HOUBRECHTS CURD: 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.
HOUBRECHTS CURD
Largest movements
- Tangible fixed assets -€10,767
down €10,767 (-33.5%), from €32,120 to €21,353
of which Leasing and similar rights: -€11,503
- Receivables within one year +€3,398
up €3,398 (+97.6%), from €3,481 to €6,879
- Cash -€2,285
down €2,285 (-28.8%), from €7,922 to €5,636
mainly Debts after one year (-€8,838) and Investment in fixed assets (net) (-€4,020)
- Debts after one year -€8,838
down €8,838 (-83.5%), from €10,580 to €1,742
- Reserves +€3,446
up €3,446 (+39.9%), from €8,626 to €12,072
- Current portion of long-term debt -€3,440
down €3,440 (-22.9%), from €15,020 to €11,581
- Trade debts -€854
down €854 (-51.6%), from €1,655 to €802
- Gross operating margin +€419
up €419 (+1.8%), from €23,466 to €23,885
- Financial charges -€313
down €313 (-21.5%), from €1,452 to €1,139
- Taxes +€284
up €284 (+12.6%), from €2,248 to €2,532
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 | €43,582 | €33,929 | -€9,653 | -22.1% |
| Fixed assets | 21/28 | €32,120 | €21,353 | -€10,767 | -33.5% |
| Tangible fixed assets | 22/27 | €32,120 | €21,353 | -€10,767 | -33.5% |
| Plant, machinery and equipment | 23 | €1,546 | - | -€1,546 | |
| Furniture and vehicles | 24 | €4,029 | €6,593 | +€2,564 | +63.6% |
| Leasing and similar rights | 25 | €25,282 | €13,779 | -€11,503 | -45.5% |
| Other tangible fixed assets | 26 | €1,263 | €981 | -€282 | -22.4% |
| Current assets | 29/58 | €11,462 | €12,576 | +€1,114 | +9.7% |
| Amounts receivable within one year | 40/41 | €3,481 | €6,879 | +€3,398 | +97.6% |
| Other amounts receivable | 41 | €3,481 | €6,879 | +€3,398 | +97.6% |
| Cash at bank and in hand | 54/58 | €7,922 | €5,636 | -€2,285 | -28.8% |
| Deferred charges and accrued income | 490/1 | €59 | €61 | +€2 | +3.1% |
| Total equity and liabilities | 10/49 | €43,582 | €33,929 | -€9,653 | -22.1% |
| Equity | 10/15 | €13,626 | €17,072 | +€3,446 | +25.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,626 | €12,072 | +€3,446 | +39.9% |
| Distributable reserves | 133 | €8,626 | €12,072 | +€3,446 | +39.9% |
| Amounts payable | 17/49 | €29,956 | €16,857 | -€13,099 | -43.7% |
| Amounts payable after more than one year | 17 | €10,580 | €1,742 | -€8,838 | -83.5% |
| Financial debts | 170/4 | €10,580 | €1,742 | -€8,838 | -83.5% |
| Amounts payable within one year | 42/48 | €19,376 | €15,115 | -€4,261 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €15,020 | €11,581 | -€3,440 | -22.9% |
| Trade debts | 44 | €1,655 | €802 | -€854 | -51.6% |
| Suppliers | 440/4 | €1,655 | €802 | -€854 | -51.6% |
| Taxes, remuneration and social security | 45 | €2,700 | €2,732 | +€32 | +1.2% |
| Taxes | 450/3 | €2,700 | €2,732 | +€32 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,861 | €14,787 | -€74 | -0.5% |
| Other operating charges | 640/8 | €2,210 | €2,190 | -€20 | -0.9% |
| Gross operating margin | 9900 | €23,466 | €23,885 | +€419 | +1.8% |
| Operating profit (loss) | 9901 | €6,395 | €6,908 | +€513 | +8.0% |
| Financial income | 75/76B | €62 | €209 | +€147 | +237% |
| Recurring financial income | 75 | €62 | €209 | +€147 | +237% |
| Financial charges | 65/66B | €1,452 | €1,139 | -€313 | -21.5% |
| Recurring financial charges | 65 | €1,452 | €1,139 | -€313 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €5,005 | €5,978 | +€972 | +19.4% |
| Income taxes | 67/77 | €2,248 | €2,532 | +€284 | +12.6% |
| Profit (loss) for the period | 9904 | €2,757 | €3,446 | +€689 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,757 | €3,446 | +€689 | +25.0% |
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 24 October 2026 via checked.be.