FINHOUBEL: 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.
FINHOUBEL
Largest movements
- Cash +€319,467
up €319,467 (+5,618%), from €5,686 to €325,153
mainly Short-term financial debts (+€255,000) and Current investments (+€137,295)
- Current investments -€137,295
down €137,295 (-13.7%), from €998,878 to €861,583
- Receivables within one year +€84,508
up €84,508 (+15.3%), from €551,837 to €636,345
of which Other amounts receivable: +€77,273
- Short-term financial debts +€255,000
up €255,000 (+146%), from €175,000 to €430,000
- Debts after one year -€36,078
down €36,078 (-12.6%), from €285,786 to €249,708
- Profit (loss) carried forward +€35,368
up €35,368 (+11.5%), from -€306,901 to -€271,533
- Gross operating margin +€43,593
up €43,593 (+66.1%), from €65,938 to €109,531
- Financial charges +€11,364
up €11,364 (+15.2%), from €74,554 to €85,918
- Other operating charges +€2,525
up €2,525 (+24.5%), from €10,312 to €12,837
- Depreciation +€1,292
up €1,292 (+1.6%), from €79,989 to €81,281
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 | €2,336,769 | €2,584,435 | +€247,666 | +10.6% |
| Fixed assets | 21/28 | €772,687 | €754,135 | -€18,552 | -2.4% |
| Tangible fixed assets | 22/27 | €772,687 | €754,135 | -€18,552 | -2.4% |
| Land and buildings | 22 | €736,368 | €731,098 | -€5,270 | -0.7% |
| Plant, machinery and equipment | 23 | €13,021 | €7,747 | -€5,274 | -40.5% |
| Furniture and vehicles | 24 | €23,298 | €15,291 | -€8,008 | -34.4% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €1,564,082 | €1,830,300 | +€266,218 | +17.0% |
| Amounts receivable within one year | 40/41 | €551,837 | €636,345 | +€84,508 | +15.3% |
| Trade receivables | 40 | €24,992 | €32,226 | +€7,234 | +28.9% |
| Other amounts receivable | 41 | €526,845 | €604,118 | +€77,273 | +14.7% |
| Current investments | 50/53 | €998,878 | €861,583 | -€137,295 | -13.7% |
| Cash at bank and in hand | 54/58 | €5,686 | €325,153 | +€319,467 | +5,618% |
| Deferred charges and accrued income | 490/1 | €7,681 | €7,219 | -€462 | -6.0% |
| Total equity and liabilities | 10/49 | €2,336,769 | €2,584,435 | +€247,666 | +10.6% |
| Equity | 10/15 | €1,757,657 | €1,793,025 | +€35,368 | +2.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,989,558 | €1,989,558 | = | 0.0% |
| Non-distributable reserves | 130/1 | €31,826 | €31,826 | = | 0.0% |
| Legal reserve | 130 | €31,826 | €31,826 | = | 0.0% |
| Distributable reserves | 133 | €1,957,732 | €1,957,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€306,901 | -€271,533 | +€35,368 | +11.5% |
| Amounts payable | 17/49 | €579,112 | €791,410 | +€212,298 | +36.7% |
| Amounts payable after more than one year | 17 | €285,786 | €249,708 | -€36,078 | -12.6% |
| Financial debts | 170/4 | €285,786 | €249,708 | -€36,078 | -12.6% |
| Amounts payable within one year | 42/48 | €293,326 | €541,701 | +€248,376 | +84.7% |
| Current portion of amounts payable after more than one year | 42 | €35,191 | €36,078 | +€886 | +2.5% |
| Financial debts | 43 | €175,000 | €430,000 | +€255,000 | +146% |
| Credit institutions | 430/8 | €175,000 | €430,000 | +€255,000 | +146% |
| Trade debts | 44 | €29,413 | €25,973 | -€3,440 | -11.7% |
| Suppliers | 440/4 | €29,413 | €25,973 | -€3,440 | -11.7% |
| Taxes, remuneration and social security | 45 | €14,324 | €10,253 | -€4,071 | -28.4% |
| Taxes | 450/3 | €14,324 | €10,253 | -€4,071 | -28.4% |
| Other amounts payable | 47/48 | €39,398 | €39,398 | = | 0.0% |
| Non-recurring operating income | 76A | €1,250 | €3,032 | +€1,782 | +143% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,989 | €81,281 | +€1,292 | +1.6% |
| Other operating charges | 640/8 | €10,312 | €12,837 | +€2,525 | +24.5% |
| Non-recurring operating charges | 66A | €42,720 | €0 | -€42,720 | -100% |
| Gross operating margin | 9900 | €65,938 | €109,531 | +€43,593 | +66.1% |
| Operating profit (loss) | 9901 | -€67,083 | €15,413 | +€82,496 | |
| Financial income | 75/76B | €106,282 | €106,702 | +€420 | +0.4% |
| Recurring financial income | 75 | €106,282 | €106,702 | +€420 | +0.4% |
| Financial charges | 65/66B | €74,554 | €85,918 | +€11,364 | +15.2% |
| Recurring financial charges | 65 | €74,554 | €85,918 | +€11,364 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,355 | €36,198 | +€71,553 | |
| Income taxes | 67/77 | €845 | €830 | -€15 | -1.8% |
| Profit (loss) for the period | 9904 | -€36,200 | €35,368 | +€71,568 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,200 | €35,368 | +€71,568 |
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 25 October 2026 via checked.be.