L. Hoste: 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.
L. Hoste
Largest movements
- Receivables within one year -€9,631
down €9,631 (-25.0%), from €38,457 to €28,825
of which Trade receivables: -€9,093
- Tangible fixed assets +€8,591
up €8,591 (+293%), from €2,934 to €11,525
of which Land and buildings: +€10,053
- Cash -€8,060
down €8,060 (-55.1%), from €14,616 to €6,557
mainly Short-term financial debts (-€22,878) and Investment in fixed assets (net) (-€10,138)
- Short-term financial debts -€22,878
down €22,878 (-100%), from €22,878 to €0
- Current portion of long-term debt +€12,537
up €12,537, from €0 to €12,537
- Other debts -€8,033
down €8,033 (-11.7%), from €68,604 to €60,571
- Reserves +€6,894
up €6,894 (+42.8%), from €16,097 to €22,991
of which Distributable reserves: +€6,894
- Trade debts +€6,407
up €6,407 (+92.6%), from €6,917 to €13,325
- Gross operating margin +€6,155
up €6,155 (+51.4%), from €11,977 to €18,132
- Other operating charges +€1,810
up €1,810 (+67.0%), from €2,701 to €4,511
- Depreciation -€1,486
down €1,486 (-49.0%), from €3,033 to €1,547
- Taxes +€1,373
up €1,373 (+77.3%), from €1,776 to €3,149
- Financial charges -€1,170
down €1,170 (-36.4%), from €3,217 to €2,047
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 | €133,375 | €124,911 | -€8,465 | -6.3% |
| Fixed assets | 21/28 | €2,934 | €11,525 | +€8,591 | +293% |
| Tangible fixed assets | 22/27 | €2,934 | €11,525 | +€8,591 | +293% |
| Land and buildings | 22 | - | €10,053 | +€10,053 | |
| Plant, machinery and equipment | 23 | €799 | €0 | -€799 | -100% |
| Furniture and vehicles | 24 | €2,134 | €1,472 | -€663 | -31.0% |
| Current assets | 29/58 | €130,441 | €113,386 | -€17,056 | -13.1% |
| Stocks and contracts in progress | 3 | €77,368 | €78,004 | +€635 | +0.8% |
| Stocks | 30/36 | €73,218 | €74,379 | +€1,160 | +1.6% |
| Contracts in progress | 37 | €4,150 | €3,625 | -€525 | -12.7% |
| Amounts receivable within one year | 40/41 | €38,457 | €28,825 | -€9,631 | -25.0% |
| Trade receivables | 40 | €37,918 | €28,825 | -€9,093 | -24.0% |
| Other amounts receivable | 41 | €538 | €0 | -€538 | -100% |
| Cash at bank and in hand | 54/58 | €14,616 | €6,557 | -€8,060 | -55.1% |
| Total equity and liabilities | 10/49 | €133,375 | €124,911 | -€8,465 | -6.3% |
| Equity | 10/15 | €20,626 | €27,519 | +€6,894 | +33.4% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €16,097 | €22,991 | +€6,894 | +42.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €16,097 | €22,991 | +€6,894 | +42.8% |
| Profit (loss) carried forward | 14 | -€20,261 | -€20,261 | = | 0.0% |
| Amounts payable | 17/49 | €112,750 | €97,391 | -€15,358 | -13.6% |
| Amounts payable within one year | 42/48 | €112,750 | €97,391 | -€15,358 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €12,537 | +€12,537 | |
| Financial debts | 43 | €22,878 | €0 | -€22,878 | -100% |
| Credit institutions | 430/8 | €22,878 | €0 | -€22,878 | -100% |
| Trade debts | 44 | €6,917 | €13,325 | +€6,407 | +92.6% |
| Suppliers | 440/4 | €6,917 | €13,325 | +€6,407 | +92.6% |
| Taxes, remuneration and social security | 45 | €14,350 | €10,959 | -€3,391 | -23.6% |
| Taxes | 450/3 | €2,466 | €4,982 | +€2,516 | +102% |
| Remuneration and social security | 454/9 | €11,884 | €5,977 | -€5,907 | -49.7% |
| Other amounts payable | 47/48 | €68,604 | €60,571 | -€8,033 | -11.7% |
| Remuneration, social security and pensions | 62 | €305 | €0 | -€305 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,033 | €1,547 | -€1,486 | -49.0% |
| Other operating charges | 640/8 | €2,701 | €4,511 | +€1,810 | +67.0% |
| Gross operating margin | 9900 | €11,977 | €18,132 | +€6,155 | +51.4% |
| Operating profit (loss) | 9901 | €5,938 | €12,074 | +€6,137 | +103% |
| Financial income | 75/76B | €12 | €16 | +€4 | +34.5% |
| Recurring financial income | 75 | €12 | €16 | +€4 | +34.5% |
| Financial charges | 65/66B | €3,217 | €2,047 | -€1,170 | -36.4% |
| Recurring financial charges | 65 | €3,217 | €2,047 | -€1,170 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €2,733 | €10,043 | +€7,310 | +268% |
| Income taxes | 67/77 | €1,776 | €3,149 | +€1,373 | +77.3% |
| Profit (loss) for the period | 9904 | €956 | €6,894 | +€5,937 | +621% |
| Profit (loss) for the period to be appropriated | 9905 | €956 | €6,894 | +€5,937 | +621% |
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 14 October 2026 via checked.be.