HUMA-INVEST: 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.
What changed
HUMA-INVEST
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€32,315
2024 · -€22,666-€9,649
Equity
€491,655
2024 · €523,970-€32,315
Cash
€5,797
2024 · €7,029-€1,232
Balance sheet total
€882,026
2024 · €951,047-€69,021
Largest movements
Assets
- Tangible fixed assets -€63,880
down €63,880 (-6.9%), from €929,167 to €865,287
of which Land and buildings: -€59,990
Equity and liabilities
- Debts after one year -€33,778
down €33,778 (-13.6%), from €247,812 to €214,034
- Reserves -€18,764
down €18,764 (-4.2%), from €449,367 to €430,604
of which Tax-exempt reserves: -€18,764
- Profit (loss) carried forward -€13,551
new in 2025: -€13,551
- Provisions -€9,662
down €9,662 (-12.9%), from €74,899 to €65,237
Income statement
- Gross operating margin -€18,496
down €18,496 (-27.9%), from €66,193 to €47,697
- Depreciation -€17,477
down €17,477 (-20.1%), from €87,014 to €69,536
- Other operating charges +€7,148
up €7,148 (+81.4%), from €8,777 to €15,925
- Taxes -€2,964
down €2,964 (-99.7%), from €2,972 to €8
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.
Result 2024
-€22,666
Gross operating margin
-€18,496
Depreciation
+€17,477
Other operating charges
-€7,148
Financial income
+€9
Financial charges
+€498
Taxes
+€2,964
Deferred taxes and other
-€4,954
Result 2025
-€32,315
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€34,176
Investment
-€2,149
Financing
-€33,259
Cash 2024
€7,029
From operations (derived)
+€34,176
Net result for the year
-€32,315
Depreciation
+€69,536
Deferred charges and accrued income
+€402
Provisions
-€9,662
Trade debts
-€552
Tax, wage and social debts
-€1,683
Other debts
+€8,248
Accrued charges and deferred income
+€201
Investment (derived)
-€2,149
Investment in fixed assets (net)
-€5,656
Current investments
+€3,507
Financing
-€33,259
Debts after one year
-€33,778
Current portion of long-term debt
+€519
Cash 2025
€5,797
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €951,047 | €882,026 | -€69,021 | -7.3% |
| Fixed assets | 21/28 | €929,167 | €865,287 | -€63,880 | -6.9% |
| Tangible fixed assets | 22/27 | €929,167 | €865,287 | -€63,880 | -6.9% |
| Land and buildings | 22 | €911,933 | €851,943 | -€59,990 | -6.6% |
| Plant, machinery and equipment | 23 | €8,405 | €6,042 | -€2,363 | -28.1% |
| Furniture and vehicles | 24 | €8,830 | €7,303 | -€1,527 | -17.3% |
| Current assets | 29/58 | €21,880 | €16,739 | -€5,141 | -23.5% |
| Current investments | 50/53 | €12,805 | €9,298 | -€3,507 | -27.4% |
| Cash at bank and in hand | 54/58 | €7,029 | €5,797 | -€1,232 | -17.5% |
| Deferred charges and accrued income | 490/1 | €2,045 | €1,643 | -€402 | -19.6% |
| Total equity and liabilities | 10/49 | €951,047 | €882,026 | -€69,021 | -7.3% |
| Equity | 10/15 | €523,970 | €491,655 | -€32,315 | -6.2% |
| Contributions | 10/11 | €74,602 | €74,602 | = | 0.0% |
| Capital | 10 | €74,602 | €74,602 | = | 0.0% |
| Issued capital | 100 | €74,602 | €74,602 | = | 0.0% |
| Reserves | 13 | €449,367 | €430,604 | -€18,764 | -4.2% |
| Non-distributable reserves | 130/1 | €11,756 | €11,756 | = | 0.0% |
| Legal reserve | 130 | €11,756 | €11,756 | = | 0.0% |
| Tax-exempt reserves | 132 | €145,457 | €126,693 | -€18,764 | -12.9% |
| Distributable reserves | 133 | €292,154 | €292,154 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€13,551 | -€13,551 | |
| Provisions and deferred taxes | 16 | €74,899 | €65,237 | -€9,662 | -12.9% |
| Deferred taxes | 168 | €74,899 | €65,237 | -€9,662 | -12.9% |
| Amounts payable | 17/49 | €352,178 | €325,134 | -€27,044 | -7.7% |
| Amounts payable after more than one year | 17 | €247,812 | €214,034 | -€33,778 | -13.6% |
| Financial debts | 170/4 | €247,812 | €214,034 | -€33,778 | -13.6% |
| Amounts payable within one year | 42/48 | €104,366 | €110,899 | +€6,533 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €33,259 | €33,778 | +€519 | +1.6% |
| Trade debts | 44 | €1,394 | €842 | -€552 | -39.6% |
| Suppliers | 440/4 | €1,394 | €842 | -€552 | -39.6% |
| Advances received on contracts in progress | 46 | €2,055 | €2,055 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,599 | €3,917 | -€1,683 | -30.0% |
| Taxes | 450/3 | €5,599 | €2,967 | -€2,633 | -47.0% |
| Remuneration and social security | 454/9 | - | €950 | +€950 | |
| Other amounts payable | 47/48 | €62,059 | €70,307 | +€8,248 | +13.3% |
| Accrued charges and deferred income | 492/3 | - | €201 | +€201 | |
| Non-recurring operating income | 76A | €2,866 | €2,206 | -€660 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,014 | €69,536 | -€17,477 | -20.1% |
| Other operating charges | 640/8 | €8,777 | €15,925 | +€7,148 | +81.4% |
| Gross operating margin | 9900 | €66,193 | €47,697 | -€18,496 | -27.9% |
| Operating profit (loss) | 9901 | -€29,598 | -€37,764 | -€8,166 | -27.6% |
| Financial income | 75/76B | €18 | €27 | +€9 | +47.8% |
| Recurring financial income | 75 | €18 | €27 | +€9 | +47.8% |
| Financial charges | 65/66B | €4,729 | €4,231 | -€498 | -10.5% |
| Recurring financial charges | 65 | €4,729 | €4,231 | -€498 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€34,309 | -€41,969 | -€7,660 | -22.3% |
| Transfer from deferred taxes | 780 | €14,615 | €9,662 | -€4,954 | -33.9% |
| Income taxes | 67/77 | €2,972 | €8 | -€2,964 | -99.7% |
| Profit (loss) for the period | 9904 | -€22,666 | -€32,315 | -€9,649 | -42.6% |
| Transfer from tax-exempt reserves | 789 | €28,384 | €18,764 | -€9,620 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,718 | -€13,551 | -€19,270 |
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 13 October 2026 via checked.be.