Honest Trade: what changed
Honest Trade
Largest movements
- Cash -€28,516
down €28,516 (-79.3%), from €35,957 to €7,441
mainly Receivables within one year (-€16,350) and Net result for the year (-€8,522)
- Receivables within one year +€16,350
up €16,350 (+419%), from €3,900 to €20,250
of which Trade receivables: +€18,428
- Tangible fixed assets +€2,136
up €2,136 (+18.8%), from €11,342 to €13,478
of which Plant, machinery and equipment: +€4,723
- Profit (loss) carried forward -€8,522
down €8,522 (-50.5%), from €16,879 to €8,357
- Tax, wage and social debts -€1,265
down €1,265 (-78.1%), from €1,620 to €355
of which Remuneration and social security: -€1,500
- Other debts -€909
down €909 (-3.7%), from €24,543 to €23,634
- Trade debts +€648
up €648 (+400%), from €162 to €810
- Gross operating margin -€21,693
down €21,693, from €21,493 to -€200
- Taxes -€3,414
no longer reported in 2025 (was €3,414)
- Other operating charges +€2,126
up €2,126 (+311%), from €684 to €2,810
- Depreciation +€1,479
up €1,479 (+41.1%), from €3,594 to €5,073
- Financial charges +€337
up €337 (+329%), from €102 to €439
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 | €51,722 | €42,107 | -€9,615 | -18.6% |
| Fixed assets | 21/28 | €11,342 | €13,478 | +€2,136 | +18.8% |
| Tangible fixed assets | 22/27 | €11,342 | €13,478 | +€2,136 | +18.8% |
| Plant, machinery and equipment | 23 | €1,641 | €6,364 | +€4,723 | +288% |
| Furniture and vehicles | 24 | €9,701 | €7,115 | -€2,586 | -26.7% |
| Current assets | 29/58 | €40,380 | €28,629 | -€11,751 | -29.1% |
| Amounts receivable within one year | 40/41 | €3,900 | €20,250 | +€16,350 | +419% |
| Trade receivables | 40 | €822 | €19,250 | +€18,428 | +2,241% |
| Other amounts receivable | 41 | €3,078 | €1,000 | -€2,078 | -67.5% |
| Cash at bank and in hand | 54/58 | €35,957 | €7,441 | -€28,516 | -79.3% |
| Deferred charges and accrued income | 490/1 | €523 | €937 | +€415 | +79.3% |
| Total equity and liabilities | 10/49 | €51,722 | €42,107 | -€9,615 | -18.6% |
| Equity | 10/15 | €25,379 | €16,857 | -€8,522 | -33.6% |
| Contributions | 10/11 | €8,500 | €8,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,879 | €8,357 | -€8,522 | -50.5% |
| Amounts payable | 17/49 | €26,343 | €25,251 | -€1,093 | -4.1% |
| Amounts payable within one year | 42/48 | €26,325 | €24,798 | -€1,527 | -5.8% |
| Trade debts | 44 | €162 | €810 | +€648 | +400% |
| Suppliers | 440/4 | €162 | €810 | +€648 | +400% |
| Taxes, remuneration and social security | 45 | €1,620 | €355 | -€1,265 | -78.1% |
| Taxes | 450/3 | €120 | €355 | +€235 | +195% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €24,543 | €23,634 | -€909 | -3.7% |
| Accrued charges and deferred income | 492/3 | €18 | €452 | +€434 | +2,407% |
| Remuneration, social security and pensions | 62 | -€67 | - | +€67 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,594 | €5,073 | +€1,479 | +41.1% |
| Other operating charges | 640/8 | €684 | €2,810 | +€2,126 | +311% |
| Gross operating margin | 9900 | €21,493 | -€200 | -€21,693 | |
| Operating profit (loss) | 9901 | €17,282 | -€8,083 | -€25,364 | |
| Financial income | 75/76B | €44 | €0 | -€44 | -99.9% |
| Recurring financial income | 75 | €44 | €0 | -€44 | -99.9% |
| Financial charges | 65/66B | €102 | €439 | +€337 | +329% |
| Recurring financial charges | 65 | €102 | €439 | +€337 | +329% |
| Profit (loss) for the period before taxes | 9903 | €17,223 | -€8,522 | -€25,745 | |
| Income taxes | 67/77 | €3,414 | - | -€3,414 | |
| Profit (loss) for the period | 9904 | €13,809 | -€8,522 | -€22,331 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,809 | -€8,522 | -€22,331 |
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 2 November 2026 via checked.be.