MAXIME HONHON MANAGEMENT: 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.
MAXIME HONHON MANAGEMENT
Largest movements
- Tangible fixed assets +€358,536
up €358,536 (+16,484%), from €2,175 to €360,711
of which Land and buildings: +€360,017
- Receivables within one year +€96,245
up €96,245 (+110%), from €87,323 to €183,568
of which Other amounts receivable: +€98,151
- Cash -€70,823
down €70,823 (-71.0%), from €99,716 to €28,894
mainly Contributions, distributions and other (-€439,177) and Investment in fixed assets (net) (-€333,623)
- Financial fixed assets -€30,000
down €30,000 (-10.3%), from €290,000 to €260,000
- Other debts +€441,087
new in 2025: €441,087
- Reserves -€292,821
no longer reported in 2025 (was €292,821)
- Debts after one year +€193,509
up €193,509 (+131%), from €147,693 to €341,203
- Current portion of long-term debt +€13,758
up €13,758 (+39.7%), from €34,625 to €48,383
- Financial income -€173,658
down €173,658 (-51.5%), from €337,365 to €163,706
- Depreciation +€3,605
up €3,605 (+243%), from €1,481 to €5,086
- Gross operating margin -€1,821
down €1,821 (-84.9%), from -€2,146 to -€3,968
- Financial charges +€1,680
up €1,680 (+25.4%), from €6,616 to €8,297
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 | €479,214 | €833,173 | +€353,959 | +73.9% |
| Fixed assets | 21/28 | €292,175 | €620,711 | +€328,536 | +112% |
| Tangible fixed assets | 22/27 | €2,175 | €360,711 | +€358,536 | +16,484% |
| Land and buildings | 22 | - | €360,017 | +€360,017 | |
| Furniture and vehicles | 24 | €2,175 | €694 | -€1,481 | -68.1% |
| Financial fixed assets | 28 | €290,000 | €260,000 | -€30,000 | -10.3% |
| Current assets | 29/58 | €187,039 | €212,461 | +€25,422 | +13.6% |
| Amounts receivable within one year | 40/41 | €87,323 | €183,568 | +€96,245 | +110% |
| Trade receivables | 40 | €1,906 | - | -€1,906 | |
| Other amounts receivable | 41 | €85,417 | €183,568 | +€98,151 | +115% |
| Cash at bank and in hand | 54/58 | €99,716 | €28,894 | -€70,823 | -71.0% |
| Total equity and liabilities | 10/49 | €479,214 | €833,173 | +€353,959 | +73.9% |
| Equity | 10/15 | €295,321 | €2,500 | -€292,821 | -99.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €292,821 | - | -€292,821 | |
| Distributable reserves | 133 | €292,821 | - | -€292,821 | |
| Amounts payable | 17/49 | €183,893 | €830,673 | +€646,780 | +352% |
| Amounts payable after more than one year | 17 | €147,693 | €341,203 | +€193,509 | +131% |
| Financial debts | 170/4 | €147,693 | €341,203 | +€193,509 | +131% |
| Amounts payable within one year | 42/48 | €36,200 | €489,470 | +€453,270 | +1,252% |
| Current portion of amounts payable after more than one year | 42 | €34,625 | €48,383 | +€13,758 | +39.7% |
| Trade debts | 44 | €1,575 | - | -€1,575 | |
| Suppliers | 440/4 | €1,575 | - | -€1,575 | |
| Other amounts payable | 47/48 | - | €441,087 | +€441,087 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,481 | €5,086 | +€3,605 | +243% |
| Other operating charges | 640/8 | €6 | - | -€6 | |
| Gross operating margin | 9900 | -€2,146 | -€3,968 | -€1,821 | -84.9% |
| Operating profit (loss) | 9901 | -€3,633 | -€9,054 | -€5,421 | -149% |
| Financial income | 75/76B | €337,365 | €163,706 | -€173,658 | -51.5% |
| Recurring financial income | 75 | €337,365 | €163,706 | -€173,658 | -51.5% |
| Financial charges | 65/66B | €6,616 | €8,297 | +€1,680 | +25.4% |
| Recurring financial charges | 65 | €6,616 | €8,297 | +€1,680 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €327,116 | €146,356 | -€180,760 | -55.3% |
| Profit (loss) for the period | 9904 | €327,116 | €146,356 | -€180,760 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €327,116 | €146,356 | -€180,760 | -55.3% |
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 1 November 2026 via checked.be.