H.B. ORGANISATION: 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
H.B. ORGANISATION
NACE 46.160, Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12,686
2024 · €65,080-€52,395
Equity
€2.3m
2024 · €2.3m+€12,686
Cash
€12,390
2024 · €264,872-€252,483
Balance sheet total
€3.6m
2024 · €3.0m+€624,053
Largest movements
Assets
- Tangible fixed assets +€883,333
up €883,333 (+241%), from €366,426 to €1.2m
of which Land and buildings: +€914,217
- Cash -€252,483
down €252,483 (-95.3%), from €264,872 to €12,390
mainly Investment in fixed assets (net) (-€914,740) and Tax, wage and social debts (-€6,139)
Equity and liabilities
- Debts after one year +€555,440
new in 2025: €555,440
Income statement
- Gross operating margin -€42,533
down €42,533 (-28.4%), from €149,773 to €107,240
- Depreciation +€24,713
up €24,713 (+369%), from €6,694 to €31,407
- Taxes -€22,512
down €22,512 (-70.1%), from €32,119 to €9,607
- Financial charges +€8,421
up €8,421 (+19.3%), from €43,665 to €52,087
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
€65,080
Gross operating margin
-€42,533
Depreciation
-€24,713
Other operating charges
-€344
Financial income
+€143
Financial charges
-€8,421
Taxes
+€22,512
Deferred taxes and other
+€961
Result 2025
€12,686
raises the resultlowers the resultnot broken down further in the accounts
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
+€75,106
Investment
-€914,740
Financing
+€587,151
Cash 2024
€264,872
From operations (derived)
+€75,106
Net result for the year
+€12,686
Depreciation
+€31,407
Receivables within one year
-€4,834
Deferred charges and accrued income
+€11,630
Smaller working-capital items
-€3,681
Tax, wage and social debts
-€6,139
Other debts
+€34,036
Investment (derived)
-€914,740
Investment in fixed assets (net)
-€914,740
Financing
+€587,151
Debts after one year
+€555,440
Current portion of long-term debt
+€31,711
Cash 2025
€12,390
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,978,512 | €3,602,565 | +€624,053 | +21.0% |
| Fixed assets | 21/28 | €968,019 | €1,851,352 | +€883,333 | +91.3% |
| Tangible fixed assets | 22/27 | €366,426 | €1,249,759 | +€883,333 | +241% |
| Land and buildings | 22 | €22,305 | €936,522 | +€914,217 | +4,099% |
| Furniture and vehicles | 24 | €6,786 | €1,172 | -€5,615 | -82.7% |
| Other tangible fixed assets | 26 | €337,335 | €312,065 | -€25,270 | -7.5% |
| Financial fixed assets | 28 | €601,593 | €601,593 | = | 0.0% |
| Current assets | 29/58 | €2,010,492 | €1,751,213 | -€259,280 | -12.9% |
| Amounts receivable within one year | 40/41 | €1,725,228 | €1,730,062 | +€4,834 | +0.3% |
| Trade receivables | 40 | €18,450 | €0 | -€18,450 | -100% |
| Other amounts receivable | 41 | €1,706,778 | €1,730,062 | +€23,284 | +1.4% |
| Cash at bank and in hand | 54/58 | €264,872 | €12,390 | -€252,483 | -95.3% |
| Deferred charges and accrued income | 490/1 | €20,392 | €8,762 | -€11,630 | -57.0% |
| Total equity and liabilities | 10/49 | €2,978,512 | €3,602,565 | +€624,053 | +21.0% |
| Equity | 10/15 | €2,267,280 | €2,279,965 | +€12,686 | +0.6% |
| Contributions | 10/11 | €56,451 | €56,451 | = | 0.0% |
| Reserves | 13 | €502,026 | €514,143 | +€12,117 | +2.4% |
| Tax-exempt reserves | 132 | €217,026 | €214,143 | -€2,883 | -1.3% |
| Distributable reserves | 133 | €285,000 | €300,000 | +€15,000 | +5.3% |
| Profit (loss) carried forward | 14 | €1,708,803 | €1,709,371 | +€568 | 0.0% |
| Provisions and deferred taxes | 16 | €72,342 | €71,381 | -€961 | -1.3% |
| Deferred taxes | 168 | €72,342 | €71,381 | -€961 | -1.3% |
| Amounts payable | 17/49 | €638,890 | €1,251,218 | +€612,329 | +95.8% |
| Amounts payable after more than one year | 17 | - | €555,440 | +€555,440 | |
| Financial debts | 170/4 | - | €555,440 | +€555,440 | |
| Amounts payable within one year | 42/48 | €593,103 | €651,226 | +€58,122 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | - | €31,711 | +€31,711 | |
| Trade debts | 44 | €13,024 | €11,538 | -€1,486 | -11.4% |
| Suppliers | 440/4 | €13,024 | €11,538 | -€1,486 | -11.4% |
| Taxes, remuneration and social security | 45 | €22,574 | €16,435 | -€6,139 | -27.2% |
| Taxes | 450/3 | €22,574 | €16,435 | -€6,139 | -27.2% |
| Other amounts payable | 47/48 | €557,505 | €591,541 | +€34,036 | +6.1% |
| Accrued charges and deferred income | 492/3 | €45,787 | €44,553 | -€1,234 | -2.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,694 | €31,407 | +€24,713 | +369% |
| Other operating charges | 640/8 | €2,627 | €2,970 | +€344 | +13.1% |
| Gross operating margin | 9900 | €149,773 | €107,240 | -€42,533 | -28.4% |
| Operating profit (loss) | 9901 | €140,452 | €72,863 | -€67,589 | -48.1% |
| Financial income | 75/76B | €413 | €556 | +€143 | +34.7% |
| Recurring financial income | 75 | €413 | €556 | +€143 | +34.7% |
| Financial charges | 65/66B | €43,665 | €52,087 | +€8,421 | +19.3% |
| Recurring financial charges | 65 | €43,665 | €52,087 | +€8,421 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €97,199 | €21,332 | -€75,868 | -78.1% |
| Transfer from deferred taxes | 780 | - | €961 | +€961 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €32,119 | €9,607 | -€22,512 | -70.1% |
| Profit (loss) for the period | 9904 | €65,080 | €12,686 | -€52,395 | -80.5% |
| Transfer from tax-exempt reserves | 789 | - | €2,883 | +€2,883 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €65,080 | €15,568 | -€49,512 | -76.1% |
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 25 October 2026 via checked.be.