HOMELAND: what changed
HOMELAND
Largest movements
- Receivables within one year -€44,905
no longer reported in 2025 (was €44,905)
of which Trade receivables: -€44,767
- Cash +€30,034
up €30,034 (+347%), from €8,650 to €38,684
mainly Receivables within one year (+€44,905) and Net result for the year (+€21,702)
- Stocks and contracts -€9,930
down €9,930 (-7.5%), from €132,744 to €122,814
- Debts after one year -€34,323
down €34,323 (-15.3%), from €224,423 to €190,100
- Reserves +€21,702
up €21,702 (+20.3%), from €107,121 to €128,823
of which Distributable reserves: +€21,702
- Trade debts -€11,201
down €11,201 (-33.6%), from €33,366 to €22,166
- Gross operating margin +€16,903
up €16,903 (+12.0%), from €140,737 to €157,640
- Staff costs +€6,518
up €6,518 (+6.3%), from €104,221 to €110,740
- Depreciation -€2,949
down €2,949 (-44.3%), from €6,662 to €3,714
- Taxes +€2,788
up €2,788 (+31.0%), from €8,999 to €11,787
- Other operating charges -€1,849
down €1,849 (-43.1%), from €4,288 to €2,440
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,640 | €485,826 | -€26,815 | -5.2% |
| Fixed assets | 21/28 | €326,341 | €324,328 | -€2,014 | -0.6% |
| Tangible fixed assets | 22/27 | €4,341 | €2,328 | -€2,014 | -46.4% |
| Plant, machinery and equipment | 23 | €2,778 | €2,328 | -€450 | -16.2% |
| Furniture and vehicles | 24 | €1,564 | - | -€1,564 | |
| Financial fixed assets | 28 | €322,000 | €322,000 | = | 0.0% |
| Current assets | 29/58 | €186,299 | €161,498 | -€24,801 | -13.3% |
| Stocks and contracts in progress | 3 | €132,744 | €122,814 | -€9,930 | -7.5% |
| Stocks | 30/36 | €132,744 | €122,814 | -€9,930 | -7.5% |
| Amounts receivable within one year | 40/41 | €44,905 | - | -€44,905 | |
| Trade receivables | 40 | €44,767 | - | -€44,767 | |
| Other amounts receivable | 41 | €138 | - | -€138 | |
| Cash at bank and in hand | 54/58 | €8,650 | €38,684 | +€30,034 | +347% |
| Total equity and liabilities | 10/49 | €512,640 | €485,826 | -€26,815 | -5.2% |
| Equity | 10/15 | €168,621 | €190,323 | +€21,702 | +12.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €107,121 | €128,823 | +€21,702 | +20.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €100,971 | €122,673 | +€21,702 | +21.5% |
| Amounts payable | 17/49 | €344,020 | €295,503 | -€48,516 | -14.1% |
| Amounts payable after more than one year | 17 | €224,423 | €190,100 | -€34,323 | -15.3% |
| Financial debts | 170/4 | €224,423 | €190,100 | -€34,323 | -15.3% |
| Amounts payable within one year | 42/48 | €119,597 | €105,403 | -€14,194 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €32,984 | €34,323 | +€1,339 | +4.1% |
| Trade debts | 44 | €33,366 | €22,166 | -€11,201 | -33.6% |
| Suppliers | 440/4 | €33,366 | €22,166 | -€11,201 | -33.6% |
| Advances received on contracts in progress | 46 | €6,638 | €7,199 | +€562 | +8.5% |
| Taxes, remuneration and social security | 45 | €46,609 | €41,715 | -€4,893 | -10.5% |
| Taxes | 450/3 | €26,563 | €20,675 | -€5,888 | -22.2% |
| Remuneration and social security | 454/9 | €20,046 | €21,041 | +€995 | +5.0% |
| Remuneration, social security and pensions | 62 | €104,221 | €110,740 | +€6,518 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,662 | €3,714 | -€2,949 | -44.3% |
| Other operating charges | 640/8 | €4,288 | €2,440 | -€1,849 | -43.1% |
| Gross operating margin | 9900 | €140,737 | €157,640 | +€16,903 | +12.0% |
| Operating profit (loss) | 9901 | €25,565 | €40,747 | +€15,182 | +59.4% |
| Financial income | 75/76B | €3,549 | €3,545 | -€4 | -0.1% |
| Recurring financial income | 75 | €3,549 | €3,545 | -€4 | -0.1% |
| Financial charges | 65/66B | €12,493 | €10,802 | -€1,691 | -13.5% |
| Recurring financial charges | 65 | €12,493 | €10,802 | -€1,691 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €16,621 | €33,489 | +€16,868 | +101% |
| Income taxes | 67/77 | €8,999 | €11,787 | +€2,788 | +31.0% |
| Profit (loss) for the period | 9904 | €7,622 | €21,702 | +€14,080 | +185% |
| Profit (loss) for the period to be appropriated | 9905 | €7,622 | €21,702 | +€14,080 | +185% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.