HODARI: 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.
HODARI
Largest movements
- Cash +€56,955
up €56,955 (+384%), from €14,845 to €71,801
mainly Net result for the year (+€79,794) and Depreciation (+€10,325)
- Deferred charges and accrued income +€5,842
new in 2026: €5,842
- Tangible fixed assets -€4,143
down €4,143 (-1.9%), from €222,604 to €218,461
of which Furniture and vehicles: -€3,243
- Profit (loss) carried forward +€79,794
new in 2026: €79,794
- Debts after one year -€34,582
down €34,582 (-37.3%), from €92,676 to €58,095
- Tax, wage and social debts +€7,960
up €7,960 (+98.9%), from €8,049 to €16,010
of which Taxes: +€7,939
- Trade debts +€3,782
up €3,782 (+53.5%), from €7,069 to €10,851
- Depreciation -€16,342
down €16,342 (-61.3%), from €26,667 to €10,325
- Gross operating margin +€5,342
up €5,342 (+4.7%), from €113,397 to €118,739
- Financial charges -€1,877
down €1,877 (-23.1%), from €8,114 to €6,237
- Financial income -€1,383
down €1,383 (-61.7%), from €2,243 to €860
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €264,959 | €325,520 | +€60,560 | +22.9% |
| Fixed assets | 21/28 | €222,709 | €218,566 | -€4,143 | -1.9% |
| Tangible fixed assets | 22/27 | €222,604 | €218,461 | -€4,143 | -1.9% |
| Land and buildings | 22 | €214,821 | €214,789 | -€32 | 0.0% |
| Plant, machinery and equipment | 23 | €1,814 | €945 | -€869 | -47.9% |
| Furniture and vehicles | 24 | €5,969 | €2,727 | -€3,243 | -54.3% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €42,250 | €106,954 | +€64,704 | +153% |
| Amounts receivable within one year | 40/41 | €19,406 | €21,312 | +€1,907 | +9.8% |
| Trade receivables | 40 | €18,750 | €21,312 | +€2,562 | +13.7% |
| Other amounts receivable | 41 | €656 | - | -€656 | |
| Current investments | 50/53 | €7,999 | €7,999 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,845 | €71,801 | +€56,955 | +384% |
| Deferred charges and accrued income | 490/1 | - | €5,842 | +€5,842 | |
| Total equity and liabilities | 10/49 | €264,959 | €325,520 | +€60,560 | +22.9% |
| Equity | 10/15 | €82,525 | €162,319 | +€79,794 | +96.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €80,025 | €80,025 | = | 0.0% |
| Distributable reserves | 133 | €80,025 | €80,025 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €79,794 | +€79,794 | |
| Amounts payable | 17/49 | €182,434 | €163,201 | -€19,233 | -10.5% |
| Amounts payable after more than one year | 17 | €92,676 | €58,095 | -€34,582 | -37.3% |
| Financial debts | 170/4 | €92,676 | €58,095 | -€34,582 | -37.3% |
| Amounts payable within one year | 42/48 | €89,057 | €101,904 | +€12,847 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €33,036 | €34,582 | +€1,546 | +4.7% |
| Trade debts | 44 | €7,069 | €10,851 | +€3,782 | +53.5% |
| Suppliers | 440/4 | €7,069 | €10,851 | +€3,782 | +53.5% |
| Taxes, remuneration and social security | 45 | €8,049 | €16,010 | +€7,960 | +98.9% |
| Taxes | 450/3 | €5,363 | €13,303 | +€7,939 | +148% |
| Remuneration and social security | 454/9 | €2,686 | €2,707 | +€21 | +0.8% |
| Other amounts payable | 47/48 | €40,903 | €40,463 | -€441 | -1.1% |
| Accrued charges and deferred income | 492/3 | €701 | €3,202 | +€2,501 | +357% |
| Non-recurring operating income | 76A | - | €20,296 | +€20,296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,667 | €10,325 | -€16,342 | -61.3% |
| Other operating charges | 640/8 | €1,443 | €1,354 | -€89 | -6.2% |
| Gross operating margin | 9900 | €113,397 | €118,739 | +€5,342 | +4.7% |
| Operating profit (loss) | 9901 | €85,287 | €107,061 | +€21,774 | +25.5% |
| Financial income | 75/76B | €2,243 | €860 | -€1,383 | -61.7% |
| Recurring financial income | 75 | €2,243 | €860 | -€1,383 | -61.7% |
| Financial charges | 65/66B | €8,114 | €6,237 | -€1,877 | -23.1% |
| Recurring financial charges | 65 | €8,114 | €6,237 | -€1,877 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €79,416 | €101,683 | +€22,267 | +28.0% |
| Income taxes | 67/77 | €23,007 | €21,890 | -€1,118 | -4.9% |
| Profit (loss) for the period | 9904 | €56,409 | €79,794 | +€23,385 | +41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,409 | €79,794 | +€23,385 | +41.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.