H&S GROUP: what changed
What changed
H&S GROUP
NACE 47.711, Retail sale of women's outerwear
filed annual accounts (NBB)
Net result for the year
€10,345
2024 · €11,481-€1,136
Equity
€70,735
2024 · €60,390+€10,345
Cash
€5,872
2024 · €5,927-€55
Balance sheet total
€229,156
2024 · €169,876+€59,280
Largest movements
Assets
- Stocks and contracts +€22,458
up €22,458 (+16.8%), from €133,708 to €156,167
- Deferred charges and accrued income +€18,196
up €18,196 (+63.1%), from €28,833 to €47,029
- Tangible fixed assets +€10,138
up €10,138 (+1,503%), from €674 to €10,813
- Receivables within one year +€9,275
new in 2025: €9,275
Equity and liabilities
- Trade debts +€62,463
up €62,463 (+106%), from €58,762 to €121,225
- Tax, wage and social debts -€13,528
down €13,528 (-26.7%), from €50,574 to €37,045
of which Taxes: -€15,811
- Profit (loss) carried forward +€10,345
up €10,345 (+21.6%), from €47,992 to €58,336
Income statement
- Gross operating margin +€28,104
up €28,104 (+11.3%), from €248,056 to €276,160
- Staff costs +€20,688
up €20,688 (+9.4%), from €219,205 to €239,894
- Financial charges +€6,137
up €6,137 (+586%), from €1,047 to €7,184
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€11,481
Gross operating margin
+€28,104
Staff costs
-€20,688
Depreciation
-€570
Other operating charges
-€820
Financial charges
-€6,137
Taxes
-€1,025
Result 2025
€10,345
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€11,417
Investment
-€11,472
Financing
€0
Cash 2024
€5,927
From operations (derived)
+€11,417
Net result for the year
+€10,345
Depreciation
+€2,067
Stocks and contracts
-€22,458
Receivables within one year
-€9,275
Deferred charges and accrued income
-€18,196
Trade debts
+€62,463
Tax, wage and social debts
-€13,528
Investment (derived)
-€11,472
Investment in fixed assets (net)
-€11,472
Cash 2025
€5,872
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,876 | €229,156 | +€59,280 | +34.9% |
| Fixed assets | 21/28 | €1,408 | €10,813 | +€9,405 | +668% |
| Intangible fixed assets | 21 | €733 | - | -€733 | |
| Tangible fixed assets | 22/27 | €674 | €10,813 | +€10,138 | +1,503% |
| Plant, machinery and equipment | 23 | €460 | €5,267 | +€4,807 | +1,045% |
| Furniture and vehicles | 24 | €214 | €627 | +€412 | +192% |
| Other tangible fixed assets | 26 | - | €4,918 | +€4,918 | |
| Current assets | 29/58 | €168,468 | €218,343 | +€49,875 | +29.6% |
| Stocks and contracts in progress | 3 | €133,708 | €156,167 | +€22,458 | +16.8% |
| Stocks | 30/36 | €133,708 | €156,167 | +€22,458 | +16.8% |
| Amounts receivable within one year | 40/41 | - | €9,275 | +€9,275 | |
| Trade receivables | 40 | - | €9,275 | +€9,275 | |
| Cash at bank and in hand | 54/58 | €5,927 | €5,872 | -€55 | -0.9% |
| Deferred charges and accrued income | 490/1 | €28,833 | €47,029 | +€18,196 | +63.1% |
| Total equity and liabilities | 10/49 | €169,876 | €229,156 | +€59,280 | +34.9% |
| Equity | 10/15 | €60,390 | €70,735 | +€10,345 | +17.1% |
| Contributions | 10/11 | €12,399 | €12,399 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,992 | €58,336 | +€10,345 | +21.6% |
| Amounts payable | 17/49 | €109,486 | €158,421 | +€48,935 | +44.7% |
| Amounts payable within one year | 42/48 | €109,486 | €158,421 | +€48,935 | +44.7% |
| Trade debts | 44 | €58,762 | €121,225 | +€62,463 | +106% |
| Suppliers | 440/4 | €58,762 | €121,225 | +€62,463 | +106% |
| Taxes, remuneration and social security | 45 | €50,574 | €37,045 | -€13,528 | -26.7% |
| Taxes | 450/3 | €28,617 | €12,806 | -€15,811 | -55.2% |
| Remuneration and social security | 454/9 | €21,957 | €24,239 | +€2,282 | +10.4% |
| Other amounts payable | 47/48 | €150 | €150 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €219,205 | €239,894 | +€20,688 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,498 | €2,067 | +€570 | +38.1% |
| Other operating charges | 640/8 | €12,643 | €13,463 | +€820 | +6.5% |
| Gross operating margin | 9900 | €248,056 | €276,160 | +€28,104 | +11.3% |
| Operating profit (loss) | 9901 | €14,710 | €20,735 | +€6,026 | +41.0% |
| Financial charges | 65/66B | €1,047 | €7,184 | +€6,137 | +586% |
| Recurring financial charges | 65 | €1,047 | €7,184 | +€6,137 | +586% |
| Profit (loss) for the period before taxes | 9903 | €13,663 | €13,551 | -€112 | -0.8% |
| Income taxes | 67/77 | €2,182 | €3,207 | +€1,025 | +47.0% |
| Profit (loss) for the period | 9904 | €11,481 | €10,345 | -€1,136 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,481 | €10,345 | -€1,136 | -9.9% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.