H.L.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.L.S.
Largest movements
- Receivables within one year +€11,667
up €11,667 (+620%), from €1,882 to €13,550
of which Trade receivables: +€10,561
- Cash +€2,441
up €2,441 (+95.8%), from €2,548 to €4,989
mainly Other debts (+€14,251) and Depreciation (+€6,930)
- Tangible fixed assets +€1,970
up €1,970 (+10.2%), from €19,257 to €21,227
- Other debts +€14,251
up €14,251 (+29.9%), from €47,584 to €61,835
- Tax, wage and social debts +€4,148
up €4,148 (+160%), from €2,595 to €6,743
of which Remuneration and social security: +€4,146
- Current portion of long-term debt -€3,290
no longer reported in 2025 (was €3,290)
- Profit (loss) carried forward +€969
up €969 (+2.0%), from -€48,457 to -€47,487
- Turnover +€32,275
up €32,275 (+35.6%), from €90,668 to €122,944
- Gross operating margin +€23,978
up €23,978 (+47.6%), from €50,323 to €74,300
- Staff costs +€8,518
up €8,518 (+18.7%), from €45,589 to €54,107
- Purchases and services +€8,298
up €8,298 (+20.6%), from €40,346 to €48,643
- Depreciation +€6,930
new in 2025: €6,930
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 | €23,687 | €39,766 | +€16,078 | +67.9% |
| Fixed assets | 21/28 | €19,257 | €21,227 | +€1,970 | +10.2% |
| Tangible fixed assets | 22/27 | €19,257 | €21,227 | +€1,970 | +10.2% |
| Furniture and vehicles | 24 | €19,257 | €21,227 | +€1,970 | +10.2% |
| Current assets | 29/58 | €4,431 | €18,539 | +€14,108 | +318% |
| Amounts receivable within one year | 40/41 | €1,882 | €13,550 | +€11,667 | +620% |
| Trade receivables | 40 | €413 | €10,975 | +€10,561 | +2,556% |
| Other amounts receivable | 41 | €1,469 | €2,575 | +€1,106 | +75.3% |
| Cash at bank and in hand | 54/58 | €2,548 | €4,989 | +€2,441 | +95.8% |
| Total equity and liabilities | 10/49 | €23,687 | €39,766 | +€16,078 | +67.9% |
| Equity | 10/15 | -€29,781 | -€28,812 | +€969 | +3.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €83 | €83 | = | 0.0% |
| Distributable reserves | 133 | €83 | €83 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,457 | -€47,487 | +€969 | +2.0% |
| Amounts payable | 17/49 | €53,469 | €68,578 | +€15,109 | +28.3% |
| Amounts payable within one year | 42/48 | €53,469 | €68,578 | +€15,109 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €3,290 | - | -€3,290 | |
| Taxes, remuneration and social security | 45 | €2,595 | €6,743 | +€4,148 | +160% |
| Taxes | 450/3 | - | €2 | +€2 | |
| Remuneration and social security | 454/9 | €2,595 | €6,741 | +€4,146 | +160% |
| Other amounts payable | 47/48 | €47,584 | €61,835 | +€14,251 | +29.9% |
| Turnover | 70 | €90,668 | €122,944 | +€32,275 | +35.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €40,346 | €48,643 | +€8,298 | +20.6% |
| Remuneration, social security and pensions | 62 | €45,589 | €54,107 | +€8,518 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,930 | +€6,930 | |
| Other operating charges | 640/8 | €3,520 | €8,844 | +€5,324 | +151% |
| Gross operating margin | 9900 | €50,323 | €74,300 | +€23,978 | +47.6% |
| Operating profit (loss) | 9901 | €1,214 | €4,419 | +€3,205 | +264% |
| Financial charges | 65/66B | €278 | €490 | +€212 | +76.4% |
| Recurring financial charges | 65 | €278 | €490 | +€212 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €936 | €3,929 | +€2,993 | +320% |
| Income taxes | 67/77 | - | €2,960 | +€2,960 | |
| Profit (loss) for the period | 9904 | €936 | €969 | +€33 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €936 | €969 | +€33 | +3.5% |
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 26 October 2026 via checked.be.