HOECKX: 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.
HOECKX
Largest movements
- Cash +€80,510
up €80,510 (+60.4%), from €133,293 to €213,803
mainly Net result for the year (+€56,437) and Depreciation (+€36,784)
- Tangible fixed assets -€36,784
down €36,784 (-3.6%), from €1.0m to €996,206
- Reserves +€56,400
up €56,400 (+20.3%), from €277,600 to €334,000
- Gross operating margin +€33,134
up €33,134 (+33.9%), from €97,868 to €131,002
- Taxes +€11,559
up €11,559 (+78.2%), from €14,773 to €26,332
- Depreciation -€1,458
down €1,458 (-3.8%), from €38,242 to €36,784
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.
Derived cash bridge
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 | €1,167,670 | €1,212,720 | +€45,050 | +3.9% |
| Fixed assets | 21/28 | €1,032,989 | €996,206 | -€36,784 | -3.6% |
| Tangible fixed assets | 22/27 | €1,032,989 | €996,206 | -€36,784 | -3.6% |
| Land and buildings | 22 | €1,032,989 | €996,206 | -€36,784 | -3.6% |
| Current assets | 29/58 | €134,681 | €216,514 | +€81,833 | +60.8% |
| Amounts receivable within one year | 40/41 | €1,178 | €2,529 | +€1,351 | +115% |
| Trade receivables | 40 | €1,178 | €2,529 | +€1,351 | +115% |
| Cash at bank and in hand | 54/58 | €133,293 | €213,803 | +€80,510 | +60.4% |
| Deferred charges and accrued income | 490/1 | €210 | €182 | -€27 | -13.1% |
| Total equity and liabilities | 10/49 | €1,167,670 | €1,212,720 | +€45,050 | +3.9% |
| Equity | 10/15 | €1,023,340 | €1,079,777 | +€56,437 | +5.5% |
| Contributions | 10/11 | €744,744 | €744,744 | = | 0.0% |
| Reserves | 13 | €277,600 | €334,000 | +€56,400 | +20.3% |
| Distributable reserves | 133 | €277,600 | €334,000 | +€56,400 | +20.3% |
| Profit (loss) carried forward | 14 | €996 | €1,033 | +€37 | +3.7% |
| Amounts payable | 17/49 | €144,330 | €132,943 | -€11,388 | -7.9% |
| Amounts payable after more than one year | 17 | €9,396 | €3,100 | -€6,296 | -67.0% |
| Other amounts payable | 178/9 | €9,396 | €3,100 | -€6,296 | -67.0% |
| Amounts payable within one year | 42/48 | €129,975 | €127,481 | -€2,494 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €7,693 | - | -€7,693 | |
| Trade debts | 44 | €60 | - | -€60 | |
| Suppliers | 440/4 | €60 | - | -€60 | |
| Taxes, remuneration and social security | 45 | €3,907 | €8,805 | +€4,898 | +125% |
| Taxes | 450/3 | €3,907 | €8,805 | +€4,898 | +125% |
| Other amounts payable | 47/48 | €118,315 | €118,676 | +€361 | +0.3% |
| Accrued charges and deferred income | 492/3 | €4,959 | €2,362 | -€2,598 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,242 | €36,784 | -€1,458 | -3.8% |
| Other operating charges | 640/8 | €11,396 | €10,107 | -€1,289 | -11.3% |
| Gross operating margin | 9900 | €97,868 | €131,002 | +€33,134 | +33.9% |
| Operating profit (loss) | 9901 | €48,230 | €84,111 | +€35,881 | +74.4% |
| Financial income | 75/76B | €1,206 | €1,094 | -€113 | -9.3% |
| Recurring financial income | 75 | €1,206 | €1,094 | -€113 | -9.3% |
| Financial charges | 65/66B | €3,003 | €2,435 | -€568 | -18.9% |
| Recurring financial charges | 65 | €3,003 | €2,435 | -€568 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €46,433 | €82,769 | +€36,336 | +78.3% |
| Income taxes | 67/77 | €14,773 | €26,332 | +€11,559 | +78.2% |
| Profit (loss) for the period | 9904 | €31,660 | €56,437 | +€24,777 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,660 | €56,437 | +€24,777 | +78.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.