HOVERBEKE: 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.
HOVERBEKE
Largest movements
- Receivables within one year +€104,763
up €104,763 (+283.3%), from €36,976 to €141,739
of which Other amounts receivable: +€104,519
- Tangible fixed assets +€41,462
up €41,462 (+14.5%), from €286,008 to €327,470
of which Furniture and vehicles: +€35,218
- Cash +€30,594
up €30,594 (+32.3%), from €94,647 to €125,241
mainly Net result for the year (+€162,346) and Other debts (+€65,883)
- Receivables after one year -€16,450
down €16,450 (-14.3%), from €115,150 to €98,700
- Other debts +€65,883
up €65,883 (+77.5%), from €85,000 to €150,884
- Debts after one year +€62,769
up €62,769 (+30.1%), from €208,455 to €271,224
- Current portion of long-term debt +€21,982
up €21,982 (+86.9%), from €25,310 to €47,291
- Reserves +€8,345
up €8,345 (+4.2%), from €198,022 to €206,367
of which Distributable reserves: +€8,645
- Gross operating margin +€81,684
up €81,684 (+49.9%), from €163,704 to €245,388
- Staff costs +€16,216
up €16,216 (+43.9%), from €36,973 to €53,189
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 | €539,614 | €699,790 | +€160,177 | +29.7% |
| Fixed assets | 21/28 | €286,008 | €327,470 | +€41,462 | +14.5% |
| Tangible fixed assets | 22/27 | €286,008 | €327,470 | +€41,462 | +14.5% |
| Land and buildings | 22 | €234,489 | €237,287 | +€2,798 | +1.2% |
| Plant, machinery and equipment | 23 | €90 | €3,536 | +€3,446 | +3829.1% |
| Furniture and vehicles | 24 | €51,429 | €86,647 | +€35,218 | +68.5% |
| Current assets | 29/58 | €253,605 | €372,320 | +€118,715 | +46.8% |
| Amounts receivable after more than one year | 29 | €115,150 | €98,700 | -€16,450 | -14.3% |
| Other amounts receivable | 291 | €115,150 | €98,700 | -€16,450 | -14.3% |
| Stocks and contracts in progress | 3 | €1,275 | €1,775 | +€500 | +39.2% |
| Stocks | 30/36 | €1,275 | €1,775 | +€500 | +39.2% |
| Amounts receivable within one year | 40/41 | €36,976 | €141,739 | +€104,763 | +283.3% |
| Trade receivables | 40 | €6,982 | €7,227 | +€244 | +3.5% |
| Other amounts receivable | 41 | €29,993 | €134,512 | +€104,519 | +348.5% |
| Cash at bank and in hand | 54/58 | €94,647 | €125,241 | +€30,594 | +32.3% |
| Deferred charges and accrued income | 490/1 | €5,558 | €4,865 | -€693 | -12.5% |
| Total equity and liabilities | 10/49 | €539,614 | €699,790 | +€160,177 | +29.7% |
| Equity | 10/15 | €205,631 | €213,977 | +€8,346 | +4.1% |
| Contributions | 10/11 | €7,420 | €7,420 | = | 0.0% |
| Reserves | 13 | €198,022 | €206,367 | +€8,345 | +4.2% |
| Tax-exempt reserves | 132 | €5,667 | €5,367 | -€300 | -5.3% |
| Distributable reserves | 133 | €192,355 | €201,000 | +€8,645 | +4.5% |
| Profit (loss) carried forward | 14 | €189 | €190 | +€1 | +0.6% |
| Provisions and deferred taxes | 16 | €1,889 | €1,789 | -€100 | -5.3% |
| Deferred taxes | 168 | €1,889 | €1,789 | -€100 | -5.3% |
| Amounts payable | 17/49 | €332,094 | €484,024 | +€151,931 | +45.7% |
| Amounts payable after more than one year | 17 | €208,455 | €271,224 | +€62,769 | +30.1% |
| Financial debts | 170/4 | €208,455 | €271,224 | +€62,769 | +30.1% |
| Amounts payable within one year | 42/48 | €123,639 | €212,801 | +€89,162 | +72.1% |
| Current portion of amounts payable after more than one year | 42 | €25,310 | €47,291 | +€21,982 | +86.9% |
| Trade debts | 44 | €12,835 | €12,945 | +€111 | +0.9% |
| Suppliers | 440/4 | €12,835 | €12,945 | +€111 | +0.9% |
| Taxes, remuneration and social security | 45 | €494 | €1,680 | +€1,186 | +240.0% |
| Taxes | 450/3 | €58 | €112 | +€54 | +93.9% |
| Remuneration and social security | 454/9 | €436 | €1,568 | +€1,132 | +259.3% |
| Other amounts payable | 47/48 | €85,000 | €150,884 | +€65,883 | +77.5% |
| Non-recurring operating income | 76A | €500 | €21,426 | +€20,926 | +4185.1% |
| Remuneration, social security and pensions | 62 | €36,973 | €53,189 | +€16,216 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,546 | €22,847 | +€1,301 | +6.0% |
| Other operating charges | 640/8 | €681 | €1,845 | +€1,164 | +170.9% |
| Non-recurring operating charges | 66A | €7,650 | - | -€7,650 | |
| Gross operating margin | 9900 | €163,704 | €245,388 | +€81,684 | +49.9% |
| Operating profit (loss) | 9901 | €96,854 | €167,507 | +€70,653 | +72.9% |
| Financial income | 75/76B | €4,434 | €4,583 | +€149 | +3.4% |
| Recurring financial income | 75 | €4,434 | €4,583 | +€149 | +3.4% |
| Financial charges | 65/66B | €9,453 | €9,714 | +€261 | +2.8% |
| Recurring financial charges | 65 | €9,453 | €9,714 | +€261 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €91,834 | €162,376 | +€70,541 | +76.8% |
| Transfer from deferred taxes | 780 | €100 | €100 | = | 0.0% |
| Income taxes | 67/77 | €58 | €129 | +€72 | +123.7% |
| Profit (loss) for the period | 9904 | €91,877 | €162,346 | +€70,470 | +76.7% |
| Transfer from tax-exempt reserves | 789 | €300 | €300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €92,177 | €162,646 | +€70,470 | +76.5% |
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 11 October 2026 via checked.be.