'T HOFVELD: 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 HOFVELD
Largest movements
- Tangible fixed assets -€14,666
down €14,666 (-3.7%), from €393,042 to €378,376
of which Land and buildings: -€14,164
- Cash +€8,192
up €8,192 (+160%), from €5,124 to €13,316
mainly Depreciation (+€14,666) and Other debts (+€11,400)
- Other debts +€11,400
up €11,400 (+9.4%), from €121,062 to €132,462
- Profit (loss) carried forward -€7,310
down €7,310 (-10.0%), from €73,077 to €65,767
- Reserves -€6,872
down €6,872 (-5.3%), from €129,601 to €122,729
of which Tax-exempt reserves: -€6,872
- Gross operating margin -€8,349
down €8,349 (-85.4%), from €9,772 to €1,423
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 | €398,166 | €391,846 | -€6,321 | -1.6% |
| Fixed assets | 21/28 | €393,042 | €378,376 | -€14,666 | -3.7% |
| Tangible fixed assets | 22/27 | €393,042 | €378,376 | -€14,666 | -3.7% |
| Land and buildings | 22 | €391,011 | €376,846 | -€14,164 | -3.6% |
| Plant, machinery and equipment | 23 | €2,031 | €1,529 | -€502 | -24.7% |
| Current assets | 29/58 | €5,124 | €13,470 | +€8,346 | +163% |
| Cash at bank and in hand | 54/58 | €5,124 | €13,316 | +€8,192 | +160% |
| Deferred charges and accrued income | 490/1 | €0 | €153 | +€153 | |
| Total equity and liabilities | 10/49 | €398,166 | €391,846 | -€6,321 | -1.6% |
| Equity | 10/15 | €221,270 | €207,088 | -€14,182 | -6.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €129,601 | €122,729 | -€6,872 | -5.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €127,182 | €120,310 | -€6,872 | -5.4% |
| Distributable reserves | 133 | €560 | €560 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,077 | €65,767 | -€7,310 | -10.0% |
| Provisions and deferred taxes | 16 | €55,834 | €52,295 | -€3,538 | -6.3% |
| Deferred taxes | 168 | €55,834 | €52,295 | -€3,538 | -6.3% |
| Amounts payable | 17/49 | €121,062 | €132,462 | +€11,400 | +9.4% |
| Amounts payable within one year | 42/48 | €121,062 | €132,462 | +€11,400 | +9.4% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €121,062 | €132,462 | +€11,400 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,666 | €14,666 | = | 0.0% |
| Other operating charges | 640/8 | €4,423 | €4,405 | -€17 | -0.4% |
| Gross operating margin | 9900 | €9,772 | €1,423 | -€8,349 | -85.4% |
| Operating profit (loss) | 9901 | -€9,316 | -€17,648 | -€8,332 | -89.4% |
| Financial charges | 65/66B | €67 | €72 | +€5 | +7.4% |
| Recurring financial charges | 65 | €67 | €72 | +€5 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,383 | -€17,721 | -€8,337 | -88.8% |
| Transfer from deferred taxes | 780 | €3,538 | €3,538 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€5,845 | -€14,182 | -€8,337 | -143% |
| Transfer from tax-exempt reserves | 789 | €6,872 | €6,872 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,027 | -€7,310 | -€8,337 |
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 23 October 2026 via checked.be.