HOUBEN MANAGEMENT: what changed
HOUBEN MANAGEMENT
Largest movements
- Cash +€1.2m
up €1.2m (+408,791%), from €303 to €1.2m
mainly Investment in fixed assets (net) (+€980,954) and Net result for the year (+€281,379)
- Financial fixed assets -€980,954
down €980,954 (-100%), from €980,954 to €0
- Receivables within one year +€28,924
up €28,924 (+1,811%), from €1,597 to €30,521
of which Trade receivables: +€30,097
- Reserves +€281,379
up €281,379 (+33.3%), from €845,427 to €1.1m
- Other debts +€22,540
up €22,540 (+30.6%), from €73,557 to €96,097
- Short-term financial debts -€18,575
down €18,575 (-92.9%), from €20,000 to €1,425
- Tax, wage and social debts -€18,343
down €18,343 (-87.4%), from €20,986 to €2,643
of which Remuneration and social security: -€15,779
- Accrued charges and deferred income +€17,435
up €17,435 (+7,717%), from €226 to €17,661
- Financial income +€311,146
up €311,146, from €0 to €311,146
of which Financial income: +€311,146
- Gross operating margin -€89,817
down €89,817 (-44.6%), from €201,500 to €111,682
- Staff costs +€35,523
up €35,523 (+52.8%), from €67,258 to €102,781
- Taxes -€6,662
down €6,662 (-17.6%), from €37,849 to €31,187
- Financial charges -€3,772
down €3,772 (-40.5%), from €9,314 to €5,542
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €985,280 | €1,272,835 | +€287,555 | +29.2% |
| Fixed assets | 21/28 | €981,568 | €291 | -€981,277 | -100.0% |
| Tangible fixed assets | 22/27 | €613 | €291 | -€322 | -52.6% |
| Furniture and vehicles | 24 | €613 | €291 | -€322 | -52.6% |
| Financial fixed assets | 28 | €980,954 | €0 | -€980,954 | -100% |
| Current assets | 29/58 | €3,713 | €1,272,544 | +€1.3m | +34,174% |
| Amounts receivable within one year | 40/41 | €1,597 | €30,521 | +€28,924 | +1,811% |
| Trade receivables | 40 | €424 | €30,521 | +€30,097 | +7,100% |
| Other amounts receivable | 41 | €1,173 | €0 | -€1,173 | -100% |
| Cash at bank and in hand | 54/58 | €303 | €1,240,044 | +€1.2m | +408,791% |
| Deferred charges and accrued income | 490/1 | €1,813 | €1,980 | +€167 | +9.2% |
| Total equity and liabilities | 10/49 | €985,280 | €1,272,835 | +€287,555 | +29.2% |
| Equity | 10/15 | €851,627 | €1,133,006 | +€281,379 | +33.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €845,427 | €1,126,806 | +€281,379 | +33.3% |
| Distributable reserves | 133 | €845,427 | €1,126,806 | +€281,379 | +33.3% |
| Amounts payable | 17/49 | €133,654 | €139,829 | +€6,175 | +4.6% |
| Amounts payable within one year | 42/48 | €133,428 | €122,169 | -€11,259 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €18,277 | €11,280 | -€6,997 | -38.3% |
| Financial debts | 43 | €20,000 | €1,425 | -€18,575 | -92.9% |
| Credit institutions | 430/8 | €20,000 | €1,425 | -€18,575 | -92.9% |
| Trade debts | 44 | €609 | €10,724 | +€10,115 | +1,661% |
| Suppliers | 440/4 | €609 | €10,724 | +€10,115 | +1,661% |
| Taxes, remuneration and social security | 45 | €20,986 | €2,643 | -€18,343 | -87.4% |
| Taxes | 450/3 | €5,207 | €2,643 | -€2,564 | -49.2% |
| Remuneration and social security | 454/9 | €15,779 | €0 | -€15,779 | -100% |
| Other amounts payable | 47/48 | €73,557 | €96,097 | +€22,540 | +30.6% |
| Accrued charges and deferred income | 492/3 | €226 | €17,661 | +€17,435 | +7,717% |
| Non-recurring operating income | 76A | €17,285 | €0 | -€17,285 | -100% |
| Remuneration, social security and pensions | 62 | €67,258 | €102,781 | +€35,523 | +52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €322 | €322 | = | 0.0% |
| Other operating charges | 640/8 | €1,891 | €1,617 | -€274 | -14.5% |
| Gross operating margin | 9900 | €201,500 | €111,682 | -€89,817 | -44.6% |
| Operating profit (loss) | 9901 | €132,029 | €6,962 | -€125,067 | -94.7% |
| Financial income | 75/76B | €0 | €311,146 | +€311,146 | |
| Recurring financial income | 75 | €0 | €311,146 | +€311,146 | |
| Non-recurring financial income | 76B | - | €311,146 | +€311,146 | |
| Financial charges | 65/66B | €9,314 | €5,542 | -€3,772 | -40.5% |
| Recurring financial charges | 65 | €9,314 | €5,542 | -€3,772 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €122,715 | €312,567 | +€189,851 | +155% |
| Income taxes | 67/77 | €37,849 | €31,187 | -€6,662 | -17.6% |
| Profit (loss) for the period | 9904 | €84,867 | €281,379 | +€196,513 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €84,867 | €281,379 | +€196,513 | +232% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.