H&S: 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&S
Largest movements
- Stocks and contracts +€35,164
up €35,164 (+11.6%), from €303,593 to €338,758
- Cash +€18,257
up €18,257 (+3152.9%), from €579 to €18,836
mainly Net result for the year (+€43,764) and Tax, wage and social debts (+€9,146)
- Reserves +€36,737
new in 2025: €36,737
- Tax, wage and social debts +€9,146
new in 2025: €9,146
- Profit (loss) carried forward +€7,027
up €7,027, from -€7,027 to €0
- Gross operating margin +€59,685
up €59,685, from -€6,075 to €53,611
- Taxes +€9,184
new in 2025: €9,184
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 | €304,503 | €357,594 | +€53,091 | +17.4% |
| Current assets | 29/58 | €304,503 | €357,594 | +€53,091 | +17.4% |
| Stocks and contracts in progress | 3 | €303,593 | €338,758 | +€35,164 | +11.6% |
| Stocks | 30/36 | €303,593 | €338,758 | +€35,164 | +11.6% |
| Cash at bank and in hand | 54/58 | €579 | €18,836 | +€18,257 | +3152.9% |
| Deferred charges and accrued income | 490/1 | €331 | €0 | -€331 | -100.0% |
| Total equity and liabilities | 10/49 | €304,503 | €357,594 | +€53,091 | +17.4% |
| Equity | 10/15 | -€2,027 | €41,737 | +€43,764 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €36,737 | +€36,737 | |
| Distributable reserves | 133 | - | €36,737 | +€36,737 | |
| Profit (loss) carried forward | 14 | -€7,027 | €0 | +€7,027 | |
| Amounts payable | 17/49 | €306,531 | €315,857 | +€9,326 | +3.0% |
| Amounts payable within one year | 42/48 | €306,531 | €315,591 | +€9,060 | +3.0% |
| Trade debts | 44 | €331 | €245 | -€85 | -25.9% |
| Suppliers | 440/4 | €331 | €245 | -€85 | -25.9% |
| Taxes, remuneration and social security | 45 | - | €9,146 | +€9,146 | |
| Taxes | 450/3 | - | €9,146 | +€9,146 | |
| Other amounts payable | 47/48 | €306,200 | €306,200 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €266 | +€266 | |
| Other operating charges | 640/8 | €890 | €746 | -€144 | -16.2% |
| Gross operating margin | 9900 | -€6,075 | €53,611 | +€59,685 | |
| Operating profit (loss) | 9901 | -€6,964 | €52,865 | +€59,829 | |
| Financial income | 75/76B | - | €129 | +€129 | |
| Recurring financial income | 75 | - | €129 | +€129 | |
| Financial charges | 65/66B | €63 | €45 | -€18 | -28.7% |
| Recurring financial charges | 65 | €63 | €45 | -€18 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,027 | €52,949 | +€59,976 | |
| Income taxes | 67/77 | - | €9,184 | +€9,184 | |
| Profit (loss) for the period | 9904 | -€7,027 | €43,764 | +€50,792 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,027 | €43,764 | +€50,792 |
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 2 October 2026 via checked.be.