HOES EXPLOITATION: 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.
HOES EXPLOITATION
Largest movements
- Receivables within one year -€183,358
down €183,358 (-67.2%), from €272,838 to €89,480
of which Trade receivables: -€179,909
- Stocks and contracts -€81,100
down €81,100 (-42.7%), from €189,850 to €108,750
- Cash -€23,960
down €23,960 (-84.7%), from €28,280 to €4,321
mainly Trade debts (-€197,050) and Other debts (-€61,512)
- Intangible fixed assets -€6,200
down €6,200 (-21.4%), from €28,933 to €22,733
- Trade debts -€197,050
down €197,050 (-69.9%), from €281,794 to €84,744
- Other debts -€61,512
down €61,512 (-28.3%), from €217,346 to €155,834
- Profit (loss) carried forward -€44,263
down €44,263, from €2,781 to -€41,482
- Tax, wage and social debts +€7,123
up €7,123 (+38.4%), from €18,565 to €25,688
of which Taxes: +€11,162
- Staff costs +€121,352
up €121,352 (+161%), from €75,366 to €196,718
- Gross operating margin +€64,869
up €64,869 (+67.9%), from €95,483 to €160,351
- Depreciation +€4,133
up €4,133 (+200%), from €2,067 to €6,200
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 | €522,987 | €227,284 | -€295,702 | -56.5% |
| Fixed assets | 21/28 | €30,933 | €24,733 | -€6,200 | -20.0% |
| Intangible fixed assets | 21 | €28,933 | €22,733 | -€6,200 | -21.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €492,053 | €202,551 | -€289,502 | -58.8% |
| Stocks and contracts in progress | 3 | €189,850 | €108,750 | -€81,100 | -42.7% |
| Stocks | 30/36 | €189,850 | €108,750 | -€81,100 | -42.7% |
| Amounts receivable within one year | 40/41 | €272,838 | €89,480 | -€183,358 | -67.2% |
| Trade receivables | 40 | €259,227 | €79,318 | -€179,909 | -69.4% |
| Other amounts receivable | 41 | €13,611 | €10,162 | -€3,449 | -25.3% |
| Cash at bank and in hand | 54/58 | €28,280 | €4,321 | -€23,960 | -84.7% |
| Deferred charges and accrued income | 490/1 | €1,084 | - | -€1,084 | |
| Total equity and liabilities | 10/49 | €522,987 | €227,284 | -€295,702 | -56.5% |
| Equity | 10/15 | €5,281 | -€38,982 | -€44,263 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,781 | -€41,482 | -€44,263 | |
| Amounts payable | 17/49 | €517,705 | €266,266 | -€251,439 | -48.6% |
| Amounts payable within one year | 42/48 | €517,705 | €266,266 | -€251,439 | -48.6% |
| Trade debts | 44 | €281,794 | €84,744 | -€197,050 | -69.9% |
| Suppliers | 440/4 | €281,794 | €84,744 | -€197,050 | -69.9% |
| Taxes, remuneration and social security | 45 | €18,565 | €25,688 | +€7,123 | +38.4% |
| Taxes | 450/3 | - | €11,162 | +€11,162 | |
| Remuneration and social security | 454/9 | €18,565 | €14,527 | -€4,038 | -21.8% |
| Other amounts payable | 47/48 | €217,346 | €155,834 | -€61,512 | -28.3% |
| Remuneration, social security and pensions | 62 | €75,366 | €196,718 | +€121,352 | +161% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,067 | €6,200 | +€4,133 | +200% |
| Other operating charges | 640/8 | €387 | €1,552 | +€1,164 | +301% |
| Gross operating margin | 9900 | €95,483 | €160,351 | +€64,869 | +67.9% |
| Operating profit (loss) | 9901 | €17,662 | -€44,119 | -€61,781 | |
| Financial income | 75/76B | €148 | €20 | -€128 | -86.6% |
| Recurring financial income | 75 | €148 | €20 | -€128 | -86.6% |
| Financial charges | 65/66B | €30 | €164 | +€135 | +454% |
| Recurring financial charges | 65 | €30 | €164 | +€135 | +454% |
| Profit (loss) for the period before taxes | 9903 | €17,781 | -€44,263 | -€62,044 | |
| Profit (loss) for the period | 9904 | €17,781 | -€44,263 | -€62,044 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,781 | -€44,263 | -€62,044 |
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 15 October 2026 via checked.be.