HONK INVEST: what changed
Two fiscal 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.
HONK INVEST
Largest movements
- Cash -€155,116
down €155,116 (-79.5%), from €195,062 to €39,946
mainly Debts after one year (-€200,000) and Net result for the year (-€16,215)
- Tangible fixed assets -€68,701
down €68,701 (-2.5%), from €2.7m to €2.7m
of which Land and buildings: -€65,856
- Debts after one year -€200,000
down €200,000 (-54.3%), from €368,000 to €168,000
- Financial charges -€4,185
down €4,185 (-34.6%), from €12,095 to €7,910
- Gross operating margin +€1,431
up €1,431 (+2.6%), from €54,235 to €55,666
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.
Cash bridge derived
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 | €2,929,524 | €2,705,742 | -€223,782 | -7.6% |
| Fixed assets | 21/28 | €2,730,412 | €2,661,711 | -€68,701 | -2.5% |
| Tangible fixed assets | 22/27 | €2,730,412 | €2,661,711 | -€68,701 | -2.5% |
| Land and buildings | 22 | €2,690,585 | €2,624,729 | -€65,856 | -2.4% |
| Plant, machinery and equipment | 23 | - | €1,939 | +€1,939 | |
| Furniture and vehicles | 24 | €39,828 | €35,044 | -€4,784 | -12.0% |
| Current assets | 29/58 | €199,112 | €44,031 | -€155,081 | -77.9% |
| Cash at bank and in hand | 54/58 | €195,062 | €39,946 | -€155,116 | -79.5% |
| Deferred charges and accrued income | 490/1 | €4,050 | €4,085 | +€35 | +0.9% |
| Total equity and liabilities | 10/49 | €2,929,524 | €2,705,742 | -€223,782 | -7.6% |
| Equity | 10/15 | €2,499,737 | €2,479,613 | -€20,124 | -0.8% |
| Contributions | 10/11 | €2,447,000 | €2,449,000 | +€2,000 | +0.1% |
| Profit (loss) carried forward | 14 | -€127,560 | -€143,775 | -€16,215 | -12.7% |
| Investment grants | 15 | €180,297 | €174,388 | -€5,909 | -3.3% |
| Provisions and deferred taxes | 16 | €60,099 | €58,129 | -€1,970 | -3.3% |
| Deferred taxes | 168 | €60,099 | €58,129 | -€1,970 | -3.3% |
| Amounts payable | 17/49 | €369,688 | €168,000 | -€201,688 | -54.6% |
| Amounts payable after more than one year | 17 | €368,000 | €168,000 | -€200,000 | -54.3% |
| Financial debts | 170/4 | €368,000 | €168,000 | -€200,000 | -54.3% |
| Amounts payable within one year | 42/48 | €706 | €0 | -€706 | -100.0% |
| Trade debts | 44 | €706 | €0 | -€706 | -100.0% |
| Suppliers | 440/4 | €706 | €0 | -€706 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €982 | €0 | -€982 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,547 | €70,942 | +€395 | +0.6% |
| Other operating charges | 640/8 | €982 | €998 | +€17 | +1.7% |
| Gross operating margin | 9900 | €54,235 | €55,666 | +€1,431 | +2.6% |
| Operating profit (loss) | 9901 | -€17,294 | -€16,275 | +€1,019 | +5.9% |
| Financial income | 75/76B | €5,909 | €6,000 | +€91 | +1.5% |
| Recurring financial income | 75 | €5,909 | €6,000 | +€91 | +1.5% |
| Financial charges | 65/66B | €12,095 | €7,910 | -€4,185 | -34.6% |
| Recurring financial charges | 65 | €12,095 | €7,910 | -€4,185 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,480 | -€18,185 | +€5,295 | +22.6% |
| Transfer from deferred taxes | 780 | €1,970 | €1,970 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€21,510 | -€16,215 | +€5,295 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,510 | -€16,215 | +€5,295 | +24.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.