HOMAFRAS: what changed
Two fiscal 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.
HOMAFRAS
Largest movements
- Cash +€121,140
up €121,140 (+512.4%), from €23,642 to €144,782
mainly Stocks and contracts (+€103,190) and Depreciation (+€76,495)
- Stocks and contracts -€103,190
down €103,190 (-40.3%), from €255,895 to €152,705
of which Contracts in progress: -€116,034
- Tangible fixed assets -€68,330
down €68,330 (-27.5%), from €248,401 to €180,071
of which Plant, machinery and equipment: -€72,686
- Receivables within one year -€18,079
down €18,079 (-6.4%), from €283,675 to €265,596
of which Other amounts receivable: -€12,253
- Reserves -€31,175
down €31,175 (-4.8%), from €652,147 to €620,973
of which Distributable reserves: -€31,175
- Trade debts -€20,696
down €20,696 (-99.0%), from €20,910 to €214
- Short-term financial debts -€20,426
down €20,426 (-58.4%), from €35,004 to €14,578
- Gross operating margin +€12,314
up €12,314 (+8.2%), from €150,964 to €163,279
- Depreciation -€7,683
down €7,683 (-9.1%), from €84,178 to €76,495
- Taxes +€4,056
up €4,056 (+577.6%), from €702 to €4,758
- Financial charges +€4,051
up €4,051 (+33.6%), from €12,061 to €16,112
of which Non-recurring financial charges: +€4,646
- Staff costs +€2,276
up €2,276 (+4.4%), from €51,467 to €53,742
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €862,030 | €789,487 | -€72,543 | -8.4% |
| Fixed assets | 21/28 | €248,401 | €180,071 | -€68,330 | -27.5% |
| Tangible fixed assets | 22/27 | €248,401 | €180,071 | -€68,330 | -27.5% |
| Plant, machinery and equipment | 23 | €241,712 | €169,026 | -€72,686 | -30.1% |
| Furniture and vehicles | 24 | €6,689 | €11,045 | +€4,356 | +65.1% |
| Current assets | 29/58 | €613,629 | €609,417 | -€4,212 | -0.7% |
| Stocks and contracts in progress | 3 | €255,895 | €152,705 | -€103,190 | -40.3% |
| Stocks | 30/36 | €134,656 | €147,500 | +€12,844 | +9.5% |
| Contracts in progress | 37 | €121,239 | €5,205 | -€116,034 | -95.7% |
| Amounts receivable within one year | 40/41 | €283,675 | €265,596 | -€18,079 | -6.4% |
| Trade receivables | 40 | €186,135 | €180,309 | -€5,826 | -3.1% |
| Other amounts receivable | 41 | €97,540 | €85,287 | -€12,253 | -12.6% |
| Cash at bank and in hand | 54/58 | €23,642 | €144,782 | +€121,140 | +512.4% |
| Deferred charges and accrued income | 490/1 | €50,418 | €46,334 | -€4,084 | -8.1% |
| Total equity and liabilities | 10/49 | €862,030 | €789,487 | -€72,543 | -8.4% |
| Equity | 10/15 | €752,147 | €720,973 | -€31,175 | -4.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €652,147 | €620,973 | -€31,175 | -4.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €642,147 | €610,973 | -€31,175 | -4.9% |
| Provisions and deferred taxes | 16 | €27,553 | €27,553 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €27,553 | €27,553 | = | 0.0% |
| Environmental obligations | 163 | €27,553 | €27,553 | = | 0.0% |
| Amounts payable | 17/49 | €82,330 | €40,962 | -€41,368 | -50.2% |
| Amounts payable within one year | 42/48 | €80,312 | €38,226 | -€42,087 | -52.4% |
| Current portion of amounts payable after more than one year | 42 | €8,275 | €8,275 | = | 0.0% |
| Financial debts | 43 | €35,004 | €14,578 | -€20,426 | -58.4% |
| Credit institutions | 430/8 | €35,004 | €14,578 | -€20,426 | -58.4% |
| Trade debts | 44 | €20,910 | €214 | -€20,696 | -99.0% |
| Suppliers | 440/4 | €20,910 | €214 | -€20,696 | -99.0% |
| Taxes, remuneration and social security | 45 | €4,593 | €6,385 | +€1,792 | +39.0% |
| Taxes | 450/3 | - | €1,662 | +€1,662 | |
| Remuneration and social security | 454/9 | €4,593 | €4,724 | +€130 | +2.8% |
| Other amounts payable | 47/48 | €11,530 | €8,773 | -€2,757 | -23.9% |
| Accrued charges and deferred income | 492/3 | €2,017 | €2,736 | +€719 | +35.6% |
| Remuneration, social security and pensions | 62 | €51,467 | €53,742 | +€2,276 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,178 | €76,495 | -€7,683 | -9.1% |
| Other operating charges | 640/8 | €1,581 | €1,272 | -€309 | -19.5% |
| Gross operating margin | 9900 | €150,964 | €163,279 | +€12,314 | +8.2% |
| Operating profit (loss) | 9901 | €13,739 | €31,769 | +€18,030 | +131.2% |
| Financial income | 75/76B | €396 | €702 | +€307 | +77.4% |
| Recurring financial income | 75 | €396 | €702 | +€307 | +77.4% |
| Financial charges | 65/66B | €12,061 | €16,112 | +€4,051 | +33.6% |
| Recurring financial charges | 65 | €4,207 | €3,612 | -€595 | -14.1% |
| Non-recurring financial charges | 66B | €7,854 | €12,500 | +€4,646 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | €2,074 | €16,360 | +€14,286 | +688.8% |
| Income taxes | 67/77 | €702 | €4,758 | +€4,056 | +577.6% |
| Profit (loss) for the period | 9904 | €1,372 | €11,602 | +€10,230 | +745.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,372 | €11,602 | +€10,230 | +745.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.