H.B.S.: 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.
H.B.S.
Largest movements
- Current investments -€422,869
no longer reported in 2025 (was €422,869)
- Tangible fixed assets +€140,007
up €140,007 (+69.9%), from €200,435 to €340,442
of which Other tangible fixed assets: +€183,674
- Cash -€82,744
down €82,744 (-91.9%), from €90,024 to €7,281
mainly Other debts (-€349,300) and Investment in fixed assets (net) (-€184,655)
- Other debts -€349,300
down €349,300 (-84.3%), from €414,116 to €64,816
- Current portion of long-term debt -€36,798
no longer reported in 2025 (was €36,798)
- Profit (loss) carried forward +€14,877
up €14,877 (+6.2%), from -€238,818 to -€223,942
- Gross operating margin -€376,802
down €376,802 (-93.6%), from €402,694 to €25,892
- Taxes -€73,598
down €73,598 (-93.0%), from €79,117 to €5,520
- Financial income +€25,731
up €25,731 (+110%), from €23,460 to €49,191
- Depreciation -€9,107
down €9,107 (-16.9%), from €53,755 to €44,648
- Other operating charges -€8,202
down €8,202 (-51.6%), from €15,887 to €7,684
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 | €930,807 | €558,524 | -€372,282 | -40.0% |
| Fixed assets | 21/28 | €200,435 | €340,442 | +€140,007 | +69.9% |
| Tangible fixed assets | 22/27 | €200,435 | €340,442 | +€140,007 | +69.9% |
| Land and buildings | 22 | €200,435 | €156,768 | -€43,667 | -21.8% |
| Other tangible fixed assets | 26 | - | €183,674 | +€183,674 | |
| Current assets | 29/58 | €730,372 | €218,082 | -€512,290 | -70.1% |
| Amounts receivable within one year | 40/41 | €217,478 | €208,259 | -€9,220 | -4.2% |
| Trade receivables | 40 | €204,558 | €195,338 | -€9,220 | -4.5% |
| Other amounts receivable | 41 | €12,921 | €12,921 | = | 0.0% |
| Current investments | 50/53 | €422,869 | - | -€422,869 | |
| Cash at bank and in hand | 54/58 | €90,024 | €7,281 | -€82,744 | -91.9% |
| Deferred charges and accrued income | 490/1 | - | €2,543 | +€2,543 | |
| Total equity and liabilities | 10/49 | €930,807 | €558,524 | -€372,282 | -40.0% |
| Equity | 10/15 | €473,323 | €488,199 | +€14,877 | +3.1% |
| Contributions | 10/11 | €478,000 | €478,000 | = | 0.0% |
| Capital | 10 | €478,000 | €478,000 | = | 0.0% |
| Issued capital | 100 | €478,000 | €478,000 | = | 0.0% |
| Reserves | 13 | €234,141 | €234,141 | = | 0.0% |
| Non-distributable reserves | 130/1 | €43,783 | €43,783 | = | 0.0% |
| Legal reserve | 130 | €43,783 | €43,783 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €171,608 | €171,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,818 | -€223,942 | +€14,877 | +6.2% |
| Amounts payable | 17/49 | €457,484 | €70,325 | -€387,159 | -84.6% |
| Amounts payable within one year | 42/48 | €456,725 | €70,325 | -€386,400 | -84.6% |
| Current portion of amounts payable after more than one year | 42 | €36,798 | - | -€36,798 | |
| Trade debts | 44 | €5,811 | €2,861 | -€2,950 | -50.8% |
| Suppliers | 440/4 | €5,811 | €2,861 | -€2,950 | -50.8% |
| Taxes, remuneration and social security | 45 | - | €2,648 | +€2,648 | |
| Taxes | 450/3 | - | €2,648 | +€2,648 | |
| Other amounts payable | 47/48 | €414,116 | €64,816 | -€349,300 | -84.3% |
| Accrued charges and deferred income | 492/3 | €759 | - | -€759 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,755 | €44,648 | -€9,107 | -16.9% |
| Other operating charges | 640/8 | €15,887 | €7,684 | -€8,202 | -51.6% |
| Gross operating margin | 9900 | €402,694 | €25,892 | -€376,802 | -93.6% |
| Operating profit (loss) | 9901 | €333,052 | -€26,440 | -€359,493 | |
| Financial income | 75/76B | €23,460 | €49,191 | +€25,731 | +110% |
| Recurring financial income | 75 | €23,460 | €49,191 | +€25,731 | +110% |
| Financial charges | 65/66B | €8,348 | €2,355 | -€5,993 | -71.8% |
| Recurring financial charges | 65 | €8,348 | €2,355 | -€5,993 | -71.8% |
| Profit (loss) for the period before taxes | 9903 | €348,165 | €20,396 | -€327,769 | -94.1% |
| Income taxes | 67/77 | €79,117 | €5,520 | -€73,598 | -93.0% |
| Profit (loss) for the period | 9904 | €269,048 | €14,877 | -€254,171 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €269,048 | €14,877 | -€254,171 | -94.5% |
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 13 October 2026 via checked.be.