HONSEM: 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.
HONSEM
Largest movements
- Tangible fixed assets -€17,572
down €17,572 (-39.3%), from €44,693 to €27,121
of which Land and buildings: -€19,560
- Receivables within one year +€11,637
up €11,637 (+1,195%), from €974 to €12,611
of which Trade receivables: +€11,224
- Debts after one year -€54,908
down €54,908 (-11.7%), from €468,477 to €413,569
- Other debts +€25,074
up €25,074 (+7.0%), from €359,232 to €384,306
- Trade debts +€10,364
up €10,364 (+1,415%), from €732 to €11,097
- Gross operating margin +€10,718
up €10,718 (+31.2%), from €34,321 to €45,038
- Financial charges -€8,765
down €8,765 (-29.2%), from €30,022 to €21,257
- Depreciation -€547
down €547 (-2.7%), from €20,200 to €19,653
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 | €904,243 | €894,948 | -€9,295 | -1.0% |
| Fixed assets | 21/28 | €894,693 | €877,121 | -€17,572 | -2.0% |
| Tangible fixed assets | 22/27 | €44,693 | €27,121 | -€17,572 | -39.3% |
| Land and buildings | 22 | €44,693 | €25,133 | -€19,560 | -43.8% |
| Plant, machinery and equipment | 23 | - | €1,989 | +€1,989 | |
| Financial fixed assets | 28 | €850,000 | €850,000 | = | 0.0% |
| Current assets | 29/58 | €9,550 | €17,827 | +€8,276 | +86.7% |
| Stocks and contracts in progress | 3 | €4,885 | €4,643 | -€242 | -5.0% |
| Stocks | 30/36 | €4,885 | €4,643 | -€242 | -5.0% |
| Amounts receivable within one year | 40/41 | €974 | €12,611 | +€11,637 | +1,195% |
| Trade receivables | 40 | €818 | €12,042 | +€11,224 | +1,372% |
| Other amounts receivable | 41 | €156 | €568 | +€413 | +265% |
| Cash at bank and in hand | 54/58 | €3,692 | €573 | -€3,119 | -84.5% |
| Total equity and liabilities | 10/49 | €904,243 | €894,948 | -€9,295 | -1.0% |
| Equity | 10/15 | €16,718 | €20,209 | +€3,491 | +20.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,629 | €16,629 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,769 | €14,769 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,511 | -€15,020 | +€3,491 | +18.9% |
| Amounts payable | 17/49 | €887,525 | €874,739 | -€12,787 | -1.4% |
| Amounts payable after more than one year | 17 | €468,477 | €413,569 | -€54,908 | -11.7% |
| Financial debts | 170/4 | €468,477 | €413,569 | -€54,908 | -11.7% |
| Amounts payable within one year | 42/48 | €417,754 | €453,616 | +€35,862 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €52,628 | €54,908 | +€2,280 | +4.3% |
| Trade debts | 44 | €732 | €11,097 | +€10,364 | +1,415% |
| Suppliers | 440/4 | €732 | €11,097 | +€10,364 | +1,415% |
| Advances received on contracts in progress | 46 | €2,160 | €525 | -€1,635 | -75.7% |
| Taxes, remuneration and social security | 45 | €3,001 | €2,780 | -€221 | -7.4% |
| Taxes | 450/3 | €3,001 | €2,780 | -€221 | -7.4% |
| Other amounts payable | 47/48 | €359,232 | €384,306 | +€25,074 | +7.0% |
| Accrued charges and deferred income | 492/3 | €1,295 | €7,554 | +€6,260 | +483% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,200 | €19,653 | -€547 | -2.7% |
| Other operating charges | 640/8 | €634 | €637 | +€3 | +0.5% |
| Gross operating margin | 9900 | €34,321 | €45,038 | +€10,718 | +31.2% |
| Operating profit (loss) | 9901 | €13,487 | €24,748 | +€11,261 | +83.5% |
| Financial income | 75/76B | €66 | €0 | -€66 | -100% |
| Recurring financial income | 75 | €66 | €0 | -€66 | -100% |
| Financial charges | 65/66B | €30,022 | €21,257 | -€8,765 | -29.2% |
| Recurring financial charges | 65 | €30,022 | €21,257 | -€8,765 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,469 | €3,491 | +€19,960 | |
| Profit (loss) for the period | 9904 | -€16,469 | €3,491 | +€19,960 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,469 | €3,491 | +€19,960 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.