HONOS: 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.
HONOS
Largest movements
- Tangible fixed assets +€41,903
up €41,903 (+437.7%), from €9,573 to €51,476
of which Land and buildings: +€42,787
- Cash -€24,611
down €24,611 (-75.3%), from €32,674 to €8,062
mainly Investment in fixed assets (net) (-€55,592) and Other debts (-€23,714)
- Receivables within one year +€775
up €775 (+6.6%), from €11,720 to €12,495
of which Other amounts receivable: +€12,495
- Debts after one year +€37,480
new in 2026: €37,480
- Other debts -€23,714
down €23,714 (-63.0%), from €37,654 to €13,940
- Current portion of long-term debt +€5,296
new in 2026: €5,296
- Tax, wage and social debts -€2,611
down €2,611 (-18.9%), from €13,815 to €11,204
- Depreciation +€11,009
up €11,009 (+410.7%), from €2,680 to €13,689
- Gross operating margin +€4,409
up €4,409 (+7.2%), from €61,537 to €65,946
- Financial charges +€4,141
up €4,141 (+19.9%), from €20,812 to €24,952
- Taxes -€1,083
down €1,083 (-10.5%), from €10,337 to €9,253
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,947 | €72,377 | +€17,430 | +31.7% |
| Fixed assets | 21/28 | €9,573 | €51,476 | +€41,903 | +437.7% |
| Tangible fixed assets | 22/27 | €9,573 | €51,476 | +€41,903 | +437.7% |
| Land and buildings | 22 | - | €42,787 | +€42,787 | |
| Furniture and vehicles | 24 | €9,007 | €8,307 | -€700 | -7.8% |
| Other tangible fixed assets | 26 | €566 | €382 | -€184 | -32.6% |
| Current assets | 29/58 | €45,374 | €20,902 | -€24,472 | -53.9% |
| Amounts receivable within one year | 40/41 | €11,720 | €12,495 | +€775 | +6.6% |
| Trade receivables | 40 | €11,720 | - | -€11,720 | |
| Other amounts receivable | 41 | - | €12,495 | +€12,495 | |
| Cash at bank and in hand | 54/58 | €32,674 | €8,062 | -€24,611 | -75.3% |
| Deferred charges and accrued income | 490/1 | €980 | €344 | -€636 | -64.9% |
| Total equity and liabilities | 10/49 | €54,947 | €72,377 | +€17,430 | +31.7% |
| Equity | 10/15 | €3,440 | €3,758 | +€318 | +9.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €440 | €758 | +€318 | +72.4% |
| Amounts payable | 17/49 | €51,507 | €68,619 | +€17,112 | +33.2% |
| Amounts payable after more than one year | 17 | - | €37,480 | +€37,480 | |
| Financial debts | 170/4 | - | €37,480 | +€37,480 | |
| Amounts payable within one year | 42/48 | €51,507 | €31,139 | -€20,368 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,296 | +€5,296 | |
| Trade debts | 44 | €38 | €699 | +€661 | +1739.7% |
| Suppliers | 440/4 | €38 | €699 | +€661 | +1739.7% |
| Taxes, remuneration and social security | 45 | €13,815 | €11,204 | -€2,611 | -18.9% |
| Taxes | 450/3 | €13,815 | €11,204 | -€2,611 | -18.9% |
| Other amounts payable | 47/48 | €37,654 | €13,940 | -€23,714 | -63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,680 | €13,689 | +€11,009 | +410.7% |
| Other operating charges | 640/8 | €656 | €751 | +€95 | +14.5% |
| Gross operating margin | 9900 | €61,537 | €65,946 | +€4,409 | +7.2% |
| Operating profit (loss) | 9901 | €58,201 | €51,506 | -€6,695 | -11.5% |
| Financial income | 75/76B | €4 | €18 | +€13 | +305.7% |
| Recurring financial income | 75 | €4 | €18 | +€13 | +305.7% |
| Financial charges | 65/66B | €20,812 | €24,952 | +€4,141 | +19.9% |
| Recurring financial charges | 65 | €20,812 | €24,952 | +€4,141 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €37,393 | €26,571 | -€10,822 | -28.9% |
| Income taxes | 67/77 | €10,337 | €9,253 | -€1,083 | -10.5% |
| Profit (loss) for the period | 9904 | €27,056 | €17,318 | -€9,738 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,056 | €17,318 | -€9,738 | -36.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.