HOFABE: 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.
HOFABE
Largest movements
- Tangible fixed assets +€604,296
up €604,296 (+26.6%), from €2.3m to €2.9m
of which Land and buildings: +€607,785
- Receivables within one year +€63,059
up €63,059 (+49.5%), from €127,292 to €190,351
of which Trade receivables: +€73,853
- Deferred charges and accrued income -€40,000
no longer reported in 2025 (was €40,000)
- Other debts +€313,643
up €313,643 (+66.7%), from €470,152 to €783,794
- Debts after one year +€268,023
up €268,023 (+22.8%), from €1.2m to €1.4m
- Other operating charges -€194,480
down €194,480 (-96.5%), from €201,491 to €7,011
- Depreciation +€122,723
up €122,723 (+445.1%), from €27,572 to €150,295
- Gross operating margin -€40,981
down €40,981 (-17.6%), from €232,223 to €191,243
- Financial charges -€33,060
down €33,060 (-98.6%), from €33,521 to €461
- Taxes +€14,973
new in 2025: €14,973
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 | €2,829,137 | €3,468,030 | +€638,893 | +22.6% |
| Fixed assets | 21/28 | €2,368,119 | €2,972,414 | +€604,296 | +25.5% |
| Tangible fixed assets | 22/27 | €2,267,619 | €2,871,914 | +€604,296 | +26.6% |
| Land and buildings | 22 | €997,360 | €1,605,145 | +€607,785 | +60.9% |
| Other tangible fixed assets | 26 | €1,270,259 | €1,266,770 | -€3,489 | -0.3% |
| Financial fixed assets | 28 | €100,500 | €100,500 | = | 0.0% |
| Current assets | 29/58 | €461,018 | €495,616 | +€34,598 | +7.5% |
| Amounts receivable within one year | 40/41 | €127,292 | €190,351 | +€63,059 | +49.5% |
| Trade receivables | 40 | €67,581 | €141,434 | +€73,853 | +109.3% |
| Other amounts receivable | 41 | €59,712 | €48,917 | -€10,794 | -18.1% |
| Cash at bank and in hand | 54/58 | €293,726 | €305,265 | +€11,539 | +3.9% |
| Deferred charges and accrued income | 490/1 | €40,000 | - | -€40,000 | |
| Total equity and liabilities | 10/49 | €2,829,137 | €3,468,030 | +€638,893 | +22.6% |
| Equity | 10/15 | €1,084,735 | €1,103,243 | +€18,507 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €931,361 | €931,361 | = | 0.0% |
| Reserves | 13 | €55 | €55 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55 | €55 | = | 0.0% |
| Reserves not available under the articles | 1311 | €55 | €55 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,720 | €153,227 | +€18,507 | +13.7% |
| Amounts payable | 17/49 | €1,744,402 | €2,364,788 | +€620,386 | +35.6% |
| Amounts payable after more than one year | 17 | €1,174,335 | €1,442,357 | +€268,023 | +22.8% |
| Financial debts | 170/4 | €1,174,335 | €1,442,357 | +€268,023 | +22.8% |
| Amounts payable within one year | 42/48 | €570,067 | €922,430 | +€352,363 | +61.8% |
| Current portion of amounts payable after more than one year | 42 | €90,693 | €103,265 | +€12,573 | +13.9% |
| Trade debts | 44 | €1,953 | €25,740 | +€23,788 | +1218.3% |
| Suppliers | 440/4 | €1,953 | €25,740 | +€23,788 | +1218.3% |
| Taxes, remuneration and social security | 45 | €7,270 | €9,630 | +€2,360 | +32.5% |
| Taxes | 450/3 | €7,270 | €9,630 | +€2,360 | +32.5% |
| Other amounts payable | 47/48 | €470,152 | €783,794 | +€313,643 | +66.7% |
| Non-recurring operating income | 76A | - | €2,435 | +€2,435 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,572 | €150,295 | +€122,723 | +445.1% |
| Other operating charges | 640/8 | €201,491 | €7,011 | -€194,480 | -96.5% |
| Gross operating margin | 9900 | €232,223 | €191,243 | -€40,981 | -17.6% |
| Operating profit (loss) | 9901 | €3,160 | €33,937 | +€30,777 | +973.9% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €33,521 | €461 | -€33,060 | -98.6% |
| Recurring financial charges | 65 | €33,521 | €461 | -€33,060 | -98.6% |
| Profit (loss) for the period before taxes | 9903 | -€30,360 | €33,480 | +€63,840 | |
| Income taxes | 67/77 | - | €14,973 | +€14,973 | |
| Profit (loss) for the period | 9904 | -€30,360 | €18,507 | +€48,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,360 | €18,507 | +€48,867 |
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 7 October 2026 via checked.be.