HoPo: 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
HoPo
NACE 77.399, Renting and leasing of other machinery, equipment and tangible goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,169
2024 · -€23,111+€81,280
Equity
€317,831
2024 · €270,599+€47,231
Cash
€264,408
2024 · €309,466-€45,058
Balance sheet total
€1.2m
2024 · €1.2m-€27,617
Largest movements
Assets
- Receivables within one year +€106,058
up €106,058 (+69.0%), from €153,728 to €259,786
of which Trade receivables: +€82,776
- Tangible fixed assets -€96,495
down €96,495 (-13.1%), from €739,174 to €642,679
of which Leasing and similar rights: -€109,213
- Cash -€45,058
down €45,058 (-14.6%), from €309,466 to €264,408
mainly Debts after one year (-€189,326) and Investment in fixed assets (net) (-€188,616)
Equity and liabilities
- Debts after one year -€189,326
down €189,326 (-39.7%), from €476,376 to €287,050
of which Financial debts: -€125,538
- Trade debts +€130,473
up €130,473 (+559%), from €23,334 to €153,806
- Reserves +€58,169
up €58,169 (+29.5%), from €197,100 to €255,269
of which Distributable reserves: +€58,169
- Current portion of long-term debt -€26,900
down €26,900 (-13.1%), from €204,672 to €177,772
Income statement
- Turnover +€556,757
up €556,757 (+31.5%), from €1.8m to €2.3m
- Services and other goods +€290,094
up €290,094 (+33.9%), from €856,481 to €1.1m
- Staff costs +€173,303
up €173,303 (+25.2%), from €687,007 to €860,309
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
-€23,111
Turnover
+€556,757
Other operating income
+€7,029
Services and other goods
-€290,094
Staff costs
-€173,303
Depreciation
-€7,875
Other operating charges
-€390
Other operating items
-€2,390
Financial income
-€7,202
Financial charges
+€3,864
Taxes
-€5,117
Result 2025
€58,169
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
+€370,721
Investment
-€188,616
Financing
-€227,164
Cash 2024
€309,466
From operations (derived)
+€370,721
Net result for the year
+€58,169
Depreciation
+€285,111
Receivables within one year
-€106,058
Deferred charges and accrued income
-€7,879
Trade debts
+€130,473
Tax, wage and social debts
+€9,548
Accrued charges and deferred income
+€1,357
Investment (derived)
-€188,616
Investment in fixed assets (net)
-€188,616
Financing
-€227,164
Debts after one year
-€189,326
Current portion of long-term debt
-€26,900
Contributions, distributions and other
-€10,938
Cash 2025
€264,408
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,203,965 | €1,176,348 | -€27,617 | -2.3% |
| Fixed assets | 21/28 | €739,174 | €642,679 | -€96,495 | -13.1% |
| Tangible fixed assets | 22/27 | €739,174 | €642,679 | -€96,495 | -13.1% |
| Plant, machinery and equipment | 23 | €298,860 | €289,162 | -€9,698 | -3.2% |
| Furniture and vehicles | 24 | - | €22,416 | +€22,416 | |
| Leasing and similar rights | 25 | €440,314 | €331,101 | -€109,213 | -24.8% |
| Current assets | 29/58 | €464,791 | €533,670 | +€68,879 | +14.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €153,728 | €259,786 | +€106,058 | +69.0% |
| Trade receivables | 40 | €89,092 | €171,868 | +€82,776 | +92.9% |
| Other amounts receivable | 41 | €64,636 | €87,918 | +€23,282 | +36.0% |
| Cash at bank and in hand | 54/58 | €309,466 | €264,408 | -€45,058 | -14.6% |
| Deferred charges and accrued income | 490/1 | €1,597 | €9,475 | +€7,879 | +493% |
| Total equity and liabilities | 10/49 | €1,203,965 | €1,176,348 | -€27,617 | -2.3% |
| Equity | 10/15 | €270,599 | €317,831 | +€47,231 | +17.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €197,100 | €255,269 | +€58,169 | +29.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €190,850 | €249,019 | +€58,169 | +30.5% |
| Investment grants | 15 | €11,000 | €62 | -€10,938 | -99.4% |
| Amounts payable | 17/49 | €933,366 | €858,518 | -€74,848 | -8.0% |
| Amounts payable after more than one year | 17 | €476,376 | €287,050 | -€189,326 | -39.7% |
| Financial debts | 170/4 | €383,136 | €257,598 | -€125,538 | -32.8% |
| Leasing and similar obligations | 172 | €273,144 | €209,667 | -€63,476 | -23.2% |
| Credit institutions | 173 | €109,992 | €47,931 | -€62,061 | -56.4% |
| Other amounts payable | 178/9 | €93,240 | €29,452 | -€63,788 | -68.4% |
| Amounts payable within one year | 42/48 | €455,402 | €568,523 | +€113,120 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €204,672 | €177,772 | -€26,900 | -13.1% |
| Trade debts | 44 | €23,334 | €153,806 | +€130,473 | +559% |
| Suppliers | 440/4 | €23,334 | €153,806 | +€130,473 | +559% |
| Taxes, remuneration and social security | 45 | €161,703 | €171,251 | +€9,548 | +5.9% |
| Taxes | 450/3 | €35,599 | €15,347 | -€20,253 | -56.9% |
| Remuneration and social security | 454/9 | €126,104 | €155,904 | +€29,800 | +23.6% |
| Other amounts payable | 47/48 | €65,694 | €65,694 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,588 | €2,945 | +€1,357 | +85.5% |
| Operating income | 70/76A | €1,803,586 | €2,364,982 | +€561,396 | +31.1% |
| Turnover | 70 | €1,766,617 | €2,323,374 | +€556,757 | +31.5% |
| Other operating income | 74 | €33,479 | €40,508 | +€7,029 | +21.0% |
| Non-recurring operating income | 76A | €3,490 | €1,100 | -€2,390 | -68.5% |
| Operating charges | 60/66A | €1,823,360 | €2,295,021 | +€471,661 | +25.9% |
| Services and other goods | 61 | €856,481 | €1,146,574 | +€290,094 | +33.9% |
| Remuneration, social security and pensions | 62 | €687,007 | €860,309 | +€173,303 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €277,236 | €285,111 | +€7,875 | +2.8% |
| Other operating charges | 640/8 | €2,637 | €3,026 | +€390 | +14.8% |
| Operating profit (loss) | 9901 | -€19,775 | €69,961 | +€89,735 | |
| Financial income | 75/76B | €19,969 | €12,767 | -€7,202 | -36.1% |
| Recurring financial income | 75 | €19,969 | €12,767 | -€7,202 | -36.1% |
| Income from current assets | 751 | - | €12 | +€12 | |
| Other financial income | 752/9 | €19,969 | €12,756 | -€7,214 | -36.1% |
| Financial charges | 65/66B | €22,803 | €18,939 | -€3,864 | -16.9% |
| Recurring financial charges | 65 | €22,803 | €18,939 | -€3,864 | -16.9% |
| Debt charges | 650 | €21,514 | €17,961 | -€3,553 | -16.5% |
| Other financial charges | 652/9 | €1,289 | €978 | -€311 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€22,609 | €63,789 | +€86,398 | |
| Income taxes | 67/77 | €503 | €5,620 | +€5,117 | +1,018% |
| Taxes | 670/3 | €503 | €5,854 | +€5,351 | +1,065% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €234 | +€234 | |
| Profit (loss) for the period | 9904 | -€23,111 | €58,169 | +€81,280 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,111 | €58,169 | +€81,280 |
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 28 October 2026 via checked.be.