HUMBERT ETIENNE: 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.
HUMBERT ETIENNE
Largest movements
- Tangible fixed assets +€15,656
up €15,656 (+76.7%), from €20,410 to €36,065
of which Furniture and vehicles: +€28,656
- Cash -€13,606
down €13,606 (-89.2%), from €15,247 to €1,641
mainly Investment in fixed assets (net) (-€33,155) and Trade debts (-€28,380)
- Receivables within one year -€4,887
down €4,887 (-1.8%), from €276,415 to €271,528
of which Trade receivables: -€3,429
- Trade debts -€28,380
down €28,380 (-39.9%), from €71,213 to €42,833
- Profit (loss) carried forward +€22,460
up €22,460 (+22.2%), from €100,970 to €123,430
- Tax, wage and social debts +€3,394
up €3,394 (+22.8%), from €14,886 to €18,280
of which Taxes: +€2,837
- Other operating charges -€11,396
down €11,396 (-80.3%), from €14,196 to €2,800
- Gross operating margin +€11,224
up €11,224 (+22.0%), from €51,077 to €62,301
- Staff costs +€11,043
new in 2024: €11,043
- Depreciation +€3,980
up €3,980 (+30.0%), from €13,250 to €17,230
- Financial charges -€1,293
down €1,293 (-43.9%), from €2,946 to €1,653
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €312,071 | €309,503 | -€2,568 | -0.8% |
| Fixed assets | 21/28 | €20,410 | €36,335 | +€15,925 | +78.0% |
| Tangible fixed assets | 22/27 | €20,410 | €36,065 | +€15,656 | +76.7% |
| Furniture and vehicles | 24 | €377 | €29,032 | +€28,656 | +7,607% |
| Leasing and similar rights | 25 | €20,033 | €7,033 | -€13,000 | -64.9% |
| Financial fixed assets | 28 | - | €270 | +€270 | |
| Current assets | 29/58 | €291,662 | €273,169 | -€18,493 | -6.3% |
| Amounts receivable within one year | 40/41 | €276,415 | €271,528 | -€4,887 | -1.8% |
| Trade receivables | 40 | €16,036 | €12,607 | -€3,429 | -21.4% |
| Other amounts receivable | 41 | €260,379 | €258,921 | -€1,458 | -0.6% |
| Cash at bank and in hand | 54/58 | €15,247 | €1,641 | -€13,606 | -89.2% |
| Total equity and liabilities | 10/49 | €312,071 | €309,503 | -€2,568 | -0.8% |
| Equity | 10/15 | €225,797 | €248,257 | +€22,460 | +9.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | - | €18,592 | +€18,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €106,235 | €106,235 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €104,376 | €104,376 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,970 | €123,430 | +€22,460 | +22.2% |
| Amounts payable | 17/49 | €86,274 | €61,246 | -€25,028 | -29.0% |
| Amounts payable within one year | 42/48 | €86,274 | €61,246 | -€25,028 | -29.0% |
| Financial debts | 43 | €175 | €134 | -€42 | -23.8% |
| Credit institutions | 430/8 | €175 | €134 | -€42 | -23.8% |
| Trade debts | 44 | €71,213 | €42,833 | -€28,380 | -39.9% |
| Suppliers | 440/4 | €71,213 | €42,833 | -€28,380 | -39.9% |
| Taxes, remuneration and social security | 45 | €14,886 | €18,280 | +€3,394 | +22.8% |
| Taxes | 450/3 | €14,886 | €17,723 | +€2,837 | +19.1% |
| Remuneration and social security | 454/9 | - | €557 | +€557 | |
| Remuneration, social security and pensions | 62 | - | €11,043 | +€11,043 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,250 | €17,230 | +€3,980 | +30.0% |
| Other operating charges | 640/8 | €14,196 | €2,800 | -€11,396 | -80.3% |
| Gross operating margin | 9900 | €51,077 | €62,301 | +€11,224 | +22.0% |
| Operating profit (loss) | 9901 | €23,632 | €31,228 | +€7,596 | +32.1% |
| Financial charges | 65/66B | €2,946 | €1,653 | -€1,293 | -43.9% |
| Recurring financial charges | 65 | €2,946 | €1,653 | -€1,293 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | €20,686 | €29,575 | +€8,889 | +43.0% |
| Income taxes | 67/77 | €6,686 | €7,115 | +€429 | +6.4% |
| Profit (loss) for the period | 9904 | €13,999 | €22,460 | +€8,461 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,999 | €22,460 | +€8,461 | +60.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.