HOUTDOK: 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.
HOUTDOK
Largest movements
- Cash -€302,233
down €302,233 (-46.1%), from €655,105 to €352,872
mainly Other debts (-€450,027) and Investment in fixed assets (net) (-€328,392)
- Tangible fixed assets -€175,758
down €175,758 (-9.0%), from €2.0m to €1.8m
of which Land and buildings: -€175,305
- Receivables within one year +€138,255
up €138,255 (+90.5%), from €152,768 to €291,023
of which Trade receivables: +€113,630
- Other debts -€450,027
down €450,027 (-23.2%), from €1.9m to €1.5m
- Profit (loss) carried forward +€161,133
up €161,133 (+186%), from €86,860 to €247,992
- Reserves +€126,300
up €126,300 (+42.0%), from €300,900 to €427,200
of which Tax-exempt reserves: +€126,300
- Debts after one year -€83,499
down €83,499 (-68.0%), from €122,873 to €39,374
- Current portion of long-term debt -€73,140
down €73,140 (-46.7%), from €156,640 to €83,499
- Purchases and services +€84,301
up €84,301 (+27.1%), from €311,340 to €395,641
- Turnover +€56,435
up €56,435 (+5.6%), from €1.0m to €1.1m
- Gross operating margin +€27,092
up €27,092 (+3.0%), from €896,395 to €923,488
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 | €2,801,844 | €2,460,939 | -€340,905 | -12.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,962,638 | €1,786,880 | -€175,758 | -9.0% |
| Tangible fixed assets | 22/27 | €1,962,638 | €1,786,880 | -€175,758 | -9.0% |
| Land and buildings | 22 | €1,961,684 | €1,786,378 | -€175,305 | -8.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €954 | €501 | -€453 | -47.5% |
| Current assets | 29/58 | €839,206 | €674,060 | -€165,147 | -19.7% |
| Amounts receivable within one year | 40/41 | €152,768 | €291,023 | +€138,255 | +90.5% |
| Trade receivables | 40 | €148,223 | €261,854 | +€113,630 | +76.7% |
| Other amounts receivable | 41 | €4,545 | €29,170 | +€24,625 | +542% |
| Cash at bank and in hand | 54/58 | €655,105 | €352,872 | -€302,233 | -46.1% |
| Deferred charges and accrued income | 490/1 | €31,333 | €30,165 | -€1,169 | -3.7% |
| Total equity and liabilities | 10/49 | €2,801,844 | €2,460,939 | -€340,905 | -12.2% |
| Equity | 10/15 | €449,760 | €737,192 | +€287,433 | +63.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €300,900 | €427,200 | +€126,300 | +42.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €294,700 | €421,000 | +€126,300 | +42.9% |
| Profit (loss) carried forward | 14 | €86,860 | €247,992 | +€161,133 | +186% |
| Amounts payable | 17/49 | €2,352,084 | €1,723,747 | -€628,337 | -26.7% |
| Amounts payable after more than one year | 17 | €122,873 | €39,374 | -€83,499 | -68.0% |
| Financial debts | 170/4 | €122,873 | €39,374 | -€83,499 | -68.0% |
| Amounts payable within one year | 42/48 | €2,139,693 | €1,599,906 | -€539,787 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €156,640 | €83,499 | -€73,140 | -46.7% |
| Trade debts | 44 | €18,290 | €7,133 | -€11,156 | -61.0% |
| Suppliers | 440/4 | €18,290 | €7,133 | -€11,156 | -61.0% |
| Taxes, remuneration and social security | 45 | €21,339 | €15,875 | -€5,463 | -25.6% |
| Taxes | 450/3 | €21,339 | €15,875 | -€5,463 | -25.6% |
| Other amounts payable | 47/48 | €1,943,425 | €1,493,398 | -€450,027 | -23.2% |
| Accrued charges and deferred income | 492/3 | €89,517 | €84,467 | -€5,050 | -5.6% |
| Turnover | 70 | €1,011,326 | €1,067,761 | +€56,435 | +5.6% |
| Non-recurring operating income | 76A | €563 | €1,925 | +€1,362 | +242% |
| Goods, raw materials, services and sundry goods | 60/61 | €311,340 | €395,641 | +€84,301 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €499,242 | €504,151 | +€4,909 | +1.0% |
| Other operating charges | 640/8 | €32,476 | €40,906 | +€8,429 | +26.0% |
| Gross operating margin | 9900 | €896,395 | €923,488 | +€27,092 | +3.0% |
| Operating profit (loss) | 9901 | €364,678 | €378,431 | +€13,754 | +3.8% |
| Financial income | 75/76B | €9,863 | €4,036 | -€5,827 | -59.1% |
| Recurring financial income | 75 | €9,863 | €4,036 | -€5,827 | -59.1% |
| Financial charges | 65/66B | €5,694 | €5,285 | -€410 | -7.2% |
| Recurring financial charges | 65 | €5,694 | €5,285 | -€410 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €368,847 | €377,183 | +€8,336 | +2.3% |
| Income taxes | 67/77 | €89,849 | €89,750 | -€98 | -0.1% |
| Profit (loss) for the period | 9904 | €278,998 | €287,433 | +€8,435 | +3.0% |
| Transfer from tax-exempt reserves | 789 | €54,730 | - | -€54,730 | |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €333,728 | €161,133 | -€172,596 | -51.7% |
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 14 October 2026 via checked.be.