Den Hondt: 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.
Den Hondt
Largest movements
- Receivables within one year +€108,911
up €108,911 (+276%), from €39,404 to €148,315
of which Trade receivables: +€106,045
- Receivables after one year -€80,949
down €80,949 (-85.2%), from €95,049 to €14,100
- Tangible fixed assets -€26,833
down €26,833 (-97.3%), from €27,581 to €748
of which Furniture and vehicles: -€25,470
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€11,420
down €11,420 (-70.4%), from €16,224 to €4,804
- Depreciation -€5,310
down €5,310 (-79.6%), from €6,673 to €1,363
- Taxes -€2,974
down €2,974 (-95.0%), from €3,130 to €157
- Financial income -€404
down €404 (-35.9%), from €1,127 to €722
- Other operating charges +€219
up €219 (+185%), from €118 to €337
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 | €213,997 | €216,207 | +€2,210 | +1.0% |
| Fixed assets | 21/28 | €27,581 | €748 | -€26,833 | -97.3% |
| Tangible fixed assets | 22/27 | €27,581 | €748 | -€26,833 | -97.3% |
| Land and buildings | 22 | €2,111 | €748 | -€1,363 | -64.6% |
| Furniture and vehicles | 24 | €25,470 | - | -€25,470 | |
| Current assets | 29/58 | €186,416 | €215,459 | +€29,043 | +15.6% |
| Amounts receivable after more than one year | 29 | €95,049 | €14,100 | -€80,949 | -85.2% |
| Other amounts receivable | 291 | €95,049 | €14,100 | -€80,949 | -85.2% |
| Amounts receivable within one year | 40/41 | €39,404 | €148,315 | +€108,911 | +276% |
| Trade receivables | 40 | €19,360 | €125,405 | +€106,045 | +548% |
| Other amounts receivable | 41 | €20,044 | €22,910 | +€2,866 | +14.3% |
| Current investments | 50/53 | €36,038 | €36,038 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,885 | €12,769 | -€116 | -0.9% |
| Deferred charges and accrued income | 490/1 | €3,040 | €4,237 | +€1,197 | +39.4% |
| Total equity and liabilities | 10/49 | €213,997 | €216,207 | +€2,210 | +1.0% |
| Equity | 10/15 | €206,691 | €207,772 | +€1,081 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,230 | €41,230 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €39,370 | €39,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,861 | €147,942 | +€1,081 | +0.7% |
| Amounts payable | 17/49 | €7,306 | €8,435 | +€1,129 | +15.5% |
| Amounts payable within one year | 42/48 | €7,306 | €8,435 | +€1,129 | +15.5% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €7,306 | €8,035 | +€729 | +10.0% |
| Taxes | 450/3 | €7,306 | €8,035 | +€729 | +10.0% |
| Non-recurring operating income | 76A | €5,949 | - | -€5,949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,673 | €1,363 | -€5,310 | -79.6% |
| Other operating charges | 640/8 | €118 | €337 | +€219 | +185% |
| Non-recurring operating charges | 66A | - | €2,470 | +€2,470 | |
| Gross operating margin | 9900 | €16,224 | €4,804 | -€11,420 | -70.4% |
| Operating profit (loss) | 9901 | €9,433 | €634 | -€8,799 | -93.3% |
| Financial income | 75/76B | €1,127 | €722 | -€404 | -35.9% |
| Recurring financial income | 75 | €1,127 | €722 | -€404 | -35.9% |
| Financial charges | 65/66B | €134 | €119 | -€15 | -11.4% |
| Recurring financial charges | 65 | €134 | €119 | -€15 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €10,425 | €1,237 | -€9,188 | -88.1% |
| Income taxes | 67/77 | €3,130 | €157 | -€2,974 | -95.0% |
| Profit (loss) for the period | 9904 | €7,295 | €1,081 | -€6,214 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,295 | €1,081 | -€6,214 | -85.2% |
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 22 October 2026 via checked.be.