 | €411,392 | €672,913 | +€261,521 | +63.6% |
| Other amounts receivable | 41 | €0 | €1,766 | +€1,766 | |
| Cash at bank and in hand | 54/58 | €21,321 | €43,344 | +€22,023 | +103.3% |
| Deferred charges and accrued income | 490/1 | €29,873 | €29,095 | -€778 | -2.6% |
| Total equity and liabilities | 10/49 | €2,081,025 | €2,223,305 | +€142,280 | +6.8% |
| Equity | 10/15 | €1,585,931 | €1,635,186 | +€49,255 | +3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,577,876 | €1,627,131 | +€49,255 | +3.1% |
| Provisions and deferred taxes | 16 | €198,188 | €198,188 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €198,188 | €198,188 | = | 0.0% |
| Other liabilities and charges | 164/5 | €198,188 | €198,188 | = | 0.0% |
| Amounts payable | 17/49 | €296,906 | €389,932 | +€93,025 | +31.3% |
| Amounts payable within one year | 42/48 | €296,906 | €389,932 | +€93,025 | +31.3% |
| Trade debts | 44 | €96,371 | €93,411 | -€2,960 | -3.1% |
| Suppliers | 440/4 | €96,371 | €93,411 | -€2,960 | -3.1% |
| Advances received on contracts in progress | 46 | €6,000 | €6,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €194,536 | €290,521 | +€95,985 | +49.3% |
| Taxes | 450/3 | €49,481 | €126,793 | +€77,312 | +156.2% |
| Remuneration and social security | 454/9 | €145,055 | €163,728 | +€18,673 | +12.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,221 | €47,562 | +€35,341 | +289.2% |
| Remuneration, social security and pensions | 62 | €1,563,463 | €1,666,041 | +€102,578 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €197,455 | €193,916 | -€3,539 | -1.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €14,575 | €13,409 | -€1,166 | -8.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,906,055 | €1,973,688 | +€67,633 | +3.5% |
| Operating profit (loss) | 9901 | €130,562 | €100,321 | -€30,241 | -23.2% |
| Financial income | 75/76B | €112 | €12 | -€100 | -89.5% |
| Recurring financial income | 75 | €112 | €12 | -€100 | -89.5% |
| Financial charges | 65/66B | €9,910 | €17,355 | +€7,445 | +75.1% |
| Recurring financial charges | 65 | €9,910 | €17,355 | +€7,445 | +75.1% |
| Profit (loss) for the period before taxes | 9903 | €120,764 | €82,979 | -€37,786 | -31.3% |
| Income taxes | 67/77 | €40,385 | €33,724 | -€6,661 | -16.5% |
| Profit (loss) for the period | 9904 | €80,380 | €49,255 | -€31,125 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €80,380 | €49,255 | -€31,125 | -38.7% |
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.