HOYDONCKX: 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.
HOYDONCKX
Largest movements
- Receivables within one year -€136,983
down €136,983 (-89.0%), from €153,893 to €16,910
of which Other amounts receivable: -€136,633
- Cash +€16,811
up €16,811 (+250%), from €6,733 to €23,544
mainly Receivables within one year (+€136,983) and Current portion of long-term debt (+€42,483)
- Tangible fixed assets -€15,966
down €15,966 (-15.4%), from €103,812 to €87,846
of which Furniture and vehicles: -€8,667
- Stocks and contracts +€7,645
up €7,645 (+4.7%), from €162,905 to €170,550
- Other debts -€140,000
no longer reported in 2025 (was €140,000)
- Contributions -€48,442
down €48,442 (-44.7%), from €108,442 to €60,000
of which Capital: -€108,442
- Current portion of long-term debt +€42,483
up €42,483 (+213%), from €19,948 to €62,431
- Trade debts +€23,890
up €23,890 (+63.0%), from €37,949 to €61,839
- Reserves -€19,093
down €19,093 (-34.3%), from €55,709 to €36,617
of which Non-distributable reserves: -€12,100
- Staff costs +€22,764
up €22,764 (+43.0%), from €52,971 to €75,735
- Gross operating margin -€19,370
down €19,370 (-14.8%), from €131,272 to €111,902
- Taxes -€9,573
down €9,573 (-55.6%), from €17,219 to €7,646
- Depreciation -€2,550
down €2,550 (-13.8%), from €18,516 to €15,966
- Financial income -€1,543
down €1,543 (-58.4%), from €2,643 to €1,099
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 | €427,468 | €298,850 | -€128,618 | -30.1% |
| Fixed assets | 21/28 | €103,937 | €87,846 | -€16,091 | -15.5% |
| Tangible fixed assets | 22/27 | €103,812 | €87,846 | -€15,966 | -15.4% |
| Land and buildings | 22 | €33,994 | €26,695 | -€7,299 | -21.5% |
| Furniture and vehicles | 24 | €69,818 | €61,152 | -€8,667 | -12.4% |
| Financial fixed assets | 28 | €125 | - | -€125 | |
| Current assets | 29/58 | €323,530 | €211,003 | -€112,527 | -34.8% |
| Stocks and contracts in progress | 3 | €162,905 | €170,550 | +€7,645 | +4.7% |
| Stocks | 30/36 | €162,905 | €170,550 | +€7,645 | +4.7% |
| Amounts receivable within one year | 40/41 | €153,893 | €16,910 | -€136,983 | -89.0% |
| Trade receivables | 40 | €350 | - | -€350 | |
| Other amounts receivable | 41 | €153,543 | €16,910 | -€136,633 | -89.0% |
| Cash at bank and in hand | 54/58 | €6,733 | €23,544 | +€16,811 | +250% |
| Total equity and liabilities | 10/49 | €427,468 | €298,850 | -€128,618 | -30.1% |
| Equity | 10/15 | €164,151 | €96,617 | -€67,534 | -41.1% |
| Contributions | 10/11 | €108,442 | €60,000 | -€48,442 | -44.7% |
| Capital | 10 | €108,442 | - | -€108,442 | |
| Issued capital | 100 | €121,108 | - | -€121,108 | |
| Uncalled capital | 101 | €12,667 | - | -€12,667 | |
| Contributions outside capital | 11 | - | €60,000 | +€60,000 | |
| Other | 1109/19 | - | €60,000 | +€60,000 | |
| Reserves | 13 | €55,709 | €36,617 | -€19,093 | -34.3% |
| Non-distributable reserves | 130/1 | €12,100 | - | -€12,100 | |
| Legal reserve | 130 | €12,100 | - | -€12,100 | |
| Distributable reserves | 133 | €43,609 | €36,617 | -€6,993 | -16.0% |
| Amounts payable | 17/49 | €263,317 | €202,233 | -€61,083 | -23.2% |
| Amounts payable after more than one year | 17 | €42,779 | €50,504 | +€7,725 | +18.1% |
| Financial debts | 170/4 | €42,779 | €50,504 | +€7,725 | +18.1% |
| Amounts payable within one year | 42/48 | €220,538 | €151,729 | -€68,809 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €19,948 | €62,431 | +€42,483 | +213% |
| Trade debts | 44 | €37,949 | €61,839 | +€23,890 | +63.0% |
| Suppliers | 440/4 | €37,949 | €61,839 | +€23,890 | +63.0% |
| Taxes, remuneration and social security | 45 | €22,641 | €27,459 | +€4,818 | +21.3% |
| Taxes | 450/3 | €18,674 | €19,033 | +€358 | +1.9% |
| Remuneration and social security | 454/9 | €3,966 | €8,426 | +€4,460 | +112% |
| Other amounts payable | 47/48 | €140,000 | - | -€140,000 | |
| Remuneration, social security and pensions | 62 | €52,971 | €75,735 | +€22,764 | +43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,516 | €15,966 | -€2,550 | -13.8% |
| Other operating charges | 640/8 | €3,005 | €2,321 | -€684 | -22.8% |
| Gross operating margin | 9900 | €131,272 | €111,902 | -€19,370 | -14.8% |
| Operating profit (loss) | 9901 | €56,780 | €17,881 | -€38,900 | -68.5% |
| Financial income | 75/76B | €2,643 | €1,099 | -€1,543 | -58.4% |
| Recurring financial income | 75 | €2,643 | €1,099 | -€1,543 | -58.4% |
| Financial charges | 65/66B | €5,864 | €4,651 | -€1,213 | -20.7% |
| Recurring financial charges | 65 | €5,864 | €4,651 | -€1,213 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €53,559 | €14,329 | -€39,230 | -73.2% |
| Income taxes | 67/77 | €17,219 | €7,646 | -€9,573 | -55.6% |
| Profit (loss) for the period | 9904 | €36,340 | €6,683 | -€29,657 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,340 | €6,683 | -€29,657 | -81.6% |
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 24 October 2026 via checked.be.