HOULE: what changed
Two fiscal 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.
HOULE
Largest movements
- Tangible fixed assets +€25,690
up €25,690 (+6.1%), from €419,851 to €445,540
of which Plant, machinery and equipment: +€32,246
- Debts after one year +€120,302
up €120,302 (+32.3%), from €372,949 to €493,250
of which Other amounts payable: +€154,500
- Profit (loss) carried forward -€102,328
down €102,328 (-637.3%), from -€16,058 to -€118,386
- Other debts +€18,982
up €18,982 (+319.9%), from €5,934 to €24,916
- Investment grants -€6,221
down €6,221 (-33.3%), from €18,664 to €12,443
- Gross operating margin -€33,723
down €33,723, from €2,413 to -€31,310
- Write-downs -€22,736
down €22,736 (-100.0%), from €22,736 to €0
- Depreciation -€5,291
down €5,291 (-8.3%), from €64,061 to €58,769
- Other operating charges +€387
up €387 (+48.3%), from €801 to €1,188
- Financial charges -€379
down €379 (-3.3%), from €11,648 to €11,269
of which Financial charges: -€379
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 | €436,821 | €464,845 | +€28,024 | +6.4% |
| Fixed assets | 21/28 | €419,894 | €445,584 | +€25,690 | +6.1% |
| Tangible fixed assets | 22/27 | €419,851 | €445,540 | +€25,690 | +6.1% |
| Land and buildings | 22 | €346,350 | €354,523 | +€8,173 | +2.4% |
| Plant, machinery and equipment | 23 | €40,813 | €73,059 | +€32,246 | +79.0% |
| Leasing and similar rights | 25 | €32,688 | €17,958 | -€14,730 | -45.1% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €16,927 | €19,261 | +€2,334 | +13.8% |
| Amounts receivable within one year | 40/41 | €8,851 | €8,950 | +€99 | +1.1% |
| Trade receivables | 40 | €4,837 | €7,409 | +€2,572 | +53.2% |
| Other amounts receivable | 41 | €4,014 | €1,541 | -€2,473 | -61.6% |
| Cash at bank and in hand | 54/58 | €6,302 | €9,704 | +€3,401 | +54.0% |
| Deferred charges and accrued income | 490/1 | €1,774 | €608 | -€1,166 | -65.7% |
| Total equity and liabilities | 10/49 | €436,821 | €464,845 | +€28,024 | +6.4% |
| Equity | 10/15 | €12,606 | -€95,944 | -€108,550 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,058 | -€118,386 | -€102,328 | -637.3% |
| Investment grants | 15 | €18,664 | €12,443 | -€6,221 | -33.3% |
| Amounts payable | 17/49 | €424,215 | €560,788 | +€136,573 | +32.2% |
| Amounts payable after more than one year | 17 | €372,949 | €493,250 | +€120,302 | +32.3% |
| Financial debts | 170/4 | €372,949 | €338,750 | -€34,198 | -9.2% |
| Other amounts payable | 178/9 | - | €154,500 | +€154,500 | |
| Amounts payable within one year | 42/48 | €51,266 | €67,538 | +€16,272 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €33,170 | €34,198 | +€1,028 | +3.1% |
| Trade debts | 44 | €10,384 | €8,195 | -€2,189 | -21.1% |
| Suppliers | 440/4 | €10,384 | €8,195 | -€2,189 | -21.1% |
| Taxes, remuneration and social security | 45 | €1,778 | €228 | -€1,549 | -87.1% |
| Taxes | 450/3 | €1,778 | €228 | -€1,549 | -87.1% |
| Other amounts payable | 47/48 | €5,934 | €24,916 | +€18,982 | +319.9% |
| Non-recurring operating income | 76A | €11,726 | €0 | -€11,726 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,061 | €58,769 | -€5,291 | -8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,736 | €0 | -€22,736 | -100.0% |
| Other operating charges | 640/8 | €801 | €1,188 | +€387 | +48.3% |
| Non-recurring operating charges | 66A | €2,924 | €6,015 | +€3,091 | +105.7% |
| Gross operating margin | 9900 | €2,413 | -€31,310 | -€33,723 | |
| Operating profit (loss) | 9901 | -€88,109 | -€97,283 | -€9,174 | -10.4% |
| Financial income | 75/76B | €6,225 | €6,223 | -€3 | 0.0% |
| Recurring financial income | 75 | €6,225 | €6,223 | -€3 | 0.0% |
| Financial charges | 65/66B | €11,648 | €11,269 | -€379 | -3.3% |
| Recurring financial charges | 65 | €11,648 | €11,269 | -€379 | -3.3% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€93,531 | -€102,328 | -€8,797 | -9.4% |
| Income taxes | 67/77 | -€112 | €0 | +€112 | |
| Profit (loss) for the period | 9904 | -€93,419 | -€102,328 | -€8,909 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€93,419 | -€102,328 | -€8,909 | -9.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.