HONG FU: 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.
HONG FU
Largest movements
- Receivables within one year -€56,070
down €56,070 (-79.5%), from €70,561 to €14,491
of which Trade receivables: -€29,958
- Cash -€49,690
down €49,690 (-34.5%), from €144,205 to €94,515
mainly Contributions, distributions and other (-€121,000) and Investment in fixed assets (net) (-€120,240)
- Tangible fixed assets +€38,899
up €38,899 (+10.5%), from €369,875 to €408,774
of which Furniture and vehicles: +€38,648
- Current investments +€32,770
up €32,770 (+13.1%), from €250,000 to €282,770
- Stocks and contracts +€29,426
up €29,426 (+166%), from €17,680 to €47,106
- Other debts +€49,031
up €49,031 (+392%), from €12,500 to €61,531
- Trade debts -€33,929
down €33,929 (-64.2%), from €52,826 to €18,896
- Tax, wage and social debts -€31,198
down €31,198 (-36.6%), from €85,254 to €54,057
of which Taxes: -€32,612
- Reserves +€29,000
up €29,000 (+4.6%), from €629,810 to €658,810
- Debts after one year -€11,435
down €11,435 (-87.9%), from €13,006 to €1,571
- Gross operating margin -€84,086
down €84,086 (-18.1%), from €465,324 to €381,238
- Taxes -€33,161
down €33,161 (-34.7%), from €95,677 to €62,516
- Depreciation +€15,227
up €15,227 (+23.0%), from €66,115 to €81,342
- Staff costs +€10,574
up €10,574 (+13.9%), from €76,103 to €86,678
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 | €860,294 | €854,181 | -€6,112 | -0.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €369,875 | €408,774 | +€38,899 | +10.5% |
| Tangible fixed assets | 22/27 | €369,875 | €408,774 | +€38,899 | +10.5% |
| Plant, machinery and equipment | 23 | €43,339 | €63,762 | +€20,424 | +47.1% |
| Furniture and vehicles | 24 | €98,996 | €137,644 | +€38,648 | +39.0% |
| Other tangible fixed assets | 26 | €227,541 | €207,368 | -€20,173 | -8.9% |
| Current assets | 29/58 | €490,418 | €445,407 | -€45,011 | -9.2% |
| Stocks and contracts in progress | 3 | €17,680 | €47,106 | +€29,426 | +166% |
| Stocks | 30/36 | €17,680 | €47,106 | +€29,426 | +166% |
| Amounts receivable within one year | 40/41 | €70,561 | €14,491 | -€56,070 | -79.5% |
| Trade receivables | 40 | €30,385 | €427 | -€29,958 | -98.6% |
| Other amounts receivable | 41 | €40,176 | €14,065 | -€26,112 | -65.0% |
| Current investments | 50/53 | €250,000 | €282,770 | +€32,770 | +13.1% |
| Cash at bank and in hand | 54/58 | €144,205 | €94,515 | -€49,690 | -34.5% |
| Deferred charges and accrued income | 490/1 | €7,972 | €6,525 | -€1,447 | -18.2% |
| Total equity and liabilities | 10/49 | €860,294 | €854,181 | -€6,112 | -0.7% |
| Equity | 10/15 | €673,293 | €702,891 | +€29,598 | +4.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €629,810 | €658,810 | +€29,000 | +4.6% |
| Distributable reserves | 133 | €629,810 | €658,810 | +€29,000 | +4.6% |
| Profit (loss) carried forward | 14 | €18,483 | €19,081 | +€598 | +3.2% |
| Amounts payable | 17/49 | €187,001 | €151,290 | -€35,711 | -19.1% |
| Amounts payable after more than one year | 17 | €13,006 | €1,571 | -€11,435 | -87.9% |
| Financial debts | 170/4 | €13,006 | €1,571 | -€11,435 | -87.9% |
| Amounts payable within one year | 42/48 | €170,245 | €145,919 | -€24,326 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €19,665 | €11,435 | -€8,230 | -41.9% |
| Trade debts | 44 | €52,826 | €18,896 | -€33,929 | -64.2% |
| Suppliers | 440/4 | €52,826 | €18,896 | -€33,929 | -64.2% |
| Taxes, remuneration and social security | 45 | €85,254 | €54,057 | -€31,198 | -36.6% |
| Taxes | 450/3 | €71,273 | €38,661 | -€32,612 | -45.8% |
| Remuneration and social security | 454/9 | €13,981 | €15,396 | +€1,414 | +10.1% |
| Other amounts payable | 47/48 | €12,500 | €61,531 | +€49,031 | +392% |
| Accrued charges and deferred income | 492/3 | €3,750 | €3,800 | +€50 | +1.3% |
| Remuneration, social security and pensions | 62 | €76,103 | €86,678 | +€10,574 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,115 | €81,342 | +€15,227 | +23.0% |
| Other operating charges | 640/8 | €3,639 | €2,670 | -€968 | -26.6% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Gross operating margin | 9900 | €465,324 | €381,238 | -€84,086 | -18.1% |
| Operating profit (loss) | 9901 | €319,467 | €210,548 | -€108,919 | -34.1% |
| Financial income | 75/76B | €8,334 | €5,913 | -€2,421 | -29.0% |
| Recurring financial income | 75 | €8,334 | €5,913 | -€2,421 | -29.0% |
| Financial charges | 65/66B | €3,755 | €3,347 | -€409 | -10.9% |
| Recurring financial charges | 65 | €3,755 | €3,347 | -€409 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €324,046 | €213,115 | -€110,931 | -34.2% |
| Income taxes | 67/77 | €95,677 | €62,516 | -€33,161 | -34.7% |
| Profit (loss) for the period | 9904 | €228,369 | €150,598 | -€77,771 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €228,369 | €150,598 | -€77,771 | -34.1% |
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 24 October 2026 via checked.be.