Michael Hofmann: 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.
Michael Hofmann
Largest movements
- Cash +€41,888
up €41,888 (+49.9%), from €83,956 to €125,844
mainly Net result for the year (+€108,054) and Tax, wage and social debts (+€29,706)
- Tangible fixed assets -€9,943
down €9,943 (-23.1%), from €43,118 to €33,176
- Tax, wage and social debts +€29,706
up €29,706 (+149%), from €19,871 to €49,578
- Profit (loss) carried forward +€8,709
up €8,709 (+8.9%), from €97,462 to €106,172
- Contributions -€3,600
down €3,600 (-19.4%), from €18,600 to €15,000
- Reserves +€3,600
up €3,600 (+194%), from €1,860 to €5,460
- Trade debts -€2,737
down €2,737 (-83.4%), from €3,281 to €545
- Gross operating margin +€15,270
up €15,270 (+11.1%), from €137,256 to €152,525
- Taxes +€5,283
up €5,283 (+19.1%), from €27,681 to €32,964
- Financial charges -€3,059
down €3,059 (-92.2%), from €3,318 to €259
- Financial income -€2,893
no longer reported in 2025 (was €2,893)
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 | €147,892 | €181,362 | +€33,471 | +22.6% |
| Fixed assets | 21/28 | €43,118 | €33,176 | -€9,943 | -23.1% |
| Tangible fixed assets | 22/27 | €43,118 | €33,176 | -€9,943 | -23.1% |
| Furniture and vehicles | 24 | €43,118 | €33,176 | -€9,943 | -23.1% |
| Current assets | 29/58 | €104,773 | €148,187 | +€43,413 | +41.4% |
| Amounts receivable within one year | 40/41 | €10 | - | -€10 | |
| Trade receivables | 40 | €10 | - | -€10 | |
| Current investments | 50/53 | €20,807 | €20,807 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €83,956 | €125,844 | +€41,888 | +49.9% |
| Deferred charges and accrued income | 490/1 | - | €1,535 | +€1,535 | |
| Total equity and liabilities | 10/49 | €147,892 | €181,362 | +€33,471 | +22.6% |
| Equity | 10/15 | €117,922 | €126,632 | +€8,709 | +7.4% |
| Contributions | 10/11 | €18,600 | €15,000 | -€3,600 | -19.4% |
| Contributions outside capital | 11 | €18,600 | €15,000 | -€3,600 | -19.4% |
| Other | 1109/19 | €18,600 | €15,000 | -€3,600 | -19.4% |
| Reserves | 13 | €1,860 | €5,460 | +€3,600 | +194% |
| Non-distributable reserves | 130/1 | €1,860 | €5,460 | +€3,600 | +194% |
| Reserves not available under the articles | 1311 | €1,860 | €5,460 | +€3,600 | +194% |
| Profit (loss) carried forward | 14 | €97,462 | €106,172 | +€8,709 | +8.9% |
| Amounts payable | 17/49 | €29,970 | €54,731 | +€24,761 | +82.6% |
| Amounts payable within one year | 42/48 | €27,150 | €53,231 | +€26,081 | +96.1% |
| Trade debts | 44 | €3,281 | €545 | -€2,737 | -83.4% |
| Suppliers | 440/4 | €3,281 | €545 | -€2,737 | -83.4% |
| Taxes, remuneration and social security | 45 | €19,871 | €49,578 | +€29,706 | +149% |
| Taxes | 450/3 | €19,871 | €49,578 | +€29,706 | +149% |
| Other amounts payable | 47/48 | €3,997 | €3,108 | -€888 | -22.2% |
| Accrued charges and deferred income | 492/3 | €2,820 | €1,500 | -€1,320 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,502 | €10,946 | +€444 | +4.2% |
| Other operating charges | 640/8 | €385 | €303 | -€82 | -21.3% |
| Gross operating margin | 9900 | €137,256 | €152,525 | +€15,270 | +11.1% |
| Operating profit (loss) | 9901 | €126,369 | €141,277 | +€14,908 | +11.8% |
| Financial income | 75/76B | €2,893 | - | -€2,893 | |
| Recurring financial income | 75 | €2,893 | - | -€2,893 | |
| Financial charges | 65/66B | €3,318 | €259 | -€3,059 | -92.2% |
| Recurring financial charges | 65 | €3,318 | €259 | -€3,059 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €125,943 | €141,017 | +€15,075 | +12.0% |
| Income taxes | 67/77 | €27,681 | €32,964 | +€5,283 | +19.1% |
| Profit (loss) for the period | 9904 | €98,262 | €108,054 | +€9,792 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €98,262 | €108,054 | +€9,792 | +10.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.