HOSEWOL: 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.
HOSEWOL
Largest movements
- Cash -€27,915
down €27,915 (-35.5%), from €78,529 to €50,614
mainly Other debts (-€24,235) and Stocks and contracts (-€10,850)
- Stocks and contracts +€10,850
up €10,850 (+160%), from €6,798 to €17,648
of which Contracts in progress: +€10,850
- Receivables within one year -€7,939
down €7,939 (-13.1%), from €60,449 to €52,509
of which Trade receivables: -€7,604
- Other debts -€24,235
down €24,235 (-53.2%), from €45,582 to €21,348
- Reserves +€13,962
up €13,962 (+16.5%), from €84,807 to €98,770
of which Distributable reserves: +€15,821
- Trade debts -€6,647
down €6,647 (-13.3%), from €50,063 to €43,416
- Debts after one year -€6,376
down €6,376 (-53.5%), from €11,907 to €5,531
- Tax, wage and social debts -€3,317
down €3,317 (-10.8%), from €30,815 to €27,497
of which Taxes: -€7,575
- Gross operating margin +€19,564
up €19,564 (+11.7%), from €167,845 to €187,409
- Staff costs +€7,232
up €7,232 (+4.8%), from €149,461 to €156,694
- Taxes +€3,767
up €3,767 (+96.4%), from €3,906 to €7,672
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 | €291,133 | €264,701 | -€26,432 | -9.1% |
| Fixed assets | 21/28 | €19,738 | €18,930 | -€808 | -4.1% |
| Tangible fixed assets | 22/27 | €19,738 | €18,930 | -€808 | -4.1% |
| Plant, machinery and equipment | 23 | €13,562 | €14,378 | +€817 | +6.0% |
| Furniture and vehicles | 24 | €6,176 | €4,551 | -€1,625 | -26.3% |
| Current assets | 29/58 | €271,395 | €245,771 | -€25,624 | -9.4% |
| Amounts receivable after more than one year | 29 | €125,000 | €125,000 | = | 0.0% |
| Other amounts receivable | 291 | €125,000 | €125,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,798 | €17,648 | +€10,850 | +160% |
| Stocks | 30/36 | €6,798 | €6,798 | = | 0.0% |
| Contracts in progress | 37 | - | €10,850 | +€10,850 | |
| Amounts receivable within one year | 40/41 | €60,449 | €52,509 | -€7,939 | -13.1% |
| Trade receivables | 40 | €59,672 | €52,067 | -€7,604 | -12.7% |
| Other amounts receivable | 41 | €777 | €442 | -€335 | -43.1% |
| Cash at bank and in hand | 54/58 | €78,529 | €50,614 | -€27,915 | -35.5% |
| Deferred charges and accrued income | 490/1 | €619 | €0 | -€619 | -100% |
| Total equity and liabilities | 10/49 | €291,133 | €264,701 | -€26,432 | -9.1% |
| Equity | 10/15 | €122,844 | €136,806 | +€13,962 | +11.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €84,807 | €98,770 | +€13,962 | +16.5% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Tax-exempt reserves | 132 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €74,448 | €90,270 | +€15,821 | +21.3% |
| Profit (loss) carried forward | 14 | €19,445 | €19,445 | = | 0.0% |
| Amounts payable | 17/49 | €168,289 | €127,894 | -€40,394 | -24.0% |
| Amounts payable after more than one year | 17 | €11,907 | €5,531 | -€6,376 | -53.5% |
| Financial debts | 170/4 | €11,907 | €5,531 | -€6,376 | -53.5% |
| Amounts payable within one year | 42/48 | €155,372 | €122,363 | -€33,009 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €6,102 | €6,376 | +€274 | +4.5% |
| Financial debts | 43 | €22,810 | €23,726 | +€916 | +4.0% |
| Credit institutions | 430/8 | €22,810 | €23,726 | +€916 | +4.0% |
| Trade debts | 44 | €50,063 | €43,416 | -€6,647 | -13.3% |
| Suppliers | 440/4 | €50,063 | €43,416 | -€6,647 | -13.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €30,815 | €27,497 | -€3,317 | -10.8% |
| Taxes | 450/3 | €17,872 | €10,298 | -€7,575 | -42.4% |
| Remuneration and social security | 454/9 | €12,942 | €17,200 | +€4,258 | +32.9% |
| Other amounts payable | 47/48 | €45,582 | €21,348 | -€24,235 | -53.2% |
| Accrued charges and deferred income | 492/3 | €1,010 | €0 | -€1,010 | -100% |
| Remuneration, social security and pensions | 62 | €149,461 | €156,694 | +€7,232 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,563 | €3,373 | +€1,810 | +116% |
| Other operating charges | 640/8 | €2,644 | €1,874 | -€769 | -29.1% |
| Gross operating margin | 9900 | €167,845 | €187,409 | +€19,564 | +11.7% |
| Operating profit (loss) | 9901 | €14,177 | €25,468 | +€11,291 | +79.6% |
| Financial income | 75/76B | €441 | €385 | -€57 | -12.8% |
| Recurring financial income | 75 | €441 | €385 | -€57 | -12.8% |
| Financial charges | 65/66B | €4,534 | €4,218 | -€316 | -7.0% |
| Recurring financial charges | 65 | €4,534 | €4,218 | -€316 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €10,084 | €21,634 | +€11,550 | +115% |
| Income taxes | 67/77 | €3,906 | €7,672 | +€3,767 | +96.4% |
| Profit (loss) for the period | 9904 | €6,178 | €13,962 | +€7,784 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €6,178 | €13,962 | +€7,784 | +126% |
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.