HOTO: 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.
HOTO
Largest movements
- Receivables within one year -€13,391
down €13,391 (-10.5%), from €127,404 to €114,014
of which Trade receivables: -€13,391
- Tangible fixed assets -€9,281
down €9,281 (-6.9%), from €135,305 to €126,024
of which Land and buildings: -€10,654
- Cash +€5,974
up €5,974 (+50.7%), from €11,781 to €17,754
mainly Net result for the year (+€16,233) and Receivables within one year (+€13,391)
- Other debts -€18,255
down €18,255 (-13.9%), from €131,077 to €112,823
- Profit (loss) carried forward +€16,233
up €16,233 (+15.3%), from -€106,286 to -€90,053
- Trade debts -€8,378
down €8,378 (-60.7%), from €13,795 to €5,417
- Tax, wage and social debts -€5,769
down €5,769 (-17.8%), from €32,406 to €26,637
- Gross operating margin -€85,392
down €85,392 (-61.1%), from €139,851 to €54,459
- Taxes +€6,369
up €6,369 (+59.8%), from €10,645 to €17,015
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 | €280,112 | €263,944 | -€16,168 | -5.8% |
| Fixed assets | 21/28 | €135,305 | €126,024 | -€9,281 | -6.9% |
| Tangible fixed assets | 22/27 | €135,305 | €126,024 | -€9,281 | -6.9% |
| Land and buildings | 22 | €132,709 | €122,056 | -€10,654 | -8.0% |
| Plant, machinery and equipment | 23 | €0 | €3,529 | +€3,529 | |
| Furniture and vehicles | 24 | €2,596 | €439 | -€2,157 | -83.1% |
| Current assets | 29/58 | €144,807 | €137,920 | -€6,887 | -4.8% |
| Amounts receivable within one year | 40/41 | €127,404 | €114,014 | -€13,391 | -10.5% |
| Trade receivables | 40 | €127,404 | €114,014 | -€13,391 | -10.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €11,781 | €17,754 | +€5,974 | +50.7% |
| Deferred charges and accrued income | 490/1 | €5,623 | €6,153 | +€530 | +9.4% |
| Total equity and liabilities | 10/49 | €280,112 | €263,944 | -€16,168 | -5.8% |
| Equity | 10/15 | €102,834 | €119,066 | +€16,233 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €190,519 | €190,519 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €105,000 | €105,000 | = | 0.0% |
| Distributable reserves | 133 | €85,519 | €85,519 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,286 | -€90,053 | +€16,233 | +15.3% |
| Amounts payable | 17/49 | €177,279 | €144,878 | -€32,401 | -18.3% |
| Amounts payable within one year | 42/48 | €177,279 | €144,878 | -€32,401 | -18.3% |
| Trade debts | 44 | €13,795 | €5,417 | -€8,378 | -60.7% |
| Suppliers | 440/4 | €13,795 | €5,417 | -€8,378 | -60.7% |
| Taxes, remuneration and social security | 45 | €32,406 | €26,637 | -€5,769 | -17.8% |
| Taxes | 450/3 | €32,406 | €26,637 | -€5,769 | -17.8% |
| Other amounts payable | 47/48 | €131,077 | €112,823 | -€18,255 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,848 | €12,882 | -€966 | -7.0% |
| Other operating charges | 640/8 | €4,507 | €4,189 | -€318 | -7.1% |
| Gross operating margin | 9900 | €139,851 | €54,459 | -€85,392 | -61.1% |
| Operating profit (loss) | 9901 | €121,496 | €37,388 | -€84,108 | -69.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €2,946 | €4,141 | +€1,195 | +40.6% |
| Recurring financial charges | 65 | €2,946 | €4,141 | +€1,195 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | €118,551 | €33,247 | -€85,303 | -72.0% |
| Income taxes | 67/77 | €10,645 | €17,015 | +€6,369 | +59.8% |
| Profit (loss) for the period | 9904 | €107,905 | €16,233 | -€91,673 | -85.0% |
| Transfer to tax-exempt reserves | 689 | €105,000 | €0 | -€105,000 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,905 | €16,233 | +€13,327 | +458.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.