HOEVEKE: 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.
HOEVEKE
Largest movements
- Cash +€250,818
up €250,818 (+505.6%), from €49,607 to €300,424
mainly Contributions, distributions and other (+€241,213) and Net result for the year (+€135,896)
- Deferred charges and accrued income +€241,516
new in 2025: €241,516
- Receivables within one year -€127,958
down €127,958 (-84.1%), from €152,231 to €24,273
of which Other amounts receivable: -€142,305
- Tangible fixed assets -€114,367
down €114,367 (-4.0%), from €2.9m to €2.7m
of which Land and buildings: -€88,606
- Reserves +€377,109
up €377,109 (+135.0%), from €279,374 to €656,483
of which Tax-exempt reserves: +€319,868
- Other debts -€142,769
down €142,769 (-41.5%), from €343,753 to €200,984
- Provisions +€106,623
up €106,623 (+291.8%), from €36,538 to €143,161
- Debts after one year -€67,050
down €67,050 (-5.3%), from €1.3m to €1.2m
- Gross operating margin +€450,874
up €450,874 (+220.6%), from €204,348 to €655,222
- Financial charges -€21,637
down €21,637 (-45.2%), from €47,839 to €26,202
- Taxes +€17,362
up €17,362 (+473.2%), from €3,669 to €21,032
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 | €3,056,913 | €3,306,921 | +€250,008 | +8.2% |
| Fixed assets | 21/28 | €2,855,075 | €2,740,708 | -€114,367 | -4.0% |
| Tangible fixed assets | 22/27 | €2,855,075 | €2,740,708 | -€114,367 | -4.0% |
| Land and buildings | 22 | €2,722,554 | €2,633,948 | -€88,606 | -3.3% |
| Plant, machinery and equipment | 23 | €131,803 | €106,256 | -€25,546 | -19.4% |
| Furniture and vehicles | 24 | €719 | €504 | -€215 | -29.9% |
| Current assets | 29/58 | €201,838 | €566,213 | +€364,375 | +180.5% |
| Amounts receivable within one year | 40/41 | €152,231 | €24,273 | -€127,958 | -84.1% |
| Trade receivables | 40 | €9,678 | €24,025 | +€14,347 | +148.2% |
| Other amounts receivable | 41 | €142,553 | €248 | -€142,305 | -99.8% |
| Cash at bank and in hand | 54/58 | €49,607 | €300,424 | +€250,818 | +505.6% |
| Deferred charges and accrued income | 490/1 | - | €241,516 | +€241,516 | |
| Total equity and liabilities | 10/49 | €3,056,913 | €3,306,921 | +€250,008 | +8.2% |
| Equity | 10/15 | €1,311,754 | €1,688,863 | +€377,109 | +28.7% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Revaluation surpluses | 12 | €1,001,393 | €1,001,393 | = | 0.0% |
| Reserves | 13 | €279,374 | €656,483 | +€377,109 | +135.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €116,614 | €436,483 | +€319,868 | +274.3% |
| Distributable reserves | 133 | €159,661 | €216,901 | +€57,241 | +35.9% |
| Provisions and deferred taxes | 16 | €36,538 | €143,161 | +€106,623 | +291.8% |
| Deferred taxes | 168 | €36,538 | €143,161 | +€106,623 | +291.8% |
| Amounts payable | 17/49 | €1,708,621 | €1,474,898 | -€233,723 | -13.7% |
| Amounts payable after more than one year | 17 | €1,259,327 | €1,192,277 | -€67,050 | -5.3% |
| Financial debts | 170/4 | €1,259,327 | €1,192,277 | -€67,050 | -5.3% |
| Amounts payable within one year | 42/48 | €449,294 | €282,620 | -€166,674 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €65,821 | €67,050 | +€1,229 | +1.9% |
| Trade debts | 44 | €15,026 | €3,578 | -€11,447 | -76.2% |
| Suppliers | 440/4 | €15,026 | €3,578 | -€11,447 | -76.2% |
| Taxes, remuneration and social security | 45 | €24,695 | €11,008 | -€13,686 | -55.4% |
| Taxes | 450/3 | €22,295 | €7,708 | -€14,586 | -65.4% |
| Remuneration and social security | 454/9 | €2,400 | €3,300 | +€900 | +37.5% |
| Other amounts payable | 47/48 | €343,753 | €200,984 | -€142,769 | -41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,773 | €114,367 | +€594 | +0.5% |
| Other operating charges | 640/8 | €10,066 | €9,889 | -€177 | -1.8% |
| Gross operating margin | 9900 | €204,348 | €655,222 | +€450,874 | +220.6% |
| Operating profit (loss) | 9901 | €80,508 | €530,965 | +€450,458 | +559.5% |
| Financial charges | 65/66B | €47,839 | €26,202 | -€21,637 | -45.2% |
| Recurring financial charges | 65 | €47,839 | €26,202 | -€21,637 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €32,669 | €504,763 | +€472,094 | +1445.1% |
| Transfer from deferred taxes | 780 | €1,923 | €13,984 | +€12,061 | +627.1% |
| Transfer to deferred taxes | 680 | - | €361,820 | +€361,820 | |
| Income taxes | 67/77 | €3,669 | €21,032 | +€17,362 | +473.2% |
| Profit (loss) for the period | 9904 | €30,923 | €135,896 | +€104,973 | +339.5% |
| Transfer from tax-exempt reserves | 789 | €5,769 | €41,951 | +€36,182 | +627.1% |
| Transfer to tax-exempt reserves | 689 | - | €120,607 | +€120,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,692 | €57,241 | +€20,548 | +56.0% |
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 1 October 2026 via checked.be.