HOGHESCOTE: 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.
HOGHESCOTE
Largest movements
- Tangible fixed assets -€259,316
down €259,316 (-42.6%), from €608,725 to €349,409
of which Land and buildings: -€256,872
- Debts after one year -€173,000
down €173,000 (-33.1%), from €523,050 to €350,050
- Profit (loss) carried forward -€65,568
down €65,568, from €28,927 to -€36,641
- Other debts -€47,918
no longer reported in 2025 (was €47,918)
- Current portion of long-term debt +€37,750
up €37,750 (+1,448%), from €2,607 to €40,357
- Investment grants -€8,650
down €8,650 (-54.9%), from €15,769 to €7,119
- Gross operating margin -€54,345
down €54,345, from €6,978 to -€47,367
- Depreciation -€35,515
down €35,515 (-85.5%), from €41,539 to €6,024
- Financial income -€30,557
down €30,557 (-90.2%), from €33,885 to €3,328
of which Non-recurring financial income: -€30,548
- Financial charges -€5,027
down €5,027 (-25.4%), from €19,797 to €14,770
- Taxes -€1,445
new in 2025: -€1,445
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 | €651,485 | €387,874 | -€263,611 | -40.5% |
| Fixed assets | 21/28 | €635,867 | €372,770 | -€263,097 | -41.4% |
| Intangible fixed assets | 21 | €26,736 | €23,356 | -€3,380 | -12.6% |
| Tangible fixed assets | 22/27 | €608,725 | €349,409 | -€259,316 | -42.6% |
| Land and buildings | 22 | €257,259 | €386 | -€256,872 | -99.8% |
| Plant, machinery and equipment | 23 | €5,504 | €3,925 | -€1,579 | -28.7% |
| Furniture and vehicles | 24 | €1,669 | €805 | -€865 | -51.8% |
| Other tangible fixed assets | 26 | €344,293 | €344,293 | = | 0.0% |
| Financial fixed assets | 28 | €405 | €5 | -€400 | -98.8% |
| Current assets | 29/58 | €15,618 | €15,103 | -€515 | -3.3% |
| Amounts receivable within one year | 40/41 | €2,076 | €52 | -€2,024 | -97.5% |
| Other amounts receivable | 41 | €2,076 | €52 | -€2,024 | -97.5% |
| Cash at bank and in hand | 54/58 | €8,450 | €14,626 | +€6,176 | +73.1% |
| Deferred charges and accrued income | 490/1 | €5,092 | €426 | -€4,666 | -91.6% |
| Total equity and liabilities | 10/49 | €651,485 | €387,874 | -€263,611 | -40.5% |
| Equity | 10/15 | €65,156 | -€9,061 | -€74,218 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,927 | -€36,641 | -€65,568 | |
| Investment grants | 15 | €15,769 | €7,119 | -€8,650 | -54.9% |
| Amounts payable | 17/49 | €586,328 | €396,935 | -€189,393 | -32.3% |
| Amounts payable after more than one year | 17 | €523,050 | €350,050 | -€173,000 | -33.1% |
| Financial debts | 170/4 | €523,050 | €350,050 | -€173,000 | -33.1% |
| Amounts payable within one year | 42/48 | €62,929 | €46,885 | -€16,043 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €2,607 | €40,357 | +€37,750 | +1,448% |
| Financial debts | 43 | €3,174 | €50 | -€3,124 | -98.4% |
| Credit institutions | 430/8 | €3,174 | €50 | -€3,124 | -98.4% |
| Trade debts | 44 | €9,080 | €1,478 | -€7,602 | -83.7% |
| Suppliers | 440/4 | €9,080 | €1,478 | -€7,602 | -83.7% |
| Taxes, remuneration and social security | 45 | €150 | €5,000 | +€4,850 | +3,233% |
| Taxes | 450/3 | €150 | €150 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €4,850 | +€4,850 | |
| Other amounts payable | 47/48 | €47,918 | - | -€47,918 | |
| Accrued charges and deferred income | 492/3 | €350 | - | -€350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,539 | €6,024 | -€35,515 | -85.5% |
| Other operating charges | 640/8 | €1,878 | €2,179 | +€301 | +16.0% |
| Gross operating margin | 9900 | €6,978 | -€47,367 | -€54,345 | |
| Operating profit (loss) | 9901 | -€36,439 | -€55,570 | -€19,131 | -52.5% |
| Financial income | 75/76B | €33,885 | €3,328 | -€30,557 | -90.2% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -96.7% |
| Non-recurring financial income | 76B | €33,876 | €3,328 | -€30,548 | -90.2% |
| Financial charges | 65/66B | €19,797 | €14,770 | -€5,027 | -25.4% |
| Recurring financial charges | 65 | €19,797 | €14,770 | -€5,027 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,351 | -€67,013 | -€44,662 | -200% |
| Income taxes | 67/77 | - | -€1,445 | -€1,445 | |
| Profit (loss) for the period | 9904 | -€22,351 | -€65,568 | -€43,217 | -193% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,351 | -€65,568 | -€43,217 | -193% |
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 20 October 2026 via checked.be.