D'HONDT C.: 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.
D'HONDT C.
Largest movements
- Stocks and contracts -€47,146
down €47,146 (-26.8%), from €175,793 to €128,647
- Cash +€18,921
up €18,921 (+20.9%), from €90,470 to €109,391
mainly Stocks and contracts (+€47,146) and Other debts (+€17,401)
- Receivables within one year -€13,036
down €13,036 (-7.5%), from €174,831 to €161,795
of which Trade receivables: -€11,184
- Trade debts -€50,268
down €50,268 (-31.0%), from €162,102 to €111,834
- Other debts +€17,401
up €17,401 (+33.2%), from €52,335 to €69,736
- Profit (loss) carried forward -€7,969
down €7,969 (-12.4%), from €64,038 to €56,069
- Gross operating margin -€6,710
down €6,710 (-15.6%), from €43,106 to €36,396
- Financial charges +€3,991
up €3,991 (+1,690%), from €236 to €4,227
- Taxes -€1,001
no longer reported in 2025 (was €1,001)
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 | €452,753 | €410,188 | -€42,565 | -9.4% |
| Fixed assets | 21/28 | €11,120 | €8,075 | -€3,045 | -27.4% |
| Tangible fixed assets | 22/27 | €10,570 | €7,525 | -€3,045 | -28.8% |
| Land and buildings | 22 | €3,658 | €3,322 | -€336 | -9.2% |
| Plant, machinery and equipment | 23 | €6,912 | €4,204 | -€2,708 | -39.2% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €441,634 | €402,113 | -€39,520 | -8.9% |
| Stocks and contracts in progress | 3 | €175,793 | €128,647 | -€47,146 | -26.8% |
| Stocks | 30/36 | €175,793 | €128,647 | -€47,146 | -26.8% |
| Amounts receivable within one year | 40/41 | €174,831 | €161,795 | -€13,036 | -7.5% |
| Trade receivables | 40 | €167,980 | €156,796 | -€11,184 | -6.7% |
| Other amounts receivable | 41 | €6,850 | €4,999 | -€1,851 | -27.0% |
| Cash at bank and in hand | 54/58 | €90,470 | €109,391 | +€18,921 | +20.9% |
| Deferred charges and accrued income | 490/1 | €540 | €2,280 | +€1,740 | +322% |
| Total equity and liabilities | 10/49 | €452,753 | €410,188 | -€42,565 | -9.4% |
| Equity | 10/15 | €189,462 | €181,494 | -€7,969 | -4.2% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Contributions outside capital | 11 | €120,000 | €120,000 | = | 0.0% |
| Other | 1109/19 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €5,425 | €5,425 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,425 | €5,425 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,425 | €5,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,038 | €56,069 | -€7,969 | -12.4% |
| Amounts payable | 17/49 | €263,291 | €228,695 | -€34,596 | -13.1% |
| Amounts payable within one year | 42/48 | €263,291 | €228,695 | -€34,596 | -13.1% |
| Trade debts | 44 | €162,102 | €111,834 | -€50,268 | -31.0% |
| Suppliers | 440/4 | €162,102 | €111,834 | -€50,268 | -31.0% |
| Advances received on contracts in progress | 46 | €31,993 | €31,993 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €16,861 | €15,132 | -€1,728 | -10.3% |
| Taxes | 450/3 | €14,122 | €12,524 | -€1,598 | -11.3% |
| Remuneration and social security | 454/9 | €2,739 | €2,609 | -€130 | -4.8% |
| Other amounts payable | 47/48 | €52,335 | €69,736 | +€17,401 | +33.2% |
| Remuneration, social security and pensions | 62 | €35,712 | €36,069 | +€358 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,990 | €3,045 | +€55 | +1.8% |
| Other operating charges | 640/8 | €500 | €426 | -€74 | -14.8% |
| Gross operating margin | 9900 | €43,106 | €36,396 | -€6,710 | -15.6% |
| Operating profit (loss) | 9901 | €3,905 | -€3,144 | -€7,049 | |
| Financial income | 75/76B | €318 | €235 | -€83 | -26.1% |
| Recurring financial income | 75 | €318 | €235 | -€83 | -26.1% |
| Financial charges | 65/66B | €236 | €4,227 | +€3,991 | +1,690% |
| Recurring financial charges | 65 | €236 | €4,227 | +€3,991 | +1,690% |
| Profit (loss) for the period before taxes | 9903 | €3,987 | -€7,136 | -€11,123 | |
| Income taxes | 67/77 | €1,001 | - | -€1,001 | |
| Profit (loss) for the period | 9904 | €2,986 | -€7,136 | -€10,122 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,986 | -€7,136 | -€10,122 |
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 1 November 2026 via checked.be.