HOEVE: 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.
HOEVE
Largest movements
- Cash -€11,825
down €11,825 (-58.4%), from €20,253 to €8,428
mainly Debts after one year (-€24,092) and Investment in fixed assets (net) (-€14,687)
- Receivables within one year -€11,159
down €11,159 (-52.8%), from €21,143 to €9,985
of which Other amounts receivable: -€14,621
- Stocks and contracts +€10,128
new in 2025: €10,128
- Tangible fixed assets -€10,098
down €10,098 (-11.3%), from €89,444 to €79,347
of which Furniture and vehicles: -€21,480
- Debts after one year -€24,092
down €24,092 (-41.8%), from €57,592 to €33,501
- Current portion of long-term debt +€8,272
up €8,272 (+97.3%), from €8,499 to €16,771
- Other debts -€5,846
down €5,846 (-20.9%), from €28,002 to €22,156
- Tax, wage and social debts +€2,665
up €2,665 (+37.7%), from €7,064 to €9,729
- Trade debts -€2,555
down €2,555 (-77.8%), from €3,286 to €731
- Depreciation +€15,395
up €15,395 (+164%), from €9,390 to €24,785
- Gross operating margin -€7,123
down €7,123 (-17.4%), from €40,979 to €33,855
- Taxes -€4,708
down €4,708 (-66.7%), from €7,064 to €2,355
- Financial charges +€1,768
up €1,768 (+90.7%), from €1,950 to €3,718
- Other operating charges +€1,139
up €1,139 (+193%), from €590 to €1,729
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 | €130,840 | €107,887 | -€22,953 | -17.5% |
| Fixed assets | 21/28 | €89,444 | €79,347 | -€10,098 | -11.3% |
| Tangible fixed assets | 22/27 | €89,444 | €79,347 | -€10,098 | -11.3% |
| Plant, machinery and equipment | 23 | €8,869 | €20,251 | +€11,382 | +128% |
| Furniture and vehicles | 24 | €80,576 | €59,096 | -€21,480 | -26.7% |
| Current assets | 29/58 | €41,396 | €28,540 | -€12,856 | -31.1% |
| Stocks and contracts in progress | 3 | - | €10,128 | +€10,128 | |
| Stocks | 30/36 | - | €10,128 | +€10,128 | |
| Amounts receivable within one year | 40/41 | €21,143 | €9,985 | -€11,159 | -52.8% |
| Trade receivables | 40 | €4,404 | €7,866 | +€3,462 | +78.6% |
| Other amounts receivable | 41 | €16,739 | €2,119 | -€14,621 | -87.3% |
| Cash at bank and in hand | 54/58 | €20,253 | €8,428 | -€11,825 | -58.4% |
| Total equity and liabilities | 10/49 | €130,840 | €107,887 | -€22,953 | -17.5% |
| Equity | 10/15 | €26,397 | €24,999 | -€1,397 | -5.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €19,397 | €17,999 | -€1,397 | -7.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €17,397 | €15,999 | -€1,397 | -8.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €104,444 | €82,888 | -€21,556 | -20.6% |
| Amounts payable after more than one year | 17 | €57,592 | €33,501 | -€24,092 | -41.8% |
| Financial debts | 170/4 | €57,592 | €33,501 | -€24,092 | -41.8% |
| Amounts payable within one year | 42/48 | €46,851 | €49,387 | +€2,535 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €8,499 | €16,771 | +€8,272 | +97.3% |
| Trade debts | 44 | €3,286 | €731 | -€2,555 | -77.8% |
| Suppliers | 440/4 | €3,286 | €731 | -€2,555 | -77.8% |
| Taxes, remuneration and social security | 45 | €7,064 | €9,729 | +€2,665 | +37.7% |
| Taxes | 450/3 | €7,064 | €9,729 | +€2,665 | +37.7% |
| Other amounts payable | 47/48 | €28,002 | €22,156 | -€5,846 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,390 | €24,785 | +€15,395 | +164% |
| Other operating charges | 640/8 | €590 | €1,729 | +€1,139 | +193% |
| Gross operating margin | 9900 | €40,979 | €33,855 | -€7,123 | -17.4% |
| Operating profit (loss) | 9901 | €30,999 | €7,342 | -€23,657 | -76.3% |
| Financial charges | 65/66B | €1,950 | €3,718 | +€1,768 | +90.7% |
| Recurring financial charges | 65 | €1,950 | €3,718 | +€1,768 | +90.7% |
| Profit (loss) for the period before taxes | 9903 | €29,048 | €3,623 | -€25,425 | -87.5% |
| Income taxes | 67/77 | €7,064 | €2,355 | -€4,708 | -66.7% |
| Profit (loss) for the period | 9904 | €21,985 | €1,268 | -€20,717 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,985 | €1,268 | -€20,717 | -94.2% |
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 13 October 2026 via checked.be.