HOEVE K: what changed
Two fiscal 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 K
Largest movements
- Tangible fixed assets +€104,950
up €104,950 (+126.6%), from €82,919 to €187,869
of which Land and buildings: +€63,224
- Stocks and contracts +€56,863
up €56,863 (+114.3%), from €49,758 to €106,621
of which Stocks: +€56,863
- Cash -€25,976
down €25,976 (-18.8%), from €137,881 to €111,905
mainly Investment in fixed assets (net) (-€155,845) and Trade debts (-€61,060)
- Receivables within one year -€17,135
down €17,135 (-36.5%), from €46,882 to €29,747
of which Trade receivables: -€15,077
- Deferred charges and accrued income +€4,992
up €4,992 (+248.9%), from €2,005 to €6,998
- Other debts +€136,968
up €136,968 (+397.8%), from €34,428 to €171,396
- Trade debts -€61,060
down €61,060 (-81.4%), from €75,032 to €13,972
- Contributions +€18,600
up €18,600 (+100.0%), from €18,600 to €37,200
- Debts after one year +€18,409
new in 2025: €18,409
- Current portion of long-term debt +€8,182
new in 2025: €8,182
- Gross operating margin -€32,695
down €32,695 (-34.9%), from €93,561 to €60,867
- Depreciation +€24,030
up €24,030 (+89.4%), from €26,865 to €50,895
- Taxes -€17,143
down €17,143 (-97.8%), from €17,529 to €386
- Financial charges +€1,706
up €1,706 (+292.3%), from €584 to €2,290
- Other operating charges +€1,336
up €1,336 (+20.1%), from €6,658 to €7,994
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 | €321,181 | €444,876 | +€123,695 | +38.5% |
| Fixed assets | 21/28 | €84,654 | €189,605 | +€104,950 | +124.0% |
| Tangible fixed assets | 22/27 | €82,919 | €187,869 | +€104,950 | +126.6% |
| Land and buildings | 22 | €21,278 | €84,502 | +€63,224 | +297.1% |
| Plant, machinery and equipment | 23 | €48,084 | €92,810 | +€44,726 | +93.0% |
| Furniture and vehicles | 24 | €13,558 | €10,558 | -€3,000 | -22.1% |
| Financial fixed assets | 28 | €1,735 | €1,735 | = | 0.0% |
| Current assets | 29/58 | €236,527 | €255,271 | +€18,744 | +7.9% |
| Stocks and contracts in progress | 3 | €49,758 | €106,621 | +€56,863 | +114.3% |
| Stocks | 30/36 | €49,758 | €106,621 | +€56,863 | +114.3% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €46,882 | €29,747 | -€17,135 | -36.5% |
| Trade receivables | 40 | €38,750 | €23,673 | -€15,077 | -38.9% |
| Other amounts receivable | 41 | €8,132 | €6,074 | -€2,058 | -25.3% |
| Cash at bank and in hand | 54/58 | €137,881 | €111,905 | -€25,976 | -18.8% |
| Deferred charges and accrued income | 490/1 | €2,005 | €6,998 | +€4,992 | +248.9% |
| Total equity and liabilities | 10/49 | €321,181 | €444,876 | +€123,695 | +38.5% |
| Equity | 10/15 | €209,703 | €229,845 | +€20,141 | +9.6% |
| Contributions | 10/11 | €18,600 | €37,200 | +€18,600 | +100.0% |
| Reserves | 13 | €189,941 | €191,676 | +€1,735 | +0.9% |
| Distributable reserves | 133 | €189,941 | €191,676 | +€1,735 | +0.9% |
| Investment grants | 15 | €1,163 | €969 | -€194 | -16.7% |
| Provisions and deferred taxes | 16 | €61 | €51 | -€10 | -16.7% |
| Deferred taxes | 168 | €61 | €51 | -€10 | -16.7% |
| Amounts payable | 17/49 | €111,416 | €214,980 | +€103,564 | +93.0% |
| Amounts payable after more than one year | 17 | - | €18,409 | +€18,409 | |
| Financial debts | 170/4 | - | €18,409 | +€18,409 | |
| Amounts payable within one year | 42/48 | €111,416 | €194,128 | +€82,711 | +74.2% |
| Current portion of amounts payable after more than one year | 42 | - | €8,182 | +€8,182 | |
| Trade debts | 44 | €75,032 | €13,972 | -€61,060 | -81.4% |
| Suppliers | 440/4 | €75,032 | €13,972 | -€61,060 | -81.4% |
| Taxes, remuneration and social security | 45 | €1,957 | €577 | -€1,379 | -70.5% |
| Taxes | 450/3 | €1,957 | €577 | -€1,379 | -70.5% |
| Other amounts payable | 47/48 | €34,428 | €171,396 | +€136,968 | +397.8% |
| Accrued charges and deferred income | 492/3 | - | €2,444 | +€2,444 | |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,865 | €50,895 | +€24,030 | +89.4% |
| Other operating charges | 640/8 | €6,658 | €7,994 | +€1,336 | +20.1% |
| Non-recurring operating charges | 66A | €7,027 | €18 | -€7,009 | -99.7% |
| Gross operating margin | 9900 | €93,561 | €60,867 | -€32,695 | -34.9% |
| Operating profit (loss) | 9901 | €53,012 | €1,959 | -€51,053 | -96.3% |
| Financial income | 75/76B | €490 | €1,159 | +€669 | +136.7% |
| Recurring financial income | 75 | €490 | €1,159 | +€669 | +136.7% |
| Financial charges | 65/66B | €584 | €2,290 | +€1,706 | +292.3% |
| Recurring financial charges | 65 | €584 | €2,290 | +€1,706 | +292.3% |
| Profit (loss) for the period before taxes | 9903 | €52,918 | €828 | -€52,090 | -98.4% |
| Transfer from deferred taxes | 780 | €10 | €10 | = | 0.0% |
| Income taxes | 67/77 | €17,529 | €386 | -€17,143 | -97.8% |
| Profit (loss) for the period | 9904 | €35,399 | €453 | -€34,947 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,399 | €453 | -€34,947 | -98.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.