HONHON Martine: 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.
HONHON Martine
Largest movements
- Stocks and contracts -€15,576
down €15,576 (-52.1%), from €29,912 to €14,336
- Deferred charges and accrued income +€10,679
up €10,679 (+280%), from €3,814 to €14,493
- Cash +€8,213
up €8,213 (+23.2%), from €35,461 to €43,674
mainly Stocks and contracts (+€15,576) and Depreciation (+€3,929)
- Receivables within one year -€3,853
down €3,853 (-27.5%), from €14,021 to €10,168
of which Trade receivables: -€3,351
- Intangible fixed assets -€1,126
down €1,126 (-25.7%), from €4,380 to €3,254
- Tax, wage and social debts +€3,005
up €3,005 (+6.1%), from €49,240 to €52,244
of which Taxes: +€3,656
- Trade debts -€2,681
down €2,681 (-6.9%), from €39,019 to €36,339
- Short-term financial debts -€1,866
down €1,866 (-24.7%), from €7,545 to €5,679
- Profit (loss) carried forward -€1,250
down €1,250 (-5.5%), from -€22,942 to -€24,193
- Gross operating margin -€27,488
down €27,488 (-8.5%), from €323,871 to €296,382
- Financial charges -€13,078
down €13,078 (-66.8%), from €19,584 to €6,506
of which Non-recurring financial charges: -€14,522
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 | €97,248 | €94,783 | -€2,465 | -2.5% |
| Fixed assets | 21/28 | €14,041 | €12,112 | -€1,929 | -13.7% |
| Intangible fixed assets | 21 | €4,380 | €3,254 | -€1,126 | -25.7% |
| Tangible fixed assets | 22/27 | €9,363 | €8,561 | -€802 | -8.6% |
| Land and buildings | 22 | €4,370 | €3,467 | -€903 | -20.7% |
| Plant, machinery and equipment | 23 | €2,288 | €3,515 | +€1,227 | +53.6% |
| Furniture and vehicles | 24 | €2,705 | €1,579 | -€1,127 | -41.6% |
| Financial fixed assets | 28 | €297 | €297 | = | 0.0% |
| Current assets | 29/58 | €83,207 | €82,671 | -€536 | -0.6% |
| Stocks and contracts in progress | 3 | €29,912 | €14,336 | -€15,576 | -52.1% |
| Stocks | 30/36 | €29,912 | €14,336 | -€15,576 | -52.1% |
| Amounts receivable within one year | 40/41 | €14,021 | €10,168 | -€3,853 | -27.5% |
| Trade receivables | 40 | €3,659 | €307 | -€3,351 | -91.6% |
| Other amounts receivable | 41 | €10,362 | €9,861 | -€501 | -4.8% |
| Cash at bank and in hand | 54/58 | €35,461 | €43,674 | +€8,213 | +23.2% |
| Deferred charges and accrued income | 490/1 | €3,814 | €14,493 | +€10,679 | +280% |
| Total equity and liabilities | 10/49 | €97,248 | €94,783 | -€2,465 | -2.5% |
| Equity | 10/15 | -€4,342 | -€5,593 | -€1,250 | -28.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,942 | -€24,193 | -€1,250 | -5.5% |
| Amounts payable | 17/49 | €101,590 | €100,375 | -€1,215 | -1.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €101,590 | €100,375 | -€1,215 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €7,545 | €5,679 | -€1,866 | -24.7% |
| Credit institutions | 430/8 | €7,545 | €5,679 | -€1,866 | -24.7% |
| Trade debts | 44 | €39,019 | €36,339 | -€2,681 | -6.9% |
| Suppliers | 440/4 | €39,019 | €36,339 | -€2,681 | -6.9% |
| Taxes, remuneration and social security | 45 | €49,240 | €52,244 | +€3,005 | +6.1% |
| Taxes | 450/3 | €14,852 | €18,508 | +€3,656 | +24.6% |
| Remuneration and social security | 454/9 | €34,388 | €33,736 | -€651 | -1.9% |
| Other amounts payable | 47/48 | €5,786 | €6,113 | +€327 | +5.7% |
| Remuneration, social security and pensions | 62 | €285,815 | €285,894 | +€79 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,793 | €3,929 | +€136 | +3.6% |
| Other operating charges | 640/8 | €2,022 | €1,671 | -€351 | -17.4% |
| Gross operating margin | 9900 | €323,871 | €296,382 | -€27,488 | -8.5% |
| Operating profit (loss) | 9901 | €32,241 | €4,888 | -€27,352 | -84.8% |
| Financial income | 75/76B | €47 | €725 | +€678 | +1,458% |
| Recurring financial income | 75 | €47 | €725 | +€678 | +1,458% |
| Financial charges | 65/66B | €19,584 | €6,506 | -€13,078 | -66.8% |
| Recurring financial charges | 65 | €5,063 | €6,506 | +€1,443 | +28.5% |
| Non-recurring financial charges | 66B | €14,522 | €0 | -€14,522 | -100% |
| Profit (loss) for the period before taxes | 9903 | €12,703 | -€893 | -€13,596 | |
| Income taxes | 67/77 | €120 | €358 | +€238 | +198% |
| Profit (loss) for the period | 9904 | €12,583 | -€1,250 | -€13,833 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,583 | -€1,250 | -€13,833 |
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 28 October 2026 via checked.be.