Sven Hofstede: 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.
Sven Hofstede
Largest movements
- Cash +€48,193
up €48,193 (+32.1%), from €149,945 to €198,137
mainly Net result for the year (+€97,861) and Depreciation (+€15,726)
- Tangible fixed assets -€9,256
down €9,256 (-23.0%), from €40,315 to €31,059
of which Furniture and vehicles: -€13,063
- Reserves +€97,861
up €97,861 (+70.3%), from €139,165 to €237,026
- Other debts -€34,209
down €34,209 (-88.0%), from €38,870 to €4,661
- Tax, wage and social debts -€22,860
down €22,860 (-83.1%), from €27,497 to €4,637
- Gross operating margin -€3,419
down €3,419 (-2.4%), from €143,860 to €140,442
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 | €207,626 | €247,905 | +€40,278 | +19.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €40,315 | €31,059 | -€9,256 | -23.0% |
| Tangible fixed assets | 22/27 | €40,315 | €31,059 | -€9,256 | -23.0% |
| Plant, machinery and equipment | 23 | €1,480 | €1,100 | -€380 | -25.7% |
| Furniture and vehicles | 24 | €37,014 | €23,952 | -€13,063 | -35.3% |
| Other tangible fixed assets | 26 | €1,821 | €6,008 | +€4,187 | +230% |
| Current assets | 29/58 | €167,312 | €216,846 | +€49,534 | +29.6% |
| Amounts receivable within one year | 40/41 | €15,994 | €17,243 | +€1,250 | +7.8% |
| Trade receivables | 40 | €15,200 | €17,052 | +€1,852 | +12.2% |
| Other amounts receivable | 41 | €794 | €191 | -€602 | -75.9% |
| Cash at bank and in hand | 54/58 | €149,945 | €198,137 | +€48,193 | +32.1% |
| Deferred charges and accrued income | 490/1 | €1,373 | €1,465 | +€92 | +6.7% |
| Total equity and liabilities | 10/49 | €207,626 | €247,905 | +€40,278 | +19.4% |
| Equity | 10/15 | €140,165 | €238,026 | +€97,861 | +69.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €139,165 | €237,026 | +€97,861 | +70.3% |
| Distributable reserves | 133 | €139,165 | €237,026 | +€97,861 | +70.3% |
| Amounts payable | 17/49 | €67,462 | €9,879 | -€57,583 | -85.4% |
| Amounts payable within one year | 42/48 | €67,462 | €9,879 | -€57,583 | -85.4% |
| Trade debts | 44 | €1,094 | €581 | -€513 | -46.9% |
| Suppliers | 440/4 | €1,094 | €581 | -€513 | -46.9% |
| Taxes, remuneration and social security | 45 | €27,497 | €4,637 | -€22,860 | -83.1% |
| Taxes | 450/3 | €27,497 | €4,637 | -€22,860 | -83.1% |
| Other amounts payable | 47/48 | €38,870 | €4,661 | -€34,209 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,685 | €15,726 | +€41 | +0.3% |
| Other operating charges | 640/8 | €168 | €170 | +€2 | +1.2% |
| Gross operating margin | 9900 | €143,860 | €140,442 | -€3,419 | -2.4% |
| Operating profit (loss) | 9901 | €128,007 | €124,546 | -€3,461 | -2.7% |
| Financial income | 75/76B | - | €63 | +€63 | |
| Recurring financial income | 75 | - | €63 | +€63 | |
| Financial charges | 65/66B | €54 | €92 | +€38 | +70.2% |
| Recurring financial charges | 65 | €54 | €92 | +€38 | +70.2% |
| Profit (loss) for the period before taxes | 9903 | €127,953 | €124,517 | -€3,436 | -2.7% |
| Income taxes | 67/77 | €27,497 | €26,656 | -€841 | -3.1% |
| Profit (loss) for the period | 9904 | €100,456 | €97,861 | -€2,595 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,456 | €97,861 | -€2,595 | -2.6% |
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 28 October 2026 via checked.be.