HOUTMAN: 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.
HOUTMAN
Largest movements
- Receivables within one year -€95,525
down €95,525 (-33.7%), from €283,491 to €187,966
of which Trade receivables: -€71,003
- Tangible fixed assets -€37,938
down €37,938 (-62.1%), from €61,064 to €23,127
of which Furniture and vehicles: -€34,318
- Profit (loss) carried forward -€84,876
down €84,876, from €1,461 to -€83,416
- Debts after one year -€30,793
down €30,793 (-96.7%), from €31,843 to €1,050
- Trade debts -€19,715
down €19,715 (-42.2%), from €46,767 to €27,051
- Current portion of long-term debt -€5,239
down €5,239 (-14.5%), from €36,032 to €30,793
- Short-term financial debts +€3,789
up €3,789 (+95.5%), from €3,967 to €7,755
- Write-downs +€64,627
new in 2025: €64,627
- Gross operating margin -€62,876
down €62,876 (-40.8%), from €154,228 to €91,351
- Financial charges -€9,701
down €9,701 (-69.3%), from €13,995 to €4,294
- Depreciation -€8,103
down €8,103 (-17.6%), from €46,041 to €37,938
- Other operating charges -€3,512
down €3,512 (-45.8%), from €7,660 to €4,148
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €348,737 | €213,781 | -€134,956 | -38.7% |
| Fixed assets | 21/28 | €61,387 | €23,449 | -€37,938 | -61.8% |
| Tangible fixed assets | 22/27 | €61,064 | €23,127 | -€37,938 | -62.1% |
| Land and buildings | 22 | €5,836 | €2,918 | -€2,918 | -50.0% |
| Plant, machinery and equipment | 23 | €1,733 | €1,031 | -€702 | -40.5% |
| Furniture and vehicles | 24 | €53,496 | €19,178 | -€34,318 | -64.2% |
| Financial fixed assets | 28 | €323 | €323 | = | 0.0% |
| Current assets | 29/58 | €287,349 | €190,332 | -€97,018 | -33.8% |
| Stocks and contracts in progress | 3 | €976 | €976 | = | 0.0% |
| Stocks | 30/36 | €976 | €976 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €283,491 | €187,966 | -€95,525 | -33.7% |
| Trade receivables | 40 | €254,653 | €183,650 | -€71,003 | -27.9% |
| Other amounts receivable | 41 | €28,838 | €4,316 | -€24,522 | -85.0% |
| Deferred charges and accrued income | 490/1 | €2,882 | €1,389 | -€1,493 | -51.8% |
| Total equity and liabilities | 10/49 | €348,737 | €213,781 | -€134,956 | -38.7% |
| Equity | 10/15 | €217,377 | €132,501 | -€84,876 | -39.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €197,324 | €197,324 | = | 0.0% |
| Distributable reserves | 133 | €197,324 | €197,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,461 | -€83,416 | -€84,876 | |
| Amounts payable | 17/49 | €131,360 | €81,280 | -€50,079 | -38.1% |
| Amounts payable after more than one year | 17 | €31,843 | €1,050 | -€30,793 | -96.7% |
| Financial debts | 170/4 | €31,843 | €1,050 | -€30,793 | -96.7% |
| Amounts payable within one year | 42/48 | €99,517 | €80,230 | -€19,286 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €36,032 | €30,793 | -€5,239 | -14.5% |
| Financial debts | 43 | €3,967 | €7,755 | +€3,789 | +95.5% |
| Credit institutions | 430/8 | €3,967 | €7,755 | +€3,789 | +95.5% |
| Trade debts | 44 | €46,767 | €27,051 | -€19,715 | -42.2% |
| Suppliers | 440/4 | €46,767 | €27,051 | -€19,715 | -42.2% |
| Taxes, remuneration and social security | 45 | €12,751 | €14,631 | +€1,880 | +14.7% |
| Taxes | 450/3 | €3,934 | €1,667 | -€2,267 | -57.6% |
| Remuneration and social security | 454/9 | €8,817 | €12,964 | +€4,146 | +47.0% |
| Remuneration, social security and pensions | 62 | €66,726 | €65,752 | -€974 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,041 | €37,938 | -€8,103 | -17.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €64,627 | +€64,627 | |
| Other operating charges | 640/8 | €7,660 | €4,148 | -€3,512 | -45.8% |
| Gross operating margin | 9900 | €154,228 | €91,351 | -€62,876 | -40.8% |
| Operating profit (loss) | 9901 | €33,801 | -€81,114 | -€114,915 | |
| Financial income | 75/76B | €692 | €687 | -€5 | -0.7% |
| Recurring financial income | 75 | €692 | €687 | -€5 | -0.7% |
| Financial charges | 65/66B | €13,995 | €4,294 | -€9,701 | -69.3% |
| Recurring financial charges | 65 | €13,995 | €4,294 | -€9,701 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €20,498 | -€84,721 | -€105,219 | |
| Income taxes | 67/77 | €10 | €156 | +€146 | +1,425% |
| Profit (loss) for the period | 9904 | €20,488 | -€84,876 | -€105,365 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,488 | -€84,876 | -€105,365 |
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.