HANDELSHUIS: 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.
HANDELSHUIS
Largest movements
- Cash -€30,988
down €30,988 (-16.4%), from €188,749 to €157,761
mainly Contributions, distributions and other (-€255,200) and Debts after one year (-€19,480)
- Tangible fixed assets -€24,905
down €24,905 (-10.0%), from €248,872 to €223,968
of which Plant, machinery and equipment: -€13,166
- Current investments +€10,000
up €10,000 (+10.0%), from €100,000 to €110,000
- Reserves -€187,865
down €187,865 (-99.8%), from €188,327 to €462
- Other debts +€172,170
up €172,170 (+1,451%), from €11,866 to €184,036
- Debts after one year -€19,480
down €19,480 (-8.6%), from €226,055 to €206,576
- Tax, wage and social debts -€14,852
down €14,852 (-54.6%), from €27,203 to €12,350
of which Taxes: -€20,122
- Gross operating margin -€20,552
down €20,552 (-13.6%), from €151,311 to €130,759
- Taxes -€4,552
down €4,552 (-21.5%), from €21,133 to €16,581
- Financial charges -€2,739
down €2,739 (-31.6%), from €8,661 to €5,922
- Depreciation +€2,034
up €2,034 (+5.7%), from €35,833 to €37,867
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 | €553,884 | €503,462 | -€50,422 | -9.1% |
| Fixed assets | 21/28 | €248,872 | €223,968 | -€24,905 | -10.0% |
| Tangible fixed assets | 22/27 | €248,872 | €223,968 | -€24,905 | -10.0% |
| Plant, machinery and equipment | 23 | €61,147 | €47,982 | -€13,166 | -21.5% |
| Furniture and vehicles | 24 | €11,782 | €12,705 | +€923 | +7.8% |
| Other tangible fixed assets | 26 | €175,943 | €163,281 | -€12,662 | -7.2% |
| Current assets | 29/58 | €305,012 | €279,494 | -€25,518 | -8.4% |
| Stocks and contracts in progress | 3 | €7,793 | €7,285 | -€508 | -6.5% |
| Stocks | 30/36 | €7,793 | €7,285 | -€508 | -6.5% |
| Amounts receivable within one year | 40/41 | €6,052 | €1,784 | -€4,267 | -70.5% |
| Trade receivables | 40 | €4,941 | €604 | -€4,337 | -87.8% |
| Other amounts receivable | 41 | €1,111 | €1,180 | +€69 | +6.2% |
| Current investments | 50/53 | €100,000 | €110,000 | +€10,000 | +10.0% |
| Cash at bank and in hand | 54/58 | €188,749 | €157,761 | -€30,988 | -16.4% |
| Deferred charges and accrued income | 490/1 | €2,418 | €2,664 | +€246 | +10.2% |
| Total equity and liabilities | 10/49 | €553,884 | €503,462 | -€50,422 | -9.1% |
| Equity | 10/15 | €258,327 | €70,462 | -€187,865 | -72.7% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €188,327 | €462 | -€187,865 | -99.8% |
| Distributable reserves | 133 | €188,327 | €462 | -€187,865 | -99.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €295,556 | €432,999 | +€137,443 | +46.5% |
| Amounts payable after more than one year | 17 | €226,055 | €206,576 | -€19,480 | -8.6% |
| Financial debts | 170/4 | €226,055 | €206,576 | -€19,480 | -8.6% |
| Amounts payable within one year | 42/48 | €69,501 | €226,424 | +€156,922 | +226% |
| Current portion of amounts payable after more than one year | 42 | €19,129 | €19,480 | +€351 | +1.8% |
| Trade debts | 44 | €11,304 | €10,557 | -€747 | -6.6% |
| Suppliers | 440/4 | €11,304 | €10,557 | -€747 | -6.6% |
| Taxes, remuneration and social security | 45 | €27,203 | €12,350 | -€14,852 | -54.6% |
| Taxes | 450/3 | €27,203 | €7,081 | -€20,122 | -74.0% |
| Remuneration and social security | 454/9 | €0 | €5,270 | +€5,270 | |
| Other amounts payable | 47/48 | €11,866 | €184,036 | +€172,170 | +1,451% |
| Remuneration, social security and pensions | 62 | - | €763 | +€763 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,833 | €37,867 | +€2,034 | +5.7% |
| Other operating charges | 640/8 | €2,814 | €3,365 | +€551 | +19.6% |
| Gross operating margin | 9900 | €151,311 | €130,759 | -€20,552 | -13.6% |
| Operating profit (loss) | 9901 | €112,664 | €88,764 | -€23,900 | -21.2% |
| Financial income | 75/76B | €991 | €1,074 | +€83 | +8.4% |
| Recurring financial income | 75 | €991 | €1,074 | +€83 | +8.4% |
| Financial charges | 65/66B | €8,661 | €5,922 | -€2,739 | -31.6% |
| Recurring financial charges | 65 | €8,661 | €5,922 | -€2,739 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €104,994 | €83,916 | -€21,078 | -20.1% |
| Income taxes | 67/77 | €21,133 | €16,581 | -€4,552 | -21.5% |
| Profit (loss) for the period | 9904 | €83,861 | €67,335 | -€16,526 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,861 | €67,335 | -€16,526 | -19.7% |
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 25 October 2026 via checked.be.