HOKANU: 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.
HOKANU
Largest movements
- Cash -€100,989
down €100,989 (-38.1%), from €265,248 to €164,259
mainly Contributions, distributions and other (-€97,000) and Trade debts (-€36,185)
- Current investments -€17,674
down €17,674 (-9.6%), from €184,800 to €167,126
- Reserves -€54,097
down €54,097 (-12.8%), from €422,233 to €368,136
of which Distributable reserves: -€52,237
- Trade debts -€36,185
down €36,185 (-95.8%), from €37,776 to €1,591
- Tax, wage and social debts -€28,381
down €28,381 (-81.6%), from €34,785 to €6,404
- Other debts -€6,078
down €6,078 (-72.8%), from €8,346 to €2,269
- Financial income -€136,153
down €136,153 (-90.5%), from €150,436 to €14,284
- Taxes -€50,950
down €50,950 (-85.5%), from €59,608 to €8,658
- Gross operating margin -€9,036
down €9,036 (-17.5%), from €51,761 to €42,725
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.
Cash bridge derived
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 | €509,675 | €384,832 | -€124,843 | -24.5% |
| Fixed assets | 21/28 | €20,451 | €15,907 | -€4,544 | -22.2% |
| Tangible fixed assets | 22/27 | €17,146 | €12,602 | -€4,544 | -26.5% |
| Plant, machinery and equipment | 23 | €2,750 | €1,834 | -€916 | -33.3% |
| Furniture and vehicles | 24 | €7,649 | €5,020 | -€2,629 | -34.4% |
| Other tangible fixed assets | 26 | €6,748 | €5,748 | -€1,000 | -14.8% |
| Financial fixed assets | 28 | €3,305 | €3,305 | = | 0.0% |
| Current assets | 29/58 | €489,224 | €368,925 | -€120,298 | -24.6% |
| Amounts receivable within one year | 40/41 | €39,176 | €36,817 | -€2,359 | -6.0% |
| Trade receivables | 40 | €39,176 | €14,878 | -€24,298 | -62.0% |
| Other amounts receivable | 41 | €0 | €21,939 | +€21,939 | |
| Current investments | 50/53 | €184,800 | €167,126 | -€17,674 | -9.6% |
| Cash at bank and in hand | 54/58 | €265,248 | €164,259 | -€100,989 | -38.1% |
| Deferred charges and accrued income | 490/1 | - | €723 | +€723 | |
| Total equity and liabilities | 10/49 | €509,675 | €384,832 | -€124,843 | -24.5% |
| Equity | 10/15 | €428,433 | €374,336 | -€54,097 | -12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €422,233 | €368,136 | -€54,097 | -12.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €420,373 | €368,136 | -€52,237 | -12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €81,242 | €10,497 | -€70,746 | -87.1% |
| Amounts payable within one year | 42/48 | €81,242 | €10,497 | -€70,746 | -87.1% |
| Financial debts | 43 | €335 | €233 | -€102 | -30.5% |
| Credit institutions | 430/8 | €335 | €233 | -€102 | -30.5% |
| Trade debts | 44 | €37,776 | €1,591 | -€36,185 | -95.8% |
| Suppliers | 440/4 | €37,776 | €1,591 | -€36,185 | -95.8% |
| Taxes, remuneration and social security | 45 | €34,785 | €6,404 | -€28,381 | -81.6% |
| Taxes | 450/3 | €34,785 | €6,404 | -€28,381 | -81.6% |
| Other amounts payable | 47/48 | €8,346 | €2,269 | -€6,078 | -72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,172 | €4,544 | +€372 | +8.9% |
| Other operating charges | 640/8 | €342 | €653 | +€312 | +91.3% |
| Gross operating margin | 9900 | €51,761 | €42,725 | -€9,036 | -17.5% |
| Operating profit (loss) | 9901 | €47,246 | €37,527 | -€9,720 | -20.6% |
| Financial income | 75/76B | €150,436 | €14,284 | -€136,153 | -90.5% |
| Recurring financial income | 75 | €150,436 | €14,284 | -€136,153 | -90.5% |
| Financial charges | 65/66B | €446 | €250 | -€196 | -44.0% |
| Recurring financial charges | 65 | €446 | €250 | -€196 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €197,237 | €51,561 | -€145,676 | -73.9% |
| Income taxes | 67/77 | €59,608 | €8,658 | -€50,950 | -85.5% |
| Profit (loss) for the period | 9904 | €137,629 | €42,903 | -€94,726 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €137,629 | €42,903 | -€94,726 | -68.8% |
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 9 October 2026 via checked.be.