Michaël Houbben Avocat: 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.
Michaël Houbben Avocat
Largest movements
- Cash +€66,302
up €66,302 (+66.6%), from €99,570 to €165,872
mainly Net result for the year (+€35,922) and Trade debts (+€32,890)
- Receivables within one year +€14,520
new in 2025: €14,520
- Reserves +€35,922
up €35,922 (+53.8%), from €66,828 to €102,749
of which Distributable reserves: +€35,922
- Trade debts +€32,890
up €32,890 (+22,840%), from €144 to €33,034
- Tax, wage and social debts +€9,320
up €9,320 (+56.6%), from €16,468 to €25,788
- Other debts +€2,349
up €2,349 (+13.5%), from €17,433 to €19,782
- Taxes +€30,364
up €30,364 (+456%), from €6,658 to €37,022
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 | €103,372 | €183,854 | +€80,481 | +77.9% |
| Fixed assets | 21/28 | €3,803 | €3,418 | -€384 | -10.1% |
| Tangible fixed assets | 22/27 | €3,803 | €3,418 | -€384 | -10.1% |
| Plant, machinery and equipment | 23 | €3,803 | €3,418 | -€384 | -10.1% |
| Current assets | 29/58 | €99,570 | €180,436 | +€80,866 | +81.2% |
| Amounts receivable within one year | 40/41 | - | €14,520 | +€14,520 | |
| Trade receivables | 40 | - | €14,520 | +€14,520 | |
| Cash at bank and in hand | 54/58 | €99,570 | €165,872 | +€66,302 | +66.6% |
| Deferred charges and accrued income | 490/1 | - | €43 | +€43 | |
| Total equity and liabilities | 10/49 | €103,372 | €183,854 | +€80,481 | +77.9% |
| Equity | 10/15 | €69,328 | €105,249 | +€35,922 | +51.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €66,828 | €102,749 | +€35,922 | +53.8% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Other | 1319 | €250 | €250 | = | 0.0% |
| Distributable reserves | 133 | €66,578 | €102,499 | +€35,922 | +54.0% |
| Amounts payable | 17/49 | €34,045 | €78,605 | +€44,560 | +131% |
| Amounts payable within one year | 42/48 | €34,045 | €78,605 | +€44,560 | +131% |
| Trade debts | 44 | €144 | €33,034 | +€32,890 | +22,840% |
| Suppliers | 440/4 | €144 | €33,034 | +€32,890 | +22,840% |
| Taxes, remuneration and social security | 45 | €16,468 | €25,788 | +€9,320 | +56.6% |
| Taxes | 450/3 | €16,468 | €25,788 | +€9,320 | +56.6% |
| Other amounts payable | 47/48 | €17,433 | €19,782 | +€2,349 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41 | €384 | +€343 | +829% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €73,929 | €73,992 | +€63 | +0.1% |
| Operating profit (loss) | 9901 | €73,500 | €73,208 | -€292 | -0.4% |
| Financial charges | 65/66B | €15 | €264 | +€249 | +1,663% |
| Recurring financial charges | 65 | €15 | €264 | +€249 | +1,663% |
| Profit (loss) for the period before taxes | 9903 | €73,485 | €72,944 | -€542 | -0.7% |
| Income taxes | 67/77 | €6,658 | €37,022 | +€30,364 | +456% |
| Profit (loss) for the period | 9904 | €66,828 | €35,922 | -€30,906 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €66,828 | €35,922 | -€30,906 | -46.2% |
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.