Ten Hove: what changed
What changed
Ten Hove
filed annual accounts (NBB)
Net result for the year
€52,817
2024 · €10,366+€42,451
Equity
€453,187
2024 · €527,302-€74,116
Cash
€44,922
2024 · €39,036+€5,886
Balance sheet total
€468,138
2024 · €539,027-€70,890
Largest movements
Assets
- Current investments -€77,840
down €77,840 (-22.4%), from €346,744 to €268,904
- Cash +€5,886
up €5,886 (+15.1%), from €39,036 to €44,922
mainly Current investments (+€77,840) and Net result for the year (+€52,817)
Equity and liabilities
- Reserves -€74,116
down €74,116 (-49.3%), from €150,442 to €76,327
of which Distributable reserves: -€72,942
Income statement
- Gross operating margin +€61,489
up €61,489 (+282%), from €21,826 to €83,315
- Taxes +€19,356
up €19,356 (+365%), from €5,303 to €24,660
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€10,366
Gross operating margin
+€61,489
Other operating charges
-€414
Financial charges
+€733
Taxes
-€19,356
Result 2025
€52,817
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€54,979
Investment
+€77,840
Financing
-€126,933
Cash 2024
€39,036
From operations (derived)
+€54,979
Net result for the year
+€52,817
Receivables within one year
-€1,291
Smaller working-capital items
+€228
Trade debts
+€817
Tax, wage and social debts
+€4,660
Other debts
-€2,252
Investment (derived)
+€77,840
Current investments
+€77,840
Financing
-€126,933
Contributions, distributions and other
-€126,933
Cash 2025
€44,922
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €539,027 | €468,138 | -€70,890 | -13.2% |
| Fixed assets | 21/28 | €152,312 | €152,312 | = | 0.0% |
| Tangible fixed assets | 22/27 | €152,312 | €152,312 | = | 0.0% |
| Land and buildings | 22 | €152,312 | €152,312 | = | 0.0% |
| Current assets | 29/58 | €386,716 | €315,826 | -€70,890 | -18.3% |
| Amounts receivable within one year | 40/41 | €204 | €1,495 | +€1,291 | +633% |
| Trade receivables | 40 | €204 | €592 | +€388 | +190% |
| Other amounts receivable | 41 | - | €903 | +€903 | |
| Current investments | 50/53 | €346,744 | €268,904 | -€77,840 | -22.4% |
| Cash at bank and in hand | 54/58 | €39,036 | €44,922 | +€5,886 | +15.1% |
| Deferred charges and accrued income | 490/1 | €732 | €505 | -€227 | -31.0% |
| Total equity and liabilities | 10/49 | €539,027 | €468,138 | -€70,890 | -13.2% |
| Equity | 10/15 | €527,302 | €453,187 | -€74,116 | -14.1% |
| Contributions | 10/11 | €376,860 | €376,860 | = | 0.0% |
| Capital | 10 | €376,860 | €376,860 | = | 0.0% |
| Issued capital | 100 | €376,860 | €376,860 | = | 0.0% |
| Reserves | 13 | €150,442 | €76,327 | -€74,116 | -49.3% |
| Non-distributable reserves | 130/1 | €14,549 | €13,376 | -€1,174 | -8.1% |
| Legal reserve | 130 | €14,549 | €13,376 | -€1,174 | -8.1% |
| Distributable reserves | 133 | €135,893 | €62,951 | -€72,942 | -53.7% |
| Amounts payable | 17/49 | €11,725 | €14,951 | +€3,226 | +27.5% |
| Amounts payable within one year | 42/48 | €10,159 | €13,384 | +€3,225 | +31.7% |
| Trade debts | 44 | €845 | €1,662 | +€817 | +96.7% |
| Suppliers | 440/4 | €845 | €1,662 | +€817 | +96.7% |
| Taxes, remuneration and social security | 45 | €5,303 | €9,963 | +€4,660 | +87.9% |
| Taxes | 450/3 | €5,303 | €9,963 | +€4,660 | +87.9% |
| Other amounts payable | 47/48 | €4,011 | €1,759 | -€2,252 | -56.1% |
| Accrued charges and deferred income | 492/3 | €1,566 | €1,567 | +€1 | +0.1% |
| Non-recurring operating income | 76A | €21,655 | €78,584 | +€56,929 | +263% |
| Other operating charges | 640/8 | €5,049 | €5,463 | +€414 | +8.2% |
| Gross operating margin | 9900 | €21,826 | €83,315 | +€61,489 | +282% |
| Operating profit (loss) | 9901 | €16,777 | €77,852 | +€61,074 | +364% |
| Financial charges | 65/66B | €1,108 | €375 | -€733 | -66.1% |
| Recurring financial charges | 65 | €1,108 | €375 | -€733 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | €15,670 | €77,477 | +€61,807 | +394% |
| Income taxes | 67/77 | €5,303 | €24,660 | +€19,356 | +365% |
| Profit (loss) for the period | 9904 | €10,366 | €52,817 | +€42,451 | +410% |
| Profit (loss) for the period to be appropriated | 9905 | €10,366 | €52,817 | +€42,451 | +410% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.