T Hoeveken: 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.
T Hoeveken
Largest movements
- Cash -€22,410
down €22,410 (-8.5%), from €263,353 to €240,943
mainly Contributions, distributions and other (-€71,677) and Other debts (-€69,479)
- Tangible fixed assets -€14,441
down €14,441 (-58.5%), from €24,670 to €10,229
of which Furniture and vehicles: -€9,150
- Receivables within one year -€5,301
down €5,301 (-83.1%), from €6,380 to €1,079
- Other debts -€69,479
down €69,479 (-36.7%), from €189,456 to €119,977
- Reserves +€15,425
up €15,425 (+21.5%), from €71,677 to €87,102
- Trade debts +€8,260
up €8,260 (+96.8%), from €8,529 to €16,788
- Tax, wage and social debts +€4,155
up €4,155 (+22.8%), from €18,245 to €22,400
of which Taxes: +€5,715
- Other operating charges -€18,109
down €18,109 (-81.1%), from €22,338 to €4,229
- Depreciation -€5,860
down €5,860 (-27.0%), from €21,697 to €15,837
- Gross operating margin -€3,472
down €3,472 (-1.7%), from €210,380 to €206,908
- Taxes +€2,451
up €2,451 (+11.0%), from €22,235 to €24,686
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 | €302,907 | €261,268 | -€41,639 | -13.7% |
| Fixed assets | 21/28 | €24,670 | €10,229 | -€14,441 | -58.5% |
| Tangible fixed assets | 22/27 | €24,670 | €10,229 | -€14,441 | -58.5% |
| Land and buildings | 22 | €2,161 | €442 | -€1,719 | -79.5% |
| Plant, machinery and equipment | 23 | €11,877 | €8,305 | -€3,572 | -30.1% |
| Furniture and vehicles | 24 | €10,632 | €1,482 | -€9,150 | -86.1% |
| Current assets | 29/58 | €278,236 | €251,039 | -€27,198 | -9.8% |
| Stocks and contracts in progress | 3 | €6,160 | €5,610 | -€550 | -8.9% |
| Stocks | 30/36 | €6,160 | €5,610 | -€550 | -8.9% |
| Amounts receivable within one year | 40/41 | €6,380 | €1,079 | -€5,301 | -83.1% |
| Other amounts receivable | 41 | €6,380 | €1,079 | -€5,301 | -83.1% |
| Cash at bank and in hand | 54/58 | €263,353 | €240,943 | -€22,410 | -8.5% |
| Deferred charges and accrued income | 490/1 | €2,343 | €3,407 | +€1,064 | +45.4% |
| Total equity and liabilities | 10/49 | €302,907 | €261,268 | -€41,639 | -13.7% |
| Equity | 10/15 | €86,677 | €102,102 | +€15,425 | +17.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €71,677 | €87,102 | +€15,425 | +21.5% |
| Distributable reserves | 133 | €71,677 | €87,102 | +€15,425 | +21.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €216,230 | €159,166 | -€57,064 | -26.4% |
| Amounts payable within one year | 42/48 | €216,230 | €159,166 | -€57,064 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €8,529 | €16,788 | +€8,260 | +96.8% |
| Suppliers | 440/4 | €8,529 | €16,788 | +€8,260 | +96.8% |
| Taxes, remuneration and social security | 45 | €18,245 | €22,400 | +€4,155 | +22.8% |
| Taxes | 450/3 | €6,937 | €12,652 | +€5,715 | +82.4% |
| Remuneration and social security | 454/9 | €11,308 | €9,748 | -€1,560 | -13.8% |
| Other amounts payable | 47/48 | €189,456 | €119,977 | -€69,479 | -36.7% |
| Remuneration, social security and pensions | 62 | €69,069 | €70,902 | +€1,833 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,697 | €15,837 | -€5,860 | -27.0% |
| Other operating charges | 640/8 | €22,338 | €4,229 | -€18,109 | -81.1% |
| Non-recurring operating charges | 66A | €1,287 | €0 | -€1,287 | -100% |
| Gross operating margin | 9900 | €210,380 | €206,908 | -€3,472 | -1.7% |
| Operating profit (loss) | 9901 | €95,988 | €115,940 | +€19,952 | +20.8% |
| Financial income | 75/76B | €932 | €0 | -€932 | -100% |
| Recurring financial income | 75 | €932 | €0 | -€932 | -100% |
| Financial charges | 65/66B | €3,008 | €4,152 | +€1,144 | +38.0% |
| Recurring financial charges | 65 | €3,008 | €4,152 | +€1,144 | +38.0% |
| Profit (loss) for the period before taxes | 9903 | €93,912 | €111,788 | +€17,876 | +19.0% |
| Income taxes | 67/77 | €22,235 | €24,686 | +€2,451 | +11.0% |
| Profit (loss) for the period | 9904 | €71,677 | €87,102 | +€15,425 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €71,677 | €87,102 | +€15,425 | +21.5% |
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 26 October 2026 via checked.be.