HOEDEMAEKERS: 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.
HOEDEMAEKERS
Largest movements
- Receivables after one year +€47,500
up €47,500 (+11.3%), from €420,000 to €467,500
- Receivables within one year -€17,106
down €17,106 (-32.8%), from €52,083 to €34,977
of which Trade receivables: -€15,000
- Tangible fixed assets -€13,758
down €13,758 (-10.8%), from €127,792 to €114,034
of which Furniture and vehicles: -€13,319
- Cash +€12,338
up €12,338 (+60.0%), from €20,580 to €32,919
mainly Net result for the year (+€48,662) and Receivables within one year (+€17,106)
- Reserves +€48,662
up €48,662 (+10.2%), from €478,373 to €527,035
- Current portion of long-term debt -€6,620
down €6,620 (-17.7%), from €37,503 to €30,884
- Depreciation +€5,546
up €5,546 (+67.5%), from €8,212 to €13,758
- Gross operating margin +€1,693
up €1,693 (+2.1%), from €78,857 to €80,550
- Other operating charges -€1,624
down €1,624 (-63.4%), from €2,561 to €938
- Financial income +€1,219
up €1,219 (+12.3%), from €9,875 to €11,094
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 | €620,455 | €649,429 | +€28,974 | +4.7% |
| Fixed assets | 21/28 | €127,792 | €114,034 | -€13,758 | -10.8% |
| Tangible fixed assets | 22/27 | €127,792 | €114,034 | -€13,758 | -10.8% |
| Land and buildings | 22 | €70,749 | €70,311 | -€439 | -0.6% |
| Furniture and vehicles | 24 | €57,042 | €43,723 | -€13,319 | -23.4% |
| Current assets | 29/58 | €492,663 | €535,395 | +€42,732 | +8.7% |
| Amounts receivable after more than one year | 29 | €420,000 | €467,500 | +€47,500 | +11.3% |
| Other amounts receivable | 291 | €420,000 | €467,500 | +€47,500 | +11.3% |
| Amounts receivable within one year | 40/41 | €52,083 | €34,977 | -€17,106 | -32.8% |
| Trade receivables | 40 | €37,000 | €22,000 | -€15,000 | -40.5% |
| Other amounts receivable | 41 | €15,083 | €12,977 | -€2,106 | -14.0% |
| Cash at bank and in hand | 54/58 | €20,580 | €32,919 | +€12,338 | +60.0% |
| Total equity and liabilities | 10/49 | €620,455 | €649,429 | +€28,974 | +4.7% |
| Equity | 10/15 | €558,293 | €606,955 | +€48,662 | +8.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €478,373 | €527,035 | +€48,662 | +10.2% |
| Distributable reserves | 133 | €478,373 | €527,035 | +€48,662 | +10.2% |
| Profit (loss) carried forward | 14 | €6,328 | €6,328 | = | 0.0% |
| Amounts payable | 17/49 | €62,162 | €42,474 | -€19,688 | -31.7% |
| Amounts payable after more than one year | 17 | €8,944 | €3,507 | -€5,437 | -60.8% |
| Financial debts | 170/4 | €8,944 | €3,507 | -€5,437 | -60.8% |
| Amounts payable within one year | 42/48 | €53,218 | €38,968 | -€14,250 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €37,503 | €30,884 | -€6,620 | -17.7% |
| Trade debts | 44 | €2,712 | €1,056 | -€1,656 | -61.1% |
| Suppliers | 440/4 | €2,712 | €1,056 | -€1,656 | -61.1% |
| Taxes, remuneration and social security | 45 | €7,176 | €4,866 | -€2,309 | -32.2% |
| Taxes | 450/3 | €7,176 | €4,866 | -€2,309 | -32.2% |
| Other amounts payable | 47/48 | €5,828 | €2,162 | -€3,666 | -62.9% |
| Non-recurring operating income | 76A | €3,039 | - | -€3,039 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,212 | €13,758 | +€5,546 | +67.5% |
| Other operating charges | 640/8 | €2,561 | €938 | -€1,624 | -63.4% |
| Gross operating margin | 9900 | €78,857 | €80,550 | +€1,693 | +2.1% |
| Operating profit (loss) | 9901 | €68,083 | €65,854 | -€2,229 | -3.3% |
| Financial income | 75/76B | €9,875 | €11,094 | +€1,219 | +12.3% |
| Recurring financial income | 75 | €9,875 | €11,094 | +€1,219 | +12.3% |
| Financial charges | 65/66B | €843 | €1,321 | +€477 | +56.6% |
| Recurring financial charges | 65 | €843 | €1,321 | +€477 | +56.6% |
| Profit (loss) for the period before taxes | 9903 | €77,115 | €75,627 | -€1,488 | -1.9% |
| Income taxes | 67/77 | €27,422 | €26,965 | -€457 | -1.7% |
| Profit (loss) for the period | 9904 | €49,693 | €48,662 | -€1,031 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,693 | €48,662 | -€1,031 | -2.1% |
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 25 October 2026 via checked.be.