HOERA: 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.
HOERA
Largest movements
- Cash +€97,142
up €97,142 (+132.2%), from €73,501 to €170,643
mainly Net result for the year (+€42,966) and Tax, wage and social debts (+€27,587)
- Receivables within one year -€25,756
down €25,756 (-28.8%), from €89,300 to €63,543
- Reserves +€42,966
up €42,966 (+28.4%), from €151,156 to €194,122
- Tax, wage and social debts +€27,587
up €27,587 (+286.1%), from €9,642 to €37,230
- Gross operating margin +€48,505
up €48,505 (+127.1%), from €38,149 to €86,654
- Taxes +€31,587
up €31,587 (+327.6%), from €9,642 to €41,230
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 | €162,801 | €234,186 | +€71,385 | +43.8% |
| Current assets | 29/58 | €162,801 | €234,186 | +€71,385 | +43.8% |
| Amounts receivable within one year | 40/41 | €89,300 | €63,543 | -€25,756 | -28.8% |
| Trade receivables | 40 | €89,300 | €63,543 | -€25,756 | -28.8% |
| Cash at bank and in hand | 54/58 | €73,501 | €170,643 | +€97,142 | +132.2% |
| Total equity and liabilities | 10/49 | €162,801 | €234,186 | +€71,385 | +43.8% |
| Equity | 10/15 | €151,156 | €194,122 | +€42,966 | +28.4% |
| Reserves | 13 | €151,156 | €194,122 | +€42,966 | +28.4% |
| Distributable reserves | 133 | €151,156 | €194,122 | +€42,966 | +28.4% |
| Amounts payable | 17/49 | €11,645 | €40,064 | +€28,419 | +244.0% |
| Amounts payable within one year | 42/48 | €11,645 | €38,667 | +€27,022 | +232.0% |
| Trade debts | 44 | €1,906 | - | -€1,906 | |
| Suppliers | 440/4 | €1,906 | - | -€1,906 | |
| Taxes, remuneration and social security | 45 | €9,642 | €37,230 | +€27,587 | +286.1% |
| Taxes | 450/3 | €9,642 | €37,230 | +€27,587 | +286.1% |
| Other amounts payable | 47/48 | €97 | €1,437 | +€1,340 | +1380.5% |
| Accrued charges and deferred income | 492/3 | - | €1,398 | +€1,398 | |
| Other operating charges | 640/8 | €2,344 | €2,415 | +€71 | +3.0% |
| Gross operating margin | 9900 | €38,149 | €86,654 | +€48,505 | +127.1% |
| Operating profit (loss) | 9901 | €35,806 | €84,239 | +€48,434 | +135.3% |
| Financial income | 75/76B | - | €61 | +€61 | |
| Recurring financial income | 75 | - | €61 | +€61 | |
| Financial charges | 65/66B | €421 | €104 | -€317 | -75.3% |
| Recurring financial charges | 65 | €421 | €104 | -€317 | -75.3% |
| Profit (loss) for the period before taxes | 9903 | €35,384 | €84,196 | +€48,811 | +137.9% |
| Income taxes | 67/77 | €9,642 | €41,230 | +€31,587 | +327.6% |
| Profit (loss) for the period | 9904 | €25,742 | €42,966 | +€17,224 | +66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,742 | €42,966 | +€17,224 | +66.9% |
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 10 October 2026 via checked.be.