HODA: 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.
HODA
Largest movements
- Tangible fixed assets +€251,197
up €251,197 (+695.4%), from €36,124 to €287,321
of which Land and buildings: +€208,987
- Receivables within one year +€18,970
up €18,970 (+42.0%), from €45,210 to €64,179
of which Other amounts receivable: +€43,916
- Intangible fixed assets +€8,010
new in 2025: €8,010
- Debts after one year +€178,632
new in 2025: €178,632
- Reserves +€67,000
up €67,000 (+98.5%), from €68,000 to €135,000
- Trade debts +€34,819
up €34,819 (+653.3%), from €5,329 to €40,148
- Advances received -€20,116
down €20,116 (-73.8%), from €27,254 to €7,138
- Tax, wage and social debts -€19,295
down €19,295 (-90.5%), from €21,324 to €2,028
- Depreciation +€16,683
up €16,683 (+243.0%), from €6,865 to €23,548
- Gross operating margin +€10,494
up €10,494 (+10.8%), from €97,160 to €107,654
- Taxes -€4,449
down €4,449 (-24.5%), from €18,140 to €13,691
- Other operating charges -€1,382
down €1,382 (-47.9%), from €2,886 to €1,504
- Financial charges +€1,287
up €1,287 (+239.8%), from €537 to €1,823
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 | €125,143 | €400,588 | +€275,445 | +220.1% |
| Fixed assets | 21/28 | €36,124 | €295,331 | +€259,207 | +717.6% |
| Intangible fixed assets | 21 | - | €8,010 | +€8,010 | |
| Tangible fixed assets | 22/27 | €36,124 | €287,321 | +€251,197 | +695.4% |
| Land and buildings | 22 | - | €208,987 | +€208,987 | |
| Furniture and vehicles | 24 | €36,124 | €78,334 | +€42,210 | +116.8% |
| Current assets | 29/58 | €89,019 | €105,256 | +€16,238 | +18.2% |
| Amounts receivable within one year | 40/41 | €45,210 | €64,179 | +€18,970 | +42.0% |
| Trade receivables | 40 | €45,210 | €20,263 | -€24,946 | -55.2% |
| Other amounts receivable | 41 | - | €43,916 | +€43,916 | |
| Cash at bank and in hand | 54/58 | €43,809 | €41,077 | -€2,732 | -6.2% |
| Total equity and liabilities | 10/49 | €125,143 | €400,588 | +€275,445 | +220.1% |
| Equity | 10/15 | €71,236 | €138,327 | +€67,091 | +94.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €68,000 | €135,000 | +€67,000 | +98.5% |
| Distributable reserves | 133 | €68,000 | €135,000 | +€67,000 | +98.5% |
| Profit (loss) carried forward | 14 | €736 | €827 | +€91 | +12.3% |
| Amounts payable | 17/49 | €53,907 | €262,261 | +€208,354 | +386.5% |
| Amounts payable after more than one year | 17 | - | €178,632 | +€178,632 | |
| Financial debts | 170/4 | - | €178,632 | +€178,632 | |
| Amounts payable within one year | 42/48 | €53,907 | €83,629 | +€29,722 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | - | €15,339 | +€15,339 | |
| Trade debts | 44 | €5,329 | €40,148 | +€34,819 | +653.3% |
| Suppliers | 440/4 | €5,329 | €40,148 | +€34,819 | +653.3% |
| Advances received on contracts in progress | 46 | €27,254 | €7,138 | -€20,116 | -73.8% |
| Taxes, remuneration and social security | 45 | €21,324 | €2,028 | -€19,295 | -90.5% |
| Taxes | 450/3 | €21,324 | €2,028 | -€19,295 | -90.5% |
| Other amounts payable | 47/48 | - | €18,976 | +€18,976 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,865 | €23,548 | +€16,683 | +243.0% |
| Other operating charges | 640/8 | €2,886 | €1,504 | -€1,382 | -47.9% |
| Gross operating margin | 9900 | €97,160 | €107,654 | +€10,494 | +10.8% |
| Operating profit (loss) | 9901 | €87,409 | €82,602 | -€4,807 | -5.5% |
| Financial income | 75/76B | €3 | €2 | -€1 | -24.8% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -24.8% |
| Financial charges | 65/66B | €537 | €1,823 | +€1,287 | +239.8% |
| Recurring financial charges | 65 | €537 | €1,823 | +€1,287 | +239.8% |
| Profit (loss) for the period before taxes | 9903 | €86,876 | €80,782 | -€6,094 | -7.0% |
| Income taxes | 67/77 | €18,140 | €13,691 | -€4,449 | -24.5% |
| Profit (loss) for the period | 9904 | €68,736 | €67,091 | -€1,645 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,736 | €67,091 | -€1,645 | -2.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.