Honest Sweater: 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.
Honest Sweater
Largest movements
- Receivables within one year -€17,667
down €17,667 (-39.7%), from €44,556 to €26,889
of which Trade receivables: -€21,054
- Stocks and contracts -€16,974
down €16,974 (-5.7%), from €298,621 to €281,646
- Intangible fixed assets -€3,724
down €3,724 (-61.4%), from €6,070 to €2,346
- Current portion of long-term debt -€37,136
no longer reported in 2025 (was €37,136)
- Gross operating margin -€12,276
down €12,276 (-67.1%), from €18,287 to €6,011
- Financial charges -€812
down €812 (-69.4%), from €1,171 to €359
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 | €349,247 | €311,880 | -€37,367 | -10.7% |
| Fixed assets | 21/28 | €6,070 | €2,346 | -€3,724 | -61.4% |
| Intangible fixed assets | 21 | €6,070 | €2,346 | -€3,724 | -61.4% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €343,177 | €309,534 | -€33,643 | -9.8% |
| Stocks and contracts in progress | 3 | €298,621 | €281,646 | -€16,974 | -5.7% |
| Stocks | 30/36 | €298,621 | €281,646 | -€16,974 | -5.7% |
| Amounts receivable within one year | 40/41 | €44,556 | €26,889 | -€17,667 | -39.7% |
| Trade receivables | 40 | €44,299 | €23,245 | -€21,054 | -47.5% |
| Other amounts receivable | 41 | €257 | €3,644 | +€3,387 | +1,317% |
| Cash at bank and in hand | 54/58 | - | €998 | +€998 | |
| Total equity and liabilities | 10/49 | €349,247 | €311,880 | -€37,367 | -10.7% |
| Equity | 10/15 | €51,434 | €51,971 | +€537 | +1.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | - | €100,000 | +€100,000 | |
| Issued capital | 100 | - | €100,000 | +€100,000 | |
| Profit (loss) carried forward | 14 | -€48,566 | -€48,029 | +€537 | +1.1% |
| Amounts payable | 17/49 | €297,814 | €259,909 | -€37,905 | -12.7% |
| Amounts payable after more than one year | 17 | €248,151 | €246,151 | -€2,000 | -0.8% |
| Other amounts payable | 178/9 | €248,151 | €246,151 | -€2,000 | -0.8% |
| Amounts payable within one year | 42/48 | €49,663 | €13,758 | -€35,905 | -72.3% |
| Current portion of amounts payable after more than one year | 42 | €37,136 | - | -€37,136 | |
| Trade debts | 44 | €12,527 | €12,909 | +€382 | +3.1% |
| Suppliers | 440/4 | €12,527 | €12,909 | +€382 | +3.1% |
| Other amounts payable | 47/48 | - | €849 | +€849 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,857 | €3,724 | -€133 | -3.5% |
| Other operating charges | 640/8 | - | €50 | +€50 | |
| Non-recurring operating charges | 66A | €14,075 | €1,341 | -€12,735 | -90.5% |
| Gross operating margin | 9900 | €18,287 | €6,011 | -€12,276 | -67.1% |
| Operating profit (loss) | 9901 | €355 | €896 | +€541 | +153% |
| Financial charges | 65/66B | €1,171 | €359 | -€812 | -69.4% |
| Recurring financial charges | 65 | €1,171 | €359 | -€812 | -69.4% |
| Profit (loss) for the period before taxes | 9903 | -€816 | €537 | +€1,354 | |
| Profit (loss) for the period | 9904 | -€816 | €537 | +€1,354 | |
| Profit (loss) for the period to be appropriated | 9905 | -€816 | €537 | +€1,354 |
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 30 October 2026 via checked.be.