HOPHEMEL: 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.
HOPHEMEL
Largest movements
- Cash +€15,512
up €15,512 (+157%), from €9,909 to €25,421
mainly Depreciation (+€16,544) and Tax, wage and social debts (+€11,337)
- Tangible fixed assets -€12,941
down €12,941 (-12.9%), from €100,028 to €87,087
of which Plant, machinery and equipment: -€12,422
- Receivables within one year +€5,971
up €5,971 (+318%), from €1,880 to €7,851
of which Trade receivables: +€6,056
- Stocks and contracts -€3,825
down €3,825 (-10.0%), from €38,268 to €34,443
- Debts after one year -€25,249
down €25,249 (-24.4%), from €103,608 to €78,359
- Tax, wage and social debts +€11,337
up €11,337 (+240%), from €4,730 to €16,067
of which Remuneration and social security: +€6,371
- Reserves +€9,802
up €9,802 (+75.7%), from €12,952 to €22,754
- Trade debts +€5,443
up €5,443 (+192%), from €2,842 to €8,285
- Current portion of long-term debt +€2,312
up €2,312 (+10.8%), from €21,415 to €23,727
- Other operating charges +€3,080
up €3,080 (+24.3%), from €12,658 to €15,739
- Taxes +€2,526
up €2,526 (+231%), from €1,095 to €3,621
- Gross operating margin +€2,299
up €2,299 (+4.7%), from €48,796 to €51,095
- Write-downs -€1,255
down €1,255 (-45.3%), from €2,770 to €1,515
- Financial charges -€699
down €699 (-15.0%), from €4,666 to €3,967
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 | €169,391 | €175,538 | +€6,147 | +3.6% |
| Fixed assets | 21/28 | €118,328 | €105,387 | -€12,941 | -10.9% |
| Tangible fixed assets | 22/27 | €100,028 | €87,087 | -€12,941 | -12.9% |
| Plant, machinery and equipment | 23 | €98,492 | €86,070 | -€12,422 | -12.6% |
| Furniture and vehicles | 24 | €1,536 | €1,017 | -€519 | -33.8% |
| Financial fixed assets | 28 | €18,300 | €18,300 | = | 0.0% |
| Current assets | 29/58 | €51,063 | €70,151 | +€19,088 | +37.4% |
| Stocks and contracts in progress | 3 | €38,268 | €34,443 | -€3,825 | -10.0% |
| Stocks | 30/36 | €38,268 | €34,443 | -€3,825 | -10.0% |
| Amounts receivable within one year | 40/41 | €1,880 | €7,851 | +€5,971 | +318% |
| Trade receivables | 40 | €1,795 | €7,851 | +€6,056 | +337% |
| Other amounts receivable | 41 | €85 | €0 | -€85 | -100% |
| Cash at bank and in hand | 54/58 | €9,909 | €25,421 | +€15,512 | +157% |
| Deferred charges and accrued income | 490/1 | €1,006 | €2,436 | +€1,430 | +142% |
| Total equity and liabilities | 10/49 | €169,391 | €175,538 | +€6,147 | +3.6% |
| Equity | 10/15 | €22,952 | €32,754 | +€9,802 | +42.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €12,952 | €22,754 | +€9,802 | +75.7% |
| Distributable reserves | 133 | €12,952 | €22,754 | +€9,802 | +75.7% |
| Amounts payable | 17/49 | €146,438 | €142,784 | -€3,655 | -2.5% |
| Amounts payable after more than one year | 17 | €103,608 | €78,359 | -€25,249 | -24.4% |
| Financial debts | 170/4 | €103,608 | €78,359 | -€25,249 | -24.4% |
| Amounts payable within one year | 42/48 | €42,831 | €64,425 | +€21,594 | +50.4% |
| Current portion of amounts payable after more than one year | 42 | €21,415 | €23,727 | +€2,312 | +10.8% |
| Trade debts | 44 | €2,842 | €8,285 | +€5,443 | +192% |
| Suppliers | 440/4 | €2,842 | €8,285 | +€5,443 | +192% |
| Advances received on contracts in progress | 46 | €1,607 | €2,496 | +€889 | +55.3% |
| Taxes, remuneration and social security | 45 | €4,730 | €16,067 | +€11,337 | +240% |
| Taxes | 450/3 | €4,730 | €9,696 | +€4,966 | +105% |
| Remuneration and social security | 454/9 | - | €6,371 | +€6,371 | |
| Other amounts payable | 47/48 | €12,237 | €13,849 | +€1,612 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,922 | €16,544 | +€623 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,770 | €1,515 | -€1,255 | -45.3% |
| Other operating charges | 640/8 | €12,658 | €15,739 | +€3,080 | +24.3% |
| Gross operating margin | 9900 | €48,796 | €51,095 | +€2,299 | +4.7% |
| Operating profit (loss) | 9901 | €17,446 | €17,297 | -€149 | -0.9% |
| Financial income | 75/76B | €165 | €92 | -€73 | -44.3% |
| Recurring financial income | 75 | €165 | €92 | -€73 | -44.3% |
| Financial charges | 65/66B | €4,666 | €3,967 | -€699 | -15.0% |
| Recurring financial charges | 65 | €4,666 | €3,967 | -€699 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €12,946 | €13,422 | +€477 | +3.7% |
| Income taxes | 67/77 | €1,095 | €3,621 | +€2,526 | +231% |
| Profit (loss) for the period | 9904 | €11,851 | €9,802 | -€2,049 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,851 | €9,802 | -€2,049 | -17.3% |
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.