HOETJES: 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.
HOETJES
Largest movements
- Cash -€261,290
down €261,290 (-55.4%), from €471,912 to €210,622
mainly Investment in fixed assets (net) (-€175,000) and Current investments (-€62,014)
- Financial fixed assets +€175,000
up €175,000 (+175%), from €100,000 to €275,000
- Current investments +€62,014
up €62,014 (+4.3%), from €1.5m to €1.5m
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€219,385
down €219,385 (-86.6%), from €253,199 to €33,814
- Taxes -€24,607
down €24,607 (-87.0%), from €28,294 to €3,687
- Gross operating margin -€21,109
down €21,109, from €2,402 to -€18,708
- Other operating charges +€841
up €841 (+18.7%), from €4,495 to €5,337
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 | €2,063,025 | €2,062,076 | -€950 | 0.0% |
| Fixed assets | 21/28 | €101,909 | €275,672 | +€173,763 | +171% |
| Tangible fixed assets | 22/27 | €1,909 | €672 | -€1,237 | -64.8% |
| Furniture and vehicles | 24 | €1,909 | €672 | -€1,237 | -64.8% |
| Financial fixed assets | 28 | €100,000 | €275,000 | +€175,000 | +175% |
| Current assets | 29/58 | €1,961,117 | €1,786,404 | -€174,713 | -8.9% |
| Amounts receivable within one year | 40/41 | €4,638 | €12,461 | +€7,823 | +169% |
| Trade receivables | 40 | €3,630 | €4,530 | +€900 | +24.8% |
| Other amounts receivable | 41 | €1,008 | €7,931 | +€6,923 | +687% |
| Current investments | 50/53 | €1,455,361 | €1,517,374 | +€62,014 | +4.3% |
| Cash at bank and in hand | 54/58 | €471,912 | €210,622 | -€261,290 | -55.4% |
| Deferred charges and accrued income | 490/1 | €29,206 | €45,947 | +€16,741 | +57.3% |
| Total equity and liabilities | 10/49 | €2,063,025 | €2,062,076 | -€950 | 0.0% |
| Equity | 10/15 | €2,038,236 | €2,042,779 | +€4,544 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,019,636 | €2,024,179 | +€4,544 | +0.2% |
| Distributable reserves | 133 | €2,019,636 | €2,024,179 | +€4,544 | +0.2% |
| Amounts payable | 17/49 | €24,790 | €19,297 | -€5,493 | -22.2% |
| Amounts payable within one year | 42/48 | €16,695 | €6,217 | -€10,478 | -62.8% |
| Trade debts | 44 | €174 | €1,109 | +€935 | +536% |
| Suppliers | 440/4 | €174 | €1,109 | +€935 | +536% |
| Taxes, remuneration and social security | 45 | €13,207 | €1,794 | -€11,413 | -86.4% |
| Taxes | 450/3 | €13,207 | €1,794 | -€11,413 | -86.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,314 | €3,314 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,094 | €13,079 | +€4,985 | +61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,385 | €1,237 | -€148 | -10.7% |
| Other operating charges | 640/8 | €4,495 | €5,337 | +€841 | +18.7% |
| Gross operating margin | 9900 | €2,402 | -€18,708 | -€21,109 | |
| Operating profit (loss) | 9901 | -€3,479 | -€25,281 | -€21,803 | -627% |
| Financial income | 75/76B | €253,199 | €33,814 | -€219,385 | -86.6% |
| Recurring financial income | 75 | €253,199 | €33,814 | -€219,385 | -86.6% |
| Financial charges | 65/66B | €254 | €302 | +€48 | +19.1% |
| Recurring financial charges | 65 | €254 | €302 | +€48 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €249,466 | €8,230 | -€241,236 | -96.7% |
| Income taxes | 67/77 | €28,294 | €3,687 | -€24,607 | -87.0% |
| Profit (loss) for the period | 9904 | €221,172 | €4,544 | -€216,629 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €221,172 | €4,544 | -€216,629 | -97.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.