HOET: 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.
HOET
Largest movements
- Cash +€112,384
up €112,384 (+39.9%), from €281,401 to €393,785
mainly Net result for the year (+€112,436) and Tax, wage and social debts (+€1,134)
- Reserves +€112,436
up €112,436 (+45.6%), from €246,590 to €359,026
- Gross operating margin +€18,758
up €18,758 (+15.5%), from €121,105 to €139,862
- Taxes +€5,582
up €5,582 (+22.1%), from €25,244 to €30,827
- Financial income +€3,935
new in 2025: €3,935
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.
Cash bridge derived
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 | €287,401 | €400,375 | +€112,974 | +39.3% |
| Current assets | 29/58 | €287,401 | €400,375 | +€112,974 | +39.3% |
| Amounts receivable within one year | 40/41 | €6,000 | €6,590 | +€590 | +9.8% |
| Trade receivables | 40 | €6,000 | €6,590 | +€590 | +9.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €281,401 | €393,785 | +€112,384 | +39.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €287,401 | €400,375 | +€112,974 | +39.3% |
| Equity | 10/15 | €251,590 | €364,026 | +€112,436 | +44.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €246,590 | €359,026 | +€112,436 | +45.6% |
| Distributable reserves | 133 | €246,590 | €359,026 | +€112,436 | +45.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €35,811 | €36,349 | +€538 | +1.5% |
| Amounts payable within one year | 42/48 | €35,811 | €36,349 | +€538 | +1.5% |
| Trade debts | 44 | €726 | €130 | -€596 | -82.1% |
| Suppliers | 440/4 | €726 | €130 | -€596 | -82.1% |
| Taxes, remuneration and social security | 45 | €35,085 | €36,219 | +€1,134 | +3.2% |
| Taxes | 450/3 | €32,885 | €34,019 | +€1,134 | +3.4% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €121,105 | €139,862 | +€18,758 | +15.5% |
| Operating profit (loss) | 9901 | €120,990 | €139,736 | +€18,747 | +15.5% |
| Financial income | 75/76B | - | €3,935 | +€3,935 | |
| Recurring financial income | 75 | - | €3,935 | +€3,935 | |
| Financial charges | 65/66B | €210 | €409 | +€199 | +95.0% |
| Recurring financial charges | 65 | €210 | €409 | +€199 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €120,780 | €143,263 | +€22,482 | +18.6% |
| Income taxes | 67/77 | €25,244 | €30,827 | +€5,582 | +22.1% |
| Profit (loss) for the period | 9904 | €95,536 | €112,436 | +€16,900 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €95,536 | €112,436 | +€16,900 | +17.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.