'T HOOFD: what changed
Two fiscal 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 HOOFD
Largest movements
- Receivables within one year +€418,703
up €418,703 (+49.3%), from €849,373 to €1.3m
of which Other amounts receivable: +€453,288
- Tangible fixed assets +€26,275
up €26,275 (+2.6%), from €1.0m to €1.0m
- Other debts +€1.0m
new in 2025: €1.0m
- Profit (loss) carried forward -€609,823
down €609,823 (-65.7%), from €928,128 to €318,305
- Trade debts +€31,695
up €31,695 (+398.8%), from €7,947 to €39,642
- Gross operating margin +€52,495
up €52,495 (+9.8%), from €534,272 to €586,768
- Taxes +€14,720
up €14,720 (+11.8%), from €124,373 to €139,092
- Financial income +€6,561
up €6,561 (+21.5%), from €30,489 to €37,049
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.
Cash bridge derived
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 | €1,853,820 | €2,296,227 | +€442,408 | +23.9% |
| Fixed assets | 21/28 | €1,001,320 | €1,027,596 | +€26,275 | +2.6% |
| Tangible fixed assets | 22/27 | €1,001,320 | €1,027,596 | +€26,275 | +2.6% |
| Land and buildings | 22 | €1,001,320 | €1,027,596 | +€26,275 | +2.6% |
| Current assets | 29/58 | €852,500 | €1,268,632 | +€416,132 | +48.8% |
| Amounts receivable within one year | 40/41 | €849,373 | €1,268,076 | +€418,703 | +49.3% |
| Trade receivables | 40 | €34,585 | - | -€34,585 | |
| Other amounts receivable | 41 | €814,788 | €1,268,076 | +€453,288 | +55.6% |
| Cash at bank and in hand | 54/58 | €3,126 | €555 | -€2,571 | -82.2% |
| Total equity and liabilities | 10/49 | €1,853,820 | €2,296,227 | +€442,408 | +23.9% |
| Equity | 10/15 | €1,845,873 | €1,256,586 | -€589,287 | -31.9% |
| Contributions | 10/11 | €868,865 | €868,865 | = | 0.0% |
| Capital | 10 | €868,429 | €868,429 | = | 0.0% |
| Issued capital | 100 | €868,429 | €868,429 | = | 0.0% |
| Outside capital | 11 | €436 | €436 | = | 0.0% |
| Share premium | 1100/10 | €436 | €436 | = | 0.0% |
| Reserves | 13 | €48,880 | €69,415 | +€20,536 | +42.0% |
| Non-distributable reserves | 130/1 | €48,855 | €69,391 | +€20,536 | +42.0% |
| Legal reserve | 130 | €48,855 | €69,391 | +€20,536 | +42.0% |
| Tax-exempt reserves | 132 | €22 | €22 | = | 0.0% |
| Distributable reserves | 133 | €2 | €2 | = | 0.0% |
| Profit (loss) carried forward | 14 | €928,128 | €318,305 | -€609,823 | -65.7% |
| Amounts payable | 17/49 | €7,947 | €1,039,642 | +€1.0m | +12982.4% |
| Amounts payable within one year | 42/48 | €7,947 | €1,039,642 | +€1.0m | +12982.4% |
| Trade debts | 44 | €7,947 | €39,642 | +€31,695 | +398.8% |
| Suppliers | 440/4 | €7,947 | €39,642 | +€31,695 | +398.8% |
| Other amounts payable | 47/48 | - | €1,000,000 | +€1.0m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,874 | €37,042 | +€1,168 | +3.3% |
| Other operating charges | 640/8 | €35,679 | €36,797 | +€1,118 | +3.1% |
| Gross operating margin | 9900 | €534,272 | €586,768 | +€52,495 | +9.8% |
| Operating profit (loss) | 9901 | €462,719 | €512,929 | +€50,209 | +10.9% |
| Financial income | 75/76B | €30,489 | €37,049 | +€6,561 | +21.5% |
| Recurring financial income | 75 | €30,489 | €37,049 | +€6,561 | +21.5% |
| Financial charges | 65/66B | €283 | €173 | -€110 | -38.9% |
| Recurring financial charges | 65 | €283 | €173 | -€110 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €492,925 | €549,805 | +€56,880 | +11.5% |
| Income taxes | 67/77 | €124,373 | €139,092 | +€14,720 | +11.8% |
| Profit (loss) for the period | 9904 | €368,552 | €410,713 | +€42,161 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €368,552 | €410,713 | +€42,161 | +11.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.