HOFKIP & CO: 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.
What changed
HOFKIP & CO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,353
2024 · €40,340-€22,987
Equity
€398,796
2024 · €381,443+€17,353
Cash
€45,879
2024 · €15,131+€30,748
Balance sheet total
€3.4m
2024 · €3.5m-€73,630
Largest movements
Assets
- Tangible fixed assets -€100,156
down €100,156 (-2.9%), from €3.5m to €3.4m
Equity and liabilities
- Debts after one year -€88,004
down €88,004 (-3.2%), from €2.8m to €2.7m
of which Financial debts: -€88,004
Income statement
- Gross operating margin -€26,150
down €26,150 (-14.1%), from €185,726 to €159,576
- Financial charges -€2,027
down €2,027 (-6.3%), from €32,374 to €30,347
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.
Result 2024
€40,340
Gross operating margin
-€26,150
Other operating charges
+€1,136
Financial income
+€0
Financial charges
+€2,027
Result 2025
€17,353
raises the resultlowers the result
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.
From operations
+€119,087
Investment
-€335
Financing
-€88,004
Cash 2024
€15,131
From operations (derived)
+€119,087
Net result for the year
+€17,353
Depreciation
+€100,491
Receivables within one year
+€4,222
Provisions
-€3,705
Trade debts
+€727
Investment (derived)
-€335
Investment in fixed assets (net)
-€335
Financing
-€88,004
Debts after one year
-€88,004
Cash 2025
€45,879
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,523,169 | €3,449,539 | -€73,630 | -2.1% |
| Fixed assets | 21/28 | €3,476,243 | €3,376,088 | -€100,156 | -2.9% |
| Tangible fixed assets | 22/27 | €3,476,243 | €3,376,088 | -€100,156 | -2.9% |
| Land and buildings | 22 | €3,476,243 | €3,376,088 | -€100,156 | -2.9% |
| Current assets | 29/58 | €46,926 | €73,451 | +€26,526 | +56.5% |
| Amounts receivable within one year | 40/41 | €31,795 | €27,572 | -€4,222 | -13.3% |
| Trade receivables | 40 | €30,991 | €26,000 | -€4,991 | -16.1% |
| Other amounts receivable | 41 | €803 | €1,572 | +€769 | +95.7% |
| Cash at bank and in hand | 54/58 | €15,131 | €45,879 | +€30,748 | +203% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,523,169 | €3,449,539 | -€73,630 | -2.1% |
| Equity | 10/15 | €381,443 | €398,796 | +€17,353 | +4.5% |
| Contributions | 10/11 | €196,190 | €196,190 | = | 0.0% |
| Capital | 10 | €196,190 | €196,190 | = | 0.0% |
| Issued capital | 100 | €196,190 | €196,190 | = | 0.0% |
| Reserves | 13 | €197,612 | €190,739 | -€6,874 | -3.5% |
| Non-distributable reserves | 130/1 | €65 | €689 | +€625 | +966% |
| Legal reserve | 130 | €65 | €689 | +€625 | +966% |
| Tax-exempt reserves | 132 | €196,897 | €189,399 | -€7,498 | -3.8% |
| Distributable reserves | 133 | €650 | €650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,359 | €11,867 | +€24,226 | |
| Provisions and deferred taxes | 16 | €62,016 | €58,311 | -€3,705 | -6.0% |
| Deferred taxes | 168 | €62,016 | €58,311 | -€3,705 | -6.0% |
| Amounts payable | 17/49 | €3,079,710 | €2,992,432 | -€87,277 | -2.8% |
| Amounts payable after more than one year | 17 | €2,760,710 | €2,672,706 | -€88,004 | -3.2% |
| Financial debts | 170/4 | €1,435,638 | €1,347,634 | -€88,004 | -6.1% |
| Other amounts payable | 178/9 | €1,325,072 | €1,325,072 | = | 0.0% |
| Amounts payable within one year | 42/48 | €318,999 | €319,726 | +€727 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €88,004 | €88,004 | = | 0.0% |
| Trade debts | 44 | €995 | €1,722 | +€727 | +73.0% |
| Suppliers | 440/4 | €995 | €1,722 | +€727 | +73.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €230,000 | €230,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,491 | €100,491 | = | 0.0% |
| Other operating charges | 640/8 | €16,227 | €15,091 | -€1,136 | -7.0% |
| Gross operating margin | 9900 | €185,726 | €159,576 | -€26,150 | -14.1% |
| Operating profit (loss) | 9901 | €69,008 | €43,994 | -€25,014 | -36.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €32,374 | €30,347 | -€2,027 | -6.3% |
| Recurring financial charges | 65 | €32,374 | €30,347 | -€2,027 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €36,635 | €13,648 | -€22,987 | -62.7% |
| Transfer from deferred taxes | 780 | €3,705 | €3,705 | = | 0.0% |
| Profit (loss) for the period | 9904 | €40,340 | €17,353 | -€22,987 | -57.0% |
| Transfer from tax-exempt reserves | 789 | €7,498 | €7,498 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,838 | €24,851 | -€22,987 | -48.1% |
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 1 November 2026 via checked.be.