't Hofke: 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 Hofke
Largest movements
- Current investments -€437,000
no longer reported in 2025 (was €437,000)
- Receivables within one year -€214,155
no longer reported in 2025 (was €214,155)
of which Other amounts receivable: -€185,997
- Tangible fixed assets -€55,916
down €55,916 (-13.7%), from €409,168 to €353,252
of which Other tangible fixed assets: -€51,239
- Cash +€16,762
up €16,762 (+689%), from €2,433 to €19,195
mainly Current investments (+€437,000) and Receivables within one year (+€214,155)
- Debts within one year -€586,027
down €586,027 (-38.6%), from €1.5m to €932,852
- Profit (loss) carried forward -€87,076
down €87,076 (-18.4%), from -€472,435 to -€559,511
- Debts after one year -€16,573
no longer reported in 2025 (was €16,573)
- Gross operating margin -€55,013
down €55,013 (-87.8%), from €62,677 to €7,664
- Financial charges -€48,844
down €48,844 (-56.1%), from €87,012 to €38,168
- Other operating charges -€2,826
down €2,826 (-79.6%), from €3,550 to €724
- Staff costs -€2,088
no longer reported in 2025 (was €2,088)
- Depreciation -€1,594
down €1,594 (-2.8%), from €57,510 to €55,916
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 | €1,063,069 | €373,341 | -€689,728 | -64.9% |
| Fixed assets | 21/28 | €409,168 | €353,252 | -€55,916 | -13.7% |
| Tangible fixed assets | 22/27 | €409,168 | €353,252 | -€55,916 | -13.7% |
| Plant, machinery and equipment | 23 | €8,853 | €4,175 | -€4,678 | -52.8% |
| Other tangible fixed assets | 26 | €400,315 | €349,077 | -€51,239 | -12.8% |
| Current assets | 29/58 | €653,901 | €20,090 | -€633,811 | -96.9% |
| Amounts receivable within one year | 40/41 | €214,155 | - | -€214,155 | |
| Trade receivables | 40 | €28,159 | - | -€28,159 | |
| Other amounts receivable | 41 | €185,997 | - | -€185,997 | |
| Current investments | 50/53 | €437,000 | - | -€437,000 | |
| Cash at bank and in hand | 54/58 | €2,433 | €19,195 | +€16,762 | +689% |
| Deferred charges and accrued income | 490/1 | €313 | €894 | +€582 | +186% |
| Total equity and liabilities | 10/49 | €1,063,069 | €373,341 | -€689,728 | -64.9% |
| Equity | 10/15 | -€472,435 | -€559,511 | -€87,076 | -18.4% |
| Profit (loss) carried forward | 14 | -€472,435 | -€559,511 | -€87,076 | -18.4% |
| Amounts payable | 17/49 | €1,535,504 | €932,852 | -€602,652 | -39.2% |
| Amounts payable after more than one year | 17 | €16,573 | - | -€16,573 | |
| Financial debts | 170/4 | €16,573 | - | -€16,573 | |
| Amounts payable within one year | 42/48 | €1,518,879 | €932,852 | -€586,027 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €32,917 | €16,573 | -€16,345 | -49.7% |
| Financial debts | 43 | €96,622 | - | -€96,622 | |
| Credit institutions | 430/8 | €96,622 | - | -€96,622 | |
| Trade debts | 44 | €198,931 | €2,880 | -€196,052 | -98.6% |
| Suppliers | 440/4 | €198,931 | €2,880 | -€196,052 | -98.6% |
| Taxes, remuneration and social security | 45 | €4,531 | €610 | -€3,921 | -86.5% |
| Taxes | 450/3 | €2,851 | €610 | -€2,241 | -78.6% |
| Remuneration and social security | 454/9 | €1,680 | - | -€1,680 | |
| Accrued charges and deferred income | 492/3 | €52 | - | -€52 | |
| Remuneration, social security and pensions | 62 | €2,088 | - | -€2,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,510 | €55,916 | -€1,594 | -2.8% |
| Other operating charges | 640/8 | €3,550 | €724 | -€2,826 | -79.6% |
| Non-recurring operating charges | 66A | €536 | - | -€536 | |
| Gross operating margin | 9900 | €62,677 | €7,664 | -€55,013 | -87.8% |
| Operating profit (loss) | 9901 | -€1,007 | -€48,976 | -€47,969 | -4,763% |
| Financial income | 75/76B | €0 | €68 | +€68 | +97,086% |
| Recurring financial income | 75 | €0 | €68 | +€68 | +97,086% |
| Financial charges | 65/66B | €87,012 | €38,168 | -€48,844 | -56.1% |
| Recurring financial charges | 65 | €87,012 | €38,168 | -€48,844 | -56.1% |
| Profit (loss) for the period before taxes | 9903 | -€88,019 | -€87,076 | +€943 | +1.1% |
| Profit (loss) for the period | 9904 | -€88,019 | -€87,076 | +€943 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,019 | -€87,076 | +€943 | +1.1% |
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 31 October 2026 via checked.be.