Humon: what changed
Two fiscal 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.
Humon
Largest movements
- Current investments -€500,000
no longer reported in 2025 (was €500,000)
- Tangible fixed assets +€426,278
up €426,278 (+331.5%), from €128,588 to €554,866
of which Other tangible fixed assets: +€450,344
- Receivables within one year +€303,773
up €303,773 (+57.4%), from €529,388 to €833,161
of which Other amounts receivable: +€323,956
- Cash -€161,749
down €161,749 (-68.9%), from €234,778 to €73,029
mainly Investment in fixed assets (net) (-€529,237) and Receivables within one year (-€303,773)
- Stocks and contracts -€118,536
down €118,536 (-90.1%), from €131,536 to €13,000
of which Contracts in progress: -€110,000
- Debts after one year -€85,050
down €85,050 (-11.0%), from €772,056 to €687,006
- Trade debts +€48,795
up €48,795 (+592.0%), from €8,242 to €57,038
- Other debts -€41,177
down €41,177 (-43.9%), from €93,775 to €52,597
- Financial income -€2.3m
down €2.3m (-96.3%), from €2.4m to €88,517
of which Non-recurring financial income: -€2.3m
- Taxes -€221,209
down €221,209 (-97.3%), from €227,296 to €6,087
- Depreciation +€81,052
up €81,052 (+370.0%), from €21,908 to €102,959
- Gross operating margin +€27,429
up €27,429 (+12.4%), from €220,747 to €248,176
- Staff costs -€3,936
down €3,936 (-2.7%), from €144,317 to €140,381
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.
Cash bridge derived
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 | €3,933,163 | €3,880,857 | -€52,307 | -1.3% |
| Fixed assets | 21/28 | €2,208,584 | €2,634,862 | +€426,278 | +19.3% |
| Tangible fixed assets | 22/27 | €128,588 | €554,866 | +€426,278 | +331.5% |
| Plant, machinery and equipment | 23 | €44,638 | €41,520 | -€3,118 | -7.0% |
| Furniture and vehicles | 24 | €83,950 | €63,002 | -€20,948 | -25.0% |
| Other tangible fixed assets | 26 | - | €450,344 | +€450,344 | |
| Financial fixed assets | 28 | €2,079,996 | €2,079,996 | = | 0.0% |
| Current assets | 29/58 | €1,724,579 | €1,245,995 | -€478,584 | -27.8% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €131,536 | €13,000 | -€118,536 | -90.1% |
| Stocks | 30/36 | €16,536 | €8,000 | -€8,536 | -51.6% |
| Contracts in progress | 37 | €115,000 | €5,000 | -€110,000 | -95.7% |
| Amounts receivable within one year | 40/41 | €529,388 | €833,161 | +€303,773 | +57.4% |
| Trade receivables | 40 | €82,103 | €61,920 | -€20,183 | -24.6% |
| Other amounts receivable | 41 | €447,285 | €771,241 | +€323,956 | +72.4% |
| Current investments | 50/53 | €500,000 | - | -€500,000 | |
| Cash at bank and in hand | 54/58 | €234,778 | €73,029 | -€161,749 | -68.9% |
| Deferred charges and accrued income | 490/1 | €28,876 | €26,804 | -€2,072 | -7.2% |
| Total equity and liabilities | 10/49 | €3,933,163 | €3,880,857 | -€52,307 | -1.3% |
| Equity | 10/15 | €2,712,708 | €2,727,668 | +€14,960 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,657,500 | €2,667,500 | +€10,000 | +0.4% |
| Tax-exempt reserves | 132 | €47,500 | €47,500 | = | 0.0% |
| Distributable reserves | 133 | €2,610,000 | €2,620,000 | +€10,000 | +0.4% |
| Profit (loss) carried forward | 14 | €36,608 | €41,568 | +€4,960 | +13.5% |
| Amounts payable | 17/49 | €1,220,456 | €1,153,189 | -€67,267 | -5.5% |
| Amounts payable after more than one year | 17 | €772,056 | €687,006 | -€85,050 | -11.0% |
| Financial debts | 170/4 | €772,056 | €687,006 | -€85,050 | -11.0% |
| Amounts payable within one year | 42/48 | €435,648 | €454,829 | +€19,180 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €85,336 | €85,050 | -€286 | -0.3% |
| Trade debts | 44 | €8,242 | €57,038 | +€48,795 | +592.0% |
| Suppliers | 440/4 | €8,242 | €57,038 | +€48,795 | +592.0% |
| Taxes, remuneration and social security | 45 | €248,296 | €260,144 | +€11,848 | +4.8% |
| Taxes | 450/3 | €221,633 | €244,502 | +€22,869 | +10.3% |
| Remuneration and social security | 454/9 | €26,663 | €15,641 | -€11,021 | -41.3% |
| Other amounts payable | 47/48 | €93,775 | €52,597 | -€41,177 | -43.9% |
| Accrued charges and deferred income | 492/3 | €12,751 | €11,354 | -€1,397 | -11.0% |
| Remuneration, social security and pensions | 62 | €144,317 | €140,381 | -€3,936 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,908 | €102,959 | +€81,052 | +370.0% |
| Other operating charges | 640/8 | €2,104 | €3,751 | +€1,647 | +78.3% |
| Gross operating margin | 9900 | €220,747 | €248,176 | +€27,429 | +12.4% |
| Operating profit (loss) | 9901 | €52,418 | €1,085 | -€51,333 | -97.9% |
| Financial income | 75/76B | €2,364,059 | €88,517 | -€2.3m | -96.3% |
| Recurring financial income | 75 | €33,521 | €88,517 | +€54,995 | +164.1% |
| Non-recurring financial income | 76B | €2,330,538 | - | -€2.3m | |
| Financial charges | 65/66B | €25,306 | €21,888 | -€3,417 | -13.5% |
| Recurring financial charges | 65 | €25,306 | €21,888 | -€3,417 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €2,391,172 | €67,713 | -€2.3m | -97.2% |
| Income taxes | 67/77 | €227,296 | €6,087 | -€221,209 | -97.3% |
| Profit (loss) for the period | 9904 | €2,163,876 | €61,626 | -€2.1m | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,163,876 | €61,626 | -€2.1m | -97.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.