HOVAERE NICO: what changed
HOVAERE NICO
Largest movements
- Cash -€64,544
down €64,544 (-31.9%), from €202,637 to €138,093
mainly Investment in fixed assets (net) (-€79,140) and Net result for the year (-€3,141)
- Tangible fixed assets +€63,228
up €63,228 (+286%), from €22,077 to €85,305
of which Furniture and vehicles: +€51,517
- Receivables within one year -€4,002
down €4,002 (-28.2%), from €14,177 to €10,175
of which Trade receivables: -€3,838
- Reserves -€3,141
down €3,141 (-1.7%), from €189,669 to €186,528
of which Distributable reserves: -€3,141
- Trade debts -€2,581
down €2,581 (-52.5%), from €4,921 to €2,340
- Gross operating margin +€11,723
up €11,723 (+385%), from €3,046 to €14,769
- Depreciation +€10,253
up €10,253 (+181%), from €5,660 to €15,912
- Other operating charges -€7,825
down €7,825 (-89.5%), from €8,739 to €914
- Financial income -€3,858
down €3,858 (-79.9%), from €4,829 to €971
- Write-downs +€1,665
new in 2025: €1,665
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,755 | €234,648 | -€7,106 | -2.9% |
| Fixed assets | 21/28 | €22,077 | €85,305 | +€63,228 | +286% |
| Tangible fixed assets | 22/27 | €22,077 | €85,305 | +€63,228 | +286% |
| Plant, machinery and equipment | 23 | - | €1,365 | +€1,365 | |
| Furniture and vehicles | 24 | €10,184 | €61,701 | +€51,517 | +506% |
| Other tangible fixed assets | 26 | €11,892 | €22,239 | +€10,346 | +87.0% |
| Current assets | 29/58 | €219,678 | €149,344 | -€70,334 | -32.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €14,177 | €10,175 | -€4,002 | -28.2% |
| Trade receivables | 40 | €5,917 | €2,079 | -€3,838 | -64.9% |
| Other amounts receivable | 41 | €8,260 | €8,096 | -€164 | -2.0% |
| Cash at bank and in hand | 54/58 | €202,637 | €138,093 | -€64,544 | -31.9% |
| Deferred charges and accrued income | 490/1 | €2,864 | €1,075 | -€1,789 | -62.5% |
| Total equity and liabilities | 10/49 | €241,755 | €234,648 | -€7,106 | -2.9% |
| Equity | 10/15 | €208,269 | €205,128 | -€3,141 | -1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,669 | €186,528 | -€3,141 | -1.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €189,669 | €186,528 | -€3,141 | -1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,485 | €29,520 | -€3,965 | -11.8% |
| Amounts payable within one year | 42/48 | €33,485 | €29,520 | -€3,965 | -11.8% |
| Trade debts | 44 | €4,921 | €2,340 | -€2,581 | -52.5% |
| Suppliers | 440/4 | €4,921 | €2,340 | -€2,581 | -52.5% |
| Taxes, remuneration and social security | 45 | €6,524 | €6,350 | -€174 | -2.7% |
| Taxes | 450/3 | €4,524 | €4,350 | -€174 | -3.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €22,041 | €20,830 | -€1,210 | -5.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,660 | €15,912 | +€10,253 | +181% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,665 | +€1,665 | |
| Other operating charges | 640/8 | €8,739 | €914 | -€7,825 | -89.5% |
| Gross operating margin | 9900 | €3,046 | €14,769 | +€11,723 | +385% |
| Operating profit (loss) | 9901 | -€11,353 | -€3,723 | +€7,630 | +67.2% |
| Financial income | 75/76B | €4,829 | €971 | -€3,858 | -79.9% |
| Recurring financial income | 75 | €4,829 | €971 | -€3,858 | -79.9% |
| Financial charges | 65/66B | €511 | €150 | -€360 | -70.5% |
| Recurring financial charges | 65 | €511 | €150 | -€360 | -70.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,034 | -€2,902 | +€4,132 | +58.7% |
| Income taxes | 67/77 | €282 | €239 | -€43 | -15.2% |
| Profit (loss) for the period | 9904 | -€7,316 | -€3,141 | +€4,175 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,316 | -€3,141 | +€4,175 | +57.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.