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
- Cash +€122,826
up €122,826 (+566%), from €21,690 to €144,516
mainly Current investments (+€89,424) and Net result for the year (+€84,566)
- Current investments -€89,424
down €89,424 (-7.5%), from €1.2m to €1.1m
- Receivables within one year -€44,460
down €44,460 (-59.3%), from €74,921 to €30,460
of which Trade receivables: -€39,631
- Deferred charges and accrued income +€15,744
up €15,744 (+27.5%), from €57,167 to €72,911
- Profit (loss) carried forward +€84,566
up €84,566 (+9.0%), from €940,705 to €1.0m
- Advances received -€61,053
no longer reported in 2025 (was €61,053)
- Other debts -€41,178
down €41,178 (-10.9%), from €378,303 to €337,125
- Financial income +€50,519
up €50,519 (+132%), from €38,401 to €88,920
of which Financial income: +€50,519
- Gross operating margin +€14,403
up €14,403 (+24.7%), from €58,219 to €72,622
- Taxes +€12,184
up €12,184 (+94.1%), from €12,944 to €25,128
- Depreciation +€8,708
up €8,708 (+144%), from €6,056 to €14,763
- Financial charges +€802
up €802 (+2.4%), from €32,847 to €33,649
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 | €1,481,576 | €1,475,150 | -€6,426 | -0.4% |
| Fixed assets | 21/28 | €142,454 | €131,341 | -€11,112 | -7.8% |
| Tangible fixed assets | 22/27 | €142,454 | €131,341 | -€11,112 | -7.8% |
| Land and buildings | 22 | €78,722 | €80,146 | +€1,424 | +1.8% |
| Plant, machinery and equipment | 23 | €3,109 | €2,145 | -€964 | -31.0% |
| Furniture and vehicles | 24 | €60,623 | €49,050 | -€11,573 | -19.1% |
| Current assets | 29/58 | €1,339,123 | €1,343,809 | +€4,686 | +0.3% |
| Amounts receivable within one year | 40/41 | €74,921 | €30,460 | -€44,460 | -59.3% |
| Trade receivables | 40 | €56,716 | €17,085 | -€39,631 | -69.9% |
| Other amounts receivable | 41 | €18,204 | €13,375 | -€4,829 | -26.5% |
| Current investments | 50/53 | €1,185,345 | €1,095,921 | -€89,424 | -7.5% |
| Cash at bank and in hand | 54/58 | €21,690 | €144,516 | +€122,826 | +566% |
| Deferred charges and accrued income | 490/1 | €57,167 | €72,911 | +€15,744 | +27.5% |
| Total equity and liabilities | 10/49 | €1,481,576 | €1,475,150 | -€6,426 | -0.4% |
| Equity | 10/15 | €1,008,905 | €1,093,472 | +€84,566 | +8.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €940,705 | €1,025,272 | +€84,566 | +9.0% |
| Amounts payable | 17/49 | €472,671 | €381,678 | -€90,993 | -19.3% |
| Amounts payable within one year | 42/48 | €451,407 | €360,654 | -€90,753 | -20.1% |
| Trade debts | 44 | €3,537 | €11,529 | +€7,992 | +226% |
| Suppliers | 440/4 | €3,537 | €11,529 | +€7,992 | +226% |
| Advances received on contracts in progress | 46 | €61,053 | - | -€61,053 | |
| Taxes, remuneration and social security | 45 | €8,514 | €12,000 | +€3,486 | +40.9% |
| Taxes | 450/3 | €8,514 | €12,000 | +€3,486 | +40.9% |
| Other amounts payable | 47/48 | €378,303 | €337,125 | -€41,178 | -10.9% |
| Accrued charges and deferred income | 492/3 | €21,264 | €21,024 | -€239 | -1.1% |
| Non-recurring operating income | 76A | €10,106 | - | -€10,106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,056 | €14,763 | +€8,708 | +144% |
| Other operating charges | 640/8 | €3,515 | €3,436 | -€79 | -2.2% |
| Gross operating margin | 9900 | €58,219 | €72,622 | +€14,403 | +24.7% |
| Operating profit (loss) | 9901 | €48,648 | €54,423 | +€5,774 | +11.9% |
| Financial income | 75/76B | €38,401 | €88,920 | +€50,519 | +132% |
| Recurring financial income | 75 | €38,401 | €88,920 | +€50,519 | +132% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €32,847 | €33,649 | +€802 | +2.4% |
| Recurring financial charges | 65 | €32,847 | €33,649 | +€802 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €54,203 | €109,694 | +€55,492 | +102% |
| Income taxes | 67/77 | €12,944 | €25,128 | +€12,184 | +94.1% |
| Profit (loss) for the period | 9904 | €41,259 | €84,566 | +€43,308 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €41,259 | €84,566 | +€43,308 | +105% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.