2HB: 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.
What changed
2HB
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€928
2024 · -€9,884+€10,813
Equity
€262,145
2024 · €265,858-€3,713
Cash
€14,233
2024 · €15,028-€795
Balance sheet total
€970,944
2024 · €1.0m-€73,464
Largest movements
Assets
- Tangible fixed assets -€48,996
down €48,996 (-14.1%), from €347,522 to €298,527
of which Land and buildings: -€31,285
- Deferred charges and accrued income -€27,689
no longer reported in 2025 (was €27,689)
Equity and liabilities
- Debts after one year -€153,375
down €153,375 (-37.6%), from €407,998 to €254,623
of which Other amounts payable: -€104,175
- Accrued charges and deferred income +€76,000
new in 2025: €76,000
- Trade debts +€14,867
up €14,867 (+5.6%), from €263,634 to €278,501
- Current portion of long-term debt -€13,775
down €13,775 (-21.4%), from €64,462 to €50,687
Income statement
- Staff costs -€38,946
down €38,946 (-19.5%), from €199,594 to €160,648
- Gross operating margin -€28,870
down €28,870 (-11.7%), from €247,500 to €218,629
- Depreciation -€3,403
down €3,403 (-6.5%), from €52,399 to €48,996
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.
Result 2024
-€9,884
Gross operating margin
-€28,870
Staff costs
+€38,946
Depreciation
+€3,403
Write-downs
+€927
Other operating charges
+€93
Financial income
-€1,764
Financial charges
-€1,922
Result 2025
€928
raises the resultlowers the result
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.
From operations
+€171,022
Investment
€0
Financing
-€171,817
Cash 2024
€15,028
From operations (derived)
+€171,022
Net result for the year
+€928
Depreciation
+€48,996
Stocks and contracts
+€5,855
Receivables within one year
-€9,871
Deferred charges and accrued income
+€27,689
Trade debts
+€14,867
Tax, wage and social debts
-€506
Other debts
+€7,065
Accrued charges and deferred income
+€76,000
Financing
-€171,817
Debts after one year
-€153,375
Current portion of long-term debt
-€13,775
Short-term financial debts
-€26
Contributions, distributions and other
-€4,641
Cash 2025
€14,233
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,044,407 | €970,944 | -€73,464 | -7.0% |
| Fixed assets | 21/28 | €347,688 | €298,692 | -€48,996 | -14.1% |
| Tangible fixed assets | 22/27 | €347,522 | €298,527 | -€48,996 | -14.1% |
| Land and buildings | 22 | €296,616 | €265,331 | -€31,285 | -10.5% |
| Plant, machinery and equipment | 23 | €38,564 | €23,505 | -€15,059 | -39.1% |
| Furniture and vehicles | 24 | €12,343 | €9,691 | -€2,652 | -21.5% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €696,720 | €672,252 | -€24,468 | -3.5% |
| Stocks and contracts in progress | 3 | €183,260 | €177,405 | -€5,855 | -3.2% |
| Stocks | 30/36 | €183,260 | €177,405 | -€5,855 | -3.2% |
| Amounts receivable within one year | 40/41 | €470,743 | €480,614 | +€9,871 | +2.1% |
| Trade receivables | 40 | €466,569 | €474,676 | +€8,107 | +1.7% |
| Other amounts receivable | 41 | €4,173 | €5,938 | +€1,764 | +42.3% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,028 | €14,233 | -€795 | -5.3% |
| Deferred charges and accrued income | 490/1 | €27,689 | - | -€27,689 | |
| Total equity and liabilities | 10/49 | €1,044,407 | €970,944 | -€73,464 | -7.0% |
| Equity | 10/15 | €265,858 | €262,145 | -€3,713 | -1.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,011 | €33,940 | +€928 | +2.8% |
| Investment grants | 15 | €27,847 | €23,206 | -€4,641 | -16.7% |
| Amounts payable | 17/49 | €778,549 | €708,798 | -€69,751 | -9.0% |
| Amounts payable after more than one year | 17 | €407,998 | €254,623 | -€153,375 | -37.6% |
| Financial debts | 170/4 | €67,322 | €18,122 | -€49,200 | -73.1% |
| Other amounts payable | 178/9 | €340,676 | €236,501 | -€104,175 | -30.6% |
| Amounts payable within one year | 42/48 | €370,551 | €378,175 | +€7,624 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €64,462 | €50,687 | -€13,775 | -21.4% |
| Financial debts | 43 | €26 | - | -€26 | |
| Credit institutions | 430/8 | €26 | - | -€26 | |
| Trade debts | 44 | €263,634 | €278,501 | +€14,867 | +5.6% |
| Suppliers | 440/4 | €263,634 | €278,501 | +€14,867 | +5.6% |
| Taxes, remuneration and social security | 45 | €42,180 | €41,674 | -€506 | -1.2% |
| Taxes | 450/3 | €23,472 | €23,717 | +€244 | +1.0% |
| Remuneration and social security | 454/9 | €18,707 | €17,957 | -€750 | -4.0% |
| Other amounts payable | 47/48 | €249 | €7,314 | +€7,065 | +2,835% |
| Accrued charges and deferred income | 492/3 | - | €76,000 | +€76,000 | |
| Remuneration, social security and pensions | 62 | €199,594 | €160,648 | -€38,946 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,399 | €48,996 | -€3,403 | -6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €276 | -€651 | -€927 | |
| Other operating charges | 640/8 | €6,534 | €6,441 | -€93 | -1.4% |
| Gross operating margin | 9900 | €247,500 | €218,629 | -€28,870 | -11.7% |
| Operating profit (loss) | 9901 | -€11,304 | €3,195 | +€14,499 | |
| Financial income | 75/76B | €11,036 | €9,272 | -€1,764 | -16.0% |
| Recurring financial income | 75 | €11,036 | €9,272 | -€1,764 | -16.0% |
| Financial charges | 65/66B | €9,616 | €11,538 | +€1,922 | +20.0% |
| Recurring financial charges | 65 | €9,616 | €11,538 | +€1,922 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,884 | €928 | +€10,813 | |
| Profit (loss) for the period | 9904 | -€9,884 | €928 | +€10,813 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,884 | €928 | +€10,813 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.