HOVE: 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.
HOVE
Largest movements
- Cash +€77,920
up €77,920 (+4,686%), from €1,663 to €79,582
mainly Net result for the year (+€81,801) and Trade debts (+€32,991)
- Reserves +€81,801
up €81,801 (+5.4%), from €1.5m to €1.6m
of which Distributable reserves: +€81,801
- Current portion of long-term debt -€37,466
down €37,466 (-66.2%), from €56,588 to €19,121
- Trade debts +€32,991
up €32,991 (+2,164%), from €1,525 to €34,516
- Gross operating margin +€99,308
up €99,308 (+166%), from €59,728 to €159,036
- Taxes +€17,519
new in 2025: €17,519
- Depreciation +€2,069
up €2,069 (+7.8%), from €26,538 to €28,606
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 | €2,528,114 | €2,606,340 | +€78,226 | +3.1% |
| Fixed assets | 21/28 | €2,512,008 | €2,522,778 | +€10,770 | +0.4% |
| Tangible fixed assets | 22/27 | €1,495,787 | €1,506,557 | +€10,770 | +0.7% |
| Land and buildings | 22 | €1,495,787 | €1,506,557 | +€10,770 | +0.7% |
| Financial fixed assets | 28 | €1,016,220 | €1,016,220 | = | 0.0% |
| Current assets | 29/58 | €16,106 | €83,562 | +€67,456 | +419% |
| Amounts receivable within one year | 40/41 | €12,000 | €1,331 | -€10,669 | -88.9% |
| Trade receivables | 40 | €12,000 | €1,331 | -€10,669 | -88.9% |
| Cash at bank and in hand | 54/58 | €1,663 | €79,582 | +€77,920 | +4,686% |
| Deferred charges and accrued income | 490/1 | €2,443 | €2,649 | +€206 | +8.4% |
| Total equity and liabilities | 10/49 | €2,528,114 | €2,606,340 | +€78,226 | +3.1% |
| Equity | 10/15 | €1,594,564 | €1,676,365 | +€81,801 | +5.1% |
| Contributions | 10/11 | €89,813 | €89,813 | = | 0.0% |
| Reserves | 13 | €1,504,751 | €1,586,553 | +€81,801 | +5.4% |
| Non-distributable reserves | 130/1 | €8,981 | €8,981 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,981 | €8,981 | = | 0.0% |
| Distributable reserves | 133 | €1,495,770 | €1,577,571 | +€81,801 | +5.5% |
| Amounts payable | 17/49 | €933,550 | €929,974 | -€3,575 | -0.4% |
| Amounts payable after more than one year | 17 | €19,121 | €0 | -€19,121 | -100% |
| Financial debts | 170/4 | €19,121 | €0 | -€19,121 | -100% |
| Amounts payable within one year | 42/48 | €914,388 | €929,974 | +€15,586 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €56,588 | €19,121 | -€37,466 | -66.2% |
| Trade debts | 44 | €1,525 | €34,516 | +€32,991 | +2,164% |
| Suppliers | 440/4 | €1,525 | €34,516 | +€32,991 | +2,164% |
| Taxes, remuneration and social security | 45 | €693 | €18,212 | +€17,519 | +2,528% |
| Taxes | 450/3 | €693 | €18,212 | +€17,519 | +2,528% |
| Other amounts payable | 47/48 | €855,583 | €858,125 | +€2,542 | +0.3% |
| Accrued charges and deferred income | 492/3 | €40 | €0 | -€40 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,538 | €28,606 | +€2,069 | +7.8% |
| Other operating charges | 640/8 | €28,626 | €29,507 | +€882 | +3.1% |
| Gross operating margin | 9900 | €59,728 | €159,036 | +€99,308 | +166% |
| Operating profit (loss) | 9901 | €4,565 | €100,922 | +€96,357 | +2,111% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,031 | €1,602 | +€571 | +55.4% |
| Recurring financial charges | 65 | €1,031 | €1,602 | +€571 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €3,534 | €99,320 | +€95,786 | +2,710% |
| Income taxes | 67/77 | - | €17,519 | +€17,519 | |
| Profit (loss) for the period | 9904 | €3,534 | €81,801 | +€78,267 | +2,215% |
| Profit (loss) for the period to be appropriated | 9905 | €3,534 | €81,801 | +€78,267 | +2,215% |
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 27 October 2026 via checked.be.