HOUBEN: 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.
What changed
HOUBEN
NACE 41.003, General construction of other non-residential buildings
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€953,534
2024 · €1.5m-€552,455
Equity
€15.9m
2024 · €15.7m+€253,545
Cash
€12.5m
2024 · €10.2m+€2.3m
Balance sheet total
€60.2m
2024 · €58.3m+€1.9m
Largest movements
Assets
- Cash +€2.3m
up €2.3m (+22.6%), from €10.2m to €12.5m
mainly Other debts (+€6.7m) and Advances received (+€2.2m)
- Intangible fixed assets +€1.4m
up €1.4m (+1437.1%), from €94,342 to €1.5m
- Receivables within one year -€1.1m
down €1.1m (-2.8%), from €38.4m to €37.3m
of which Other amounts receivable: -€2.7m
- Stocks and contracts -€623,557
down €623,557 (-12.5%), from €5.0m to €4.4m
of which Stocks: -€1.4m
Equity and liabilities
- Other debts +€6.7m
up €6.7m (+897.0%), from €750,000 to €7.5m
- Short-term financial debts -€4.0m
down €4.0m (-58.8%), from €6.9m to €2.8m
- Trade debts -€2.7m
down €2.7m (-9.3%), from €28.8m to €26.1m
- Advances received +€2.2m
up €2.2m (+82.0%), from €2.6m to €4.8m
- Tax, wage and social debts -€1.0m
down €1.0m (-53.0%), from €1.9m to €912,052
of which Taxes: -€1.2m
Income statement
- Goods and materials +€21.4m
up €21.4m (+23.8%), from €89.8m to €111.2m
of which Purchases: +€22.7m
- Turnover +€20.6m
up €20.6m (+17.5%), from €117.5m to €138.1m
- Services and other goods +€3.7m
up €3.7m (+20.4%), from €18.1m to €21.7m
- Staff costs +€1.5m
up €1.5m (+19.2%), from €7.7m to €9.1m
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.
Result 2024
€1.5m
Turnover
+€20.6m
Other operating income
+€19,482
Goods and materials
-€21.4m
Services and other goods
-€3.7m
Staff costs
-€1.5m
Depreciation
-€5,540
Write-downs
-€435,852
Provisions
-€490,929
Other operating charges
-€73,282
Other operating items
+€6.0m
Financial income
+€79,935
Financial charges
+€60,111
Taxes
+€219,529
Result 2025
€953,534
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.
From operations
+€8.5m
Investment
-€1.5m
Financing
-€4.7m
Cash 2024
€10.2m
From operations (derived)
+€8.5m
Net result for the year
+€953,534
Depreciation
+€256,393
Stocks and contracts
+€623,557
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€41,331
Provisions
+€246,199
Trade debts
-€2.7m
Tax, wage and social debts
-€1.0m
Advances received
+€2.2m
Other debts
+€6.7m
Accrued charges and deferred income
+€244,985
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Current investments
-€26,602
Financing
-€4.7m
Current portion of long-term debt
+€4,964
Short-term financial debts
-€4.0m
Contributions, distributions and other
-€699,989
Cash 2025
€12.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,308,971 | €60,204,197 | +€1.9m | +3.3% |
| Fixed assets | 21/28 | €1,999,323 | €3,220,465 | +€1.2m | +61.1% |
| Intangible fixed assets | 21 | €94,342 | €1,450,155 | +€1.4m | +1437.1% |
| Tangible fixed assets | 22/27 | €590,807 | €493,101 | -€97,706 | -16.5% |
| Plant, machinery and equipment | 23 | €267,863 | €215,554 | -€52,309 | -19.5% |
| Furniture and vehicles | 24 | €262,118 | €227,186 | -€34,932 | -13.3% |
| Other tangible fixed assets | 26 | €60,826 | €50,361 | -€10,465 | -17.2% |
| Financial fixed assets | 28 | €1,314,173 | €1,277,210 | -€36,964 | -2.8% |
| Companies linked by participating interests | 282/3 | €331,646 | €329,802 | -€1,844 | -0.6% |
| Participating interests | 282 | €331,646 | €329,802 | -€1,844 | -0.6% |
| Other financial fixed assets | 284/8 | €982,527 | €947,408 | -€35,120 | -3.6% |
| Shares | 284 | €92,998 | €90,348 | -€2,650 | -2.8% |
| Amounts receivable and cash guarantees | 285/8 | €889,530 | €857,060 | -€32,470 | -3.7% |
| Current assets | 29/58 | €56,309,648 | €56,983,732 | +€674,084 | +1.2% |
| Stocks and contracts in progress | 3 | €5,007,819 | €4,384,262 | -€623,557 | -12.5% |
| Stocks | 30/36 | €4,486,518 | €3,063,737 | -€1.4m | -31.7% |
| Raw materials and consumables | 30/31 | €599,333 | €1,987,769 | +€1.4m | +231.7% |
| Work in progress | 32 | €1,411,267 | €814,803 | -€596,464 | -42.3% |
| Property held for sale | 35 | €2,214,753 | €0 | -€2.2m | -100.0% |
| Advance payments | 36 | €261,165 | €261,165 | = | 0.0% |
| Contracts in progress | 37 | €521,302 | €1,320,525 | +€799,224 | +153.3% |
| Amounts receivable within one year | 40/41 | €38,353,256 | €37,287,787 | -€1.1m | -2.8% |
| Trade receivables | 40 | €32,943,510 | €34,554,619 | +€1.6m | +4.9% |
| Other amounts receivable | 41 | €5,409,746 | €2,733,168 | -€2.7m | -49.5% |
| Current investments | 50/53 | €2,376,607 | €2,403,209 | +€26,602 | +1.1% |
| Other investments | 51/53 | €2,376,607 | €2,403,209 | +€26,602 | +1.1% |
| Cash at bank and in hand | 54/58 | €10,177,776 | €12,472,953 | +€2.3m | +22.6% |
| Deferred charges and accrued income | 490/1 | €394,190 | €435,521 | +€41,331 | +10.5% |
| Total equity and liabilities | 10/49 | €58,308,971 | €60,204,197 | +€1.9m | +3.3% |
| Equity | 10/15 | €15,671,782 | €15,925,327 | +€253,545 | +1.6% |
| Contributions | 10/11 | €2,007,938 | €2,007,938 | = | 0.0% |
| Capital | 10 | €2,007,938 | €2,007,938 | = | 0.0% |
| Issued capital | 100 | €2,007,938 | €2,007,938 | = | 0.0% |
| Reserves | 13 | €2,738,250 | €2,738,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,794 | €200,794 | = | 0.0% |
| Legal reserve | 130 | €200,794 | €200,794 | = | 0.0% |
| Tax-exempt reserves | 132 | €999,875 | €999,875 | = | 0.0% |
| Distributable reserves | 133 | €1,537,581 | €1,537,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,925,594 | €11,179,140 | +€253,545 | +2.3% |
| Provisions and deferred taxes | 16 | €1,175,317 | €1,421,515 | +€246,199 | +20.9% |
| Provisions for liabilities and charges | 160/5 | €1,175,317 | €1,421,515 | +€246,199 | +20.9% |
| Environmental obligations | 163 | - | €6,500 | +€6,500 | |
| Other liabilities and charges | 164/5 | €1,175,317 | €1,415,015 | +€239,699 | +20.4% |
| Amounts payable | 17/49 | €41,461,872 | €42,857,354 | +€1.4m | +3.4% |
| Amounts payable within one year | 42/48 | €41,381,872 | €42,532,370 | +€1.2m | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €412,636 | €417,600 | +€4,964 | +1.2% |
| Financial debts | 43 | €6,867,220 | €2,832,234 | -€4.0m | -58.8% |
| Credit institutions | 430/8 | €6,867,220 | €2,832,234 | -€4.0m | -58.8% |
| Trade debts | 44 | €28,781,585 | €26,108,358 | -€2.7m | -9.3% |
| Suppliers | 440/4 | €28,781,585 | €26,108,358 | -€2.7m | -9.3% |
| Advances received on contracts in progress | 46 | €2,628,423 | €4,784,883 | +€2.2m | +82.0% |
| Taxes, remuneration and social security | 45 | €1,942,008 | €912,052 | -€1.0m | -53.0% |
| Taxes | 450/3 | €1,487,108 | €260,047 | -€1.2m | -82.5% |
| Remuneration and social security | 454/9 | €454,900 | €652,005 | +€197,105 | +43.3% |
| Other amounts payable | 47/48 | €750,000 | €7,477,242 | +€6.7m | +897.0% |
| Accrued charges and deferred income | 492/3 | €80,000 | €324,985 | +€244,985 | +306.2% |
| Operating income | 70/76A | €117,570,618 | €144,217,700 | +€26.6m | +22.7% |
| Turnover | 70 | €117,501,744 | €138,105,411 | +€20.6m | +17.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€856,455 | €4,500,307 | +€5.4m | |
| Own construction capitalised | 72 | - | €637,141 | +€637,141 | |
| Other operating income | 74 | €921,716 | €941,199 | +€19,482 | +2.1% |
| Non-recurring operating income | 76A | €3,612 | €33,643 | +€30,031 | +831.4% |
| Operating charges | 60/66A | €115,193,823 | €142,752,935 | +€27.6m | +23.9% |
| Goods for resale, raw materials and consumables | 60 | €89,831,585 | €111,219,729 | +€21.4m | +23.8% |
| Purchases | 600/8 | €89,975,974 | €112,647,024 | +€22.7m | +25.2% |
| Change in stocks: decrease (increase) | 609 | -€144,389 | -€1,427,295 | -€1.3m | -888.5% |
| Services and other goods | 61 | €18,058,490 | €21,747,870 | +€3.7m | +20.4% |
| Remuneration, social security and pensions | 62 | €7,668,129 | €9,144,115 | +€1.5m | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,853 | €256,393 | +€5,540 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€435,122 | €730 | +€435,852 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€251,231 | €239,699 | +€490,929 | |
| Other operating charges | 640/8 | €71,118 | €144,400 | +€73,282 | +103.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €2,376,794 | €1,464,764 | -€912,030 | -38.4% |
| Financial income | 75/76B | €295,906 | €375,841 | +€79,935 | +27.0% |
| Recurring financial income | 75 | €295,906 | €250,841 | -€45,065 | -15.2% |
| Income from financial fixed assets | 750 | €10,397 | €12,347 | +€1,950 | +18.8% |
| Income from current assets | 751 | €17,392 | €44,384 | +€26,992 | +155.2% |
| Other financial income | 752/9 | €268,118 | €194,110 | -€74,008 | -27.6% |
| Non-recurring financial income | 76B | - | €125,000 | +€125,000 | |
| Financial charges | 65/66B | €547,289 | €487,178 | -€60,111 | -11.0% |
| Recurring financial charges | 65 | €547,289 | €487,178 | -€60,111 | -11.0% |
| Debt charges | 650 | €487,076 | €351,397 | -€135,679 | -27.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€26,467 | -€141 | +€26,326 | +99.5% |
| Other financial charges | 652/9 | €86,681 | €135,922 | +€49,242 | +56.8% |
| Profit (loss) for the period before taxes | 9903 | €2,125,412 | €1,353,428 | -€771,984 | -36.3% |
| Income taxes | 67/77 | €619,423 | €399,893 | -€219,529 | -35.4% |
| Taxes | 670/3 | €619,423 | €399,893 | -€219,529 | -35.4% |
| Profit (loss) for the period | 9904 | €1,505,989 | €953,534 | -€552,455 | -36.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,505,989 | €953,534 | -€552,455 | -36.7% |
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 12 October 2026 via checked.be.