Honu: 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.
Honu
Largest movements
- Receivables within one year -€12,108
down €12,108 (-95.2%), from €12,724 to €616
of which Trade receivables: -€12,584
- Cash -€3,118
down €3,118 (-78.6%), from €3,966 to €848
mainly Net result for the year (-€11,159) and Tax, wage and social debts (-€6,549)
- Current investments -€3,023
down €3,023 (-34.6%), from €8,742 to €5,720
- Tangible fixed assets -€1,676
down €1,676 (-33.9%), from €4,951 to €3,275
- Formation expenses -€803
down €803 (-100%), from €803 to €0
- Profit (loss) carried forward -€11,159
down €11,159 (-75.0%), from €14,875 to €3,716
- Tax, wage and social debts -€6,549
down €6,549 (-100%), from €6,549 to €0
- Trade debts -€6,133
down €6,133 (-89.8%), from €6,833 to €700
- Other debts +€2,917
up €2,917 (+2,312%), from €126 to €3,043
- Gross operating margin -€26,390
down €26,390, from €21,914 to -€4,476
- Taxes -€4,466
down €4,466 (-100%), from €4,466 to €0
- Financial charges +€2,613
up €2,613 (+205%), from €1,274 to €3,887
- Depreciation +€2,004
up €2,004 (+422%), from €475 to €2,480
- Other operating charges +€317
new in 2025: €317
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 | €31,385 | €10,459 | -€20,926 | -66.7% |
| Formation expenses | 20 | €803 | €0 | -€803 | -100% |
| Fixed assets | 21/28 | €4,951 | €3,275 | -€1,676 | -33.9% |
| Tangible fixed assets | 22/27 | €4,951 | €3,275 | -€1,676 | -33.9% |
| Furniture and vehicles | 24 | €4,951 | €3,275 | -€1,676 | -33.9% |
| Current assets | 29/58 | €25,630 | €7,184 | -€18,446 | -72.0% |
| Amounts receivable within one year | 40/41 | €12,724 | €616 | -€12,108 | -95.2% |
| Trade receivables | 40 | €12,724 | €141 | -€12,584 | -98.9% |
| Other amounts receivable | 41 | - | €476 | +€476 | |
| Current investments | 50/53 | €8,742 | €5,720 | -€3,023 | -34.6% |
| Cash at bank and in hand | 54/58 | €3,966 | €848 | -€3,118 | -78.6% |
| Deferred charges and accrued income | 490/1 | €197 | €0 | -€197 | -100% |
| Total equity and liabilities | 10/49 | €31,385 | €10,459 | -€20,926 | -66.7% |
| Equity | 10/15 | €17,875 | €6,716 | -€11,159 | -62.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,875 | €3,716 | -€11,159 | -75.0% |
| Amounts payable | 17/49 | €13,510 | €3,743 | -€9,767 | -72.3% |
| Amounts payable within one year | 42/48 | €13,510 | €3,743 | -€9,767 | -72.3% |
| Financial debts | 43 | €2 | €0 | -€2 | -100% |
| Credit institutions | 430/8 | €2 | €0 | -€2 | -100% |
| Trade debts | 44 | €6,833 | €700 | -€6,133 | -89.8% |
| Suppliers | 440/4 | €6,833 | €700 | -€6,133 | -89.8% |
| Taxes, remuneration and social security | 45 | €6,549 | €0 | -€6,549 | -100% |
| Taxes | 450/3 | €6,549 | €0 | -€6,549 | -100% |
| Other amounts payable | 47/48 | €126 | €3,043 | +€2,917 | +2,312% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €475 | €2,480 | +€2,004 | +422% |
| Other operating charges | 640/8 | - | €317 | +€317 | |
| Gross operating margin | 9900 | €21,914 | -€4,476 | -€26,390 | |
| Operating profit (loss) | 9901 | €21,438 | -€7,272 | -€28,711 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €1,274 | €3,887 | +€2,613 | +205% |
| Recurring financial charges | 65 | €1,274 | €3,887 | +€2,613 | +205% |
| Profit (loss) for the period before taxes | 9903 | €20,174 | -€11,159 | -€31,333 | |
| Income taxes | 67/77 | €4,466 | €0 | -€4,466 | -100% |
| Profit (loss) for the period | 9904 | €15,708 | -€11,159 | -€26,867 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,708 | -€11,159 | -€26,867 |
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 14 October 2026 via checked.be.