HANOULLE-TITECA: 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.
HANOULLE-TITECA
Largest movements
- Tangible fixed assets -€42,818
down €42,818 (-5.8%), from €733,915 to €691,097
of which Furniture and vehicles: -€22,871
- Cash -€34,765
down €34,765 (-71.2%), from €48,815 to €14,050
mainly Current investments (-€32,154) and Tax, wage and social debts (-€27,929)
- Current investments +€32,154
up €32,154 (+5.4%), from €599,691 to €631,846
- Receivables within one year +€17,153
up €17,153 (+201%), from €8,518 to €25,670
of which Other amounts receivable: +€19,558
- Tax, wage and social debts -€27,929
down €27,929 (-68.7%), from €40,655 to €12,726
- Other debts +€27,295
up €27,295 (+6.6%), from €411,005 to €438,299
- Reserves -€18,902
down €18,902 (-6.8%), from €276,139 to €257,237
of which Distributable reserves: -€15,000
- Gross operating margin -€139,801
down €139,801 (-68.9%), from €202,828 to €63,028
- Taxes -€43,252
down €43,252 (-96.9%), from €44,639 to €1,387
- Financial charges -€3,901
down €3,901 (-11.8%), from €32,950 to €29,049
- Other operating charges -€3,125
down €3,125 (-26.8%), from €11,640 to €8,515
- Financial income -€2,378
down €2,378 (-14.4%), from €16,467 to €14,089
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 | €1,397,915 | €1,366,412 | -€31,503 | -2.3% |
| Fixed assets | 21/28 | €733,946 | €691,128 | -€42,818 | -5.8% |
| Tangible fixed assets | 22/27 | €733,915 | €691,097 | -€42,818 | -5.8% |
| Land and buildings | 22 | €660,145 | €640,198 | -€19,947 | -3.0% |
| Furniture and vehicles | 24 | €73,770 | €50,899 | -€22,871 | -31.0% |
| Financial fixed assets | 28 | €31 | €31 | = | 0.0% |
| Current assets | 29/58 | €663,969 | €675,284 | +€11,315 | +1.7% |
| Amounts receivable within one year | 40/41 | €8,518 | €25,670 | +€17,153 | +201% |
| Trade receivables | 40 | €7,579 | €5,173 | -€2,406 | -31.7% |
| Other amounts receivable | 41 | €939 | €20,497 | +€19,558 | +2,084% |
| Current investments | 50/53 | €599,691 | €631,846 | +€32,154 | +5.4% |
| Cash at bank and in hand | 54/58 | €48,815 | €14,050 | -€34,765 | -71.2% |
| Deferred charges and accrued income | 490/1 | €6,944 | €3,718 | -€3,227 | -46.5% |
| Total equity and liabilities | 10/49 | €1,397,915 | €1,366,412 | -€31,503 | -2.3% |
| Equity | 10/15 | €902,625 | €879,282 | -€23,343 | -2.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €276,139 | €257,237 | -€18,902 | -6.8% |
| Tax-exempt reserves | 132 | €78,139 | €74,237 | -€3,902 | -5.0% |
| Distributable reserves | 133 | €198,000 | €183,000 | -€15,000 | -7.6% |
| Profit (loss) carried forward | 14 | €476,487 | €472,045 | -€4,442 | -0.9% |
| Provisions and deferred taxes | 16 | €26,018 | €24,719 | -€1,299 | -5.0% |
| Deferred taxes | 168 | €26,018 | €24,719 | -€1,299 | -5.0% |
| Amounts payable | 17/49 | €469,271 | €462,411 | -€6,860 | -1.5% |
| Amounts payable within one year | 42/48 | €467,053 | €459,939 | -€7,114 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €11,764 | €8,812 | -€2,951 | -25.1% |
| Trade debts | 44 | €3,630 | €101 | -€3,529 | -97.2% |
| Suppliers | 440/4 | €3,630 | €101 | -€3,529 | -97.2% |
| Taxes, remuneration and social security | 45 | €40,655 | €12,726 | -€27,929 | -68.7% |
| Taxes | 450/3 | €40,655 | €12,726 | -€27,929 | -68.7% |
| Other amounts payable | 47/48 | €411,005 | €438,299 | +€27,295 | +6.6% |
| Accrued charges and deferred income | 492/3 | €2,218 | €2,472 | +€253 | +11.4% |
| Non-recurring operating income | 76A | €104,179 | €30 | -€104,149 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,408 | €46,246 | -€163 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€355 | - | +€355 | |
| Other operating charges | 640/8 | €11,640 | €8,515 | -€3,125 | -26.8% |
| Non-recurring operating charges | 66A | - | €2,814 | +€2,814 | |
| Gross operating margin | 9900 | €202,828 | €63,028 | -€139,801 | -68.9% |
| Operating profit (loss) | 9901 | €145,135 | €5,453 | -€139,682 | -96.2% |
| Financial income | 75/76B | €16,467 | €14,089 | -€2,378 | -14.4% |
| Recurring financial income | 75 | €16,467 | €14,089 | -€2,378 | -14.4% |
| Financial charges | 65/66B | €32,950 | €29,049 | -€3,901 | -11.8% |
| Recurring financial charges | 65 | €32,950 | €29,049 | -€3,901 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €128,652 | -€9,507 | -€138,159 | |
| Transfer from deferred taxes | 780 | €12,005 | €1,299 | -€10,705 | -89.2% |
| Income taxes | 67/77 | €44,639 | €1,387 | -€43,252 | -96.9% |
| Profit (loss) for the period | 9904 | €96,017 | -€9,595 | -€105,613 | |
| Transfer from tax-exempt reserves | 789 | €36,052 | €3,902 | -€32,151 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €132,070 | -€5,694 | -€137,763 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.