HOVETA: 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.
HOVETA
Largest movements
- Current investments -€410,000
down €410,000 (-73.2%), from €560,000 to €150,000
- Cash -€16,954
down €16,954 (-60.6%), from €27,998 to €11,044
mainly Other debts (-€400,000) and Net result for the year (-€28,533)
- Other debts -€400,000
no longer reported in 2025 (was €400,000)
- Profit (loss) carried forward -€28,533
down €28,533 (-94.4%), from €30,240 to €1,707
- Financial income -€11,656
down €11,656 (-58.7%), from €19,842 to €8,187
- Gross operating margin -€7,261
down €7,261 (-29.8%), from -€24,344 to -€31,605
- Other operating charges -€522
down €522 (-9.9%), from €5,267 to €4,745
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 | €639,192 | €209,672 | -€429,520 | -67.2% |
| Fixed assets | 21/28 | €20,000 | €20,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €20,000 | €20,000 | = | 0.0% |
| Land and buildings | 22 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €619,192 | €189,672 | -€429,520 | -69.4% |
| Stocks and contracts in progress | 3 | €10,236 | €10,236 | = | 0.0% |
| Stocks | 30/36 | €10,236 | €10,236 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,202 | €12,291 | -€1,911 | -13.5% |
| Other amounts receivable | 41 | €14,202 | €12,291 | -€1,911 | -13.5% |
| Current investments | 50/53 | €560,000 | €150,000 | -€410,000 | -73.2% |
| Cash at bank and in hand | 54/58 | €27,998 | €11,044 | -€16,954 | -60.6% |
| Deferred charges and accrued income | 490/1 | €6,755 | €6,100 | -€655 | -9.7% |
| Total equity and liabilities | 10/49 | €639,192 | €209,672 | -€429,520 | -67.2% |
| Equity | 10/15 | €238,205 | €209,672 | -€28,533 | -12.0% |
| Contributions | 10/11 | €150,312 | €150,312 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €88,312 | €88,312 | = | 0.0% |
| Share premium | 1100/10 | €88,312 | €88,312 | = | 0.0% |
| Reserves | 13 | €57,653 | €57,653 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,950 | €13,950 | = | 0.0% |
| Legal reserve | 130 | €13,950 | €13,950 | = | 0.0% |
| Distributable reserves | 133 | €43,703 | €43,703 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,240 | €1,707 | -€28,533 | -94.4% |
| Amounts payable | 17/49 | €400,987 | - | -€400,987 | |
| Amounts payable within one year | 42/48 | €400,987 | - | -€400,987 | |
| Trade debts | 44 | €987 | - | -€987 | |
| Suppliers | 440/4 | €987 | - | -€987 | |
| Other amounts payable | 47/48 | €400,000 | - | -€400,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €251 | - | -€251 | |
| Other operating charges | 640/8 | €5,267 | €4,745 | -€522 | -9.9% |
| Gross operating margin | 9900 | -€24,344 | -€31,605 | -€7,261 | -29.8% |
| Operating profit (loss) | 9901 | -€29,862 | -€36,350 | -€6,489 | -21.7% |
| Financial income | 75/76B | €19,842 | €8,187 | -€11,656 | -58.7% |
| Recurring financial income | 75 | €19,842 | €8,187 | -€11,656 | -58.7% |
| Financial charges | 65/66B | €536 | €369 | -€166 | -31.0% |
| Recurring financial charges | 65 | €536 | €369 | -€166 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,555 | -€28,533 | -€17,978 | -170% |
| Profit (loss) for the period | 9904 | -€10,555 | -€28,533 | -€17,978 | -170% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,555 | -€28,533 | -€17,978 | -170% |
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 16 October 2026 via checked.be.