HODWINRY: 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.
HODWINRY
Largest movements
- Cash -€19,715
no longer reported in 2026 (was €19,715)
mainly Contributions, distributions and other (-€106,000) and Current investments (-€11,618)
- Current investments +€11,618
new in 2026: €11,618
- Receivables after one year -€9,991
down €9,991 (-32.3%), from €30,894 to €20,902
- Receivables within one year +€9,813
up €9,813 (+12.2%), from €80,150 to €89,963
of which Trade receivables: +€8,517
- Reserves -€104,000
down €104,000 (-82.3%), from €126,300 to €22,300
of which Distributable reserves: -€104,000
- Other debts +€89,059
up €89,059 (+126.2%), from €70,588 to €159,647
- Tax, wage and social debts +€9,502
up €9,502 (+294.6%), from €3,225 to €12,727
- Gross operating margin -€3,132
down €3,132 (-23.7%), from €13,190 to €10,058
- Taxes -€1,711
down €1,711 (-62.0%), from €2,760 to €1,048
- Financial charges +€1,022
up €1,022 (+15.8%), from €6,452 to €7,475
- Financial income +€505
up €505 (+16.7%), from €3,029 to €3,534
- Depreciation -€405
down €405 (-15.5%), from €2,612 to €2,207
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.
Cash bridge derived
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 | €204,166 | €197,793 | -€6,373 | -3.1% |
| Fixed assets | 21/28 | €72,114 | €74,017 | +€1,903 | +2.6% |
| Tangible fixed assets | 22/27 | €62,114 | €64,017 | +€1,903 | +3.1% |
| Land and buildings | 22 | €52,000 | €52,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,513 | €11,216 | +€2,703 | +31.8% |
| Furniture and vehicles | 24 | €1,601 | €801 | -€801 | -50.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €132,052 | €123,776 | -€8,276 | -6.3% |
| Amounts receivable after more than one year | 29 | €30,894 | €20,902 | -€9,991 | -32.3% |
| Other amounts receivable | 291 | €30,894 | €20,902 | -€9,991 | -32.3% |
| Stocks and contracts in progress | 3 | €1,293 | €1,293 | = | 0.0% |
| Stocks | 30/36 | €1,293 | €1,293 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,150 | €89,963 | +€9,813 | +12.2% |
| Trade receivables | 40 | €9,890 | €18,406 | +€8,517 | +86.1% |
| Other amounts receivable | 41 | €70,260 | €71,556 | +€1,296 | +1.8% |
| Current investments | 50/53 | - | €11,618 | +€11,618 | |
| Cash at bank and in hand | 54/58 | €19,715 | - | -€19,715 | |
| Total equity and liabilities | 10/49 | €204,166 | €197,793 | -€6,373 | -3.1% |
| Equity | 10/15 | €128,909 | €24,948 | -€103,960 | -80.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €126,300 | €22,300 | -€104,000 | -82.3% |
| Tax-exempt reserves | 132 | €4,300 | €4,300 | = | 0.0% |
| Distributable reserves | 133 | €122,000 | €18,000 | -€104,000 | -85.2% |
| Profit (loss) carried forward | 14 | €609 | €648 | +€40 | +6.5% |
| Amounts payable | 17/49 | €75,258 | €172,845 | +€97,587 | +129.7% |
| Amounts payable within one year | 42/48 | €75,258 | €172,845 | +€97,587 | +129.7% |
| Trade debts | 44 | €1,445 | €471 | -€974 | -67.4% |
| Suppliers | 440/4 | €1,445 | €471 | -€974 | -67.4% |
| Taxes, remuneration and social security | 45 | €3,225 | €12,727 | +€9,502 | +294.6% |
| Taxes | 450/3 | €3,225 | €12,727 | +€9,502 | +294.6% |
| Other amounts payable | 47/48 | €70,588 | €159,647 | +€89,059 | +126.2% |
| Remuneration, social security and pensions | 62 | €112 | - | -€112 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,612 | €2,207 | -€405 | -15.5% |
| Other operating charges | 640/8 | €799 | €821 | +€23 | +2.9% |
| Gross operating margin | 9900 | €13,190 | €10,058 | -€3,132 | -23.7% |
| Operating profit (loss) | 9901 | €9,668 | €7,029 | -€2,639 | -27.3% |
| Financial income | 75/76B | €3,029 | €3,534 | +€505 | +16.7% |
| Recurring financial income | 75 | €3,029 | €3,534 | +€505 | +16.7% |
| Financial charges | 65/66B | €6,452 | €7,475 | +€1,022 | +15.8% |
| Recurring financial charges | 65 | €6,452 | €7,475 | +€1,022 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €6,245 | €3,088 | -€3,157 | -50.6% |
| Income taxes | 67/77 | €2,760 | €1,048 | -€1,711 | -62.0% |
| Profit (loss) for the period | 9904 | €3,485 | €2,040 | -€1,445 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,485 | €2,040 | -€1,445 | -41.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.