HOTAG MARCO: 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.
HOTAG MARCO
Largest movements
- Current investments -€35,701
down €35,701 (-18.4%), from €194,000 to €158,299
- Tangible fixed assets -€16,158
down €16,158 (-14.8%), from €109,475 to €93,317
of which Land and buildings: -€9,779
- Other debts -€61,111
down €61,111 (-100%), from €61,111 to €0
- Reserves +€47,449
up €47,449 (+17.2%), from €275,525 to €322,974
- Debts after one year -€15,642
down €15,642 (-22.4%), from €69,822 to €54,180
- Tax, wage and social debts -€13,307
down €13,307 (-73.7%), from €18,048 to €4,741
- Gross operating margin -€33,115
down €33,115 (-28.5%), from €116,231 to €83,116
- Financial charges -€13,377
down €13,377 (-80.9%), from €16,527 to €3,151
- Financial income +€4,012
up €4,012 (+137%), from €2,926 to €6,937
- Taxes -€3,413
down €3,413 (-15.2%), from €22,483 to €19,070
- Other operating charges -€2,222
down €2,222 (-45.5%), from €4,878 to €2,656
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 | €584,522 | €538,913 | -€45,609 | -7.8% |
| Fixed assets | 21/28 | €109,475 | €93,317 | -€16,158 | -14.8% |
| Tangible fixed assets | 22/27 | €109,475 | €93,317 | -€16,158 | -14.8% |
| Land and buildings | 22 | €90,584 | €80,805 | -€9,779 | -10.8% |
| Plant, machinery and equipment | 23 | €5,235 | €6,173 | +€938 | +17.9% |
| Furniture and vehicles | 24 | €13,656 | €6,339 | -€7,316 | -53.6% |
| Current assets | 29/58 | €475,047 | €445,596 | -€29,451 | -6.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €6,281 | €9,594 | +€3,313 | +52.7% |
| Stocks | 30/36 | €6,281 | €9,594 | +€3,313 | +52.7% |
| Amounts receivable within one year | 40/41 | €36,415 | €41,417 | +€5,002 | +13.7% |
| Trade receivables | 40 | €26,965 | €9,704 | -€17,261 | -64.0% |
| Other amounts receivable | 41 | €9,449 | €31,713 | +€22,263 | +236% |
| Current investments | 50/53 | €194,000 | €158,299 | -€35,701 | -18.4% |
| Cash at bank and in hand | 54/58 | €235,111 | €231,494 | -€3,617 | -1.5% |
| Deferred charges and accrued income | 490/1 | €3,241 | €4,792 | +€1,552 | +47.9% |
| Total equity and liabilities | 10/49 | €584,522 | €538,913 | -€45,609 | -7.8% |
| Equity | 10/15 | €410,996 | €458,445 | +€47,449 | +11.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €275,525 | €322,974 | +€47,449 | +17.2% |
| Distributable reserves | 133 | €275,525 | €322,974 | +€47,449 | +17.2% |
| Profit (loss) carried forward | 14 | €123,071 | €123,071 | = | 0.0% |
| Amounts payable | 17/49 | €173,526 | €80,468 | -€93,058 | -53.6% |
| Amounts payable after more than one year | 17 | €69,822 | €54,180 | -€15,642 | -22.4% |
| Financial debts | 170/4 | €69,822 | €54,180 | -€15,642 | -22.4% |
| Amounts payable within one year | 42/48 | €103,704 | €26,288 | -€77,415 | -74.7% |
| Current portion of amounts payable after more than one year | 42 | €18,362 | €15,642 | -€2,719 | -14.8% |
| Financial debts | 43 | €1,273 | €0 | -€1,273 | -100% |
| Credit institutions | 430/8 | €1,273 | €0 | -€1,273 | -100% |
| Trade debts | 44 | €4,910 | €5,905 | +€995 | +20.3% |
| Suppliers | 440/4 | €4,910 | €5,905 | +€995 | +20.3% |
| Taxes, remuneration and social security | 45 | €18,048 | €4,741 | -€13,307 | -73.7% |
| Taxes | 450/3 | €18,048 | €4,741 | -€13,307 | -73.7% |
| Other amounts payable | 47/48 | €61,111 | €0 | -€61,111 | -100% |
| Non-recurring operating income | 76A | €23,206 | €0 | -€23,206 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,538 | €17,727 | +€189 | +1.1% |
| Other operating charges | 640/8 | €4,878 | €2,656 | -€2,222 | -45.5% |
| Non-recurring operating charges | 66A | €21 | €0 | -€21 | -100% |
| Gross operating margin | 9900 | €116,231 | €83,116 | -€33,115 | -28.5% |
| Operating profit (loss) | 9901 | €93,795 | €62,733 | -€31,062 | -33.1% |
| Financial income | 75/76B | €2,926 | €6,937 | +€4,012 | +137% |
| Recurring financial income | 75 | €2,926 | €6,937 | +€4,012 | +137% |
| Financial charges | 65/66B | €16,527 | €3,151 | -€13,377 | -80.9% |
| Recurring financial charges | 65 | €16,527 | €3,151 | -€13,377 | -80.9% |
| Profit (loss) for the period before taxes | 9903 | €80,193 | €66,519 | -€13,674 | -17.1% |
| Income taxes | 67/77 | €22,483 | €19,070 | -€3,413 | -15.2% |
| Profit (loss) for the period | 9904 | €57,710 | €47,449 | -€10,261 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,710 | €47,449 | -€10,261 | -17.8% |
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 19 October 2026 via checked.be.