H.D.S. GLASTUINBOUW: what changed
Two fiscal 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.D.S. GLASTUINBOUW
Largest movements
- Cash -€239,817
down €239,817 (-47.3%), from €507,012 to €267,195
mainly Other debts (-€294,851) and Debts after one year (-€206,250)
- Tangible fixed assets -€195,467
down €195,467 (-11.1%), from €1.8m to €1.6m
of which Land and buildings: -€101,044
- Deferred charges and accrued income +€145,382
up €145,382 (+437.4%), from €33,240 to €178,622
- Receivables within one year -€74,857
down €74,857 (-19.7%), from €379,786 to €304,930
of which Trade receivables: -€167,169
- Other debts -€294,851
down €294,851 (-42.7%), from €690,651 to €395,800
- Debts after one year -€206,250
down €206,250 (-100.0%), from €206,250 to €0
- Accrued charges and deferred income +€125,715
up €125,715 (+14604.6%), from €861 to €126,576
- Reserves +€110,224
up €110,224 (+6.6%), from €1.7m to €1.8m
- Trade debts -€99,905
down €99,905 (-50.8%), from €196,828 to €96,923
- Gross operating margin -€530,714
down €530,714 (-35.7%), from €1.5m to €955,782
- Taxes -€189,554
down €189,554 (-80.4%), from €235,804 to €46,249
- Staff costs +€44,110
up €44,110 (+9.3%), from €474,652 to €518,761
- Depreciation +€20,600
up €20,600 (+13.2%), from €156,516 to €177,116
- Other operating charges -€14,871
down €14,871 (-25.1%), from €59,257 to €44,386
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.
Cash bridge derived
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 | €3,062,574 | €2,711,192 | -€351,383 | -11.5% |
| Formation expenses | 20 | €8 | €0 | -€8 | -100.0% |
| Fixed assets | 21/28 | €1,789,053 | €1,570,212 | -€218,841 | -12.2% |
| Intangible fixed assets | 21 | €23,374 | €0 | -€23,374 | -100.0% |
| Tangible fixed assets | 22/27 | €1,765,324 | €1,569,857 | -€195,467 | -11.1% |
| Land and buildings | 22 | €1,372,760 | €1,271,716 | -€101,044 | -7.4% |
| Plant, machinery and equipment | 23 | €239,107 | €184,328 | -€54,779 | -22.9% |
| Furniture and vehicles | 24 | €153,457 | €113,813 | -€39,644 | -25.8% |
| Financial fixed assets | 28 | €355 | €355 | = | 0.0% |
| Current assets | 29/58 | €1,273,513 | €1,140,980 | -€132,534 | -10.4% |
| Amounts receivable after more than one year | 29 | €10,841 | €32,523 | +€21,682 | +200.0% |
| Other amounts receivable | 291 | €10,841 | €32,523 | +€21,682 | +200.0% |
| Stocks and contracts in progress | 3 | €157,952 | €161,028 | +€3,076 | +1.9% |
| Stocks | 30/36 | €157,952 | €161,028 | +€3,076 | +1.9% |
| Amounts receivable within one year | 40/41 | €379,786 | €304,930 | -€74,857 | -19.7% |
| Trade receivables | 40 | €336,430 | €169,261 | -€167,169 | -49.7% |
| Other amounts receivable | 41 | €43,357 | €135,669 | +€92,312 | +212.9% |
| Current investments | 50/53 | €184,682 | €196,682 | +€12,000 | +6.5% |
| Cash at bank and in hand | 54/58 | €507,012 | €267,195 | -€239,817 | -47.3% |
| Deferred charges and accrued income | 490/1 | €33,240 | €178,622 | +€145,382 | +437.4% |
| Total equity and liabilities | 10/49 | €3,062,574 | €2,711,192 | -€351,383 | -11.5% |
| Equity | 10/15 | €1,784,399 | €1,892,183 | +€107,784 | +6.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,669,759 | €1,779,983 | +€110,224 | +6.6% |
| Distributable reserves | 133 | €1,669,759 | €1,779,983 | +€110,224 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €14,640 | €12,200 | -€2,440 | -16.7% |
| Provisions and deferred taxes | 16 | €771 | €642 | -€128 | -16.7% |
| Deferred taxes | 168 | €771 | €642 | -€128 | -16.7% |
| Amounts payable | 17/49 | €1,277,405 | €818,367 | -€459,039 | -35.9% |
| Amounts payable after more than one year | 17 | €206,250 | €0 | -€206,250 | -100.0% |
| Financial debts | 170/4 | €206,250 | €0 | -€206,250 | -100.0% |
| Amounts payable within one year | 42/48 | €1,070,294 | €691,791 | -€378,504 | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €45,625 | €75,000 | +€29,375 | +64.4% |
| Financial debts | 43 | €25,468 | €26,922 | +€1,454 | +5.7% |
| Credit institutions | 430/8 | €25,468 | €26,922 | +€1,454 | +5.7% |
| Trade debts | 44 | €196,828 | €96,923 | -€99,905 | -50.8% |
| Suppliers | 440/4 | €196,828 | €96,923 | -€99,905 | -50.8% |
| Taxes, remuneration and social security | 45 | €111,722 | €97,145 | -€14,577 | -13.0% |
| Taxes | 450/3 | €66,815 | €40,839 | -€25,976 | -38.9% |
| Remuneration and social security | 454/9 | €44,907 | €56,306 | +€11,399 | +25.4% |
| Other amounts payable | 47/48 | €690,651 | €395,800 | -€294,851 | -42.7% |
| Accrued charges and deferred income | 492/3 | €861 | €126,576 | +€125,715 | +14604.6% |
| Non-recurring operating income | 76A | €1,000 | €5,000 | +€4,000 | +400.0% |
| Remuneration, social security and pensions | 62 | €474,652 | €518,761 | +€44,110 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,516 | €177,116 | +€20,600 | +13.2% |
| Other operating charges | 640/8 | €59,257 | €44,386 | -€14,871 | -25.1% |
| Non-recurring operating charges | 66A | €2,278 | €22,359 | +€20,081 | +881.4% |
| Gross operating margin | 9900 | €1,486,496 | €955,782 | -€530,714 | -35.7% |
| Operating profit (loss) | 9901 | €793,793 | €193,159 | -€600,634 | -75.7% |
| Financial income | 75/76B | €7,476 | €12,172 | +€4,697 | +62.8% |
| Recurring financial income | 75 | €7,476 | €12,172 | +€4,697 | +62.8% |
| Financial charges | 65/66B | €44,729 | €48,986 | +€4,257 | +9.5% |
| Recurring financial charges | 65 | €44,729 | €48,986 | +€4,257 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €756,539 | €156,345 | -€600,194 | -79.3% |
| Transfer from deferred taxes | 780 | €128 | €128 | = | 0.0% |
| Income taxes | 67/77 | €235,804 | €46,249 | -€189,554 | -80.4% |
| Profit (loss) for the period | 9904 | €520,864 | €110,224 | -€410,640 | -78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €520,864 | €110,224 | -€410,640 | -78.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.