HOSHI HOSHI: what changed
Two fiscal 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.
HOSHI HOSHI
Largest movements
- Tangible fixed assets -€46,101
down €46,101 (-13.7%), from €335,375 to €289,274
of which Furniture and vehicles: -€23,711
- Receivables within one year -€20,017
down €20,017 (-92.3%), from €21,693 to €1,676
of which Other amounts receivable: -€17,867
- Cash +€19,304
up €19,304 (+44.4%), from €43,495 to €62,799
mainly Depreciation (+€48,501) and Receivables within one year (+€20,017)
- Stocks and contracts +€6,400
up €6,400 (+76.2%), from €8,400 to €14,800
- Trade debts -€20,783
down €20,783 (-47.6%), from €43,696 to €22,914
- Debts after one year -€17,383
down €17,383 (-7.6%), from €228,869 to €211,486
- Staff costs -€11,721
down €11,721 (-8.1%), from €144,742 to €133,021
- Taxes -€6,049
no longer reported in 2025 (was €6,049)
- Depreciation -€5,766
down €5,766 (-10.6%), from €54,267 to €48,501
- Gross operating margin -€4,462
down €4,462 (-2.3%), from €195,366 to €190,904
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.
Cash bridge derived
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 | €416,330 | €375,915 | -€40,414 | -9.7% |
| Fixed assets | 21/28 | €342,742 | €296,641 | -€46,101 | -13.5% |
| Tangible fixed assets | 22/27 | €335,375 | €289,274 | -€46,101 | -13.7% |
| Land and buildings | 22 | €266,621 | €250,102 | -€16,518 | -6.2% |
| Plant, machinery and equipment | 23 | €6,410 | €5,650 | -€760 | -11.9% |
| Furniture and vehicles | 24 | €28,298 | €4,588 | -€23,711 | -83.8% |
| Other tangible fixed assets | 26 | €34,046 | €28,934 | -€5,112 | -15.0% |
| Financial fixed assets | 28 | €7,367 | €7,367 | = | 0.0% |
| Current assets | 29/58 | €73,588 | €79,274 | +€5,686 | +7.7% |
| Stocks and contracts in progress | 3 | €8,400 | €14,800 | +€6,400 | +76.2% |
| Stocks | 30/36 | €8,400 | €14,800 | +€6,400 | +76.2% |
| Amounts receivable within one year | 40/41 | €21,693 | €1,676 | -€20,017 | -92.3% |
| Trade receivables | 40 | €2,150 | - | -€2,150 | |
| Other amounts receivable | 41 | €19,543 | €1,676 | -€17,867 | -91.4% |
| Cash at bank and in hand | 54/58 | €43,495 | €62,799 | +€19,304 | +44.4% |
| Total equity and liabilities | 10/49 | €416,330 | €375,915 | -€40,414 | -9.7% |
| Equity | 10/15 | €125,548 | €123,937 | -€1,611 | -1.3% |
| Reserves | 13 | €51,218 | €51,218 | = | 0.0% |
| Distributable reserves | 133 | €51,218 | €51,218 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,330 | €72,719 | -€1,611 | -2.2% |
| Amounts payable | 17/49 | €290,782 | €251,979 | -€38,804 | -13.3% |
| Amounts payable after more than one year | 17 | €228,869 | €211,486 | -€17,383 | -7.6% |
| Financial debts | 170/4 | €228,869 | €211,486 | -€17,383 | -7.6% |
| Amounts payable within one year | 42/48 | €61,913 | €40,493 | -€21,421 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | €17,010 | €17,383 | +€373 | +2.2% |
| Trade debts | 44 | €43,696 | €22,914 | -€20,783 | -47.6% |
| Suppliers | 440/4 | €43,696 | €22,914 | -€20,783 | -47.6% |
| Taxes, remuneration and social security | 45 | €1,207 | €196 | -€1,011 | -83.7% |
| Taxes | 450/3 | €1,207 | €196 | -€1,011 | -83.7% |
| Remuneration, social security and pensions | 62 | €144,742 | €133,021 | -€11,721 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,267 | €48,501 | -€5,766 | -10.6% |
| Other operating charges | 640/8 | €5,245 | €4,162 | -€1,083 | -20.7% |
| Gross operating margin | 9900 | €195,366 | €190,904 | -€4,462 | -2.3% |
| Operating profit (loss) | 9901 | -€8,887 | €5,221 | +€14,108 | |
| Financial charges | 65/66B | €7,744 | €6,832 | -€912 | -11.8% |
| Recurring financial charges | 65 | €7,744 | €6,832 | -€912 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,631 | -€1,611 | +€15,020 | +90.3% |
| Income taxes | 67/77 | €6,049 | - | -€6,049 | |
| Profit (loss) for the period | 9904 | -€22,680 | -€1,611 | +€21,069 | +92.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,680 | -€1,611 | +€21,069 | +92.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.