HOGEMA: 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.
HOGEMA
Largest movements
- Receivables within one year -€153,612
down €153,612 (-87.5%), from €175,641 to €22,030
of which Other amounts receivable: -€143,889
- Contributions -€140,000
down €140,000 (-3.3%), from €4.3m to €4.2m
- Advances received -€89,540
down €89,540 (-100%), from €89,540 to €0
- Staff costs -€36,016
down €36,016, from €34,804 to -€1,212
- Taxes +€6,999
up €6,999 (+648%), from €1,080 to €8,079
- Financial income -€3,847
down €3,847 (-49.7%), from €7,732 to €3,886
- Gross operating margin -€3,574
down €3,574 (-10.8%), from €32,993 to €29,419
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 | €4,540,060 | €4,346,870 | -€193,189 | -4.3% |
| Fixed assets | 21/28 | €4,302,000 | €4,302,000 | = | 0.0% |
| Financial fixed assets | 28 | €4,302,000 | €4,302,000 | = | 0.0% |
| Current assets | 29/58 | €238,060 | €44,870 | -€193,189 | -81.2% |
| Amounts receivable within one year | 40/41 | €175,641 | €22,030 | -€153,612 | -87.5% |
| Trade receivables | 40 | €31,503 | €21,780 | -€9,723 | -30.9% |
| Other amounts receivable | 41 | €144,138 | €250 | -€143,889 | -99.8% |
| Cash at bank and in hand | 54/58 | €44,154 | €22,397 | -€21,758 | -49.3% |
| Deferred charges and accrued income | 490/1 | €18,264 | €444 | -€17,820 | -97.6% |
| Total equity and liabilities | 10/49 | €4,540,060 | €4,346,870 | -€193,189 | -4.3% |
| Equity | 10/15 | €4,435,129 | €4,319,897 | -€115,231 | -2.6% |
| Contributions | 10/11 | €4,302,000 | €4,162,000 | -€140,000 | -3.3% |
| Reserves | 13 | €133,129 | €157,897 | +€24,769 | +18.6% |
| Distributable reserves | 133 | €133,129 | €157,897 | +€24,769 | +18.6% |
| Amounts payable | 17/49 | €104,931 | €26,973 | -€77,958 | -74.3% |
| Amounts payable within one year | 42/48 | €104,456 | €26,973 | -€77,483 | -74.2% |
| Trade debts | 44 | €100 | €180 | +€80 | +80.3% |
| Suppliers | 440/4 | €100 | €180 | +€80 | +80.3% |
| Advances received on contracts in progress | 46 | €89,540 | €0 | -€89,540 | -100% |
| Taxes, remuneration and social security | 45 | €80 | €7,870 | +€7,790 | +9,731% |
| Taxes | 450/3 | €80 | €7,870 | +€7,790 | +9,731% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €14,736 | €18,923 | +€4,187 | +28.4% |
| Accrued charges and deferred income | 492/3 | €475 | €0 | -€475 | -100% |
| Remuneration, social security and pensions | 62 | €34,804 | -€1,212 | -€36,016 | |
| Other operating charges | 640/8 | €1,130 | €1,060 | -€69 | -6.1% |
| Gross operating margin | 9900 | €32,993 | €29,419 | -€3,574 | -10.8% |
| Operating profit (loss) | 9901 | -€2,940 | €29,571 | +€32,511 | |
| Financial income | 75/76B | €7,732 | €3,886 | -€3,847 | -49.7% |
| Recurring financial income | 75 | €7,732 | €3,886 | -€3,847 | -49.7% |
| Financial charges | 65/66B | €586 | €609 | +€23 | +4.0% |
| Recurring financial charges | 65 | €586 | €609 | +€23 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €4,206 | €32,848 | +€28,642 | +681% |
| Income taxes | 67/77 | €1,080 | €8,079 | +€6,999 | +648% |
| Profit (loss) for the period | 9904 | €3,126 | €24,769 | +€21,643 | +692% |
| Profit (loss) for the period to be appropriated | 9905 | €3,126 | €24,769 | +€21,643 | +692% |
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 24 October 2026 via checked.be.