HOF TER NERING: 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 TER NERING
Largest movements
- Tangible fixed assets -€11,076
down €11,076 (-42.1%), from €26,290 to €15,214
- Cash +€6,172
up €6,172 (+461%), from €1,339 to €7,511
mainly Net result for the year (+€11,627) and Investment in fixed assets (net) (+€6,067)
- Deferred charges and accrued income -€2,645
down €2,645 (-72.7%), from €3,637 to €992
- Profit (loss) carried forward +€11,627
up €11,627 (+1.8%), from -€647,030 to -€635,403
- Other debts -€9,768
down €9,768 (-45.5%), from €21,458 to €11,690
- Debts after one year -€8,213
down €8,213 (-2.3%), from €359,083 to €350,870
of which Financial debts: -€8,213
- Trade debts -€2,490
down €2,490 (-51.6%), from €4,822 to €2,332
- Tax, wage and social debts +€673
up €673 (+64.1%), from €1,050 to €1,722
- Gross operating margin +€17,109
up €17,109 (+351%), from €4,871 to €21,980
- Other operating charges +€2,790
up €2,790 (+284%), from €984 to €3,773
- Financial charges -€976
down €976 (-41.0%), from €2,383 to €1,407
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 | €33,319 | €25,554 | -€7,765 | -23.3% |
| Fixed assets | 21/28 | €26,290 | €15,214 | -€11,076 | -42.1% |
| Tangible fixed assets | 22/27 | €26,290 | €15,214 | -€11,076 | -42.1% |
| Land and buildings | 22 | €7,205 | €1,821 | -€5,383 | -74.7% |
| Plant, machinery and equipment | 23 | €2,067 | - | -€2,067 | |
| Furniture and vehicles | 24 | €17,018 | €13,393 | -€3,625 | -21.3% |
| Current assets | 29/58 | €7,029 | €10,340 | +€3,311 | +47.1% |
| Amounts receivable within one year | 40/41 | €2,053 | €1,837 | -€216 | -10.5% |
| Trade receivables | 40 | €966 | €1,803 | +€837 | +86.7% |
| Other amounts receivable | 41 | €1,088 | €34 | -€1,053 | -96.8% |
| Cash at bank and in hand | 54/58 | €1,339 | €7,511 | +€6,172 | +461% |
| Deferred charges and accrued income | 490/1 | €3,637 | €992 | -€2,645 | -72.7% |
| Total equity and liabilities | 10/49 | €33,319 | €25,554 | -€7,765 | -23.3% |
| Equity | 10/15 | -€360,900 | -€349,273 | +€11,627 | +3.2% |
| Contributions | 10/11 | €269,425 | €269,425 | = | 0.0% |
| Capital | 10 | €269,425 | €269,425 | = | 0.0% |
| Issued capital | 100 | €269,425 | €269,425 | = | 0.0% |
| Reserves | 13 | €16,705 | €16,705 | = | 0.0% |
| Distributable reserves | 133 | €16,705 | €16,705 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€647,030 | -€635,403 | +€11,627 | +1.8% |
| Amounts payable | 17/49 | €394,219 | €374,827 | -€19,392 | -4.9% |
| Amounts payable after more than one year | 17 | €359,083 | €350,870 | -€8,213 | -2.3% |
| Financial debts | 170/4 | €19,083 | €10,870 | -€8,213 | -43.0% |
| Other amounts payable | 178/9 | €340,000 | €340,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,136 | €23,957 | -€11,179 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €7,806 | €8,213 | +€407 | +5.2% |
| Trade debts | 44 | €4,822 | €2,332 | -€2,490 | -51.6% |
| Suppliers | 440/4 | €4,822 | €2,332 | -€2,490 | -51.6% |
| Taxes, remuneration and social security | 45 | €1,050 | €1,722 | +€673 | +64.1% |
| Taxes | 450/3 | €1,050 | €1,722 | +€673 | +64.1% |
| Other amounts payable | 47/48 | €21,458 | €11,690 | -€9,768 | -45.5% |
| Non-recurring operating income | 76A | €3,160 | - | -€3,160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,223 | €5,008 | -€215 | -4.1% |
| Other operating charges | 640/8 | €984 | €3,773 | +€2,790 | +284% |
| Gross operating margin | 9900 | €4,871 | €21,980 | +€17,109 | +351% |
| Operating profit (loss) | 9901 | -€1,336 | €13,198 | +€14,534 | |
| Financial income | 75/76B | €1 | €1 | -€0 | -8.6% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -8.6% |
| Financial charges | 65/66B | €2,383 | €1,407 | -€976 | -41.0% |
| Recurring financial charges | 65 | €2,383 | €1,407 | -€976 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,718 | €11,792 | +€15,510 | |
| Income taxes | 67/77 | €216 | €165 | -€51 | -23.8% |
| Profit (loss) for the period | 9904 | -€3,934 | €11,627 | +€15,561 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,934 | €11,627 | +€15,561 |
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 22 October 2026 via checked.be.