HOF TER VONTE: 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 VONTE
Largest movements
- Stocks and contracts -€36,308
down €36,308 (-18.7%), from €194,175 to €157,867
- Tangible fixed assets +€33,803
new in 2025: €33,803
- Receivables within one year -€16,858
down €16,858 (-41.6%), from €40,476 to €23,618
of which Trade receivables: -€17,128
- Cash +€11,773
up €11,773 (+13.0%), from €90,893 to €102,666
mainly Net result for the year (+€67,471) and Stocks and contracts (+€36,308)
- Trade debts -€99,616
down €99,616 (-60.7%), from €164,103 to €64,487
- Reserves +€67,471
up €67,471 (+66.4%), from €101,575 to €169,046
- Tax, wage and social debts +€24,434
up €24,434 (+51.3%), from €47,599 to €72,033
- Gross operating margin -€44,857
down €44,857 (-31.0%), from €144,899 to €100,042
- Taxes -€16,519
down €16,519 (-37.1%), from €44,525 to €28,006
- Depreciation +€7,313
new in 2025: €7,313
- Financial income +€2,126
up €2,126 (+114%), from €1,860 to €3,987
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 | €341,919 | €334,609 | -€7,310 | -2.1% |
| Fixed assets | 21/28 | €16,375 | €50,178 | +€33,803 | +206% |
| Tangible fixed assets | 22/27 | - | €33,803 | +€33,803 | |
| Furniture and vehicles | 24 | - | €33,803 | +€33,803 | |
| Financial fixed assets | 28 | €16,375 | €16,375 | = | 0.0% |
| Current assets | 29/58 | €325,544 | €284,431 | -€41,113 | -12.6% |
| Stocks and contracts in progress | 3 | €194,175 | €157,867 | -€36,308 | -18.7% |
| Stocks | 30/36 | €194,175 | €157,867 | -€36,308 | -18.7% |
| Amounts receivable within one year | 40/41 | €40,476 | €23,618 | -€16,858 | -41.6% |
| Trade receivables | 40 | €40,476 | €23,348 | -€17,128 | -42.3% |
| Other amounts receivable | 41 | - | €270 | +€270 | |
| Cash at bank and in hand | 54/58 | €90,893 | €102,666 | +€11,773 | +13.0% |
| Deferred charges and accrued income | 490/1 | - | €280 | +€280 | |
| Total equity and liabilities | 10/49 | €341,919 | €334,609 | -€7,310 | -2.1% |
| Equity | 10/15 | €114,075 | €181,546 | +€67,471 | +59.1% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €101,575 | €169,046 | +€67,471 | +66.4% |
| Distributable reserves | 133 | €101,575 | €169,046 | +€67,471 | +66.4% |
| Amounts payable | 17/49 | €227,844 | €153,063 | -€74,781 | -32.8% |
| Amounts payable within one year | 42/48 | €227,844 | €153,063 | -€74,781 | -32.8% |
| Trade debts | 44 | €164,103 | €64,487 | -€99,616 | -60.7% |
| Suppliers | 440/4 | €164,103 | €64,487 | -€99,616 | -60.7% |
| Taxes, remuneration and social security | 45 | €47,599 | €72,033 | +€24,434 | +51.3% |
| Taxes | 450/3 | €47,599 | €72,033 | +€24,434 | +51.3% |
| Other amounts payable | 47/48 | €16,142 | €16,544 | +€402 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,313 | +€7,313 | |
| Other operating charges | 640/8 | €543 | €646 | +€104 | +19.1% |
| Gross operating margin | 9900 | €144,899 | €100,042 | -€44,857 | -31.0% |
| Operating profit (loss) | 9901 | €144,357 | €92,083 | -€52,274 | -36.2% |
| Financial income | 75/76B | €1,860 | €3,987 | +€2,126 | +114% |
| Recurring financial income | 75 | €1,860 | €3,987 | +€2,126 | +114% |
| Financial charges | 65/66B | €117 | €593 | +€476 | +409% |
| Recurring financial charges | 65 | €117 | €593 | +€476 | +409% |
| Profit (loss) for the period before taxes | 9903 | €146,100 | €95,477 | -€50,623 | -34.6% |
| Income taxes | 67/77 | €44,525 | €28,006 | -€16,519 | -37.1% |
| Profit (loss) for the period | 9904 | €101,575 | €67,471 | -€34,105 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €101,575 | €67,471 | -€34,105 | -33.6% |
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.