'T HOF: 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 HOF
Largest movements
- Tangible fixed assets -€24,804
down €24,804 (-18.3%), from €135,436 to €110,632
of which Land and buildings: -€21,084
- Cash -€11,559
down €11,559 (-17.2%), from €67,141 to €55,582
mainly Debts after one year (-€28,286) and Tax, wage and social debts (-€9,262)
- Receivables within one year -€7,335
down €7,335 (-11.8%), from €62,321 to €54,986
of which Trade receivables: -€7,335
- Debts after one year -€28,286
down €28,286 (-82.3%), from €34,357 to €6,071
- Tax, wage and social debts -€9,262
down €9,262 (-28.6%), from €32,333 to €23,071
- Current portion of long-term debt -€4,000
down €4,000 (-12.4%), from €32,286 to €28,286
- Trade debts -€3,576
down €3,576 (-66.0%), from €5,421 to €1,845
No income-statement line moved by more than 1% of the activity.
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 | €264,898 | €221,200 | -€43,698 | -16.5% |
| Fixed assets | 21/28 | €135,436 | €110,632 | -€24,804 | -18.3% |
| Tangible fixed assets | 22/27 | €135,436 | €110,632 | -€24,804 | -18.3% |
| Land and buildings | 22 | €124,633 | €103,549 | -€21,084 | -16.9% |
| Plant, machinery and equipment | 23 | €3,316 | €781 | -€2,534 | -76.4% |
| Furniture and vehicles | 24 | €7,487 | €6,302 | -€1,186 | -15.8% |
| Current assets | 29/58 | €129,462 | €110,568 | -€18,894 | -14.6% |
| Amounts receivable within one year | 40/41 | €62,321 | €54,986 | -€7,335 | -11.8% |
| Trade receivables | 40 | €61,821 | €54,486 | -€7,335 | -11.9% |
| Other amounts receivable | 41 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,141 | €55,582 | -€11,559 | -17.2% |
| Total equity and liabilities | 10/49 | €264,898 | €221,200 | -€43,698 | -16.5% |
| Equity | 10/15 | €130,601 | €130,601 | = | 0.0% |
| Contributions | 10/11 | €40,022 | €40,022 | = | 0.0% |
| Reserves | 13 | €90,579 | €90,579 | = | 0.0% |
| Distributable reserves | 133 | €90,579 | €90,579 | = | 0.0% |
| Amounts payable | 17/49 | €134,297 | €90,599 | -€43,698 | -32.5% |
| Amounts payable after more than one year | 17 | €34,357 | €6,071 | -€28,286 | -82.3% |
| Financial debts | 170/4 | €34,357 | €6,071 | -€28,286 | -82.3% |
| Amounts payable within one year | 42/48 | €73,064 | €55,770 | -€17,294 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €32,286 | €28,286 | -€4,000 | -12.4% |
| Trade debts | 44 | €5,421 | €1,845 | -€3,576 | -66.0% |
| Suppliers | 440/4 | €5,421 | €1,845 | -€3,576 | -66.0% |
| Taxes, remuneration and social security | 45 | €32,333 | €23,071 | -€9,262 | -28.6% |
| Remuneration and social security | 454/9 | €32,333 | €23,071 | -€9,262 | -28.6% |
| Other amounts payable | 47/48 | €3,025 | €2,569 | -€456 | -15.1% |
| Accrued charges and deferred income | 492/3 | €26,876 | €28,757 | +€1,881 | +7.0% |
| Remuneration, social security and pensions | 62 | €161,735 | €162,188 | +€453 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,791 | €28,687 | -€104 | -0.4% |
| Other operating charges | 640/8 | €2,254 | €2,321 | +€67 | +3.0% |
| Gross operating margin | 9900 | €198,723 | €197,990 | -€733 | -0.4% |
| Operating profit (loss) | 9901 | €5,943 | €4,794 | -€1,149 | -19.3% |
| Financial income | 75/76B | €3,420 | €2,483 | -€937 | -27.4% |
| Recurring financial income | 75 | €3,420 | €2,483 | -€937 | -27.4% |
| Financial charges | 65/66B | €5,334 | €3,985 | -€1,349 | -25.3% |
| Recurring financial charges | 65 | €5,334 | €3,985 | -€1,349 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €4,030 | €3,293 | -€737 | -18.3% |
| Income taxes | 67/77 | €1,005 | €724 | -€281 | -28.0% |
| Profit (loss) for the period | 9904 | €3,025 | €2,569 | -€456 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,025 | €2,569 | -€456 | -15.1% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.