HOVATEC: 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.
HOVATEC
Largest movements
- Cash -€91,763
down €91,763 (-76.2%), from €120,421 to €28,659
mainly Other debts (-€67,367) and Trade debts (-€65,746)
- Receivables within one year -€74,874
down €74,874 (-30.5%), from €245,422 to €170,548
of which Other amounts receivable: -€56,389
- Stocks and contracts +€22,714
up €22,714 (+7.7%), from €294,442 to €317,156
of which Contracts in progress: +€32,506
- Other debts -€67,367
down €67,367 (-13.6%), from €496,174 to €428,807
- Trade debts -€65,746
down €65,746 (-54.8%), from €120,003 to €54,257
- Debts after one year -€15,266
down €15,266 (-8.1%), from €188,114 to €172,848
- Reserves +€10,943
up €10,943 (+5.6%), from €196,118 to €207,061
of which Distributable reserves: +€10,943
- Staff costs -€17,783
no longer reported in 2024 (was €17,783)
- Depreciation +€6,177
up €6,177 (+49.1%), from €12,578 to €18,755
- Taxes +€3,126
up €3,126 (+136.4%), from €2,292 to €5,418
- Financial income -€2,283
down €2,283 (-98.2%), from €2,324 to €41
- Gross operating margin +€2,235
up €2,235 (+5.3%), from €42,115 to €44,350
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,083,401 | €929,539 | -€153,861 | -14.2% |
| Fixed assets | 21/28 | €423,115 | €413,176 | -€9,939 | -2.3% |
| Tangible fixed assets | 22/27 | €423,115 | €413,176 | -€9,939 | -2.3% |
| Land and buildings | 22 | €420,707 | €410,583 | -€10,124 | -2.4% |
| Plant, machinery and equipment | 23 | €101 | €0 | -€101 | -100.0% |
| Furniture and vehicles | 24 | €2,307 | €2,593 | +€286 | +12.4% |
| Current assets | 29/58 | €660,286 | €516,363 | -€143,922 | -21.8% |
| Stocks and contracts in progress | 3 | €294,442 | €317,156 | +€22,714 | +7.7% |
| Stocks | 30/36 | €19,922 | €10,130 | -€9,792 | -49.2% |
| Contracts in progress | 37 | €274,520 | €307,026 | +€32,506 | +11.8% |
| Amounts receivable within one year | 40/41 | €245,422 | €170,548 | -€74,874 | -30.5% |
| Trade receivables | 40 | €189,033 | €170,548 | -€18,485 | -9.8% |
| Other amounts receivable | 41 | €56,389 | - | -€56,389 | |
| Cash at bank and in hand | 54/58 | €120,421 | €28,659 | -€91,763 | -76.2% |
| Total equity and liabilities | 10/49 | €1,083,401 | €929,539 | -€153,861 | -14.2% |
| Equity | 10/15 | €202,318 | €213,261 | +€10,943 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €196,118 | €207,061 | +€10,943 | +5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €194,258 | €205,201 | +€10,943 | +5.6% |
| Amounts payable | 17/49 | €881,083 | €716,278 | -€164,805 | -18.7% |
| Amounts payable after more than one year | 17 | €188,114 | €172,848 | -€15,266 | -8.1% |
| Financial debts | 170/4 | €188,114 | €172,848 | -€15,266 | -8.1% |
| Amounts payable within one year | 42/48 | €684,375 | €541,283 | -€143,092 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €15,062 | €15,266 | +€204 | +1.4% |
| Trade debts | 44 | €120,003 | €54,257 | -€65,746 | -54.8% |
| Suppliers | 440/4 | €120,003 | €54,257 | -€65,746 | -54.8% |
| Taxes, remuneration and social security | 45 | €53,137 | €42,954 | -€10,183 | -19.2% |
| Taxes | 450/3 | €44,980 | €40,698 | -€4,282 | -9.5% |
| Remuneration and social security | 454/9 | €8,157 | €2,256 | -€5,901 | -72.3% |
| Other amounts payable | 47/48 | €496,174 | €428,807 | -€67,367 | -13.6% |
| Accrued charges and deferred income | 492/3 | €8,593 | €2,147 | -€6,446 | -75.0% |
| Non-recurring operating income | 76A | - | €496 | +€496 | |
| Remuneration, social security and pensions | 62 | €17,783 | - | -€17,783 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,578 | €18,755 | +€6,177 | +49.1% |
| Other operating charges | 640/8 | €1,743 | €2,434 | +€691 | +39.6% |
| Gross operating margin | 9900 | €42,115 | €44,350 | +€2,235 | +5.3% |
| Operating profit (loss) | 9901 | €10,011 | €23,161 | +€13,150 | +131.4% |
| Financial income | 75/76B | €2,324 | €41 | -€2,283 | -98.2% |
| Recurring financial income | 75 | €2,324 | €41 | -€2,283 | -98.2% |
| Financial charges | 65/66B | €6,631 | €6,840 | +€209 | +3.2% |
| Recurring financial charges | 65 | €6,631 | €6,210 | -€421 | -6.4% |
| Non-recurring financial charges | 66B | - | €631 | +€631 | |
| Profit (loss) for the period before taxes | 9903 | €5,704 | €16,362 | +€10,658 | +186.9% |
| Income taxes | 67/77 | €2,292 | €5,418 | +€3,126 | +136.4% |
| Profit (loss) for the period | 9904 | €3,411 | €10,943 | +€7,532 | +220.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,411 | €10,943 | +€7,532 | +220.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.