HOF DEN BEER: 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.
What changed
HOF DEN BEER
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€21,720
2024 · -€20,865-€854
Equity
€302,495
2024 · €324,214-€21,720
Cash
€11
2024 · €33,182-€33,171
Balance sheet total
€2.1m
2024 · €1.7m+€411,278
Largest movements
Assets
- Tangible fixed assets +€444,815
up €444,815 (+29.9%), from €1.5m to €1.9m
- Cash -€33,171
down €33,171 (-100.0%), from €33,182 to €11
mainly Investment in fixed assets (net) (-€560,000) and Provisions (-€45,205)
Equity and liabilities
- Other debts +€486,950
up €486,950 (+112%), from €436,424 to €923,374
- Provisions -€45,205
down €45,205 (-16.8%), from €268,925 to €223,720
of which Provisions for liabilities and charges: -€34,000
- Profit (loss) carried forward -€21,720
down €21,720 (-10.7%), from -€202,099 to -€223,818
Income statement
- Provisions -€60,000
down €60,000, from €26,000 to -€34,000
- Depreciation +€29,400
up €29,400 (+34.3%), from €85,785 to €115,185
- Gross operating margin -€21,544
down €21,544 (-13.7%), from €156,790 to €135,246
- Staff costs +€8,329
up €8,329 (+22.6%), from €36,892 to €45,221
- Turnover -€6,000
down €6,000 (-3.1%), from €195,664 to €189,663
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.
Result 2024
-€20,865
Gross operating margin
-€21,544
Staff costs
-€8,329
Depreciation
-€29,400
Provisions
+€60,000
Other operating charges
-€652
Financial income
-€3
Financial charges
+€682
Taxes
-€1,608
Result 2025
-€21,720
raises the resultlowers the result
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.
From operations
+€538,226
Investment
-€560,000
Financing
-€11,397
Cash 2024
€33,182
From operations (derived)
+€538,226
Net result for the year
-€21,720
Depreciation
+€115,185
Receivables within one year
+€366
Provisions
-€45,205
Trade debts
+€3,978
Tax, wage and social debts
+€1,929
Other debts
+€486,950
Accrued charges and deferred income
-€3,258
Investment (derived)
-€560,000
Investment in fixed assets (net)
-€560,000
Financing
-€11,397
Debts after one year
-€9,868
Current portion of long-term debt
-€3,485
Short-term financial debts
+€1,956
Cash 2025
€11
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,722,022 | €2,133,300 | +€411,278 | +23.9% |
| Fixed assets | 21/28 | €1,676,874 | €2,121,689 | +€444,815 | +26.5% |
| Intangible fixed assets | 21 | €3,874 | €3,874 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,487,791 | €1,932,606 | +€444,815 | +29.9% |
| Land and buildings | 22 | €1,487,791 | €1,932,606 | +€444,815 | +29.9% |
| Financial fixed assets | 28 | €185,208 | €185,208 | = | 0.0% |
| Current assets | 29/58 | €45,148 | €11,611 | -€33,537 | -74.3% |
| Amounts receivable within one year | 40/41 | €11,966 | €11,600 | -€366 | -3.1% |
| Trade receivables | 40 | €1,366 | - | -€1,366 | |
| Other amounts receivable | 41 | €10,600 | €11,600 | +€1,000 | +9.4% |
| Cash at bank and in hand | 54/58 | €33,182 | €11 | -€33,171 | -100.0% |
| Total equity and liabilities | 10/49 | €1,722,022 | €2,133,300 | +€411,278 | +23.9% |
| Equity | 10/15 | €324,214 | €302,495 | -€21,720 | -6.7% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €154,473 | €154,473 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,030 | €20,030 | = | 0.0% |
| Legal reserve | 130 | €20,030 | €20,030 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,575 | €41,720 | -€18,855 | -31.1% |
| Distributable reserves | 133 | €73,867 | €92,723 | +€18,855 | +25.5% |
| Profit (loss) carried forward | 14 | -€202,099 | -€223,818 | -€21,720 | -10.7% |
| Provisions and deferred taxes | 16 | €268,925 | €223,720 | -€45,205 | -16.8% |
| Provisions for liabilities and charges | 160/5 | €226,976 | €192,976 | -€34,000 | -15.0% |
| Major repairs and maintenance | 162 | €226,976 | €192,976 | -€34,000 | -15.0% |
| Deferred taxes | 168 | €41,949 | €30,744 | -€11,205 | -26.7% |
| Amounts payable | 17/49 | €1,128,883 | €1,607,085 | +€478,203 | +42.4% |
| Amounts payable after more than one year | 17 | €549,990 | €540,122 | -€9,868 | -1.8% |
| Financial debts | 170/4 | €549,990 | €540,122 | -€9,868 | -1.8% |
| Amounts payable within one year | 42/48 | €572,893 | €1,064,221 | +€491,328 | +85.8% |
| Current portion of amounts payable after more than one year | 42 | €82,585 | €79,100 | -€3,485 | -4.2% |
| Financial debts | 43 | - | €1,956 | +€1,956 | |
| Credit institutions | 430/8 | - | €1,956 | +€1,956 | |
| Trade debts | 44 | €49,065 | €53,044 | +€3,978 | +8.1% |
| Suppliers | 440/4 | €49,065 | €53,044 | +€3,978 | +8.1% |
| Taxes, remuneration and social security | 45 | €4,819 | €6,748 | +€1,929 | +40.0% |
| Taxes | 450/3 | €36 | €1,647 | +€1,611 | +4,457% |
| Remuneration and social security | 454/9 | €4,783 | €5,101 | +€318 | +6.6% |
| Other amounts payable | 47/48 | €436,424 | €923,374 | +€486,950 | +112% |
| Accrued charges and deferred income | 492/3 | €6,000 | €2,742 | -€3,258 | -54.3% |
| Turnover | 70 | €195,664 | €189,663 | -€6,000 | -3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €59,890 | €54,418 | -€5,473 | -9.1% |
| Remuneration, social security and pensions | 62 | €36,892 | €45,221 | +€8,329 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,785 | €115,185 | +€29,400 | +34.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €26,000 | -€34,000 | -€60,000 | |
| Other operating charges | 640/8 | €20,763 | €21,415 | +€652 | +3.1% |
| Gross operating margin | 9900 | €156,790 | €135,246 | -€21,544 | -13.7% |
| Operating profit (loss) | 9901 | -€12,650 | -€12,575 | +€75 | +0.6% |
| Financial income | 75/76B | €11 | €8 | -€3 | -28.4% |
| Recurring financial income | 75 | €11 | €8 | -€3 | -28.4% |
| Financial charges | 65/66B | €19,391 | €18,709 | -€682 | -3.5% |
| Recurring financial charges | 65 | €19,391 | €18,709 | -€682 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | -€32,031 | -€31,277 | +€754 | +2.4% |
| Transfer from deferred taxes | 780 | €11,205 | €11,205 | = | 0.0% |
| Income taxes | 67/77 | €39 | €1,648 | +€1,608 | +4,087% |
| Profit (loss) for the period | 9904 | -€20,865 | -€21,720 | -€854 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,865 | -€21,720 | -€854 | -4.1% |
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 30 October 2026 via checked.be.