HOET Properties: 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.
HOET Properties
Largest movements
- Stocks and contracts -€1.9m
down €1.9m (-100.0%), from €1.9m to €0
- Receivables within one year -€1.3m
down €1.3m (-98.3%), from €1.3m to €21,992
of which Other amounts receivable: -€1.3m
- Cash -€190,860
down €190,860 (-84.7%), from €225,401 to €34,541
mainly Contributions, distributions and other (-€4.0m) and Short-term financial debts (-€290,000)
- Receivables after one year -€141,943
down €141,943 (-100.0%), from €141,943 to €0
- Contributions -€5.6m
down €5.6m (-98.9%), from €5.7m to €61,500
- Profit (loss) carried forward +€1.8m
up €1.8m (+99.1%), from -€1.8m to -€16,978
- Other debts +€516,778
up €516,778 (+51182.4%), from €1,010 to €517,788
- Short-term financial debts -€290,000
down €290,000 (-100.0%), from €290,000 to €0
- Other operating charges +€136,696
up €136,696 (+6816.8%), from €2,005 to €138,702
- Gross operating margin +€75,102
up €75,102 (+136.7%), from €54,954 to €130,055
- Write-downs -€54,908
down €54,908 (-66.0%), from -€83,149 to -€138,057
- Financial charges -€38,692
down €38,692 (-94.2%), from €41,087 to €2,395
of which Financial charges: -€36,694
- Financial income -€13,372
down €13,372 (-18.0%), from €74,396 to €61,024
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 | €4,376,151 | €816,312 | -€3.6m | -81.3% |
| Fixed assets | 21/28 | €760,140 | €758,052 | -€2,088 | -0.3% |
| Tangible fixed assets | 22/27 | €30,390 | €28,302 | -€2,088 | -6.9% |
| Land and buildings | 22 | €27,431 | €26,498 | -€933 | -3.4% |
| Furniture and vehicles | 24 | €2,959 | €1,805 | -€1,154 | -39.0% |
| Financial fixed assets | 28 | €729,750 | €729,750 | = | 0.0% |
| Current assets | 29/58 | €3,616,011 | €58,260 | -€3.6m | -98.4% |
| Amounts receivable after more than one year | 29 | €141,943 | €0 | -€141,943 | -100.0% |
| Trade receivables | 290 | €141,943 | €0 | -€141,943 | -100.0% |
| Stocks and contracts in progress | 3 | €1,949,908 | €0 | -€1.9m | -100.0% |
| Stocks | 30/36 | €1,949,908 | €0 | -€1.9m | -100.0% |
| Amounts receivable within one year | 40/41 | €1,296,720 | €21,992 | -€1.3m | -98.3% |
| Trade receivables | 40 | €705 | €4,134 | +€3,429 | +486.2% |
| Other amounts receivable | 41 | €1,296,015 | €17,857 | -€1.3m | -98.6% |
| Cash at bank and in hand | 54/58 | €225,401 | €34,541 | -€190,860 | -84.7% |
| Deferred charges and accrued income | 490/1 | €2,040 | €1,727 | -€313 | -15.3% |
| Total equity and liabilities | 10/49 | €4,376,151 | €816,312 | -€3.6m | -81.3% |
| Equity | 10/15 | €4,081,117 | €298,521 | -€3.8m | -92.7% |
| Contributions | 10/11 | €5,667,967 | €61,500 | -€5.6m | -98.9% |
| Capital | 10 | €5,667,967 | €61,500 | -€5.6m | -98.9% |
| Issued capital | 100 | €5,667,967 | €61,500 | -€5.6m | -98.9% |
| Reserves | 13 | €253,999 | €253,999 | = | 0.0% |
| Non-distributable reserves | 130/1 | €253,999 | €253,999 | = | 0.0% |
| Legal reserve | 130 | €253,999 | €253,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,840,848 | -€16,978 | +€1.8m | +99.1% |
| Amounts payable | 17/49 | €295,033 | €517,791 | +€222,758 | +75.5% |
| Amounts payable within one year | 42/48 | €293,877 | €517,791 | +€223,914 | +76.2% |
| Financial debts | 43 | €290,000 | €0 | -€290,000 | -100.0% |
| Credit institutions | 430/8 | €290,000 | €0 | -€290,000 | -100.0% |
| Trade debts | 44 | €2,867 | €3 | -€2,864 | -99.9% |
| Suppliers | 440/4 | €2,867 | €3 | -€2,864 | -99.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,010 | €517,788 | +€516,778 | +51182.4% |
| Accrued charges and deferred income | 492/3 | €1,156 | €0 | -€1,156 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,868 | €2,088 | -€780 | -27.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€83,149 | -€138,057 | -€54,908 | -66.0% |
| Other operating charges | 640/8 | €2,005 | €138,702 | +€136,696 | +6816.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €54,954 | €130,055 | +€75,102 | +136.7% |
| Operating profit (loss) | 9901 | €133,229 | €127,324 | -€5,906 | -4.4% |
| Financial income | 75/76B | €74,396 | €61,024 | -€13,372 | -18.0% |
| Recurring financial income | 75 | €74,396 | €61,024 | -€13,372 | -18.0% |
| Financial charges | 65/66B | €41,087 | €2,395 | -€38,692 | -94.2% |
| Recurring financial charges | 65 | €39,089 | €2,395 | -€36,694 | -93.9% |
| Non-recurring financial charges | 66B | €1,998 | €0 | -€1,998 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €166,538 | €185,953 | +€19,415 | +11.7% |
| Income taxes | 67/77 | €252 | €2 | -€250 | -99.0% |
| Profit (loss) for the period | 9904 | €166,286 | €185,951 | +€19,664 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €166,286 | €185,951 | +€19,664 | +11.8% |
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 12 October 2026 via checked.be.