HOVATHERM: 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.
HOVATHERM
Largest movements
- Cash +€59,086
up €59,086 (+195%), from €30,256 to €89,342
mainly Net result for the year (+€76,537) and Other debts (+€41,865)
- Stocks and contracts -€27,000
down €27,000 (-84.4%), from €32,000 to €5,000
of which Contracts in progress: -€22,000
- Receivables within one year -€1,027
down €1,027 (-15.8%), from €6,514 to €5,486
of which Other amounts receivable: -€772
- Other debts +€41,865
up €41,865 (+123%), from €34,135 to €76,000
- Trade debts -€11,771
down €11,771 (-85.0%), from €13,849 to €2,077
- Gross operating margin +€31,086
up €31,086 (+65.5%), from €47,433 to €78,519
- Financial income +€856
up €856 (+3,067%), from €28 to €884
- Depreciation -€825
down €825 (-88.4%), from €933 to €108
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 | €70,366 | €101,316 | +€30,950 | +44.0% |
| Fixed assets | 21/28 | €123 | €15 | -€108 | -87.7% |
| Tangible fixed assets | 22/27 | €123 | €15 | -€108 | -87.7% |
| Plant, machinery and equipment | 23 | €123 | €15 | -€108 | -87.7% |
| Current assets | 29/58 | €70,243 | €101,301 | +€31,058 | +44.2% |
| Stocks and contracts in progress | 3 | €32,000 | €5,000 | -€27,000 | -84.4% |
| Stocks | 30/36 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Contracts in progress | 37 | €22,000 | - | -€22,000 | |
| Amounts receivable within one year | 40/41 | €6,514 | €5,486 | -€1,027 | -15.8% |
| Trade receivables | 40 | €256 | - | -€256 | |
| Other amounts receivable | 41 | €6,258 | €5,486 | -€772 | -12.3% |
| Cash at bank and in hand | 54/58 | €30,256 | €89,342 | +€59,086 | +195% |
| Deferred charges and accrued income | 490/1 | €1,473 | €1,473 | = | 0.0% |
| Total equity and liabilities | 10/49 | €70,366 | €101,316 | +€30,950 | +44.0% |
| Equity | 10/15 | €22,382 | €22,919 | +€537 | +2.4% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €15,982 | €16,519 | +€537 | +3.4% |
| Distributable reserves | 133 | €15,982 | €16,519 | +€537 | +3.4% |
| Amounts payable | 17/49 | €47,984 | €78,397 | +€30,413 | +63.4% |
| Amounts payable within one year | 42/48 | €47,984 | €78,397 | +€30,413 | +63.4% |
| Trade debts | 44 | €13,849 | €2,077 | -€11,771 | -85.0% |
| Suppliers | 440/4 | €13,849 | €2,077 | -€11,771 | -85.0% |
| Taxes, remuneration and social security | 45 | - | €319 | +€319 | |
| Taxes | 450/3 | - | €319 | +€319 | |
| Other amounts payable | 47/48 | €34,135 | €76,000 | +€41,865 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933 | €108 | -€825 | -88.4% |
| Other operating charges | 640/8 | €285 | €297 | +€12 | +4.2% |
| Gross operating margin | 9900 | €47,433 | €78,519 | +€31,086 | +65.5% |
| Operating profit (loss) | 9901 | €46,215 | €78,114 | +€31,899 | +69.0% |
| Financial income | 75/76B | €28 | €884 | +€856 | +3,067% |
| Recurring financial income | 75 | €28 | €884 | +€856 | +3,067% |
| Financial charges | 65/66B | €1,230 | €1,879 | +€650 | +52.8% |
| Recurring financial charges | 65 | €1,230 | €1,879 | +€650 | +52.8% |
| Profit (loss) for the period before taxes | 9903 | €45,013 | €77,118 | +€32,105 | +71.3% |
| Income taxes | 67/77 | - | €581 | +€581 | |
| Profit (loss) for the period | 9904 | €45,013 | €76,537 | +€31,524 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,013 | €76,537 | +€31,524 | +70.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.