HOF TEN AS: 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.
HOF TEN AS
Largest movements
- Cash -€25,200
down €25,200 (-24.6%), from €102,331 to €77,131
mainly Net result for the year (-€42,846) and Contributions, distributions and other (-€7,271)
- Deferred charges and accrued income -€8,868
down €8,868 (-81.4%), from €10,900 to €2,033
- Stocks and contracts -€8,191
down €8,191 (-78.1%), from €10,486 to €2,295
- Receivables within one year +€5,120
up €5,120 (+52.3%), from €9,781 to €14,902
of which Trade receivables: +€5,185
- Tangible fixed assets -€3,908
down €3,908 (-2.4%), from €159,591 to €155,683
- Profit (loss) carried forward -€42,846
down €42,846 (-22.7%), from €188,548 to €145,702
- Other debts +€9,847
up €9,847 (+8,877%), from €111 to €9,958
- Reserves -€7,271
down €7,271 (-10.1%), from €71,735 to €64,464
- Trade debts -€5,547
down €5,547 (-71.3%), from €7,783 to €2,237
- Tax, wage and social debts +€4,770
up €4,770 (+75.5%), from €6,320 to €11,091
of which Taxes: +€5,704
- Gross operating margin -€68,443
down €68,443, from €66,296 to -€2,147
- Staff costs -€8,628
down €8,628 (-20.1%), from €42,832 to €34,204
- Taxes -€2,812
down €2,812, from €2,560 to -€252
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €293,090 | €252,043 | -€41,047 | -14.0% |
| Fixed assets | 21/28 | €159,591 | €155,683 | -€3,908 | -2.4% |
| Tangible fixed assets | 22/27 | €159,591 | €155,683 | -€3,908 | -2.4% |
| Land and buildings | 22 | €151,224 | €149,272 | -€1,952 | -1.3% |
| Plant, machinery and equipment | 23 | €5,700 | €4,997 | -€704 | -12.3% |
| Furniture and vehicles | 24 | €2,667 | €1,415 | -€1,252 | -47.0% |
| Current assets | 29/58 | €133,499 | €96,360 | -€37,139 | -27.8% |
| Stocks and contracts in progress | 3 | €10,486 | €2,295 | -€8,191 | -78.1% |
| Stocks | 30/36 | €10,486 | €2,295 | -€8,191 | -78.1% |
| Amounts receivable within one year | 40/41 | €9,781 | €14,902 | +€5,120 | +52.3% |
| Trade receivables | 40 | €5,575 | €10,760 | +€5,185 | +93.0% |
| Other amounts receivable | 41 | €4,207 | €4,142 | -€65 | -1.5% |
| Cash at bank and in hand | 54/58 | €102,331 | €77,131 | -€25,200 | -24.6% |
| Deferred charges and accrued income | 490/1 | €10,900 | €2,033 | -€8,868 | -81.4% |
| Total equity and liabilities | 10/49 | €293,090 | €252,043 | -€41,047 | -14.0% |
| Equity | 10/15 | €278,875 | €228,758 | -€50,117 | -18.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €71,735 | €64,464 | -€7,271 | -10.1% |
| Distributable reserves | 133 | €71,735 | €64,464 | -€7,271 | -10.1% |
| Profit (loss) carried forward | 14 | €188,548 | €145,702 | -€42,846 | -22.7% |
| Amounts payable | 17/49 | €14,215 | €23,285 | +€9,070 | +63.8% |
| Amounts payable within one year | 42/48 | €14,215 | €23,285 | +€9,070 | +63.8% |
| Trade debts | 44 | €7,783 | €2,237 | -€5,547 | -71.3% |
| Suppliers | 440/4 | €7,783 | €2,237 | -€5,547 | -71.3% |
| Taxes, remuneration and social security | 45 | €6,320 | €11,091 | +€4,770 | +75.5% |
| Taxes | 450/3 | €1,196 | €6,900 | +€5,704 | +477% |
| Remuneration and social security | 454/9 | €5,125 | €4,191 | -€933 | -18.2% |
| Other amounts payable | 47/48 | €111 | €9,958 | +€9,847 | +8,877% |
| Remuneration, social security and pensions | 62 | €42,832 | €34,204 | -€8,628 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,125 | €3,908 | -€217 | -5.3% |
| Other operating charges | 640/8 | €2,992 | €3,034 | +€42 | +1.4% |
| Gross operating margin | 9900 | €66,296 | -€2,147 | -€68,443 | |
| Operating profit (loss) | 9901 | €16,347 | -€43,293 | -€59,640 | |
| Financial income | 75/76B | €401 | €365 | -€36 | -9.0% |
| Recurring financial income | 75 | €401 | €365 | -€36 | -9.0% |
| Financial charges | 65/66B | €320 | €170 | -€150 | -46.8% |
| Recurring financial charges | 65 | €320 | €170 | -€150 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €16,428 | -€43,099 | -€59,527 | |
| Income taxes | 67/77 | €2,560 | -€252 | -€2,812 | |
| Profit (loss) for the period | 9904 | €13,868 | -€42,846 | -€56,715 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,868 | -€42,846 | -€56,715 |
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 18 October 2026 via checked.be.