HOUBRACKEN: 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.
HOUBRACKEN
Largest movements
- Stocks and contracts +€52,282
up €52,282 (+15.3%), from €342,666 to €394,948
- Tangible fixed assets -€46,239
down €46,239 (-6.3%), from €730,370 to €684,131
- Reserves +€92,000
up €92,000 (+31.0%), from €297,000 to €389,000
- Debts after one year -€58,622
down €58,622 (-15.8%), from €372,137 to €313,515
- Other debts -€48,060
down €48,060 (-18.9%), from €254,644 to €206,584
- Tax, wage and social debts +€47,885
up €47,885 (+124.4%), from €38,481 to €86,366
of which Taxes: +€46,583
- Gross operating margin +€56,267
up €56,267 (+20.7%), from €271,429 to €327,696
- Staff costs +€20,024
up €20,024 (+37.1%), from €53,992 to €74,016
- Depreciation +€8,920
up €8,920 (+10.9%), from €82,103 to €91,023
- Taxes +€8,597
up €8,597 (+30.8%), from €27,926 to €36,523
- Financial income -€6,195
down €6,195 (-98.9%), from €6,261 to €66
of which Non-recurring financial income: -€6,198
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,211,466 | €1,240,952 | +€29,485 | +2.4% |
| Fixed assets | 21/28 | €730,370 | €684,131 | -€46,239 | -6.3% |
| Tangible fixed assets | 22/27 | €730,370 | €684,131 | -€46,239 | -6.3% |
| Land and buildings | 22 | €571,392 | €554,826 | -€16,567 | -2.9% |
| Plant, machinery and equipment | 23 | €73,840 | €66,927 | -€6,912 | -9.4% |
| Furniture and vehicles | 24 | €40,621 | €31,337 | -€9,285 | -22.9% |
| Leasing and similar rights | 25 | €44,516 | €31,041 | -€13,475 | -30.3% |
| Current assets | 29/58 | €481,097 | €556,821 | +€75,724 | +15.7% |
| Stocks and contracts in progress | 3 | €342,666 | €394,948 | +€52,282 | +15.3% |
| Stocks | 30/36 | €342,666 | €394,948 | +€52,282 | +15.3% |
| Amounts receivable within one year | 40/41 | €87,812 | €99,824 | +€12,012 | +13.7% |
| Trade receivables | 40 | €83,107 | €99,824 | +€16,717 | +20.1% |
| Other amounts receivable | 41 | €4,705 | - | -€4,705 | |
| Cash at bank and in hand | 54/58 | €50,619 | €62,048 | +€11,429 | +22.6% |
| Total equity and liabilities | 10/49 | €1,211,466 | €1,240,952 | +€29,485 | +2.4% |
| Equity | 10/15 | €311,129 | €403,422 | +€92,293 | +29.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €297,000 | €389,000 | +€92,000 | +31.0% |
| Distributable reserves | 133 | €297,000 | €389,000 | +€92,000 | +31.0% |
| Profit (loss) carried forward | 14 | €7,929 | €8,222 | +€293 | +3.7% |
| Amounts payable | 17/49 | €900,338 | €837,530 | -€62,808 | -7.0% |
| Amounts payable after more than one year | 17 | €372,137 | €313,515 | -€58,622 | -15.8% |
| Financial debts | 170/4 | €372,137 | €313,515 | -€58,622 | -15.8% |
| Amounts payable within one year | 42/48 | €528,201 | €524,015 | -€4,186 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €60,529 | €68,029 | +€7,501 | +12.4% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €49,548 | €38,035 | -€11,512 | -23.2% |
| Suppliers | 440/4 | €49,548 | €38,035 | -€11,512 | -23.2% |
| Taxes, remuneration and social security | 45 | €38,481 | €86,366 | +€47,885 | +124.4% |
| Taxes | 450/3 | €34,480 | €81,062 | +€46,583 | +135.1% |
| Remuneration and social security | 454/9 | €4,002 | €5,304 | +€1,302 | +32.5% |
| Other amounts payable | 47/48 | €254,644 | €206,584 | -€48,060 | -18.9% |
| Remuneration, social security and pensions | 62 | €53,992 | €74,016 | +€20,024 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,103 | €91,023 | +€8,920 | +10.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €1,922 | +€1,922 | |
| Other operating charges | 640/8 | €6,537 | €6,487 | -€50 | -0.8% |
| Gross operating margin | 9900 | €271,429 | €327,696 | +€56,267 | +20.7% |
| Operating profit (loss) | 9901 | €128,798 | €154,249 | +€25,452 | +19.8% |
| Financial income | 75/76B | €6,261 | €66 | -€6,195 | -98.9% |
| Recurring financial income | 75 | €63 | €66 | +€3 | +5.4% |
| Non-recurring financial income | 76B | €6,198 | - | -€6,198 | |
| Financial charges | 65/66B | €22,722 | €25,499 | +€2,776 | +12.2% |
| Recurring financial charges | 65 | €22,722 | €25,499 | +€2,776 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €112,336 | €128,817 | +€16,480 | +14.7% |
| Income taxes | 67/77 | €27,926 | €36,523 | +€8,597 | +30.8% |
| Profit (loss) for the period | 9904 | €84,410 | €92,293 | +€7,883 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,410 | €92,293 | +€7,883 | +9.3% |
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 9 October 2026 via checked.be.