HOKAN: 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.
HOKAN
Largest movements
- Financial fixed assets +€3.7m
up €3.7m (+84.9%), from €4.3m to €8.0m
- Cash +€183,105
up €183,105 (+712%), from €25,730 to €208,835
mainly Debts after one year (+€3.9m) and Smaller working-capital items (+€476)
- Debts after one year +€3.9m
up €3.9m (+89.5%), from €4.3m to €8.2m
- Gross operating margin -€3,458
down €3,458 (-27.9%), from -€12,382 to -€15,840
- Other operating charges +€616
up €616 (+104%), from €590 to €1,206
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 | €4,325,880 | €8,158,835 | +€3.8m | +88.6% |
| Fixed assets | 21/28 | €4,300,000 | €7,950,000 | +€3.7m | +84.9% |
| Financial fixed assets | 28 | €4,300,000 | €7,950,000 | +€3.7m | +84.9% |
| Current assets | 29/58 | €25,880 | €208,835 | +€182,955 | +707% |
| Amounts receivable within one year | 40/41 | €150 | €0 | -€150 | -100% |
| Trade receivables | 40 | €150 | €0 | -€150 | -100% |
| Cash at bank and in hand | 54/58 | €25,730 | €208,835 | +€183,105 | +712% |
| Total equity and liabilities | 10/49 | €4,325,880 | €8,158,835 | +€3.8m | +88.6% |
| Equity | 10/15 | €25,880 | €8,508 | -€17,371 | -67.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,120 | -€41,492 | -€17,371 | -72.0% |
| Amounts payable | 17/49 | €4,300,000 | €8,150,326 | +€3.9m | +89.5% |
| Amounts payable after more than one year | 17 | €4,300,000 | €8,150,000 | +€3.9m | +89.5% |
| Financial debts | 170/4 | €4,300,000 | €8,150,000 | +€3.9m | +89.5% |
| Amounts payable within one year | 42/48 | - | €326 | +€326 | |
| Trade debts | 44 | - | €326 | +€326 | |
| Suppliers | 440/4 | - | €326 | +€326 | |
| Other operating charges | 640/8 | €590 | €1,206 | +€616 | +104% |
| Gross operating margin | 9900 | -€12,382 | -€15,840 | -€3,458 | -27.9% |
| Operating profit (loss) | 9901 | -€12,973 | -€17,046 | -€4,073 | -31.4% |
| Financial charges | 65/66B | €281 | €325 | +€45 | +15.9% |
| Recurring financial charges | 65 | €281 | €325 | +€45 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,254 | -€17,371 | -€4,118 | -31.1% |
| Profit (loss) for the period | 9904 | -€13,254 | -€17,371 | -€4,118 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,254 | -€17,371 | -€4,118 | -31.1% |
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 19 October 2026 via checked.be.