HET KABINET: 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.
HET KABINET
Largest movements
- Tangible fixed assets +€477,302
up €477,302 (+803%), from €59,410 to €536,712
of which Land and buildings: +€487,716
- Deferred charges and accrued income -€36,519
down €36,519 (-95.0%), from €38,443 to €1,924
- Cash +€13,101
up €13,101 (+590%), from €2,221 to €15,322
mainly Debts after one year (+€404,353) and Deferred charges and accrued income (+€36,519)
- Receivables within one year +€9,735
up €9,735 (+310%), from €3,140 to €12,875
of which Trade receivables: +€12,235
- Debts after one year +€404,353
new in 2025: €404,353
- Accrued charges and deferred income +€20,857
up €20,857 (+441%), from €4,729 to €25,585
- Current portion of long-term debt +€16,016
new in 2025: €16,016
- Other debts +€12,271
up €12,271 (+12.6%), from €97,099 to €109,370
- Reserves +€10,420
up €10,420 (+1,104%), from €944 to €11,364
- Gross operating margin +€32,682
up €32,682 (+106%), from €30,768 to €63,450
- Depreciation +€21,437
up €21,437 (+149%), from €14,433 to €35,870
- Other operating charges +€6,269
up €6,269 (+1,971%), from €318 to €6,587
- Financial charges +€4,896
up €4,896 (+94.9%), from €5,156 to €10,052
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 | €109,837 | €577,043 | +€467,206 | +425% |
| Fixed assets | 21/28 | €66,034 | €546,923 | +€480,889 | +728% |
| Intangible fixed assets | 21 | €1,839 | €1,418 | -€421 | -22.9% |
| Tangible fixed assets | 22/27 | €59,410 | €536,712 | +€477,302 | +803% |
| Land and buildings | 22 | €18,758 | €506,474 | +€487,716 | +2,600% |
| Plant, machinery and equipment | 23 | €39,133 | €29,034 | -€10,099 | -25.8% |
| Furniture and vehicles | 24 | €1,518 | €1,204 | -€315 | -20.7% |
| Financial fixed assets | 28 | €4,785 | €8,793 | +€4,008 | +83.8% |
| Current assets | 29/58 | €43,803 | €30,121 | -€13,683 | -31.2% |
| Amounts receivable within one year | 40/41 | €3,140 | €12,875 | +€9,735 | +310% |
| Trade receivables | 40 | €640 | €12,875 | +€12,235 | +1,912% |
| Other amounts receivable | 41 | €2,500 | - | -€2,500 | |
| Cash at bank and in hand | 54/58 | €2,221 | €15,322 | +€13,101 | +590% |
| Deferred charges and accrued income | 490/1 | €38,443 | €1,924 | -€36,519 | -95.0% |
| Total equity and liabilities | 10/49 | €109,837 | €577,043 | +€467,206 | +425% |
| Equity | 10/15 | €4,944 | €15,364 | +€10,420 | +211% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €944 | €11,364 | +€10,420 | +1,104% |
| Distributable reserves | 133 | €944 | €11,364 | +€10,420 | +1,104% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €104,894 | €561,679 | +€456,786 | +435% |
| Amounts payable after more than one year | 17 | - | €404,353 | +€404,353 | |
| Financial debts | 170/4 | - | €404,353 | +€404,353 | |
| Amounts payable within one year | 42/48 | €100,165 | €131,741 | +€31,576 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | - | €16,016 | +€16,016 | |
| Trade debts | 44 | €3,066 | €724 | -€2,341 | -76.4% |
| Suppliers | 440/4 | €3,066 | €724 | -€2,341 | -76.4% |
| Taxes, remuneration and social security | 45 | - | €5,630 | +€5,630 | |
| Taxes | 450/3 | - | €5,630 | +€5,630 | |
| Other amounts payable | 47/48 | €97,099 | €109,370 | +€12,271 | +12.6% |
| Accrued charges and deferred income | 492/3 | €4,729 | €25,585 | +€20,857 | +441% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,433 | €35,870 | +€21,437 | +149% |
| Other operating charges | 640/8 | €318 | €6,587 | +€6,269 | +1,971% |
| Gross operating margin | 9900 | €30,768 | €63,450 | +€32,682 | +106% |
| Operating profit (loss) | 9901 | €16,017 | €20,993 | +€4,976 | +31.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €5,156 | €10,052 | +€4,896 | +94.9% |
| Recurring financial charges | 65 | €5,156 | €10,052 | +€4,896 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | €10,861 | €10,941 | +€80 | +0.7% |
| Income taxes | 67/77 | - | €521 | +€521 | |
| Profit (loss) for the period | 9904 | €10,861 | €10,420 | -€440 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,861 | €10,420 | -€440 | -4.1% |
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.