HABOMAN: 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.
What changed
HABOMAN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.3m
2024 · €477,385+€3.9m
Equity
€28.2m
2024 · €24.8m+€3.4m
Cash
€398,864
2024 · €228,481+€170,384
Balance sheet total
€29.3m
2024 · €25.3m+€4.0m
Largest movements
Assets
- Financial fixed assets +€2.6m
up €2.6m (+10.9%), from €23.6m to €26.2m
- Receivables after one year +€1.3m
new in 2025: €1.3m
Equity and liabilities
- Reserves +€4.3m
up €4.3m (+277%), from €1.6m to €5.9m
of which Distributable reserves: +€4.3m
- Revaluation surpluses -€958,420
down €958,420 (-4.5%), from €21.1m to €20.1m
- Short-term financial debts +€500,000
new in 2025: €500,000
- Tax, wage and social debts +€384,052
up €384,052 (+304%), from €126,182 to €510,234
of which Taxes: +€382,930
Income statement
- Financial income +€4.3m
up €4.3m (+926%), from €459,935 to €4.7m
of which Financial income: +€3.2m
- Taxes +€391,214
up €391,214 (+511%), from €76,526 to €467,740
- Financial charges +€10,221
up €10,221 (+394%), from €2,596 to €12,817
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.
Result 2024
€477,385
Gross operating margin
+€716
Depreciation
-€142
Other operating charges
-€83
Financial income
+€4.3m
Financial charges
-€10,221
Taxes
-€391,214
Result 2025
€4.3m
raises the resultlowers the result
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.
From operations
+€3.3m
Investment
-€2.6m
Financing
-€479,730
Cash 2024
€228,481
From operations (derived)
+€3.3m
Net result for the year
+€4.3m
Depreciation
+€54,063
Receivables after one year
-€1.3m
Smaller working-capital items
+€503
Deferred charges and accrued income
-€17,482
Tax, wage and social debts
+€384,052
Other debts
-€208,665
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.6m
Current investments
-€61,302
Financing
-€479,730
Debts after one year
-€20,023
Current portion of long-term debt
-€1,287
Short-term financial debts
+€500,000
Contributions, distributions and other
-€958,420
Cash 2025
€398,864
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,253,509 | €29,286,661 | +€4.0m | +16.0% |
| Fixed assets | 21/28 | €23,931,641 | €26,454,427 | +€2.5m | +10.5% |
| Tangible fixed assets | 22/27 | €302,732 | €248,669 | -€54,063 | -17.9% |
| Land and buildings | 22 | €60,242 | €53,633 | -€6,609 | -11.0% |
| Plant, machinery and equipment | 23 | €1,177 | €619 | -€558 | -47.4% |
| Furniture and vehicles | 24 | €68,238 | €45,266 | -€22,972 | -33.7% |
| Other tangible fixed assets | 26 | €173,074 | €149,151 | -€23,924 | -13.8% |
| Financial fixed assets | 28 | €23,628,909 | €26,205,758 | +€2.6m | +10.9% |
| Current assets | 29/58 | €1,321,869 | €2,832,233 | +€1.5m | +114% |
| Amounts receivable after more than one year | 29 | - | €1,260,092 | +€1.3m | |
| Other amounts receivable | 291 | - | €1,260,092 | +€1.3m | |
| Amounts receivable within one year | 40/41 | €3,614 | €4,719 | +€1,105 | +30.6% |
| Trade receivables | 40 | €3,614 | €4,719 | +€1,105 | +30.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €1,081,293 | €1,142,595 | +€61,302 | +5.7% |
| Cash at bank and in hand | 54/58 | €228,481 | €398,864 | +€170,384 | +74.6% |
| Deferred charges and accrued income | 490/1 | €8,481 | €25,963 | +€17,482 | +206% |
| Total equity and liabilities | 10/49 | €25,253,509 | €29,286,661 | +€4.0m | +16.0% |
| Equity | 10/15 | €24,836,736 | €28,214,201 | +€3.4m | +13.6% |
| Contributions | 10/11 | €2,200,000 | €2,200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €21,073,000 | €20,114,580 | -€958,420 | -4.5% |
| Reserves | 13 | €1,563,736 | €5,899,621 | +€4.3m | +277% |
| Tax-exempt reserves | 132 | €758 | €758 | = | 0.0% |
| Distributable reserves | 133 | €1,562,978 | €5,898,863 | +€4.3m | +277% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €416,773 | €1,072,460 | +€655,687 | +157% |
| Amounts payable after more than one year | 17 | €20,023 | €0 | -€20,023 | -100% |
| Financial debts | 170/4 | €20,023 | €0 | -€20,023 | -100% |
| Amounts payable within one year | 42/48 | €396,750 | €1,072,460 | +€675,710 | +170% |
| Current portion of amounts payable after more than one year | 42 | €21,310 | €20,023 | -€1,287 | -6.0% |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €8,195 | €9,804 | +€1,608 | +19.6% |
| Suppliers | 440/4 | €8,195 | €9,804 | +€1,608 | +19.6% |
| Taxes, remuneration and social security | 45 | €126,182 | €510,234 | +€384,052 | +304% |
| Taxes | 450/3 | €114,523 | €497,454 | +€382,930 | +334% |
| Remuneration and social security | 454/9 | €11,658 | €12,780 | +€1,122 | +9.6% |
| Other amounts payable | 47/48 | €241,063 | €32,399 | -€208,665 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,920 | €54,063 | +€142 | +0.3% |
| Other operating charges | 640/8 | €5,014 | €5,097 | +€83 | +1.6% |
| Gross operating margin | 9900 | €155,506 | €156,222 | +€716 | +0.5% |
| Operating profit (loss) | 9901 | €96,571 | €97,062 | +€491 | +0.5% |
| Financial income | 75/76B | €459,935 | €4,719,380 | +€4.3m | +926% |
| Recurring financial income | 75 | €459,935 | €3,700,936 | +€3.2m | +705% |
| Non-recurring financial income | 76B | - | €1,018,444 | +€1.0m | |
| Financial charges | 65/66B | €2,596 | €12,817 | +€10,221 | +394% |
| Recurring financial charges | 65 | €2,596 | €12,817 | +€10,221 | +394% |
| Profit (loss) for the period before taxes | 9903 | €553,911 | €4,803,625 | +€4.2m | +767% |
| Income taxes | 67/77 | €76,526 | €467,740 | +€391,214 | +511% |
| Profit (loss) for the period | 9904 | €477,385 | €4,335,885 | +€3.9m | +808% |
| Profit (loss) for the period to be appropriated | 9905 | €477,385 | €4,335,885 | +€3.9m | +808% |
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 15 October 2026 via checked.be.