HÖNDERS SYSTEME: 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.
What changed
HÖNDERS SYSTEME
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,633
2024 · €65,083-€42,450
Equity
€267,404
2024 · €245,455+€21,949
Cash
€50,903
2024 · €48,859+€2,044
Balance sheet total
€586,745
2024 · €553,589+€33,155
Largest movements
Assets
- Stocks and contracts +€29,875
up €29,875 (+27.8%), from €107,311 to €137,186
of which Contracts in progress: +€31,615
- Receivables within one year +€15,349
up €15,349 (+8.5%), from €180,952 to €196,301
of which Trade receivables: +€24,534
- Tangible fixed assets -€12,780
down €12,780 (-6.1%), from €209,457 to €196,677
of which Land and buildings: -€7,727
Equity and liabilities
- Trade debts +€28,981
up €28,981 (+87.4%), from €33,154 to €62,135
- Profit (loss) carried forward +€22,633
up €22,633 (+11.6%), from €194,299 to €216,932
- Debts after one year -€20,747
down €20,747 (-27.9%), from €74,376 to €53,629
- Short-term financial debts -€6,763
down €6,763 (-11.9%), from €56,763 to €50,000
Income statement
- Gross operating margin -€105,599
down €105,599 (-30.4%), from €347,357 to €241,758
- Staff costs -€47,760
down €47,760 (-20.4%), from €234,520 to €186,759
- Taxes -€13,750
down €13,750 (-64.5%), from €21,330 to €7,580
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.
Result 2024
€65,083
Gross operating margin
-€105,599
Staff costs
+€47,760
Depreciation
+€1,572
Write-downs
+€57
Other operating charges
+€103
Financial income
-€1,795
Financial charges
+€1,702
Taxes
+€13,750
Result 2025
€22,633
raises the resultlowers the result
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.
From operations
+€31,837
Investment
-€2,720
Financing
-€27,073
Cash 2024
€48,859
From operations (derived)
+€31,837
Net result for the year
+€22,633
Depreciation
+€15,500
Stocks and contracts
-€29,875
Receivables within one year
-€15,349
Deferred charges and accrued income
+€1,333
Trade debts
+€28,981
Tax, wage and social debts
+€4,206
Advances received
+€4,408
Investment (derived)
-€2,720
Investment in fixed assets (net)
-€2,720
Financing
-€27,073
Debts after one year
-€20,747
Current portion of long-term debt
+€1,121
Short-term financial debts
-€6,763
Contributions, distributions and other
-€684
Cash 2025
€50,903
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €553,589 | €586,745 | +€33,155 | +6.0% |
| Fixed assets | 21/28 | €209,457 | €196,677 | -€12,780 | -6.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €209,457 | €196,677 | -€12,780 | -6.1% |
| Land and buildings | 22 | €202,810 | €195,084 | -€7,727 | -3.8% |
| Plant, machinery and equipment | 23 | €3,174 | €1,062 | -€2,112 | -66.5% |
| Furniture and vehicles | 24 | €3,472 | €532 | -€2,941 | -84.7% |
| Current assets | 29/58 | €344,133 | €390,068 | +€45,935 | +13.3% |
| Stocks and contracts in progress | 3 | €107,311 | €137,186 | +€29,875 | +27.8% |
| Stocks | 30/36 | €55,883 | €54,143 | -€1,740 | -3.1% |
| Contracts in progress | 37 | €51,428 | €83,043 | +€31,615 | +61.5% |
| Amounts receivable within one year | 40/41 | €180,952 | €196,301 | +€15,349 | +8.5% |
| Trade receivables | 40 | €24,578 | €49,112 | +€24,534 | +99.8% |
| Other amounts receivable | 41 | €156,373 | €147,189 | -€9,185 | -5.9% |
| Cash at bank and in hand | 54/58 | €48,859 | €50,903 | +€2,044 | +4.2% |
| Deferred charges and accrued income | 490/1 | €7,011 | €5,678 | -€1,333 | -19.0% |
| Total equity and liabilities | 10/49 | €553,589 | €586,745 | +€33,155 | +6.0% |
| Equity | 10/15 | €245,455 | €267,404 | +€21,949 | +8.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €9,300 | €9,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,300 | €9,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,300 | €9,300 | = | 0.0% |
| Distributable reserves | 133 | - | €0 | = | |
| Profit (loss) carried forward | 14 | €194,299 | €216,932 | +€22,633 | +11.6% |
| Investment grants | 15 | €11,856 | €11,172 | -€684 | -5.8% |
| Amounts payable | 17/49 | €308,135 | €319,341 | +€11,206 | +3.6% |
| Amounts payable after more than one year | 17 | €74,376 | €53,629 | -€20,747 | -27.9% |
| Financial debts | 170/4 | €74,376 | €53,629 | -€20,747 | -27.9% |
| Amounts payable within one year | 42/48 | €233,758 | €265,712 | +€31,954 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €24,673 | €25,794 | +€1,121 | +4.5% |
| Financial debts | 43 | €56,763 | €50,000 | -€6,763 | -11.9% |
| Credit institutions | 430/8 | €56,763 | €50,000 | -€6,763 | -11.9% |
| Trade debts | 44 | €33,154 | €62,135 | +€28,981 | +87.4% |
| Suppliers | 440/4 | €33,154 | €62,135 | +€28,981 | +87.4% |
| Advances received on contracts in progress | 46 | €42,303 | €46,712 | +€4,408 | +10.4% |
| Taxes, remuneration and social security | 45 | €19,638 | €23,844 | +€4,206 | +21.4% |
| Taxes | 450/3 | €49 | €7,580 | +€7,531 | +15,244% |
| Remuneration and social security | 454/9 | €19,589 | €16,264 | -€3,324 | -17.0% |
| Other amounts payable | 47/48 | €57,227 | €57,227 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,860 | €0 | -€2,860 | -100% |
| Remuneration, social security and pensions | 62 | €234,520 | €186,759 | -€47,760 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,071 | €15,500 | -€1,572 | -9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,287 | €1,230 | -€57 | -4.4% |
| Other operating charges | 640/8 | €3,987 | €3,885 | -€103 | -2.6% |
| Gross operating margin | 9900 | €347,357 | €241,758 | -€105,599 | -30.4% |
| Operating profit (loss) | 9901 | €90,491 | €34,384 | -€56,107 | -62.0% |
| Financial income | 75/76B | €4,346 | €2,551 | -€1,795 | -41.3% |
| Recurring financial income | 75 | €4,346 | €2,551 | -€1,795 | -41.3% |
| Financial charges | 65/66B | €8,423 | €6,721 | -€1,702 | -20.2% |
| Recurring financial charges | 65 | €8,423 | €6,721 | -€1,702 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €86,413 | €30,213 | -€56,200 | -65.0% |
| Income taxes | 67/77 | €21,330 | €7,580 | -€13,750 | -64.5% |
| Profit (loss) for the period | 9904 | €65,083 | €22,633 | -€42,450 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €65,083 | €22,633 | -€42,450 | -65.2% |
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 25 October 2026 via checked.be.