HOET-JOYE: 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.
What changed
HOET-JOYE
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,672
2024 · €123,832-€142,504
Equity
€899,261
2024 · €917,933-€18,672
Cash
€23,481
2024 · €32,173-€8,692
Balance sheet total
€2.3m
2024 · €2.3m-€56,753
Largest movements
Assets
- Tangible fixed assets -€54,684
down €54,684 (-2.4%), from €2.3m to €2.2m
Equity and liabilities
- Debts after one year -€48,000
down €48,000 (-22.2%), from €216,000 to €168,000
Income statement
- Gross operating margin -€140,930
down €140,930 (-65.2%), from €216,184 to €75,254
- Financial income -€4,130
down €4,130 (-100.0%), from €4,130 to €0
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.
Result 2024
€123,832
Gross operating margin
-€140,930
Depreciation
+€0
Other operating charges
+€1,919
Financial income
-€4,130
Financial charges
+€637
Result 2025
-€18,672
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.
From operations
+€40,497
Investment
€0
Financing
-€49,188
Cash 2024
€32,173
From operations (derived)
+€40,497
Net result for the year
-€18,672
Depreciation
+€54,684
Receivables within one year
-€2,126
Deferred charges and accrued income
-€4,498
Trade debts
+€7,920
Tax, wage and social debts
+€518
Accrued charges and deferred income
+€2,670
Financing
-€49,188
Debts after one year
-€48,000
Short-term financial debts
-€1,188
Cash 2025
€23,481
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,313,823 | €2,257,070 | -€56,753 | -2.5% |
| Fixed assets | 21/28 | €2,276,664 | €2,221,980 | -€54,684 | -2.4% |
| Tangible fixed assets | 22/27 | €2,276,664 | €2,221,980 | -€54,684 | -2.4% |
| Land and buildings | 22 | €2,276,664 | €2,221,980 | -€54,684 | -2.4% |
| Current assets | 29/58 | €37,159 | €35,091 | -€2,068 | -5.6% |
| Amounts receivable within one year | 40/41 | €4,902 | €7,028 | +€2,126 | +43.4% |
| Trade receivables | 40 | €3,663 | €7,028 | +€3,365 | +91.9% |
| Other amounts receivable | 41 | €1,239 | €0 | -€1,239 | -100.0% |
| Cash at bank and in hand | 54/58 | €32,173 | €23,481 | -€8,692 | -27.0% |
| Deferred charges and accrued income | 490/1 | €84 | €4,582 | +€4,498 | +5353.6% |
| Total equity and liabilities | 10/49 | €2,313,823 | €2,257,070 | -€56,753 | -2.5% |
| Equity | 10/15 | €917,933 | €899,261 | -€18,672 | -2.0% |
| Contributions | 10/11 | €966,000 | €966,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,067 | -€66,739 | -€18,672 | -38.8% |
| Amounts payable | 17/49 | €1,395,890 | €1,357,809 | -€38,081 | -2.7% |
| Amounts payable after more than one year | 17 | €216,000 | €168,000 | -€48,000 | -22.2% |
| Financial debts | 170/4 | €216,000 | €168,000 | -€48,000 | -22.2% |
| Amounts payable within one year | 42/48 | €1,179,890 | €1,187,139 | +€7,249 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €48,000 | €48,000 | = | 0.0% |
| Financial debts | 43 | €1,122,699 | €1,121,511 | -€1,188 | -0.1% |
| Credit institutions | 430/8 | €12,005 | €13,213 | +€1,208 | +10.1% |
| Other loans | 439 | €1,110,694 | €1,108,298 | -€2,396 | -0.2% |
| Trade debts | 44 | €2,746 | €10,666 | +€7,920 | +288.5% |
| Suppliers | 440/4 | €2,746 | €10,666 | +€7,920 | +288.5% |
| Taxes, remuneration and social security | 45 | €5,145 | €5,663 | +€518 | +10.1% |
| Taxes | 450/3 | €5,145 | €5,663 | +€518 | +10.1% |
| Other amounts payable | 47/48 | €1,300 | €1,300 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €2,670 | +€2,670 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,684 | €54,684 | -€0 | 0.0% |
| Other operating charges | 640/8 | €11,076 | €9,157 | -€1,919 | -17.3% |
| Gross operating margin | 9900 | €216,184 | €75,254 | -€140,930 | -65.2% |
| Operating profit (loss) | 9901 | €150,423 | €11,413 | -€139,011 | -92.4% |
| Financial income | 75/76B | €4,130 | €0 | -€4,130 | -100.0% |
| Recurring financial income | 75 | €4,130 | €0 | -€4,130 | -100.0% |
| Financial charges | 65/66B | €30,722 | €30,085 | -€637 | -2.1% |
| Recurring financial charges | 65 | €30,722 | €30,085 | -€637 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €123,832 | -€18,672 | -€142,504 | |
| Profit (loss) for the period | 9904 | €123,832 | -€18,672 | -€142,504 | |
| Profit (loss) for the period to be appropriated | 9905 | €123,832 | -€18,672 | -€142,504 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.