HOVRYS: 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.
HOVRYS
Largest movements
- Receivables within one year +€162,657
up €162,657 (+98.5%), from €165,115 to €327,772
of which Other amounts receivable: +€115,595
- Tangible fixed assets -€25,152
down €25,152 (-31.4%), from €80,016 to €54,864
of which Furniture and vehicles: -€13,128
- Stocks and contracts -€14,826
down €14,826 (-93.1%), from €15,920 to €1,094
- Deferred charges and accrued income +€11,823
up €11,823 (+253.1%), from €4,671 to €16,493
- Cash -€10,357
down €10,357 (-64.4%), from €16,086 to €5,730
mainly Receivables within one year (-€162,657) and Trade debts (-€37,336)
- Debts after one year +€161,749
up €161,749 (+422.5%), from €38,283 to €200,032
- Trade debts -€37,336
down €37,336 (-25.7%), from €145,236 to €107,900
- Other debts +€36,657
up €36,657 (+380.2%), from €9,642 to €46,299
- Profit (loss) carried forward -€16,730
down €16,730, from €0 to -€16,730
- Current portion of long-term debt -€10,421
down €10,421 (-22.6%), from €46,159 to €35,737
- Gross operating margin -€42,515
down €42,515 (-19.4%), from €219,024 to €176,509
- Staff costs -€23,692
down €23,692 (-14.7%), from €161,474 to €137,782
- Financial charges +€18,964
up €18,964 (+150.0%), from €12,645 to €31,609
- Depreciation -€4,682
down €4,682 (-18.7%), from €25,045 to €20,363
- Other operating charges +€2,486
up €2,486 (+268.0%), from €928 to €3,414
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 | €299,127 | €433,272 | +€134,144 | +44.8% |
| Fixed assets | 21/28 | €97,335 | €82,183 | -€15,152 | -15.6% |
| Tangible fixed assets | 22/27 | €80,016 | €54,864 | -€25,152 | -31.4% |
| Plant, machinery and equipment | 23 | €9,563 | €1,134 | -€8,429 | -88.1% |
| Furniture and vehicles | 24 | €54,194 | €41,067 | -€13,128 | -24.2% |
| Other tangible fixed assets | 26 | €16,259 | €12,663 | -€3,595 | -22.1% |
| Financial fixed assets | 28 | €17,319 | €27,319 | +€10,000 | +57.7% |
| Current assets | 29/58 | €201,792 | €351,089 | +€149,297 | +74.0% |
| Stocks and contracts in progress | 3 | €15,920 | €1,094 | -€14,826 | -93.1% |
| Stocks | 30/36 | €15,920 | €1,094 | -€14,826 | -93.1% |
| Amounts receivable within one year | 40/41 | €165,115 | €327,772 | +€162,657 | +98.5% |
| Trade receivables | 40 | €91,908 | €138,969 | +€47,062 | +51.2% |
| Other amounts receivable | 41 | €73,207 | €188,802 | +€115,595 | +157.9% |
| Cash at bank and in hand | 54/58 | €16,086 | €5,730 | -€10,357 | -64.4% |
| Deferred charges and accrued income | 490/1 | €4,671 | €16,493 | +€11,823 | +253.1% |
| Total equity and liabilities | 10/49 | €299,127 | €433,272 | +€134,144 | +44.8% |
| Equity | 10/15 | €20,616 | €3,886 | -€16,730 | -81.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €8,216 | €8,216 | = | 0.0% |
| Non-distributable reserves | 130/1 | €327 | €327 | = | 0.0% |
| Reserves not available under the articles | 1311 | €327 | €327 | = | 0.0% |
| Distributable reserves | 133 | €7,888 | €7,888 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€16,730 | -€16,730 | |
| Amounts payable | 17/49 | €278,512 | €429,386 | +€150,874 | +54.2% |
| Amounts payable after more than one year | 17 | €38,283 | €200,032 | +€161,749 | +422.5% |
| Financial debts | 170/4 | €38,283 | €200,032 | +€161,749 | +422.5% |
| Amounts payable within one year | 42/48 | €240,229 | €229,354 | -€10,875 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €46,159 | €35,737 | -€10,421 | -22.6% |
| Trade debts | 44 | €145,236 | €107,900 | -€37,336 | -25.7% |
| Suppliers | 440/4 | €145,236 | €107,900 | -€37,336 | -25.7% |
| Advances received on contracts in progress | 46 | €4,203 | €0 | -€4,203 | -100.0% |
| Taxes, remuneration and social security | 45 | €34,989 | €39,417 | +€4,428 | +12.7% |
| Taxes | 450/3 | €7,222 | €38,236 | +€31,013 | +429.4% |
| Remuneration and social security | 454/9 | €27,767 | €1,182 | -€26,585 | -95.7% |
| Other amounts payable | 47/48 | €9,642 | €46,299 | +€36,657 | +380.2% |
| Non-recurring operating income | 76A | €19,000 | €0 | -€19,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €161,474 | €137,782 | -€23,692 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,045 | €20,363 | -€4,682 | -18.7% |
| Other operating charges | 640/8 | €928 | €3,414 | +€2,486 | +268.0% |
| Non-recurring operating charges | 66A | €202 | €0 | -€202 | -100.0% |
| Gross operating margin | 9900 | €219,024 | €176,509 | -€42,515 | -19.4% |
| Operating profit (loss) | 9901 | €31,375 | €14,950 | -€16,425 | -52.4% |
| Financial income | 75/76B | €196 | €71 | -€126 | -64.0% |
| Recurring financial income | 75 | €196 | €71 | -€126 | -64.0% |
| Financial charges | 65/66B | €12,645 | €31,609 | +€18,964 | +150.0% |
| Recurring financial charges | 65 | €12,645 | €31,609 | +€18,964 | +150.0% |
| Profit (loss) for the period before taxes | 9903 | €18,927 | -€16,589 | -€35,515 | |
| Income taxes | 67/77 | €840 | €141 | -€699 | -83.2% |
| Profit (loss) for the period | 9904 | €18,087 | -€16,730 | -€34,816 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,087 | -€16,730 | -€34,816 |
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 9 October 2026 via checked.be.