HUYGEN MANAGEMENT PROJECTS: 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.
HUYGEN MANAGEMENT PROJECTS
Largest movements
- Tangible fixed assets -€52,967
down €52,967 (-12.2%), from €433,108 to €380,141
of which Assets under construction and advance payments: -€34,741
- Debts after one year -€31,420
down €31,420 (-13.4%), from €235,186 to €203,766
- Other debts -€23,998
down €23,998 (-29.9%), from €80,281 to €56,283
- Gross operating margin -€3,602
down €3,602 (-7.4%), from €48,775 to €45,173
- Financial charges -€1,579
down €1,579 (-15.4%), from €10,287 to €8,708
- Depreciation -€864
down €864 (-4.4%), from €19,491 to €18,626
- Taxes -€831
down €831 (-14.9%), from €5,568 to €4,737
- Other operating charges +€606
up €606 (+20.9%), from €2,897 to €3,503
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 | €440,858 | €384,316 | -€56,541 | -12.8% |
| Fixed assets | 21/28 | €433,775 | €380,408 | -€53,367 | -12.3% |
| Intangible fixed assets | 21 | €667 | €267 | -€400 | -60.0% |
| Tangible fixed assets | 22/27 | €433,108 | €380,141 | -€52,967 | -12.2% |
| Land and buildings | 22 | €398,368 | €380,141 | -€18,226 | -4.6% |
| Assets under construction and advance payments | 27 | €34,741 | €0 | -€34,741 | -100% |
| Current assets | 29/58 | €7,083 | €3,908 | -€3,174 | -44.8% |
| Amounts receivable within one year | 40/41 | €3,734 | €1,179 | -€2,555 | -68.4% |
| Trade receivables | 40 | €1,150 | €1,179 | +€29 | +2.5% |
| Other amounts receivable | 41 | €2,584 | €0 | -€2,584 | -100% |
| Cash at bank and in hand | 54/58 | €2,917 | €2,282 | -€636 | -21.8% |
| Deferred charges and accrued income | 490/1 | €431 | €448 | +€16 | +3.8% |
| Total equity and liabilities | 10/49 | €440,858 | €384,316 | -€56,541 | -12.8% |
| Equity | 10/15 | €80,481 | €80,731 | +€250 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €74,281 | €74,531 | +€250 | +0.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €74,281 | €74,531 | +€250 | +0.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €360,377 | €303,586 | -€56,791 | -15.8% |
| Amounts payable after more than one year | 17 | €235,186 | €203,766 | -€31,420 | -13.4% |
| Financial debts | 170/4 | €235,186 | €203,766 | -€31,420 | -13.4% |
| Amounts payable within one year | 42/48 | €118,647 | €94,337 | -€24,310 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €30,991 | €31,420 | +€429 | +1.4% |
| Trade debts | 44 | €1,807 | €1,778 | -€30 | -1.6% |
| Suppliers | 440/4 | €1,807 | €1,778 | -€30 | -1.6% |
| Taxes, remuneration and social security | 45 | €5,568 | €4,857 | -€711 | -12.8% |
| Taxes | 450/3 | €5,568 | €4,857 | -€711 | -12.8% |
| Other amounts payable | 47/48 | €80,281 | €56,283 | -€23,998 | -29.9% |
| Accrued charges and deferred income | 492/3 | €6,543 | €5,482 | -€1,061 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,491 | €18,626 | -€864 | -4.4% |
| Other operating charges | 640/8 | €2,897 | €3,503 | +€606 | +20.9% |
| Gross operating margin | 9900 | €48,775 | €45,173 | -€3,602 | -7.4% |
| Operating profit (loss) | 9901 | €26,388 | €23,044 | -€3,344 | -12.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €10,287 | €8,708 | -€1,579 | -15.4% |
| Recurring financial charges | 65 | €10,287 | €8,708 | -€1,579 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €16,101 | €14,336 | -€1,765 | -11.0% |
| Income taxes | 67/77 | €5,568 | €4,737 | -€831 | -14.9% |
| Profit (loss) for the period | 9904 | €10,533 | €9,599 | -€934 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,533 | €9,599 | -€934 | -8.9% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.