HOUBEN RED: what changed
What changed
HOUBEN RED
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
-€111,915
2024 · -€1,875-€110,039
Equity
-€59,519
2024 · €52,396-€111,915
Cash
€63,683
2024 · €55,688+€7,995
Balance sheet total
€3.4m
2024 · €3.4m-€3,918
Largest movements
Assets
- Stocks and contracts -€2.0m
down €2.0m (-60.2%), from €3.4m to €1.3m
- Receivables within one year +€2.0m
up €2.0m (+67,825%), from €2,965 to €2.0m
of which Other amounts receivable: +€2.0m
Equity and liabilities
- Debts after one year +€2.0m
new in 2025: €2.0m
- Short-term financial debts -€1.2m
down €1.2m (-69.0%), from €1.8m to €561,353
- Advances received -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Other debts +€271,861
up €271,861 (+341%), from €79,700 to €351,561
- Trade debts +€121,843
up €121,843 (+29.5%), from €412,976 to €534,819
Income statement
- Gross operating margin -€76,990
down €76,990 (-5,399%), from -€1,426 to -€78,416
- Financial charges +€32,438
new in 2025: €32,438
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.
Result 2024
-€1,875
Gross operating margin
-€76,990
Other operating charges
-€611
Financial charges
-€32,438
Result 2025
-€111,915
lowers the result
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.
From operations
-€772,007
Investment
-€2,500
Financing
+€782,502
Cash 2024
€55,688
From operations (derived)
-€772,007
Net result for the year
-€111,915
Stocks and contracts
+€2.0m
Receivables within one year
-€2.0m
Trade debts
+€121,843
Advances received
-€1.1m
Other debts
+€271,861
Investment (derived)
-€2,500
Investment in fixed assets (net)
-€2,500
Financing
+€782,502
Debts after one year
+€2.0m
Short-term financial debts
-€1.2m
Cash 2025
€63,683
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,424,570 | €3,420,652 | -€3,918 | -0.1% |
| Fixed assets | 21/28 | - | €2,500 | +€2,500 | |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €3,424,570 | €3,418,152 | -€6,418 | -0.2% |
| Stocks and contracts in progress | 3 | €3,365,917 | €1,340,751 | -€2.0m | -60.2% |
| Stocks | 30/36 | €3,365,917 | €1,340,751 | -€2.0m | -60.2% |
| Amounts receivable within one year | 40/41 | €2,965 | €2,013,718 | +€2.0m | +67,825% |
| Trade receivables | 40 | - | €1,917 | +€1,917 | |
| Other amounts receivable | 41 | €2,965 | €2,011,801 | +€2.0m | +67,761% |
| Cash at bank and in hand | 54/58 | €55,688 | €63,683 | +€7,995 | +14.4% |
| Total equity and liabilities | 10/49 | €3,424,570 | €3,420,652 | -€3,918 | -0.1% |
| Equity | 10/15 | €52,396 | -€59,519 | -€111,915 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,104 | -€121,019 | -€111,915 | -1,229% |
| Amounts payable | 17/49 | €3,372,174 | €3,480,171 | +€107,997 | +3.2% |
| Amounts payable after more than one year | 17 | - | €2,032,438 | +€2.0m | |
| Financial debts | 170/4 | - | €2,032,438 | +€2.0m | |
| Amounts payable within one year | 42/48 | €3,372,174 | €1,447,733 | -€1.9m | -57.1% |
| Financial debts | 43 | €1,811,289 | €561,353 | -€1.2m | -69.0% |
| Credit institutions | 430/8 | €1,811,289 | €561,353 | -€1.2m | -69.0% |
| Trade debts | 44 | €412,976 | €534,819 | +€121,843 | +29.5% |
| Suppliers | 440/4 | €412,976 | €534,819 | +€121,843 | +29.5% |
| Advances received on contracts in progress | 46 | €1,068,209 | €0 | -€1.1m | -100% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €79,700 | €351,561 | +€271,861 | +341% |
| Other operating charges | 640/8 | €449 | €1,060 | +€611 | +136% |
| Gross operating margin | 9900 | -€1,426 | -€78,416 | -€76,990 | -5,399% |
| Operating profit (loss) | 9901 | -€1,875 | -€79,476 | -€77,601 | -4,138% |
| Financial charges | 65/66B | - | €32,438 | +€32,438 | |
| Recurring financial charges | 65 | - | €32,438 | +€32,438 | |
| Profit (loss) for the period before taxes | 9903 | -€1,875 | -€111,915 | -€110,039 | -5,868% |
| Profit (loss) for the period | 9904 | -€1,875 | -€111,915 | -€110,039 | -5,868% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,875 | -€111,915 | -€110,039 | -5,868% |
Next steps
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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 7 November 2026 via checked.be.