HOO-RAY: 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.
HOO-RAY
Largest movements
- Stocks and contracts +€18,122
up €18,122 (+18.2%), from €99,482 to €117,604
- Receivables within one year +€4,348
up €4,348 (+2,758%), from €158 to €4,506
of which Trade receivables: +€3,497
- Cash -€2,868
down €2,868 (-15.5%), from €18,472 to €15,604
mainly Stocks and contracts (-€18,122) and Debts after one year (-€17,616)
- Intangible fixed assets +€2,532
up €2,532 (+40.0%), from €6,334 to €8,866
- Tangible fixed assets -€2,260
down €2,260 (-13.1%), from €17,307 to €15,047
of which Other tangible fixed assets: -€1,617
- Debts after one year -€17,616
down €17,616 (-33.1%), from €53,235 to €35,619
of which Financial debts: -€14,116
- Tax, wage and social debts +€15,890
up €15,890 (+130%), from €12,260 to €28,150
of which Taxes: +€13,990
- Profit (loss) carried forward +€15,504
up €15,504 (+88.9%), from -€17,444 to -€1,939
- Trade debts +€1,690
up €1,690 (+2.5%), from €68,086 to €69,776
- Gross operating margin +€44,325
up €44,325, from -€10,498 to €33,827
- Depreciation +€5,681
new in 2025: €5,681
- Other operating charges +€2,176
up €2,176 (+126%), from €1,727 to €3,902
- Taxes +€2,036
up €2,036 (+537%), from €379 to €2,415
- Financial charges +€1,031
up €1,031 (+19.2%), from €5,369 to €6,400
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 | €151,314 | €168,268 | +€16,954 | +11.2% |
| Formation expenses | 20 | €2,044 | €0 | -€2,044 | -100% |
| Fixed assets | 21/28 | €23,641 | €23,914 | +€272 | +1.2% |
| Intangible fixed assets | 21 | €6,334 | €8,866 | +€2,532 | +40.0% |
| Tangible fixed assets | 22/27 | €17,307 | €15,047 | -€2,260 | -13.1% |
| Plant, machinery and equipment | 23 | €2,369 | €1,895 | -€474 | -20.0% |
| Furniture and vehicles | 24 | €4,551 | €4,382 | -€169 | -3.7% |
| Other tangible fixed assets | 26 | €10,387 | €8,770 | -€1,617 | -15.6% |
| Current assets | 29/58 | €125,629 | €144,354 | +€18,725 | +14.9% |
| Stocks and contracts in progress | 3 | €99,482 | €117,604 | +€18,122 | +18.2% |
| Stocks | 30/36 | €99,482 | €117,604 | +€18,122 | +18.2% |
| Amounts receivable within one year | 40/41 | €158 | €4,506 | +€4,348 | +2,758% |
| Trade receivables | 40 | €158 | €3,654 | +€3,497 | +2,218% |
| Other amounts receivable | 41 | - | €852 | +€852 | |
| Cash at bank and in hand | 54/58 | €18,472 | €15,604 | -€2,868 | -15.5% |
| Deferred charges and accrued income | 490/1 | €7,517 | €6,639 | -€877 | -11.7% |
| Total equity and liabilities | 10/49 | €151,314 | €168,268 | +€16,954 | +11.2% |
| Equity | 10/15 | €2,556 | €18,061 | +€15,504 | +607% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,444 | -€1,939 | +€15,504 | +88.9% |
| Amounts payable | 17/49 | €148,758 | €150,207 | +€1,449 | +1.0% |
| Amounts payable after more than one year | 17 | €53,235 | €35,619 | -€17,616 | -33.1% |
| Financial debts | 170/4 | €45,735 | €31,619 | -€14,116 | -30.9% |
| Other amounts payable | 178/9 | €7,500 | €4,000 | -€3,500 | -46.7% |
| Amounts payable within one year | 42/48 | €94,691 | €113,549 | +€18,858 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €13,471 | €14,116 | +€646 | +4.8% |
| Trade debts | 44 | €68,086 | €69,776 | +€1,690 | +2.5% |
| Suppliers | 440/4 | €68,086 | €69,776 | +€1,690 | +2.5% |
| Taxes, remuneration and social security | 45 | €12,260 | €28,150 | +€15,890 | +130% |
| Taxes | 450/3 | €12,260 | €26,250 | +€13,990 | +114% |
| Remuneration and social security | 454/9 | - | €1,900 | +€1,900 | |
| Other amounts payable | 47/48 | €874 | €1,506 | +€632 | +72.3% |
| Accrued charges and deferred income | 492/3 | €832 | €1,040 | +€208 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,681 | +€5,681 | |
| Other operating charges | 640/8 | €1,727 | €3,902 | +€2,176 | +126% |
| Gross operating margin | 9900 | -€10,498 | €33,827 | +€44,325 | |
| Operating profit (loss) | 9901 | -€12,224 | €24,244 | +€36,468 | |
| Financial income | 75/76B | €529 | €76 | -€453 | -85.6% |
| Recurring financial income | 75 | €529 | €76 | -€453 | -85.6% |
| Financial charges | 65/66B | €5,369 | €6,400 | +€1,031 | +19.2% |
| Recurring financial charges | 65 | €5,369 | €6,400 | +€1,031 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | -€17,065 | €17,920 | +€34,984 | |
| Income taxes | 67/77 | €379 | €2,415 | +€2,036 | +537% |
| Profit (loss) for the period | 9904 | -€17,444 | €15,504 | +€32,948 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,444 | €15,504 | +€32,948 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.