JOS HOUBEN: 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.
JOS HOUBEN
Largest movements
- Receivables within one year -€177,465
down €177,465 (-60.7%), from €292,328 to €114,863
of which Trade receivables: -€184,830
- Cash -€39,126
down €39,126 (-23.5%), from €166,251 to €127,125
mainly Debts after one year (-€134,123) and Advances received (-€67,991)
- Stocks and contracts -€28,208
down €28,208 (-5.5%), from €513,042 to €484,834
- Debts after one year -€134,123
down €134,123 (-41.5%), from €323,205 to €189,082
- Advances received -€67,991
no longer reported in 2025 (was €67,991)
- Trade debts -€66,880
down €66,880 (-24.8%), from €269,630 to €202,750
- Reserves +€18,199
up €18,199 (+13.6%), from €133,540 to €151,739
of which Distributable reserves: +€18,199
- Purchases and services -€153,952
down €153,952 (-16.8%), from €918,249 to €764,297
- Staff costs +€85,371
up €85,371 (+43.1%), from €198,109 to €283,480
- Gross operating margin +€51,447
up €51,447 (+14.6%), from €353,173 to €404,620
- Depreciation -€23,058
down €23,058 (-24.5%), from €94,249 to €71,191
- Taxes -€20,686
down €20,686 (-81.9%), from €25,250 to €4,564
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 | €1,422,779 | €1,177,396 | -€245,383 | -17.2% |
| Fixed assets | 21/28 | €449,742 | €446,117 | -€3,625 | -0.8% |
| Tangible fixed assets | 22/27 | €439,776 | €438,407 | -€1,369 | -0.3% |
| Land and buildings | 22 | €179,806 | €197,166 | +€17,361 | +9.7% |
| Plant, machinery and equipment | 23 | €107,979 | €134,659 | +€26,680 | +24.7% |
| Furniture and vehicles | 24 | €64,174 | €37,582 | -€26,592 | -41.4% |
| Leasing and similar rights | 25 | €87,817 | €68,999 | -€18,818 | -21.4% |
| Financial fixed assets | 28 | €9,966 | €7,710 | -€2,256 | -22.6% |
| Current assets | 29/58 | €973,037 | €731,279 | -€241,758 | -24.8% |
| Stocks and contracts in progress | 3 | €513,042 | €484,834 | -€28,208 | -5.5% |
| Stocks | 30/36 | €513,042 | €484,834 | -€28,208 | -5.5% |
| Amounts receivable within one year | 40/41 | €292,328 | €114,863 | -€177,465 | -60.7% |
| Trade receivables | 40 | €274,002 | €89,172 | -€184,830 | -67.5% |
| Other amounts receivable | 41 | €18,326 | €25,692 | +€7,365 | +40.2% |
| Cash at bank and in hand | 54/58 | €166,251 | €127,125 | -€39,126 | -23.5% |
| Deferred charges and accrued income | 490/1 | €1,416 | €4,457 | +€3,041 | +215% |
| Total equity and liabilities | 10/49 | €1,422,779 | €1,177,396 | -€245,383 | -17.2% |
| Equity | 10/15 | €208,540 | €226,739 | +€18,199 | +8.7% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €133,540 | €151,739 | +€18,199 | +13.6% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €126,040 | €144,239 | +€18,199 | +14.4% |
| Amounts payable | 17/49 | €1,214,239 | €950,657 | -€263,582 | -21.7% |
| Amounts payable after more than one year | 17 | €323,205 | €189,082 | -€134,123 | -41.5% |
| Financial debts | 170/4 | €323,205 | €189,082 | -€134,123 | -41.5% |
| Amounts payable within one year | 42/48 | €890,853 | €761,576 | -€129,277 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €49,085 | €50,622 | +€1,537 | +3.1% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €269,630 | €202,750 | -€66,880 | -24.8% |
| Suppliers | 440/4 | €269,630 | €202,750 | -€66,880 | -24.8% |
| Advances received on contracts in progress | 46 | €67,991 | - | -€67,991 | |
| Taxes, remuneration and social security | 45 | €64,375 | €70,209 | +€5,834 | +9.1% |
| Taxes | 450/3 | €14,545 | €30,775 | +€16,230 | +112% |
| Remuneration and social security | 454/9 | €49,830 | €39,434 | -€10,395 | -20.9% |
| Other amounts payable | 47/48 | €239,772 | €237,994 | -€1,777 | -0.7% |
| Accrued charges and deferred income | 492/3 | €182 | - | -€182 | |
| Turnover | 70 | €1,131,329 | €1,137,056 | +€5,727 | +0.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €918,249 | €764,297 | -€153,952 | -16.8% |
| Remuneration, social security and pensions | 62 | €198,109 | €283,480 | +€85,371 | +43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,249 | €71,191 | -€23,058 | -24.5% |
| Other operating charges | 640/8 | €3,300 | €1,726 | -€1,574 | -47.7% |
| Gross operating margin | 9900 | €353,173 | €404,620 | +€51,447 | +14.6% |
| Operating profit (loss) | 9901 | €57,514 | €48,222 | -€9,292 | -16.2% |
| Financial income | 75/76B | €44 | €59 | +€15 | +35.0% |
| Recurring financial income | 75 | €44 | €59 | +€15 | +35.0% |
| Financial charges | 65/66B | €22,667 | €25,519 | +€2,852 | +12.6% |
| Recurring financial charges | 65 | €22,667 | €23,919 | +€1,252 | +5.5% |
| Non-recurring financial charges | 66B | - | €1,600 | +€1,600 | |
| Profit (loss) for the period before taxes | 9903 | €34,891 | €22,763 | -€12,129 | -34.8% |
| Income taxes | 67/77 | €25,250 | €4,564 | -€20,686 | -81.9% |
| Profit (loss) for the period | 9904 | €9,642 | €18,199 | +€8,557 | +88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,642 | €18,199 | +€8,557 | +88.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.