HOUT VAN MAELE: 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.
HOUT VAN MAELE
Largest movements
- Cash -€64,126
down €64,126 (-60.7%), from €105,727 to €41,601
mainly Contributions, distributions and other (-€156,013) and Stocks and contracts (-€51,254)
- Stocks and contracts +€51,254
up €51,254 (+12.0%), from €427,654 to €478,908
- Tangible fixed assets -€20,841
down €20,841 (-56.9%), from €36,614 to €15,773
of which Furniture and vehicles: -€21,783
- Profit (loss) carried forward -€142,564
down €142,564 (-100%), from €142,564 to €0
- Other debts +€72,703
up €72,703 (+87.3%), from €83,310 to €156,013
- Reserves +€26,283
up €26,283 (+20.9%), from €126,031 to €152,314
- Tax, wage and social debts +€20,625
up €20,625 (+40.9%), from €50,399 to €71,024
of which Taxes: +€25,700
- Debts after one year -€13,370
down €13,370 (-5.4%), from €246,811 to €233,440
of which Financial debts: -€10,338
- Staff costs +€17,814
up €17,814 (+8.0%), from €223,181 to €240,995
- Gross operating margin +€13,512
up €13,512 (+4.5%), from €302,296 to €315,808
- Financial income +€9,134
up €9,134 (+28.8%), from €31,663 to €40,796
of which Financial income: +€9,134
- Write-downs +€7,334
up €7,334, from -€7,334 to €0
- Other operating charges -€5,462
down €5,462 (-62.9%), from €8,688 to €3,226
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 | €779,323 | €736,608 | -€42,715 | -5.5% |
| Fixed assets | 21/28 | €45,201 | €21,284 | -€23,917 | -52.9% |
| Intangible fixed assets | 21 | €8,587 | €5,511 | -€3,076 | -35.8% |
| Tangible fixed assets | 22/27 | €36,614 | €15,773 | -€20,841 | -56.9% |
| Plant, machinery and equipment | 23 | €5,089 | €2,419 | -€2,669 | -52.5% |
| Furniture and vehicles | 24 | €24,904 | €3,121 | -€21,783 | -87.5% |
| Other tangible fixed assets | 26 | €6,621 | €10,233 | +€3,612 | +54.6% |
| Current assets | 29/58 | €734,122 | €715,323 | -€18,799 | -2.6% |
| Stocks and contracts in progress | 3 | €427,654 | €478,908 | +€51,254 | +12.0% |
| Stocks | 30/36 | €427,654 | €478,908 | +€51,254 | +12.0% |
| Amounts receivable within one year | 40/41 | €197,658 | €192,160 | -€5,498 | -2.8% |
| Trade receivables | 40 | €174,205 | €186,961 | +€12,756 | +7.3% |
| Other amounts receivable | 41 | €23,453 | €5,200 | -€18,254 | -77.8% |
| Cash at bank and in hand | 54/58 | €105,727 | €41,601 | -€64,126 | -60.7% |
| Deferred charges and accrued income | 490/1 | €3,083 | €2,655 | -€429 | -13.9% |
| Total equity and liabilities | 10/49 | €779,323 | €736,608 | -€42,715 | -5.5% |
| Equity | 10/15 | €358,770 | €242,489 | -€116,281 | -32.4% |
| Contributions | 10/11 | €90,175 | €90,175 | = | 0.0% |
| Reserves | 13 | €126,031 | €152,314 | +€26,283 | +20.9% |
| Distributable reserves | 133 | €126,031 | €152,314 | +€26,283 | +20.9% |
| Profit (loss) carried forward | 14 | €142,564 | €0 | -€142,564 | -100% |
| Amounts payable | 17/49 | €420,553 | €494,119 | +€73,566 | +17.5% |
| Amounts payable after more than one year | 17 | €246,811 | €233,440 | -€13,370 | -5.4% |
| Financial debts | 170/4 | €63,778 | €53,440 | -€10,338 | -16.2% |
| Other amounts payable | 178/9 | €183,033 | €180,000 | -€3,033 | -1.7% |
| Amounts payable within one year | 42/48 | €157,480 | €246,327 | +€88,847 | +56.4% |
| Current portion of amounts payable after more than one year | 42 | €10,224 | €10,338 | +€114 | +1.1% |
| Trade debts | 44 | €13,548 | €8,952 | -€4,596 | -33.9% |
| Suppliers | 440/4 | €13,548 | €8,952 | -€4,596 | -33.9% |
| Taxes, remuneration and social security | 45 | €50,399 | €71,024 | +€20,625 | +40.9% |
| Taxes | 450/3 | €23,333 | €49,033 | +€25,700 | +110% |
| Remuneration and social security | 454/9 | €27,066 | €21,991 | -€5,075 | -18.8% |
| Other amounts payable | 47/48 | €83,310 | €156,013 | +€72,703 | +87.3% |
| Accrued charges and deferred income | 492/3 | €16,262 | €14,351 | -€1,911 | -11.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €223,181 | €240,995 | +€17,814 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,173 | €32,712 | -€2,461 | -7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,334 | €0 | +€7,334 | |
| Other operating charges | 640/8 | €8,688 | €3,226 | -€5,462 | -62.9% |
| Non-recurring operating charges | 66A | €257 | €0 | -€257 | -100% |
| Gross operating margin | 9900 | €302,296 | €315,808 | +€13,512 | +4.5% |
| Operating profit (loss) | 9901 | €42,332 | €38,876 | -€3,456 | -8.2% |
| Financial income | 75/76B | €31,663 | €40,796 | +€9,134 | +28.8% |
| Recurring financial income | 75 | €31,663 | €40,796 | +€9,134 | +28.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €18,126 | €14,308 | -€3,818 | -21.1% |
| Recurring financial charges | 65 | €18,126 | €14,308 | -€3,818 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €55,868 | €65,364 | +€9,496 | +17.0% |
| Income taxes | 67/77 | €20,993 | €25,632 | +€4,639 | +22.1% |
| Profit (loss) for the period | 9904 | €34,876 | €39,733 | +€4,857 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,876 | €39,733 | +€4,857 | +13.9% |
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 25 October 2026 via checked.be.