HOOFDVOGEL: 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.
HOOFDVOGEL
Largest movements
- Receivables within one year -€7,498
down €7,498 (-84.5%), from €8,874 to €1,376
- Cash -€5,099
down €5,099 (-100%), from €5,099 to €0
mainly Net result for the year (-€25,696) and Investment in fixed assets (net) (-€1,610)
- Tangible fixed assets +€848
up €848 (+69.6%), from €1,218 to €2,067
- Deferred charges and accrued income -€760
down €760 (-100%), from €760 to €0
- Profit (loss) carried forward -€25,696
down €25,696, from €5,350 to -€20,346
- Other debts +€10,119
up €10,119 (+547%), from €1,849 to €11,968
- Short-term financial debts +€2,037
new in 2025: €2,037
- Tax, wage and social debts +€980
up €980 (+15.0%), from €6,536 to €7,516
- Gross operating margin -€30,453
down €30,453, from €8,098 to -€22,354
- Taxes -€1,501
down €1,501 (-91.9%), from €1,633 to €132
- Financial charges +€1,159
up €1,159 (+145%), from €801 to €1,959
- Depreciation +€563
up €563 (+284%), from €199 to €762
- Other operating charges +€372
up €372 (+321%), from €116 to €488
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 | €15,951 | €3,442 | -€12,508 | -78.4% |
| Fixed assets | 21/28 | €1,218 | €2,067 | +€848 | +69.6% |
| Tangible fixed assets | 22/27 | €1,218 | €2,067 | +€848 | +69.6% |
| Plant, machinery and equipment | 23 | €1,218 | €2,067 | +€848 | +69.6% |
| Current assets | 29/58 | €14,732 | €1,376 | -€13,357 | -90.7% |
| Amounts receivable within one year | 40/41 | €8,874 | €1,376 | -€7,498 | -84.5% |
| Trade receivables | 40 | €8,874 | €1,376 | -€7,498 | -84.5% |
| Cash at bank and in hand | 54/58 | €5,099 | €0 | -€5,099 | -100% |
| Deferred charges and accrued income | 490/1 | €760 | €0 | -€760 | -100% |
| Total equity and liabilities | 10/49 | €15,951 | €3,442 | -€12,508 | -78.4% |
| Equity | 10/15 | €6,350 | -€19,346 | -€25,696 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,350 | -€20,346 | -€25,696 | |
| Amounts payable | 17/49 | €9,600 | €22,788 | +€13,188 | +137% |
| Amounts payable within one year | 42/48 | €9,600 | €22,788 | +€13,188 | +137% |
| Financial debts | 43 | - | €2,037 | +€2,037 | |
| Credit institutions | 430/8 | - | €2,037 | +€2,037 | |
| Trade debts | 44 | €1,215 | €1,267 | +€52 | +4.3% |
| Suppliers | 440/4 | €1,215 | €1,267 | +€52 | +4.3% |
| Taxes, remuneration and social security | 45 | €6,536 | €7,516 | +€980 | +15.0% |
| Taxes | 450/3 | €6,536 | €7,516 | +€980 | +15.0% |
| Other amounts payable | 47/48 | €1,849 | €11,968 | +€10,119 | +547% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199 | €762 | +€563 | +284% |
| Other operating charges | 640/8 | €116 | €488 | +€372 | +321% |
| Gross operating margin | 9900 | €8,098 | -€22,354 | -€30,453 | |
| Operating profit (loss) | 9901 | €7,784 | -€23,605 | -€31,388 | |
| Financial charges | 65/66B | €801 | €1,959 | +€1,159 | +145% |
| Recurring financial charges | 65 | €801 | €1,959 | +€1,159 | +145% |
| Profit (loss) for the period before taxes | 9903 | €6,983 | -€25,564 | -€32,547 | |
| Income taxes | 67/77 | €1,633 | €132 | -€1,501 | -91.9% |
| Profit (loss) for the period | 9904 | €5,350 | -€25,696 | -€31,046 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,350 | -€25,696 | -€31,046 |
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 15 October 2026 via checked.be.