HOEVE HAZEGRAS: what changed
What changed
HOEVE HAZEGRAS
NACE 55.203, Holiday cottages, homes and apartments
filed annual accounts (NBB)
Net result for the year
-€14,658
2024 · €61,402-€76,060
Equity
€2.9m
2024 · €2.9m-€14,658
Cash
€211,916
2024 · €252,950-€41,035
Balance sheet total
€3.6m
2024 · €3.7m-€97,483
Largest movements
Assets
- Tangible fixed assets -€52,925
down €52,925 (-1.7%), from €3.1m to €3.1m
of which Other tangible fixed assets: -€56,992
- Cash -€41,035
down €41,035 (-16.2%), from €252,950 to €211,916
mainly Investment in fixed assets (net) (-€86,717) and Debts after one year (-€56,568)
Equity and liabilities
- Debts after one year -€56,568
down €56,568 (-28.0%), from €201,771 to €145,203
Income statement
- Gross operating margin -€108,085
down €108,085 (-30.5%), from €354,576 to €246,491
- Taxes -€29,037
down €29,037 (-98.9%), from €29,368 to €332
- Staff costs -€9,152
down €9,152 (-10.0%), from €91,484 to €82,332
- Financial income -€4,554
down €4,554 (-98.6%), from €4,619 to €64
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€61,402
Gross operating margin
-€108,085
Staff costs
+€9,152
Depreciation
-€2,529
Other operating charges
-€1,787
Financial income
-€4,554
Financial charges
+€2,706
Taxes
+€29,037
Result 2025
-€14,658
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€107,299
Investment
-€86,723
Financing
-€61,611
Cash 2024
€252,950
From operations (derived)
+€107,299
Net result for the year
-€14,658
Depreciation
+€139,642
Receivables within one year
-€5,312
Deferred charges and accrued income
+€8,842
Trade debts
+€12,734
Tax, wage and social debts
-€32,563
Advances received
+€100
Other debts
-€2,159
Accrued charges and deferred income
+€674
Investment (derived)
-€86,723
Investment in fixed assets (net)
-€86,717
Current investments
-€6
Financing
-€61,611
Debts after one year
-€56,568
Current portion of long-term debt
-€5,364
Short-term financial debts
+€321
Cash 2025
€211,916
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,729,605 | €3,632,121 | -€97,483 | -2.6% |
| Fixed assets | 21/28 | €3,122,597 | €3,069,672 | -€52,925 | -1.7% |
| Tangible fixed assets | 22/27 | €3,121,097 | €3,068,172 | -€52,925 | -1.7% |
| Land and buildings | 22 | €2,634,454 | €2,596,798 | -€37,657 | -1.4% |
| Plant, machinery and equipment | 23 | €35,672 | €82,280 | +€46,608 | +131% |
| Furniture and vehicles | 24 | €10,132 | €5,248 | -€4,884 | -48.2% |
| Other tangible fixed assets | 26 | €440,839 | €383,846 | -€56,992 | -12.9% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €607,008 | €562,449 | -€44,558 | -7.3% |
| Amounts receivable within one year | 40/41 | €44,227 | €49,539 | +€5,312 | +12.0% |
| Trade receivables | 40 | €40,994 | €21,895 | -€19,099 | -46.6% |
| Other amounts receivable | 41 | €3,233 | €27,644 | +€24,411 | +755% |
| Current investments | 50/53 | €300,988 | €300,994 | +€6 | 0.0% |
| Cash at bank and in hand | 54/58 | €252,950 | €211,916 | -€41,035 | -16.2% |
| Deferred charges and accrued income | 490/1 | €8,842 | €0 | -€8,842 | -100% |
| Total equity and liabilities | 10/49 | €3,729,605 | €3,632,121 | -€97,483 | -2.6% |
| Equity | 10/15 | €2,931,402 | €2,916,744 | -€14,658 | -0.5% |
| Contributions | 10/11 | €2,600,000 | €2,600,000 | = | 0.0% |
| Reserves | 13 | €300,000 | €300,000 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,402 | €16,744 | -€14,658 | -46.7% |
| Amounts payable | 17/49 | €798,202 | €715,377 | -€82,825 | -10.4% |
| Amounts payable after more than one year | 17 | €201,771 | €145,203 | -€56,568 | -28.0% |
| Financial debts | 170/4 | €201,771 | €145,203 | -€56,568 | -28.0% |
| Amounts payable within one year | 42/48 | €596,432 | €569,500 | -€26,931 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €63,849 | €58,485 | -€5,364 | -8.4% |
| Financial debts | 43 | €0 | €321 | +€321 | |
| Credit institutions | 430/8 | - | €321 | +€321 | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €37,940 | €50,674 | +€12,734 | +33.6% |
| Suppliers | 440/4 | €37,940 | €50,674 | +€12,734 | +33.6% |
| Advances received on contracts in progress | 46 | - | €100 | +€100 | |
| Taxes, remuneration and social security | 45 | €49,582 | €17,019 | -€32,563 | -65.7% |
| Taxes | 450/3 | €34,243 | €6,985 | -€27,258 | -79.6% |
| Remuneration and social security | 454/9 | €15,339 | €10,034 | -€5,305 | -34.6% |
| Other amounts payable | 47/48 | €445,060 | €442,901 | -€2,159 | -0.5% |
| Accrued charges and deferred income | 492/3 | €0 | €674 | +€674 | |
| Non-recurring operating income | 76A | €0 | €2,395 | +€2,395 | |
| Remuneration, social security and pensions | 62 | €91,484 | €82,332 | -€9,152 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,112 | €139,642 | +€2,529 | +1.8% |
| Other operating charges | 640/8 | €26,603 | €28,389 | +€1,787 | +6.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €354,576 | €246,491 | -€108,085 | -30.5% |
| Operating profit (loss) | 9901 | €99,377 | -€3,872 | -€103,249 | |
| Financial income | 75/76B | €4,619 | €64 | -€4,554 | -98.6% |
| Recurring financial income | 75 | €4,619 | €64 | -€4,554 | -98.6% |
| Financial charges | 65/66B | €13,225 | €10,519 | -€2,706 | -20.5% |
| Recurring financial charges | 65 | €13,225 | €10,519 | -€2,706 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €90,770 | -€14,327 | -€105,097 | |
| Income taxes | 67/77 | €29,368 | €332 | -€29,037 | -98.9% |
| Profit (loss) for the period | 9904 | €61,402 | -€14,658 | -€76,060 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,402 | -€14,658 | -€76,060 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.