HABO MANAGEMENT: what changed
HABO MANAGEMENT
Largest movements
- Current investments +€300,000
up €300,000, from €0 to €300,000
- Cash -€229,279
down €229,279 (-50.9%), from €450,121 to €220,842
mainly Current investments (-€300,000) and Investment in fixed assets (net) (-€30,710)
- Tangible fixed assets -€50,942
down €50,942 (-3.8%), from €1.3m to €1.3m
of which Land and buildings: -€29,256
- Reserves +€30,369
up €30,369 (+7.2%), from €419,377 to €449,746
- Other debts -€28,658
down €28,658 (-10.0%), from €285,708 to €257,050
- Trade debts +€28,023
up €28,023 (+952%), from €2,945 to €30,968
- Debts after one year -€21,749
down €21,749 (-3.4%), from €630,638 to €608,889
- Depreciation +€22,090
up €22,090 (+37.1%), from €59,562 to €81,652
- Gross operating margin -€14,218
down €14,218 (-7.4%), from €191,615 to €177,397
- Taxes -€7,393
down €7,393 (-36.4%), from €20,336 to €12,943
- Financial income -€3,780
down €3,780 (-40.4%), from €9,351 to €5,570
- Financial charges -€2,578
down €2,578 (-4.6%), from €56,026 to €53,448
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,831,806 | €1,844,295 | +€12,490 | +0.7% |
| Fixed assets | 21/28 | €1,344,359 | €1,293,416 | -€50,942 | -3.8% |
| Tangible fixed assets | 22/27 | €1,344,359 | €1,293,416 | -€50,942 | -3.8% |
| Land and buildings | 22 | €1,236,551 | €1,207,295 | -€29,256 | -2.4% |
| Plant, machinery and equipment | 23 | €13,167 | €11,006 | -€2,161 | -16.4% |
| Furniture and vehicles | 24 | €94,641 | €75,115 | -€19,525 | -20.6% |
| Current assets | 29/58 | €487,447 | €550,879 | +€63,432 | +13.0% |
| Amounts receivable within one year | 40/41 | €20,579 | €10,260 | -€10,318 | -50.1% |
| Trade receivables | 40 | €20,579 | €8,760 | -€11,818 | -57.4% |
| Other amounts receivable | 41 | - | €1,500 | +€1,500 | |
| Current investments | 50/53 | €0 | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €450,121 | €220,842 | -€229,279 | -50.9% |
| Deferred charges and accrued income | 490/1 | €16,747 | €19,777 | +€3,030 | +18.1% |
| Total equity and liabilities | 10/49 | €1,831,806 | €1,844,295 | +€12,490 | +0.7% |
| Equity | 10/15 | €876,577 | €906,946 | +€30,369 | +3.5% |
| Contributions | 10/11 | €457,200 | €457,200 | = | 0.0% |
| Reserves | 13 | €419,377 | €449,746 | +€30,369 | +7.2% |
| Distributable reserves | 133 | €419,377 | €449,746 | +€30,369 | +7.2% |
| Amounts payable | 17/49 | €955,228 | €937,349 | -€17,879 | -1.9% |
| Amounts payable after more than one year | 17 | €630,638 | €608,889 | -€21,749 | -3.4% |
| Financial debts | 170/4 | €630,638 | €608,889 | -€21,749 | -3.4% |
| Amounts payable within one year | 42/48 | €324,341 | €328,210 | +€3,870 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €20,996 | €21,749 | +€753 | +3.6% |
| Trade debts | 44 | €2,945 | €30,968 | +€28,023 | +952% |
| Suppliers | 440/4 | €2,945 | €30,968 | +€28,023 | +952% |
| Taxes, remuneration and social security | 45 | €14,692 | €18,444 | +€3,752 | +25.5% |
| Taxes | 450/3 | €14,692 | €18,444 | +€3,752 | +25.5% |
| Other amounts payable | 47/48 | €285,708 | €257,050 | -€28,658 | -10.0% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | €27,000 | €0 | -€27,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,562 | €81,652 | +€22,090 | +37.1% |
| Other operating charges | 640/8 | €4,400 | €4,556 | +€156 | +3.5% |
| Gross operating margin | 9900 | €191,615 | €177,397 | -€14,218 | -7.4% |
| Operating profit (loss) | 9901 | €127,653 | €91,189 | -€36,464 | -28.6% |
| Financial income | 75/76B | €9,351 | €5,570 | -€3,780 | -40.4% |
| Recurring financial income | 75 | €9,351 | €5,570 | -€3,780 | -40.4% |
| Financial charges | 65/66B | €56,026 | €53,448 | -€2,578 | -4.6% |
| Recurring financial charges | 65 | €56,026 | €53,448 | -€2,578 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €80,978 | €43,312 | -€37,666 | -46.5% |
| Income taxes | 67/77 | €20,336 | €12,943 | -€7,393 | -36.4% |
| Profit (loss) for the period | 9904 | €60,642 | €30,369 | -€30,273 | -49.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,642 | €30,369 | -€30,273 | -49.9% |
Next steps
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 6 November 2026 via checked.be.