HOFIN: 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.
HOFIN
Largest movements
- Cash -€384,770
down €384,770 (-91.0%), from €422,901 to €38,132
mainly Current investments (-€250,610) and Debts after one year (-€170,145)
- Current investments +€250,610
up €250,610 (+31.4%), from €798,854 to €1.0m
- Tangible fixed assets -€47,572
down €47,572 (-10.2%), from €466,301 to €418,729
- Debts after one year -€170,145
down €170,145 (-22.8%), from €746,913 to €576,768
- Reserves +€93,350
up €93,350 (+745%), from €12,533 to €105,883
- Other debts -€90,000
down €90,000 (-100%), from €90,000 to €0
- Current portion of long-term debt -€19,163
down €19,163 (-17.4%), from €110,367 to €91,204
- Financial income -€28,814
down €28,814 (-33.2%), from €86,789 to €57,975
of which Financial income: -€28,814
- Financial charges -€13,894
down €13,894 (-30.9%), from €45,016 to €31,122
- Taxes -€5,125
down €5,125 (-15.1%), from €34,023 to €28,898
- Gross operating margin +€4,694
up €4,694 (+3.2%), from €147,181 to €151,875
- Other operating charges -€2,377
down €2,377 (-21.1%), from €11,285 to €8,908
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 | €1,758,857 | €1,582,201 | -€176,656 | -10.0% |
| Fixed assets | 21/28 | €466,301 | €418,729 | -€47,572 | -10.2% |
| Tangible fixed assets | 22/27 | €466,301 | €418,729 | -€47,572 | -10.2% |
| Land and buildings | 22 | €466,301 | €418,729 | -€47,572 | -10.2% |
| Current assets | 29/58 | €1,292,556 | €1,163,473 | -€129,084 | -10.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,358 | €16,995 | +€1,637 | +10.7% |
| Trade receivables | 40 | €9,521 | €2,557 | -€6,964 | -73.1% |
| Other amounts receivable | 41 | €5,837 | €14,438 | +€8,601 | +147% |
| Current investments | 50/53 | €798,854 | €1,049,464 | +€250,610 | +31.4% |
| Cash at bank and in hand | 54/58 | €422,901 | €38,132 | -€384,770 | -91.0% |
| Deferred charges and accrued income | 490/1 | €5,443 | €8,882 | +€3,439 | +63.2% |
| Total equity and liabilities | 10/49 | €1,758,857 | €1,582,201 | -€176,656 | -10.0% |
| Equity | 10/15 | €792,783 | €886,133 | +€93,350 | +11.8% |
| Contributions | 10/11 | €780,250 | €780,250 | = | 0.0% |
| Reserves | 13 | €12,533 | €105,883 | +€93,350 | +745% |
| Distributable reserves | 133 | €12,533 | €105,883 | +€93,350 | +745% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €966,075 | €696,069 | -€270,006 | -27.9% |
| Amounts payable after more than one year | 17 | €746,913 | €576,768 | -€170,145 | -22.8% |
| Financial debts | 170/4 | €746,913 | €576,768 | -€170,145 | -22.8% |
| Amounts payable within one year | 42/48 | €217,710 | €118,051 | -€99,659 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €110,367 | €91,204 | -€19,163 | -17.4% |
| Financial debts | 43 | - | €8,795 | +€8,795 | |
| Credit institutions | 430/8 | - | €8,795 | +€8,795 | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €17,343 | €18,051 | +€708 | +4.1% |
| Taxes | 450/3 | €17,343 | €18,051 | +€708 | +4.1% |
| Other amounts payable | 47/48 | €90,000 | €0 | -€90,000 | -100% |
| Accrued charges and deferred income | 492/3 | €1,452 | €1,250 | -€202 | -13.9% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,572 | €47,572 | = | 0.0% |
| Other operating charges | 640/8 | €11,285 | €8,908 | -€2,377 | -21.1% |
| Gross operating margin | 9900 | €147,181 | €151,875 | +€4,694 | +3.2% |
| Operating profit (loss) | 9901 | €88,323 | €95,394 | +€7,071 | +8.0% |
| Financial income | 75/76B | €86,789 | €57,975 | -€28,814 | -33.2% |
| Recurring financial income | 75 | €86,789 | €57,975 | -€28,814 | -33.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €45,016 | €31,122 | -€13,894 | -30.9% |
| Recurring financial charges | 65 | €45,016 | €31,122 | -€13,894 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €130,096 | €122,248 | -€7,849 | -6.0% |
| Income taxes | 67/77 | €34,023 | €28,898 | -€5,125 | -15.1% |
| Profit (loss) for the period | 9904 | €96,073 | €93,350 | -€2,724 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €96,073 | €93,350 | -€2,724 | -2.8% |
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 13 October 2026 via checked.be.