TANDARTS TOM HOEBEKE: 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.
TANDARTS TOM HOEBEKE
Largest movements
- Tangible fixed assets +€123,173
up €123,173 (+209%), from €58,805 to €181,978
of which Plant, machinery and equipment: +€83,057
- Current investments -€91,999
down €91,999 (-7.4%), from €1.2m to €1.1m
- Receivables within one year +€77,317
up €77,317 (+135%), from €57,161 to €134,478
of which Other amounts receivable: +€69,150
- Cash -€29,269
down €29,269 (-20.1%), from €145,265 to €115,995
mainly Investment in fixed assets (net) (-€147,455) and Contributions, distributions and other (-€81,730)
- Trade debts +€36,058
up €36,058 (+792%), from €4,556 to €40,613
- Reserves +€19,319
up €19,319 (+1.4%), from €1.4m to €1.4m
- Gross operating margin -€376,183
down €376,183 (-73.6%), from €511,102 to €134,919
- Taxes -€121,713
down €121,713 (-80.8%), from €150,668 to €28,954
- Financial income +€46,922
up €46,922 (+461%), from €10,171 to €57,093
- Staff costs +€17,050
up €17,050 (+113%), from €15,126 to €32,176
- Depreciation +€10,346
up €10,346 (+74.2%), from €13,936 to €24,282
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 | €1,504,724 | €1,583,985 | +€79,260 | +5.3% |
| Fixed assets | 21/28 | €58,805 | €181,978 | +€123,173 | +209% |
| Tangible fixed assets | 22/27 | €58,805 | €181,978 | +€123,173 | +209% |
| Plant, machinery and equipment | 23 | €28,334 | €111,391 | +€83,057 | +293% |
| Furniture and vehicles | 24 | €13,964 | €19,374 | +€5,410 | +38.7% |
| Other tangible fixed assets | 26 | €16,507 | €51,213 | +€34,706 | +210% |
| Current assets | 29/58 | €1,445,919 | €1,402,006 | -€43,913 | -3.0% |
| Amounts receivable within one year | 40/41 | €57,161 | €134,478 | +€77,317 | +135% |
| Trade receivables | 40 | - | €8,167 | +€8,167 | |
| Other amounts receivable | 41 | €57,161 | €126,311 | +€69,150 | +121% |
| Current investments | 50/53 | €1,236,491 | €1,144,492 | -€91,999 | -7.4% |
| Cash at bank and in hand | 54/58 | €145,265 | €115,995 | -€29,269 | -20.1% |
| Deferred charges and accrued income | 490/1 | €7,002 | €7,041 | +€38 | +0.5% |
| Total equity and liabilities | 10/49 | €1,504,724 | €1,583,985 | +€79,260 | +5.3% |
| Equity | 10/15 | €1,372,213 | €1,391,532 | +€19,319 | +1.4% |
| Reserves | 13 | €1,372,213 | €1,391,532 | +€19,319 | +1.4% |
| Distributable reserves | 133 | €1,372,213 | €1,391,532 | +€19,319 | +1.4% |
| Amounts payable | 17/49 | €132,512 | €192,453 | +€59,941 | +45.2% |
| Amounts payable after more than one year | 17 | €70,423 | €74,931 | +€4,508 | +6.4% |
| Financial debts | 170/4 | €70,423 | €74,931 | +€4,508 | +6.4% |
| Amounts payable within one year | 42/48 | €62,089 | €117,522 | +€55,433 | +89.3% |
| Current portion of amounts payable after more than one year | 42 | €16,901 | €30,384 | +€13,482 | +79.8% |
| Trade debts | 44 | €4,556 | €40,613 | +€36,058 | +792% |
| Suppliers | 440/4 | €4,556 | €40,613 | +€36,058 | +792% |
| Taxes, remuneration and social security | 45 | €40,632 | €46,525 | +€5,893 | +14.5% |
| Taxes | 450/3 | €38,762 | €42,384 | +€3,621 | +9.3% |
| Remuneration and social security | 454/9 | €1,870 | €4,142 | +€2,272 | +121% |
| Non-recurring operating income | 76A | €410,856 | - | -€410,856 | |
| Remuneration, social security and pensions | 62 | €15,126 | €32,176 | +€17,050 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,936 | €24,282 | +€10,346 | +74.2% |
| Other operating charges | 640/8 | €1,993 | €1,619 | -€375 | -18.8% |
| Non-recurring operating charges | 66A | €8,526 | - | -€8,526 | |
| Gross operating margin | 9900 | €511,102 | €134,919 | -€376,183 | -73.6% |
| Operating profit (loss) | 9901 | €471,520 | €76,842 | -€394,678 | -83.7% |
| Financial income | 75/76B | €10,171 | €57,093 | +€46,922 | +461% |
| Recurring financial income | 75 | €10,171 | €57,093 | +€46,922 | +461% |
| Financial charges | 65/66B | €8,237 | €3,932 | -€4,305 | -52.3% |
| Recurring financial charges | 65 | €8,237 | €3,932 | -€4,305 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €473,455 | €130,004 | -€343,451 | -72.5% |
| Income taxes | 67/77 | €150,668 | €28,954 | -€121,713 | -80.8% |
| Profit (loss) for the period | 9904 | €322,787 | €101,049 | -€221,737 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €322,787 | €101,049 | -€221,737 | -68.7% |
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 28 October 2026 via checked.be.