HOF: 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.
HOF
Largest movements
- Receivables within one year -€29,866
down €29,866 (-72.3%), from €41,316 to €11,450
of which Trade receivables: -€35,195
- Stocks and contracts +€6,488
new in 2025: €6,488
- Cash +€6,339
up €6,339 (+4.6%), from €136,748 to €143,088
mainly Net result for the year (+€31,505) and Receivables within one year (+€29,866)
- Reserves +€31,505
up €31,505 (+86.8%), from €36,293 to €67,798
- Trade debts -€29,897
down €29,897 (-83.1%), from €35,974 to €6,077
- Tax, wage and social debts -€12,854
down €12,854 (-17.0%), from €75,666 to €62,812
of which Taxes: -€13,086
- Debts after one year -€9,815
down €9,815 (-26.6%), from €36,833 to €27,017
- Accrued charges and deferred income +€2,098
up €2,098 (+1040.2%), from €202 to €2,299
- Gross operating margin -€62,460
down €62,460 (-16.4%), from €381,726 to €319,266
- Staff costs -€55,033
down €55,033 (-17.2%), from €319,813 to €264,780
- Other operating charges +€5,243
up €5,243 (+146.0%), from €3,591 to €8,835
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 | €200,497 | €181,820 | -€18,678 | -9.3% |
| Fixed assets | 21/28 | €22,125 | €20,550 | -€1,574 | -7.1% |
| Tangible fixed assets | 22/27 | €21,125 | €19,550 | -€1,574 | -7.5% |
| Plant, machinery and equipment | 23 | €13,839 | €11,338 | -€2,501 | -18.1% |
| Furniture and vehicles | 24 | €7,286 | €8,212 | +€926 | +12.7% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €178,373 | €161,269 | -€17,103 | -9.6% |
| Stocks and contracts in progress | 3 | - | €6,488 | +€6,488 | |
| Stocks | 30/36 | - | €6,488 | +€6,488 | |
| Amounts receivable within one year | 40/41 | €41,316 | €11,450 | -€29,866 | -72.3% |
| Trade receivables | 40 | €37,890 | €2,696 | -€35,195 | -92.9% |
| Other amounts receivable | 41 | €3,425 | €8,754 | +€5,329 | +155.6% |
| Cash at bank and in hand | 54/58 | €136,748 | €143,088 | +€6,339 | +4.6% |
| Deferred charges and accrued income | 490/1 | €309 | €244 | -€64 | -20.9% |
| Total equity and liabilities | 10/49 | €200,497 | €181,820 | -€18,678 | -9.3% |
| Equity | 10/15 | €42,293 | €73,798 | +€31,505 | +74.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €36,293 | €67,798 | +€31,505 | +86.8% |
| Distributable reserves | 133 | €36,293 | €67,798 | +€31,505 | +86.8% |
| Amounts payable | 17/49 | €158,204 | €108,022 | -€50,182 | -31.7% |
| Amounts payable after more than one year | 17 | €36,833 | €27,017 | -€9,815 | -26.6% |
| Financial debts | 170/4 | €36,833 | €27,017 | -€9,815 | -26.6% |
| Amounts payable within one year | 42/48 | €121,170 | €78,705 | -€42,465 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €9,530 | €9,815 | +€286 | +3.0% |
| Trade debts | 44 | €35,974 | €6,077 | -€29,897 | -83.1% |
| Suppliers | 440/4 | €35,974 | €6,077 | -€29,897 | -83.1% |
| Taxes, remuneration and social security | 45 | €75,666 | €62,812 | -€12,854 | -17.0% |
| Taxes | 450/3 | €40,614 | €27,528 | -€13,086 | -32.2% |
| Remuneration and social security | 454/9 | €35,052 | €35,285 | +€233 | +0.7% |
| Accrued charges and deferred income | 492/3 | €202 | €2,299 | +€2,098 | +1040.2% |
| Remuneration, social security and pensions | 62 | €319,813 | €264,780 | -€55,033 | -17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,002 | €4,354 | -€3,647 | -45.6% |
| Other operating charges | 640/8 | €3,591 | €8,835 | +€5,243 | +146.0% |
| Gross operating margin | 9900 | €381,726 | €319,266 | -€62,460 | -16.4% |
| Operating profit (loss) | 9901 | €50,320 | €41,297 | -€9,023 | -17.9% |
| Financial income | 75/76B | €3,908 | €3,685 | -€223 | -5.7% |
| Recurring financial income | 75 | €3,908 | €3,685 | -€223 | -5.7% |
| Financial charges | 65/66B | €4,092 | €1,607 | -€2,484 | -60.7% |
| Recurring financial charges | 65 | €4,092 | €1,607 | -€2,484 | -60.7% |
| Profit (loss) for the period before taxes | 9903 | €50,136 | €43,375 | -€6,762 | -13.5% |
| Income taxes | 67/77 | €13,843 | €11,870 | -€1,973 | -14.3% |
| Profit (loss) for the period | 9904 | €36,293 | €31,505 | -€4,788 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,293 | €31,505 | -€4,788 | -13.2% |
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 30 September 2026 via checked.be.