HOFMAKER: what changed
HOFMAKER
Largest movements
- Cash +€66,628
up €66,628 (+185%), from €36,003 to €102,630
mainly Net result for the year (+€45,803) and Depreciation (+€22,870)
- Receivables within one year -€9,351
down €9,351 (-44.2%), from €21,159 to €11,808
of which Trade receivables: -€7,040
- Tangible fixed assets +€2,939
up €2,939 (+4.7%), from €63,150 to €66,089
of which Furniture and vehicles: +€4,432
- Stocks and contracts +€2,550
up €2,550 (+305%), from €836 to €3,385
- Profit (loss) carried forward +€45,803
up €45,803 (+117%), from €39,287 to €85,091
- Tax, wage and social debts +€16,343
up €16,343 (+371%), from €4,400 to €20,744
- Debts after one year -€5,715
down €5,715 (-16.4%), from €34,777 to €29,062
- Trade debts +€4,373
up €4,373 (+79.8%), from €5,482 to €9,855
- Gross operating margin +€35,369
up €35,369 (+71.3%), from €49,624 to €84,993
- Depreciation +€5,002
up €5,002 (+28.0%), from €17,868 to €22,870
- Taxes +€4,782
up €4,782 (+70.3%), from €6,805 to €11,587
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,299 | €183,912 | +€62,613 | +51.6% |
| Fixed assets | 21/28 | €63,150 | €66,089 | +€2,939 | +4.7% |
| Tangible fixed assets | 22/27 | €63,150 | €66,089 | +€2,939 | +4.7% |
| Plant, machinery and equipment | 23 | €41,153 | €40,261 | -€893 | -2.2% |
| Furniture and vehicles | 24 | €19,947 | €24,379 | +€4,432 | +22.2% |
| Other tangible fixed assets | 26 | €2,050 | €1,450 | -€600 | -29.3% |
| Current assets | 29/58 | €58,149 | €117,823 | +€59,674 | +103% |
| Stocks and contracts in progress | 3 | €836 | €3,385 | +€2,550 | +305% |
| Stocks | 30/36 | €836 | €3,385 | +€2,550 | +305% |
| Amounts receivable within one year | 40/41 | €21,159 | €11,808 | -€9,351 | -44.2% |
| Trade receivables | 40 | €18,848 | €11,808 | -€7,040 | -37.4% |
| Other amounts receivable | 41 | €2,311 | €0 | -€2,311 | -100% |
| Cash at bank and in hand | 54/58 | €36,003 | €102,630 | +€66,628 | +185% |
| Deferred charges and accrued income | 490/1 | €152 | €0 | -€152 | -100% |
| Total equity and liabilities | 10/49 | €121,299 | €183,912 | +€62,613 | +51.6% |
| Equity | 10/15 | €43,920 | €89,724 | +€45,803 | +104% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €2,133 | €2,133 | = | 0.0% |
| Distributable reserves | 133 | €2,133 | €2,133 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,287 | €85,091 | +€45,803 | +117% |
| Amounts payable | 17/49 | €77,379 | €94,188 | +€16,809 | +21.7% |
| Amounts payable after more than one year | 17 | €34,777 | €29,062 | -€5,715 | -16.4% |
| Financial debts | 170/4 | €34,777 | €29,062 | -€5,715 | -16.4% |
| Amounts payable within one year | 42/48 | €42,602 | €65,126 | +€22,524 | +52.9% |
| Current portion of amounts payable after more than one year | 42 | €5,466 | €5,715 | +€248 | +4.5% |
| Trade debts | 44 | €5,482 | €9,855 | +€4,373 | +79.8% |
| Suppliers | 440/4 | €5,482 | €9,855 | +€4,373 | +79.8% |
| Taxes, remuneration and social security | 45 | €4,400 | €20,744 | +€16,343 | +371% |
| Taxes | 450/3 | €4,400 | €20,744 | +€16,343 | +371% |
| Other amounts payable | 47/48 | €27,254 | €28,813 | +€1,559 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,868 | €22,870 | +€5,002 | +28.0% |
| Other operating charges | 640/8 | €988 | €1,272 | +€284 | +28.7% |
| Gross operating margin | 9900 | €49,624 | €84,993 | +€35,369 | +71.3% |
| Operating profit (loss) | 9901 | €30,768 | €60,850 | +€30,082 | +97.8% |
| Financial income | 75/76B | €189 | €228 | +€38 | +20.2% |
| Recurring financial income | 75 | €189 | €228 | +€38 | +20.2% |
| Financial charges | 65/66B | €3,312 | €3,687 | +€375 | +11.3% |
| Recurring financial charges | 65 | €3,312 | €3,687 | +€375 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €27,645 | €57,391 | +€29,746 | +108% |
| Income taxes | 67/77 | €6,805 | €11,587 | +€4,782 | +70.3% |
| Profit (loss) for the period | 9904 | €20,840 | €45,803 | +€24,964 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €20,840 | €45,803 | +€24,964 | +120% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.