HOSPEX: 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
HOSPEX
NACE 68.204, Real estate activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€46,195
2024 · €209,599-€163,404
Equity
€8.2m
2024 · €8.2m+€46,195
Cash
€182,208
2024 · €798,538-€616,330
Balance sheet total
€76.8m
2024 · €75.2m+€1.6m
Largest movements
Assets
- Financial fixed assets +€1.9m
up €1.9m (+56.9%), from €3.4m to €5.3m
Equity and liabilities
- Advances received +€2.0m
new in 2025: €2.0m
Income statement
- Services and other goods +€161,898
up €161,898 (+24.9%), from €650,768 to €812,666
- Other operating charges +€46,278
up €46,278 (+21.6%), from €214,712 to €260,990
- Turnover +€32,332
up €32,332 (+1.3%), from €2.4m to €2.5m
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
€209,599
Turnover
+€32,332
Other operating income
-€18,866
Services and other goods
-€161,898
Staff costs
-€7,694
Depreciation
+€8,573
Other operating charges
-€46,278
Other operating items
+€24,661
Financial income
-€5,660
Financial charges
+€3,210
Taxes
+€8,218
Result 2025
€46,195
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
+€2.1m
Investment
-€2.5m
Financing
-€159,626
Cash 2024
€798,538
From operations (derived)
+€2.1m
Net result for the year
+€46,195
Depreciation
+€417,589
Receivables within one year
-€142,222
Deferred charges and accrued income
+€744
Trade debts
-€95,358
Tax, wage and social debts
-€7,952
Advances received
+€2.0m
Accrued charges and deferred income
-€143,687
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€2.5m
Current investments
-€78
Financing
-€159,626
Debts after one year
-€160,598
Current portion of long-term debt
+€973
Cash 2025
€182,208
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,194,009 | €76,833,580 | +€1.6m | +2.2% |
| Fixed assets | 21/28 | €73,376,650 | €75,490,995 | +€2.1m | +2.9% |
| Tangible fixed assets | 22/27 | €70,001,259 | €70,194,271 | +€193,012 | +0.3% |
| Land and buildings | 22 | €68,959,550 | €68,140,000 | -€819,549 | -1.2% |
| Plant, machinery and equipment | 23 | €452 | €301 | -€151 | -33.3% |
| Furniture and vehicles | 24 | €3,596 | €3,038 | -€558 | -15.5% |
| Assets under construction and advance payments | 27 | €1,037,662 | €2,050,932 | +€1.0m | +97.6% |
| Financial fixed assets | 28 | €3,375,391 | €5,296,724 | +€1.9m | +56.9% |
| Affiliated companies | 280/1 | €3,375,391 | €5,296,724 | +€1.9m | +56.9% |
| Participating interests | 280 | €3,259,391 | €5,219,391 | +€2.0m | +60.1% |
| Amounts receivable | 281 | €116,000 | €77,333 | -€38,667 | -33.3% |
| Current assets | 29/58 | €1,817,358 | €1,342,585 | -€474,774 | -26.1% |
| Amounts receivable within one year | 40/41 | €1,005,793 | €1,148,015 | +€142,222 | +14.1% |
| Trade receivables | 40 | €1,005,793 | €1,108,015 | +€102,222 | +10.2% |
| Other amounts receivable | 41 | - | €40,000 | +€40,000 | |
| Current investments | 50/53 | €10,607 | €10,686 | +€78 | +0.7% |
| Other investments | 51/53 | €10,607 | €10,686 | +€78 | +0.7% |
| Cash at bank and in hand | 54/58 | €798,538 | €182,208 | -€616,330 | -77.2% |
| Deferred charges and accrued income | 490/1 | €2,421 | €1,677 | -€744 | -30.7% |
| Total equity and liabilities | 10/49 | €75,194,009 | €76,833,580 | +€1.6m | +2.2% |
| Equity | 10/15 | €8,174,601 | €8,220,796 | +€46,195 | +0.6% |
| Contributions | 10/11 | €6,454,634 | €6,454,634 | = | 0.0% |
| Capital | 10 | €6,454,634 | €6,454,634 | = | 0.0% |
| Issued capital | 100 | €7,000,000 | €7,000,000 | = | 0.0% |
| Uncalled capital | 101 | €545,366 | €545,366 | = | 0.0% |
| Reserves | 13 | €130,993 | €133,302 | +€2,310 | +1.8% |
| Non-distributable reserves | 130/1 | €130,993 | €133,302 | +€2,310 | +1.8% |
| Legal reserve | 130 | €130,993 | €133,302 | +€2,310 | +1.8% |
| Profit (loss) carried forward | 14 | €1,588,974 | €1,632,859 | +€43,885 | +2.8% |
| Amounts payable | 17/49 | €67,019,408 | €68,612,784 | +€1.6m | +2.4% |
| Amounts payable after more than one year | 17 | €64,903,625 | €64,743,027 | -€160,598 | -0.2% |
| Financial debts | 170/4 | €64,903,625 | €64,743,027 | -€160,598 | -0.2% |
| Credit institutions | 173 | €64,903,625 | €64,743,027 | -€160,598 | -0.2% |
| Amounts payable within one year | 42/48 | €452,542 | €2,350,204 | +€1.9m | +419% |
| Current portion of amounts payable after more than one year | 42 | €159,619 | €160,592 | +€973 | +0.6% |
| Trade debts | 44 | €213,690 | €118,331 | -€95,358 | -44.6% |
| Suppliers | 440/4 | €213,690 | €118,331 | -€95,358 | -44.6% |
| Advances received on contracts in progress | 46 | - | €2,000,000 | +€2.0m | |
| Taxes, remuneration and social security | 45 | €78,983 | €71,031 | -€7,952 | -10.1% |
| Taxes | 450/3 | €54,782 | €46,336 | -€8,446 | -15.4% |
| Remuneration and social security | 454/9 | €24,202 | €24,696 | +€494 | +2.0% |
| Other amounts payable | 47/48 | €250 | €250 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,663,240 | €1,519,553 | -€143,687 | -8.6% |
| Operating income | 70/76A | €2,562,749 | €2,614,797 | +€52,048 | +2.0% |
| Turnover | 70 | €2,447,020 | €2,479,352 | +€32,332 | +1.3% |
| Other operating income | 74 | €113,299 | €94,432 | -€18,866 | -16.7% |
| Non-recurring operating income | 76A | €2,430 | €41,012 | +€38,582 | +1,588% |
| Operating charges | 60/66A | €1,473,958 | €1,695,177 | +€221,220 | +15.0% |
| Services and other goods | 61 | €650,768 | €812,666 | +€161,898 | +24.9% |
| Remuneration, social security and pensions | 62 | €182,256 | €189,950 | +€7,694 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €426,162 | €417,589 | -€8,573 | -2.0% |
| Other operating charges | 640/8 | €214,712 | €260,990 | +€46,278 | +21.6% |
| Non-recurring operating charges | 66A | €61 | €13,982 | +€13,921 | +22,923% |
| Operating profit (loss) | 9901 | €1,088,791 | €919,620 | -€169,172 | -15.5% |
| Financial income | 75/76B | €5,765 | €105 | -€5,660 | -98.2% |
| Recurring financial income | 75 | €5,765 | €105 | -€5,660 | -98.2% |
| Income from current assets | 751 | €5,765 | €105 | -€5,660 | -98.2% |
| Financial charges | 65/66B | €843,868 | €840,658 | -€3,210 | -0.4% |
| Recurring financial charges | 65 | €843,868 | €840,658 | -€3,210 | -0.4% |
| Debt charges | 650 | €837,097 | €834,805 | -€2,293 | -0.3% |
| Other financial charges | 652/9 | €6,770 | €5,853 | -€917 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €250,689 | €79,067 | -€171,622 | -68.5% |
| Income taxes | 67/77 | €41,089 | €32,872 | -€8,218 | -20.0% |
| Taxes | 670/3 | €67,500 | €32,872 | -€34,628 | -51.3% |
| Tax adjustments and reversals of tax provisions | 77 | €26,411 | - | -€26,411 | |
| Profit (loss) for the period | 9904 | €209,599 | €46,195 | -€163,404 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €209,599 | €46,195 | -€163,404 | -78.0% |
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 20 October 2026 via checked.be.