HOPJO: 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.
What changed
HOPJO
NACE 50.400, Inland freight water transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€189,470
2024 · €39,356-€228,825
Equity
€1.3m
2024 · €1.5m-€189,470
Cash
€200,188
2024 · €150,092+€50,097
Balance sheet total
€6.5m
2024 · €6.8m-€331,771
Largest movements
Assets
- Tangible fixed assets -€441,129
down €441,129 (-10.4%), from €4.2m to €3.8m
of which Leasing and similar rights: -€363,235
Equity and liabilities
- Debts after one year -€150,000
down €150,000 (-3.3%), from €4.6m to €4.4m
- Reserves -€134,812
down €134,812 (-8.9%), from €1.5m to €1.4m
of which Distributable reserves: -€134,812
Income statement
- Gross operating margin -€222,111
down €222,111 (-49.5%), from €448,870 to €226,759
- Financial income -€33,620
no longer reported in 2025 (was €33,620)
- Financial charges -€12,339
down €12,339 (-97.5%), from €12,660 to €321
- Depreciation -€8,082
down €8,082 (-1.9%), from €422,765 to €414,682
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.
Result 2024
€39,356
Gross operating margin
-€222,111
Depreciation
+€8,082
Other operating charges
+€233
Other operating items
+€6,284
Financial income
-€33,620
Financial charges
+€12,339
Taxes
-€33
Result 2025
-€189,470
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€173,651
Investment
+€26,446
Financing
-€150,000
Cash 2024
€150,092
From operations (derived)
+€173,651
Net result for the year
-€189,470
Depreciation
+€414,682
Receivables within one year
-€59,261
Trade debts
+€7,621
Tax, wage and social debts
+€78
Investment (derived)
+€26,446
Investment in fixed assets (net)
+€26,446
Financing
-€150,000
Debts after one year
-€150,000
Cash 2025
€200,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,816,090 | €6,484,319 | -€331,771 | -4.9% |
| Fixed assets | 21/28 | €4,230,271 | €3,789,143 | -€441,129 | -10.4% |
| Tangible fixed assets | 22/27 | €4,226,284 | €3,785,156 | -€441,129 | -10.4% |
| Land and buildings | 22 | €14,913 | €14,139 | -€773 | -5.2% |
| Plant, machinery and equipment | 23 | €2,293 | €1,808 | -€485 | -21.1% |
| Furniture and vehicles | 24 | €213,491 | €136,855 | -€76,635 | -35.9% |
| Leasing and similar rights | 25 | €3,995,588 | €3,632,353 | -€363,235 | -9.1% |
| Financial fixed assets | 28 | €3,987 | €3,987 | = | 0.0% |
| Current assets | 29/58 | €2,585,818 | €2,695,176 | +€109,358 | +4.2% |
| Amounts receivable after more than one year | 29 | €1,714,623 | €1,714,623 | = | 0.0% |
| Trade receivables | 290 | €1,714,623 | €1,714,623 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €721,104 | €780,365 | +€59,261 | +8.2% |
| Trade receivables | 40 | €279,718 | €159,042 | -€120,675 | -43.1% |
| Other amounts receivable | 41 | €441,386 | €621,322 | +€179,936 | +40.8% |
| Cash at bank and in hand | 54/58 | €150,092 | €200,188 | +€50,097 | +33.4% |
| Total equity and liabilities | 10/49 | €6,816,090 | €6,484,319 | -€331,771 | -4.9% |
| Equity | 10/15 | €1,528,014 | €1,338,544 | -€189,470 | -12.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,509,422 | €1,374,609 | -€134,812 | -8.9% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,490,672 | €1,355,859 | -€134,812 | -9.0% |
| Profit (loss) carried forward | 14 | - | -€54,658 | -€54,658 | |
| Amounts payable | 17/49 | €5,288,076 | €5,145,775 | -€142,301 | -2.7% |
| Amounts payable after more than one year | 17 | €4,567,000 | €4,417,000 | -€150,000 | -3.3% |
| Financial debts | 170/4 | €4,567,000 | €4,417,000 | -€150,000 | -3.3% |
| Amounts payable within one year | 42/48 | €721,076 | €728,775 | +€7,699 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €96,000 | €96,000 | = | 0.0% |
| Trade debts | 44 | €542,893 | €550,513 | +€7,621 | +1.4% |
| Suppliers | 440/4 | €542,893 | €550,513 | +€7,621 | +1.4% |
| Taxes, remuneration and social security | 45 | €489 | €568 | +€78 | +16.0% |
| Taxes | 450/3 | €489 | €568 | +€78 | +16.0% |
| Other amounts payable | 47/48 | €81,694 | €81,694 | = | 0.0% |
| Non-recurring operating income | 76A | - | €39,554 | +€39,554 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €422,765 | €414,682 | -€8,082 | -1.9% |
| Other operating charges | 640/8 | €891 | €658 | -€233 | -26.2% |
| Non-recurring operating charges | 66A | €6,284 | - | -€6,284 | |
| Gross operating margin | 9900 | €448,870 | €226,759 | -€222,111 | -49.5% |
| Operating profit (loss) | 9901 | €18,930 | -€188,581 | -€207,511 | |
| Financial income | 75/76B | €33,620 | - | -€33,620 | |
| Recurring financial income | 75 | €33,620 | - | -€33,620 | |
| Financial charges | 65/66B | €12,660 | €321 | -€12,339 | -97.5% |
| Recurring financial charges | 65 | €12,660 | €321 | -€12,339 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | €39,890 | -€188,902 | -€228,792 | |
| Income taxes | 67/77 | €534 | €568 | +€33 | +6.2% |
| Profit (loss) for the period | 9904 | €39,356 | -€189,470 | -€228,825 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,356 | -€189,470 | -€228,825 |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.