HOVOCO: 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.
HOVOCO
Largest movements
- Cash +€235,857
up €235,857 (+154.9%), from €152,311 to €388,168
mainly Net result for the year (+€400,401) and Other debts (+€335,989)
- Receivables within one year +€147,021
up €147,021 (+36.6%), from €401,502 to €548,523
of which Other amounts receivable: +€199,466
- Tangible fixed assets -€76,110
down €76,110 (-6.2%), from €1.2m to €1.1m
of which Land and buildings: -€48,642
- Other debts +€335,989
up €335,989 (+50.1%), from €671,108 to €1.0m
- Debts after one year -€146,143
down €146,143 (-17.1%), from €856,381 to €710,239
- Reserves +€74,879
up €74,879 (+4.3%), from €1.7m to €1.8m
of which Distributable reserves: +€249,319
- Tax, wage and social debts +€37,395
up €37,395 (+259.8%), from €14,395 to €51,790
- Gross operating margin +€470,152
up €470,152 (+165.0%), from €284,862 to €755,013
- Taxes +€169,863
up €169,863 (+489.2%), from €34,719 to €204,582
- Depreciation -€85,751
down €85,751 (-51.0%), from €168,125 to €82,374
- Financial charges +€14,623
up €14,623 (+27.6%), from €52,945 to €67,568
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 | €3,424,217 | €3,731,758 | +€307,541 | +9.0% |
| Fixed assets | 21/28 | €1,923,011 | €1,846,901 | -€76,110 | -4.0% |
| Tangible fixed assets | 22/27 | €1,225,011 | €1,148,901 | -€76,110 | -6.2% |
| Land and buildings | 22 | €1,113,638 | €1,064,996 | -€48,642 | -4.4% |
| Plant, machinery and equipment | 23 | €109,278 | €82,348 | -€26,930 | -24.6% |
| Furniture and vehicles | 24 | €2,095 | €1,557 | -€538 | -25.7% |
| Financial fixed assets | 28 | €698,000 | €698,000 | = | 0.0% |
| Current assets | 29/58 | €1,501,206 | €1,884,857 | +€383,651 | +25.6% |
| Stocks and contracts in progress | 3 | €4,413 | €3,936 | -€477 | -10.8% |
| Stocks | 30/36 | €4,413 | €3,936 | -€477 | -10.8% |
| Amounts receivable within one year | 40/41 | €401,502 | €548,523 | +€147,021 | +36.6% |
| Trade receivables | 40 | €385,968 | €333,523 | -€52,445 | -13.6% |
| Other amounts receivable | 41 | €15,534 | €215,000 | +€199,466 | +1284.1% |
| Current investments | 50/53 | €942,980 | €944,231 | +€1,251 | +0.1% |
| Cash at bank and in hand | 54/58 | €152,311 | €388,168 | +€235,857 | +154.9% |
| Total equity and liabilities | 10/49 | €3,424,217 | €3,731,758 | +€307,541 | +9.0% |
| Equity | 10/15 | €1,734,287 | €1,809,165 | +€74,879 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Share premium | 1100/10 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,728,087 | €1,802,965 | +€74,879 | +4.3% |
| Tax-exempt reserves | 132 | €174,440 | - | -€174,440 | |
| Distributable reserves | 133 | €1,553,647 | €1,802,965 | +€249,319 | +16.0% |
| Amounts payable | 17/49 | €1,689,931 | €1,922,593 | +€232,662 | +13.8% |
| Amounts payable after more than one year | 17 | €856,381 | €710,239 | -€146,143 | -17.1% |
| Financial debts | 170/4 | €856,381 | €710,239 | -€146,143 | -17.1% |
| Amounts payable within one year | 42/48 | €833,549 | €1,212,354 | +€378,805 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €146,143 | €146,738 | +€595 | +0.4% |
| Trade debts | 44 | €1,904 | €6,730 | +€4,826 | +253.4% |
| Suppliers | 440/4 | €1,904 | €6,730 | +€4,826 | +253.4% |
| Taxes, remuneration and social security | 45 | €14,395 | €51,790 | +€37,395 | +259.8% |
| Taxes | 450/3 | €14,395 | €51,790 | +€37,395 | +259.8% |
| Other amounts payable | 47/48 | €671,108 | €1,007,096 | +€335,989 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,125 | €82,374 | -€85,751 | -51.0% |
| Other operating charges | 640/8 | €1,075 | €1,150 | +€74 | +6.9% |
| Gross operating margin | 9900 | €284,862 | €755,013 | +€470,152 | +165.0% |
| Operating profit (loss) | 9901 | €115,661 | €671,489 | +€555,828 | +480.6% |
| Financial income | 75/76B | €3,078 | €1,062 | -€2,016 | -65.5% |
| Recurring financial income | 75 | €3,078 | €1,062 | -€2,016 | -65.5% |
| Financial charges | 65/66B | €52,945 | €67,568 | +€14,623 | +27.6% |
| Recurring financial charges | 65 | €52,945 | €67,568 | +€14,623 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €65,794 | €604,983 | +€539,189 | +819.5% |
| Income taxes | 67/77 | €34,719 | €204,582 | +€169,863 | +489.2% |
| Profit (loss) for the period | 9904 | €31,075 | €400,401 | +€369,327 | +1188.5% |
| Transfer from tax-exempt reserves | 789 | €174,440 | €174,440 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €205,515 | €574,841 | +€369,327 | +179.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.