HABOREX: 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
HABOREX
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€421,928
2024 · €792,303-€370,374
Equity
€1.3m
2024 · €924,796+€421,928
Cash
€112,877
2024 · €122,508-€9,631
Balance sheet total
€1.9m
2024 · €1.5m+€422,145
Largest movements
Assets
- Current investments +€342,245
up €342,245 (+42.4%), from €807,534 to €1.1m
- Tangible fixed assets +€90,664
up €90,664 (+18.0%), from €503,594 to €594,258
of which Furniture and vehicles: +€86,450
Equity and liabilities
- Profit (loss) carried forward +€421,928
new in 2025: €421,928
Income statement
- Gross operating margin -€479,617
down €479,617 (-43.1%), from €1.1m to €633,916
- Taxes -€120,464
down €120,464 (-45.3%), from €265,911 to €145,446
- Depreciation +€16,768
up €16,768 (+35.8%), from €46,870 to €63,638
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
€792,303
Gross operating margin
-€479,617
Depreciation
-€16,768
Other operating charges
-€599
Financial income
+€2,962
Financial charges
+€3,183
Taxes
+€120,464
Result 2025
€421,928
Cash bridge derived
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
+€502,388
Investment
-€496,548
Financing
-€15,471
Cash 2024
€122,508
From operations (derived)
+€502,388
Net result for the year
+€421,928
Depreciation
+€63,638
Smaller working-capital items
+€1,134
Trade debts
+€5,727
Tax, wage and social debts
+€6,881
Other debts
+€3,080
Investment (derived)
-€496,548
Investment in fixed assets (net)
-€154,302
Current investments
-€342,245
Financing
-€15,471
Debts after one year
-€16,018
Current portion of long-term debt
+€547
Cash 2025
€112,877
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,468,297 | €1,890,442 | +€422,145 | +28.8% |
| Fixed assets | 21/28 | €503,594 | €594,258 | +€90,664 | +18.0% |
| Tangible fixed assets | 22/27 | €503,594 | €594,258 | +€90,664 | +18.0% |
| Land and buildings | 22 | €382,382 | €387,220 | +€4,838 | +1.3% |
| Plant, machinery and equipment | 23 | €3,043 | €2,420 | -€623 | -20.5% |
| Furniture and vehicles | 24 | €118,169 | €204,619 | +€86,450 | +73.2% |
| Current assets | 29/58 | €964,703 | €1,296,183 | +€331,480 | +34.4% |
| Amounts receivable within one year | 40/41 | €33,510 | €32,670 | -€840 | -2.5% |
| Trade receivables | 40 | €32,670 | €32,670 | = | 0.0% |
| Other amounts receivable | 41 | €840 | - | -€840 | |
| Current investments | 50/53 | €807,534 | €1,149,780 | +€342,245 | +42.4% |
| Cash at bank and in hand | 54/58 | €122,508 | €112,877 | -€9,631 | -7.9% |
| Deferred charges and accrued income | 490/1 | €1,151 | €857 | -€294 | -25.6% |
| Total equity and liabilities | 10/49 | €1,468,297 | €1,890,442 | +€422,145 | +28.8% |
| Equity | 10/15 | €924,796 | €1,346,724 | +€421,928 | +45.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €844,796 | €844,796 | = | 0.0% |
| Distributable reserves | 133 | €844,796 | €844,796 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €421,928 | +€421,928 | |
| Amounts payable | 17/49 | €543,501 | €543,718 | +€216 | 0.0% |
| Amounts payable after more than one year | 17 | €236,336 | €220,318 | -€16,018 | -6.8% |
| Financial debts | 170/4 | €236,336 | €220,318 | -€16,018 | -6.8% |
| Amounts payable within one year | 42/48 | €307,165 | €323,399 | +€16,234 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €14,246 | €14,792 | +€547 | +3.8% |
| Trade debts | 44 | €7,022 | €12,748 | +€5,727 | +81.6% |
| Suppliers | 440/4 | €7,022 | €12,748 | +€5,727 | +81.6% |
| Taxes, remuneration and social security | 45 | €283,899 | €290,780 | +€6,881 | +2.4% |
| Taxes | 450/3 | €279,571 | €286,578 | +€7,006 | +2.5% |
| Remuneration and social security | 454/9 | €4,327 | €4,202 | -€125 | -2.9% |
| Other amounts payable | 47/48 | €1,999 | €5,079 | +€3,080 | +154.1% |
| Non-recurring operating income | 76A | - | €2,939 | +€2,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,870 | €63,638 | +€16,768 | +35.8% |
| Other operating charges | 640/8 | €3,838 | €4,437 | +€599 | +15.6% |
| Gross operating margin | 9900 | €1,113,533 | €633,916 | -€479,617 | -43.1% |
| Operating profit (loss) | 9901 | €1,062,824 | €565,840 | -€496,984 | -46.8% |
| Financial income | 75/76B | €7,576 | €10,538 | +€2,962 | +39.1% |
| Recurring financial income | 75 | €131 | €10,515 | +€10,383 | +7904.0% |
| Non-recurring financial income | 76B | €7,444 | €23 | -€7,422 | -99.7% |
| Financial charges | 65/66B | €12,186 | €9,003 | -€3,183 | -26.1% |
| Recurring financial charges | 65 | €12,186 | €8,865 | -€3,321 | -27.3% |
| Non-recurring financial charges | 66B | - | €138 | +€138 | |
| Profit (loss) for the period before taxes | 9903 | €1,058,214 | €567,375 | -€490,839 | -46.4% |
| Income taxes | 67/77 | €265,911 | €145,446 | -€120,464 | -45.3% |
| Profit (loss) for the period | 9904 | €792,303 | €421,928 | -€370,374 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €792,303 | €421,928 | -€370,374 | -46.7% |
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 9 October 2026 via checked.be.