HONORE WIM: 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.
HONORE WIM
Largest movements
- Current investments +€443,114
up €443,114 (+37.7%), from €1.2m to €1.6m
- Cash -€194,372
down €194,372 (-14.9%), from €1.3m to €1.1m
mainly Current investments (-€443,114) and Receivables within one year (-€63,105)
- Receivables within one year +€63,105
up €63,105 (+21.2%), from €297,552 to €360,657
of which Trade receivables: +€64,022
- Reserves +€279,500
up €279,500 (+13.7%), from €2.0m to €2.3m
of which Distributable reserves: +€279,500
- Trade debts +€48,554
up €48,554 (+1,059%), from €4,585 to €53,139
- Gross operating margin +€62,011
up €62,011 (+16.6%), from €373,346 to €435,357
- Financial charges -€34,095
down €34,095 (-49.1%), from €69,473 to €35,378
- Financial income -€25,315
down €25,315 (-43.2%), from €58,589 to €33,275
- Taxes +€22,006
up €22,006 (+19.9%), from €110,683 to €132,689
- Depreciation -€5,172
down €5,172 (-23.1%), from €22,368 to €17,196
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 | €2,800,919 | €3,095,625 | +€294,706 | +10.5% |
| Fixed assets | 21/28 | €22,383 | €5,187 | -€17,196 | -76.8% |
| Tangible fixed assets | 22/27 | €22,358 | €5,162 | -€17,196 | -76.9% |
| Plant, machinery and equipment | 23 | €447 | €130 | -€317 | -70.9% |
| Furniture and vehicles | 24 | €21,911 | €5,032 | -€16,880 | -77.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €2,778,536 | €3,090,438 | +€311,902 | +11.2% |
| Amounts receivable within one year | 40/41 | €297,552 | €360,657 | +€63,105 | +21.2% |
| Trade receivables | 40 | €296,632 | €360,654 | +€64,022 | +21.6% |
| Other amounts receivable | 41 | €920 | €3 | -€917 | -99.7% |
| Current investments | 50/53 | €1,174,943 | €1,618,057 | +€443,114 | +37.7% |
| Cash at bank and in hand | 54/58 | €1,304,706 | €1,110,334 | -€194,372 | -14.9% |
| Deferred charges and accrued income | 490/1 | €1,335 | €1,390 | +€55 | +4.1% |
| Total equity and liabilities | 10/49 | €2,800,919 | €3,095,625 | +€294,706 | +10.5% |
| Equity | 10/15 | €2,093,086 | €2,372,917 | +€279,831 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,042,769 | €2,322,269 | +€279,500 | +13.7% |
| Tax-exempt reserves | 132 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €2,022,769 | €2,302,269 | +€279,500 | +13.8% |
| Profit (loss) carried forward | 14 | €31,717 | €32,048 | +€331 | +1.0% |
| Amounts payable | 17/49 | €707,833 | €722,708 | +€14,875 | +2.1% |
| Amounts payable within one year | 42/48 | €676,628 | €711,908 | +€35,280 | +5.2% |
| Trade debts | 44 | €4,585 | €53,139 | +€48,554 | +1,059% |
| Suppliers | 440/4 | €4,585 | €53,139 | +€48,554 | +1,059% |
| Taxes, remuneration and social security | 45 | €83,131 | €80,258 | -€2,873 | -3.5% |
| Taxes | 450/3 | €83,131 | €80,258 | -€2,873 | -3.5% |
| Other amounts payable | 47/48 | €588,912 | €578,511 | -€10,402 | -1.8% |
| Accrued charges and deferred income | 492/3 | €31,205 | €10,800 | -€20,405 | -65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,368 | €17,196 | -€5,172 | -23.1% |
| Other operating charges | 640/8 | €1,599 | €3,538 | +€1,939 | +121% |
| Gross operating margin | 9900 | €373,346 | €435,357 | +€62,011 | +16.6% |
| Operating profit (loss) | 9901 | €349,380 | €414,623 | +€65,243 | +18.7% |
| Financial income | 75/76B | €58,589 | €33,275 | -€25,315 | -43.2% |
| Recurring financial income | 75 | €58,589 | €33,275 | -€25,315 | -43.2% |
| Financial charges | 65/66B | €69,473 | €35,378 | -€34,095 | -49.1% |
| Recurring financial charges | 65 | €69,473 | €35,378 | -€34,095 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €338,496 | €412,520 | +€74,024 | +21.9% |
| Income taxes | 67/77 | €110,683 | €132,689 | +€22,006 | +19.9% |
| Profit (loss) for the period | 9904 | €227,814 | €279,831 | +€52,017 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €227,814 | €279,831 | +€52,017 | +22.8% |
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 17 October 2026 via checked.be.