HOORNAERT: 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.
HOORNAERT
Largest movements
- Tangible fixed assets -€14,070
down €14,070 (-2.8%), from €503,487 to €489,418
of which Land and buildings: -€18,712
- Other debts -€13,837
down €13,837 (-7.6%), from €181,792 to €167,955
- Gross operating margin -€7,103
down €7,103 (-20.6%), from €34,484 to €27,381
- Depreciation -€3,330
down €3,330 (-12.8%), from €25,999 to €22,670
- Other operating charges +€771
up €771 (+34.9%), from €2,212 to €2,983
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 | €518,607 | €504,778 | -€13,829 | -2.7% |
| Fixed assets | 21/28 | €503,487 | €489,418 | -€14,070 | -2.8% |
| Tangible fixed assets | 22/27 | €503,487 | €489,418 | -€14,070 | -2.8% |
| Land and buildings | 22 | €484,037 | €465,324 | -€18,712 | -3.9% |
| Plant, machinery and equipment | 23 | €5,671 | €3,486 | -€2,185 | -38.5% |
| Furniture and vehicles | 24 | €2,255 | €9,082 | +€6,827 | +303% |
| Other tangible fixed assets | 26 | €11,525 | €11,525 | = | 0.0% |
| Current assets | 29/58 | €15,120 | €15,361 | +€241 | +1.6% |
| Amounts receivable within one year | 40/41 | €6 | €100 | +€93 | +1,486% |
| Other amounts receivable | 41 | €6 | €100 | +€93 | +1,486% |
| Cash at bank and in hand | 54/58 | €15,114 | €15,261 | +€147 | +1.0% |
| Total equity and liabilities | 10/49 | €518,607 | €504,778 | -€13,829 | -2.7% |
| Equity | 10/15 | €326,029 | €327,703 | +€1,675 | +0.5% |
| Contributions | 10/11 | €506,000 | €506,000 | = | 0.0% |
| Contributions outside capital | 11 | €506,000 | €506,000 | = | 0.0% |
| Other | 1109/19 | €506,000 | €506,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€179,971 | -€178,297 | +€1,675 | +0.9% |
| Amounts payable | 17/49 | €192,578 | €177,075 | -€15,504 | -8.1% |
| Amounts payable within one year | 42/48 | €192,578 | €177,075 | -€15,504 | -8.1% |
| Trade debts | 44 | €25 | - | -€25 | |
| Suppliers | 440/4 | €25 | - | -€25 | |
| Advances received on contracts in progress | 46 | €10,615 | €8,971 | -€1,644 | -15.5% |
| Taxes, remuneration and social security | 45 | €146 | €149 | +€3 | +2.1% |
| Taxes | 450/3 | €146 | €149 | +€3 | +2.1% |
| Other amounts payable | 47/48 | €181,792 | €167,955 | -€13,837 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,999 | €22,670 | -€3,330 | -12.8% |
| Other operating charges | 640/8 | €2,212 | €2,983 | +€771 | +34.9% |
| Gross operating margin | 9900 | €34,484 | €27,381 | -€7,103 | -20.6% |
| Operating profit (loss) | 9901 | €6,272 | €1,728 | -€4,544 | -72.5% |
| Financial income | 75/76B | €9 | €1 | -€8 | -89.7% |
| Recurring financial income | 75 | €9 | €1 | -€8 | -89.7% |
| Financial charges | 65/66B | €62 | €54 | -€8 | -12.2% |
| Recurring financial charges | 65 | €62 | €54 | -€8 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €6,220 | €1,675 | -€4,545 | -73.1% |
| Profit (loss) for the period | 9904 | €6,220 | €1,675 | -€4,545 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,220 | €1,675 | -€4,545 | -73.1% |
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 16 October 2026 via checked.be.