HOVEST: what changed
Two fiscal 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.
HOVEST
Largest movements
- Receivables within one year +€31,770
up €31,770 (+33.1%), from €96,118 to €127,888
of which Other amounts receivable: +€31,770
- Other debts +€80,000
new in 2025: €80,000
- Reserves -€44,221
down €44,221 (-44.9%), from €98,574 to €54,353
- Tax, wage and social debts -€5,003
down €5,003 (-18.7%), from €26,805 to €21,802
- Gross operating margin -€6,069
down €6,069 (-11.2%), from €54,039 to €47,969
- Taxes -€2,207
down €2,207 (-16.7%), from €13,207 to €11,000
- Other operating charges +€738
up €738 (+50.7%), from €1,456 to €2,194
- Financial income -€551
down €551 (-16.7%), from €3,292 to €2,741
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 | €131,313 | €161,828 | +€30,515 | +23.2% |
| Fixed assets | 21/28 | €1,950 | €867 | -€1,084 | -55.6% |
| Tangible fixed assets | 22/27 | €1,950 | €867 | -€1,084 | -55.6% |
| Furniture and vehicles | 24 | €1,950 | €867 | -€1,084 | -55.6% |
| Current assets | 29/58 | €129,363 | €160,961 | +€31,598 | +24.4% |
| Amounts receivable within one year | 40/41 | €96,118 | €127,888 | +€31,770 | +33.1% |
| Trade receivables | 40 | €63,383 | €63,383 | = | 0.0% |
| Other amounts receivable | 41 | €32,735 | €64,505 | +€31,770 | +97.1% |
| Cash at bank and in hand | 54/58 | €32,494 | €32,714 | +€220 | +0.7% |
| Deferred charges and accrued income | 490/1 | €751 | €359 | -€392 | -52.2% |
| Total equity and liabilities | 10/49 | €131,313 | €161,828 | +€30,515 | +23.2% |
| Equity | 10/15 | €101,074 | €56,853 | -€44,221 | -43.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €98,574 | €54,353 | -€44,221 | -44.9% |
| Distributable reserves | 133 | €98,574 | €54,353 | -€44,221 | -44.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,239 | €104,975 | +€74,736 | +247.1% |
| Amounts payable within one year | 42/48 | €30,239 | €104,975 | +€74,736 | +247.1% |
| Trade debts | 44 | €3,434 | €3,172 | -€262 | -7.6% |
| Suppliers | 440/4 | €3,434 | €3,172 | -€262 | -7.6% |
| Taxes, remuneration and social security | 45 | €26,805 | €21,802 | -€5,003 | -18.7% |
| Taxes | 450/3 | €26,805 | €21,802 | -€5,003 | -18.7% |
| Other amounts payable | 47/48 | - | €80,000 | +€80,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,084 | €1,084 | = | 0.0% |
| Other operating charges | 640/8 | €1,456 | €2,194 | +€738 | +50.7% |
| Gross operating margin | 9900 | €54,039 | €47,969 | -€6,069 | -11.2% |
| Operating profit (loss) | 9901 | €51,499 | €44,692 | -€6,807 | -13.2% |
| Financial income | 75/76B | €3,292 | €2,741 | -€551 | -16.7% |
| Recurring financial income | 75 | €3,292 | €2,741 | -€551 | -16.7% |
| Financial charges | 65/66B | €249 | €654 | +€405 | +162.5% |
| Recurring financial charges | 65 | €249 | €654 | +€405 | +162.5% |
| Profit (loss) for the period before taxes | 9903 | €54,542 | €46,779 | -€7,763 | -14.2% |
| Income taxes | 67/77 | €13,207 | €11,000 | -€2,207 | -16.7% |
| Profit (loss) for the period | 9904 | €41,335 | €35,779 | -€5,556 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,335 | €35,779 | -€5,556 | -13.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.