IMMO HOEFSLAG: 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.
IMMO HOEFSLAG
Largest movements
- Cash -€68,850
down €68,850 (-50.1%), from €137,339 to €68,489
mainly Contributions, distributions and other (-€68,114) and Trade debts (-€42,680)
- Tangible fixed assets +€4,342
up €4,342 (+3.0%), from €143,903 to €148,244
of which Plant, machinery and equipment: +€6,745
- Reserves -€73,960
down €73,960 (-47.8%), from €154,879 to €80,919
of which Distributable reserves: -€73,960
- Trade debts -€42,680
down €42,680 (-86.6%), from €49,259 to €6,580
- Debts after one year +€42,425
up €42,425 (+284%), from €14,931 to €57,356
- Gross operating margin -€5,032
down €5,032 (-20.6%), from €24,431 to €19,399
- Write-downs +€2,389
new in 2025: €2,389
- Depreciation +€2,326
up €2,326 (+19.7%), from €11,799 to €14,124
- Taxes -€1,067
down €1,067 (-100%), from €1,067 to €0
- Financial charges -€485
down €485 (-23.9%), from €2,032 to €1,547
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 | €388,242 | €317,874 | -€70,368 | -18.1% |
| Fixed assets | 21/28 | €144,403 | €148,744 | +€4,342 | +3.0% |
| Tangible fixed assets | 22/27 | €143,903 | €148,244 | +€4,342 | +3.0% |
| Land and buildings | 22 | €69,205 | €66,801 | -€2,404 | -3.5% |
| Plant, machinery and equipment | 23 | €74,698 | €81,443 | +€6,745 | +9.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €243,840 | €169,130 | -€74,710 | -30.6% |
| Amounts receivable within one year | 40/41 | €2,389 | €0 | -€2,389 | -100% |
| Other amounts receivable | 41 | €2,389 | €0 | -€2,389 | -100% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €137,339 | €68,489 | -€68,850 | -50.1% |
| Deferred charges and accrued income | 490/1 | €4,112 | €641 | -€3,471 | -84.4% |
| Total equity and liabilities | 10/49 | €388,242 | €317,874 | -€70,368 | -18.1% |
| Equity | 10/15 | €293,879 | €219,919 | -€73,960 | -25.2% |
| Contributions | 10/11 | €139,000 | €139,000 | = | 0.0% |
| Capital | 10 | €139,000 | €139,000 | = | 0.0% |
| Issued capital | 100 | €139,000 | €139,000 | = | 0.0% |
| Reserves | 13 | €154,879 | €80,919 | -€73,960 | -47.8% |
| Non-distributable reserves | 130/1 | €13,900 | €13,900 | = | 0.0% |
| Legal reserve | 130 | €13,900 | €13,900 | = | 0.0% |
| Distributable reserves | 133 | €140,979 | €67,019 | -€73,960 | -52.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €94,363 | €97,955 | +€3,592 | +3.8% |
| Amounts payable after more than one year | 17 | €14,931 | €57,356 | +€42,425 | +284% |
| Financial debts | 170/4 | €14,931 | €57,356 | +€42,425 | +284% |
| Amounts payable within one year | 42/48 | €77,193 | €34,952 | -€42,242 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €21,465 | €21,687 | +€221 | +1.0% |
| Trade debts | 44 | €49,259 | €6,580 | -€42,680 | -86.6% |
| Suppliers | 440/4 | €49,259 | €6,580 | -€42,680 | -86.6% |
| Taxes, remuneration and social security | 45 | €1,176 | €1,130 | -€46 | -3.9% |
| Taxes | 450/3 | €1,176 | €1,130 | -€46 | -3.9% |
| Other amounts payable | 47/48 | €5,293 | €5,556 | +€262 | +5.0% |
| Accrued charges and deferred income | 492/3 | €2,239 | €5,648 | +€3,409 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,799 | €14,124 | +€2,326 | +19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,389 | +€2,389 | |
| Other operating charges | 640/8 | €6,896 | €7,185 | +€289 | +4.2% |
| Gross operating margin | 9900 | €24,431 | €19,399 | -€5,032 | -20.6% |
| Operating profit (loss) | 9901 | €5,736 | -€4,299 | -€10,036 | |
| Financial income | 75/76B | €209 | €0 | -€209 | -100% |
| Recurring financial income | 75 | €209 | €0 | -€209 | -100% |
| Financial charges | 65/66B | €2,032 | €1,547 | -€485 | -23.9% |
| Recurring financial charges | 65 | €2,032 | €1,547 | -€485 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €3,913 | -€5,847 | -€9,759 | |
| Income taxes | 67/77 | €1,067 | €0 | -€1,067 | -100% |
| Profit (loss) for the period | 9904 | €2,846 | -€5,847 | -€8,692 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,846 | -€5,847 | -€8,692 |
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 19 October 2026 via checked.be.