HIHOUD-NOËL: 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.
HIHOUD-NOËL
Largest movements
- Tangible fixed assets -€11,533
down €11,533 (-15.1%), from €76,145 to €64,613
of which Furniture and vehicles: -€8,095
- Receivables within one year -€1,849
down €1,849 (-13.5%), from €13,673 to €11,824
of which Trade receivables: -€1,850
- Profit (loss) carried forward -€7,724
down €7,724 (-15.7%), from €49,221 to €41,496
- Debts after one year -€6,580
down €6,580 (-24.2%), from €27,160 to €20,580
- Trade debts +€3,882
up €3,882 (+190%), from €2,039 to €5,920
- Tax, wage and social debts +€2,495
up €2,495 (+52.6%), from €4,740 to €7,235
- Current portion of long-term debt -€2,314
down €2,314 (-23.3%), from €9,933 to €7,619
- Gross operating margin -€17,141
down €17,141 (-61.9%), from €27,685 to €10,544
- Financial income -€14,863
down €14,863 (-99.6%), from €14,926 to €63
of which Non-recurring financial income: -€14,876
- Taxes -€9,000
down €9,000 (-98.5%), from €9,141 to €140
- Depreciation +€7,327
up €7,327 (+90.4%), from €8,105 to €15,433
- Financial charges +€1,150
up €1,150 (+207%), from €555 to €1,706
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 | €117,048 | €104,412 | -€12,635 | -10.8% |
| Fixed assets | 21/28 | €77,675 | €66,143 | -€11,533 | -14.8% |
| Tangible fixed assets | 22/27 | €76,145 | €64,613 | -€11,533 | -15.1% |
| Plant, machinery and equipment | 23 | €3,504 | €3,079 | -€426 | -12.1% |
| Furniture and vehicles | 24 | €50,760 | €42,665 | -€8,095 | -15.9% |
| Other tangible fixed assets | 26 | €21,881 | €18,869 | -€3,012 | -13.8% |
| Financial fixed assets | 28 | €1,530 | €1,530 | = | 0.0% |
| Current assets | 29/58 | €39,372 | €38,270 | -€1,103 | -2.8% |
| Amounts receivable within one year | 40/41 | €13,673 | €11,824 | -€1,849 | -13.5% |
| Trade receivables | 40 | €13,673 | €11,824 | -€1,850 | -13.5% |
| Other amounts receivable | 41 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €23,404 | €23,158 | -€246 | -1.1% |
| Deferred charges and accrued income | 490/1 | €2,295 | €3,288 | +€992 | +43.2% |
| Total equity and liabilities | 10/49 | €117,048 | €104,412 | -€12,635 | -10.8% |
| Equity | 10/15 | €70,781 | €63,057 | -€7,724 | -10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,961 | €2,961 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,101 | €1,101 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,221 | €41,496 | -€7,724 | -15.7% |
| Amounts payable | 17/49 | €46,266 | €41,355 | -€4,911 | -10.6% |
| Amounts payable after more than one year | 17 | €27,160 | €20,580 | -€6,580 | -24.2% |
| Financial debts | 170/4 | €27,160 | €20,580 | -€6,580 | -24.2% |
| Amounts payable within one year | 42/48 | €18,378 | €20,775 | +€2,397 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €9,933 | €7,619 | -€2,314 | -23.3% |
| Trade debts | 44 | €2,039 | €5,920 | +€3,882 | +190% |
| Suppliers | 440/4 | €2,039 | €5,920 | +€3,882 | +190% |
| Taxes, remuneration and social security | 45 | €4,740 | €7,235 | +€2,495 | +52.6% |
| Taxes | 450/3 | €4,740 | €7,235 | +€2,495 | +52.6% |
| Other amounts payable | 47/48 | €1,666 | - | -€1,666 | |
| Accrued charges and deferred income | 492/3 | €728 | - | -€728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,105 | €15,433 | +€7,327 | +90.4% |
| Other operating charges | 640/8 | €1,076 | €1,052 | -€24 | -2.3% |
| Gross operating margin | 9900 | €27,685 | €10,544 | -€17,141 | -61.9% |
| Operating profit (loss) | 9901 | €18,503 | -€5,941 | -€24,444 | |
| Financial income | 75/76B | €14,926 | €63 | -€14,863 | -99.6% |
| Recurring financial income | 75 | €50 | €63 | +€13 | +25.8% |
| Non-recurring financial income | 76B | €14,876 | - | -€14,876 | |
| Financial charges | 65/66B | €555 | €1,706 | +€1,150 | +207% |
| Recurring financial charges | 65 | €555 | €1,706 | +€1,150 | +207% |
| Profit (loss) for the period before taxes | 9903 | €32,873 | -€7,584 | -€40,457 | |
| Income taxes | 67/77 | €9,141 | €140 | -€9,000 | -98.5% |
| Profit (loss) for the period | 9904 | €23,733 | -€7,724 | -€31,457 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,733 | -€7,724 | -€31,457 |
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 28 October 2026 via checked.be.