HONFIN: 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.
HONFIN
Largest movements
- Tangible fixed assets -€19,570
down €19,570 (-3.5%), from €554,247 to €534,677
- Receivables within one year +€6,898
up €6,898 (+6.7%), from €102,309 to €109,207
of which Trade receivables: +€6,898
- Tax, wage and social debts +€29,237
new in 2025: €29,237
- Debts after one year -€27,817
down €27,817 (-6.7%), from €412,450 to €384,633
- Reserves -€26,749
no longer reported in 2025 (was €26,749)
- Other debts +€16,882
up €16,882 (+9.1%), from €184,661 to €201,543
- Provisions -€11,236
no longer reported in 2025 (was €11,236)
- Staff costs +€30,522
up €30,522 (+136%), from €22,403 to €52,924
- Gross operating margin +€12,013
up €12,013 (+20.0%), from €60,153 to €72,166
- Other operating charges +€7,918
up €7,918 (+251%), from €3,155 to €11,073
- Financial charges +€3,766
up €3,766 (+31.1%), from €12,119 to €15,884
- Taxes +€1,012
new in 2025: €1,012
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 | €670,155 | €659,614 | -€10,541 | -1.6% |
| Fixed assets | 21/28 | €554,247 | €534,677 | -€19,570 | -3.5% |
| Tangible fixed assets | 22/27 | €554,247 | €534,677 | -€19,570 | -3.5% |
| Land and buildings | 22 | €554,247 | €534,677 | -€19,570 | -3.5% |
| Current assets | 29/58 | €115,907 | €124,937 | +€9,029 | +7.8% |
| Amounts receivable within one year | 40/41 | €102,309 | €109,207 | +€6,898 | +6.7% |
| Trade receivables | 40 | - | €6,898 | +€6,898 | |
| Other amounts receivable | 41 | €102,309 | €102,309 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,599 | €15,730 | +€2,131 | +15.7% |
| Total equity and liabilities | 10/49 | €670,155 | €659,614 | -€10,541 | -1.6% |
| Equity | 10/15 | €32,086 | €15,024 | -€17,062 | -53.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €26,749 | - | -€26,749 | |
| Tax-exempt reserves | 132 | €26,749 | - | -€26,749 | |
| Profit (loss) carried forward | 14 | -€963 | €8,724 | +€9,688 | |
| Provisions and deferred taxes | 16 | €11,236 | - | -€11,236 | |
| Deferred taxes | 168 | €11,236 | - | -€11,236 | |
| Amounts payable | 17/49 | €626,832 | €644,590 | +€17,757 | +2.8% |
| Amounts payable after more than one year | 17 | €412,450 | €384,633 | -€27,817 | -6.7% |
| Financial debts | 170/4 | €412,450 | €384,633 | -€27,817 | -6.7% |
| Amounts payable within one year | 42/48 | €214,383 | €259,957 | +€45,574 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €29,146 | €29,177 | +€31 | +0.1% |
| Trade debts | 44 | €576 | - | -€576 | |
| Suppliers | 440/4 | €576 | - | -€576 | |
| Taxes, remuneration and social security | 45 | - | €29,237 | +€29,237 | |
| Remuneration and social security | 454/9 | - | €29,237 | +€29,237 | |
| Other amounts payable | 47/48 | €184,661 | €201,543 | +€16,882 | +9.1% |
| Remuneration, social security and pensions | 62 | €22,403 | €52,924 | +€30,522 | +136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,764 | €19,570 | -€193 | -1.0% |
| Other operating charges | 640/8 | €3,155 | €11,073 | +€7,918 | +251% |
| Gross operating margin | 9900 | €60,153 | €72,166 | +€12,013 | +20.0% |
| Operating profit (loss) | 9901 | €14,831 | -€11,402 | -€26,233 | |
| Financial charges | 65/66B | €12,119 | €15,884 | +€3,766 | +31.1% |
| Recurring financial charges | 65 | €12,119 | €15,884 | +€3,766 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €2,713 | -€27,286 | -€29,999 | |
| Transfer from deferred taxes | 780 | - | €11,236 | +€11,236 | |
| Income taxes | 67/77 | - | €1,012 | +€1,012 | |
| Profit (loss) for the period | 9904 | €2,713 | -€17,062 | -€19,775 | |
| Transfer from tax-exempt reserves | 789 | - | €26,749 | +€26,749 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,713 | €9,688 | +€6,975 | +257% |
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 20 October 2026 via checked.be.