HUSET: 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.
HUSET
Largest movements
- Cash -€47,820
down €47,820 (-40.2%), from €118,889 to €71,069
mainly Other debts (-€157,096) and Debts after one year (-€38,342)
- Tangible fixed assets -€15,946
down €15,946 (-1.4%), from €1.1m to €1.1m
of which Land and buildings: -€17,475
- Other debts -€157,096
down €157,096 (-22.9%), from €684,679 to €527,583
- Reserves +€126,219
up €126,219 (+140%), from €90,383 to €216,602
of which Distributable reserves: +€119,908
- Debts after one year -€38,342
down €38,342 (-15.0%), from €256,127 to €217,785
- Gross operating margin +€59,410
up €59,410 (+16.2%), from €365,962 to €425,372
- Staff costs +€24,499
up €24,499 (+16.2%), from €151,267 to €175,765
- Financial charges +€4,570
up €4,570 (+57.6%), from €7,938 to €12,508
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 | €1,271,904 | €1,217,174 | -€54,730 | -4.3% |
| Fixed assets | 21/28 | €1,131,048 | €1,114,494 | -€16,554 | -1.5% |
| Intangible fixed assets | 21 | €1,115 | €507 | -€608 | -54.5% |
| Tangible fixed assets | 22/27 | €1,129,570 | €1,113,624 | -€15,946 | -1.4% |
| Land and buildings | 22 | €1,094,463 | €1,076,988 | -€17,475 | -1.6% |
| Plant, machinery and equipment | 23 | €35,107 | €36,636 | +€1,529 | +4.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €140,856 | €102,680 | -€38,176 | -27.1% |
| Stocks and contracts in progress | 3 | €2,323 | €1,648 | -€675 | -29.0% |
| Stocks | 30/36 | €2,323 | €1,648 | -€675 | -29.0% |
| Amounts receivable within one year | 40/41 | €7,089 | €13,380 | +€6,291 | +88.7% |
| Trade receivables | 40 | €3,857 | €10,148 | +€6,291 | +163% |
| Other amounts receivable | 41 | €3,232 | €3,232 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €118,889 | €71,069 | -€47,820 | -40.2% |
| Deferred charges and accrued income | 490/1 | €12,556 | €16,584 | +€4,028 | +32.1% |
| Total equity and liabilities | 10/49 | €1,271,904 | €1,217,174 | -€54,730 | -4.3% |
| Equity | 10/15 | €272,883 | €399,102 | +€126,219 | +46.3% |
| Contributions | 10/11 | €182,500 | €182,500 | = | 0.0% |
| Capital | 10 | €182,500 | €182,500 | = | 0.0% |
| Issued capital | 100 | €182,500 | €182,500 | = | 0.0% |
| Reserves | 13 | €90,383 | €216,602 | +€126,219 | +140% |
| Non-distributable reserves | 130/1 | €4,519 | €10,830 | +€6,311 | +140% |
| Legal reserve | 130 | €4,519 | €10,830 | +€6,311 | +140% |
| Distributable reserves | 133 | €85,864 | €205,772 | +€119,908 | +140% |
| Amounts payable | 17/49 | €999,021 | €818,072 | -€180,948 | -18.1% |
| Amounts payable after more than one year | 17 | €256,127 | €217,785 | -€38,342 | -15.0% |
| Financial debts | 170/4 | €256,127 | €217,785 | -€38,342 | -15.0% |
| Amounts payable within one year | 42/48 | €742,768 | €600,287 | -€142,481 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €37,374 | €38,212 | +€838 | +2.2% |
| Trade debts | 44 | €8,446 | €16,282 | +€7,836 | +92.8% |
| Suppliers | 440/4 | €8,446 | €16,282 | +€7,836 | +92.8% |
| Taxes, remuneration and social security | 45 | €12,269 | €18,210 | +€5,941 | +48.4% |
| Taxes | 450/3 | €2,377 | €8,641 | +€6,264 | +264% |
| Remuneration and social security | 454/9 | €9,892 | €9,569 | -€323 | -3.3% |
| Other amounts payable | 47/48 | €684,679 | €527,583 | -€157,096 | -22.9% |
| Accrued charges and deferred income | 492/3 | €125 | €0 | -€125 | -100% |
| Remuneration, social security and pensions | 62 | €151,267 | €175,765 | +€24,499 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,763 | €52,710 | +€1,947 | +3.8% |
| Other operating charges | 640/8 | €13,722 | €15,260 | +€1,539 | +11.2% |
| Non-recurring operating charges | 66A | €14,620 | €0 | -€14,620 | -100% |
| Gross operating margin | 9900 | €365,962 | €425,372 | +€59,410 | +16.2% |
| Operating profit (loss) | 9901 | €135,592 | €181,636 | +€46,044 | +34.0% |
| Financial income | 75/76B | - | €91 | +€91 | |
| Recurring financial income | 75 | - | €91 | +€91 | |
| Financial charges | 65/66B | €7,938 | €12,508 | +€4,570 | +57.6% |
| Recurring financial charges | 65 | €7,938 | €12,508 | +€4,570 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €127,653 | €169,219 | +€41,565 | +32.6% |
| Income taxes | 67/77 | €41,768 | €43,000 | +€1,232 | +2.9% |
| Profit (loss) for the period | 9904 | €85,885 | €126,219 | +€40,333 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €85,885 | €126,219 | +€40,333 | +47.0% |
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 19 October 2026 via checked.be.