H.S.I.K.: what changed
H.S.I.K.
Largest movements
- Stocks and contracts +€86,888
up €86,888 (+3,389%), from €2,564 to €89,452
- Receivables within one year +€36,696
up €36,696 (+889%), from €4,129 to €40,826
of which Trade receivables: +€37,696
- Trade debts +€109,747
up €109,747 (+3,760%), from €2,918 to €112,665
- Other debts +€31,431
up €31,431 (+279%), from €11,249 to €42,680
- Profit (loss) carried forward -€21,757
down €21,757 (-162%), from -€13,429 to -€35,186
- Tax, wage and social debts +€3,989
up €3,989 (+1,858%), from €215 to €4,203
- Gross operating margin -€7,656
down €7,656 (-57.1%), from -€13,404 to -€21,059
- Other operating charges +€438
up €438 (+502%), from €87 to €526
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,953 | €130,362 | +€123,409 | +1,775% |
| Formation expenses | 20 | €0 | - | = | |
| Current assets | 29/58 | €6,953 | €130,362 | +€123,409 | +1,775% |
| Stocks and contracts in progress | 3 | €2,564 | €89,452 | +€86,888 | +3,389% |
| Stocks | 30/36 | €2,564 | €89,452 | +€86,888 | +3,389% |
| Amounts receivable within one year | 40/41 | €4,129 | €40,826 | +€36,696 | +889% |
| Trade receivables | 40 | €3,067 | €40,763 | +€37,696 | +1,229% |
| Other amounts receivable | 41 | €1,063 | €63 | -€1,000 | -94.1% |
| Cash at bank and in hand | 54/58 | €260 | €84 | -€176 | -67.7% |
| Total equity and liabilities | 10/49 | €6,953 | €130,362 | +€123,409 | +1,775% |
| Equity | 10/15 | -€7,429 | -€29,186 | -€21,757 | -293% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,429 | -€35,186 | -€21,757 | -162% |
| Amounts payable | 17/49 | €14,382 | €159,548 | +€145,166 | +1,009% |
| Amounts payable within one year | 42/48 | €14,382 | €159,548 | +€145,166 | +1,009% |
| Trade debts | 44 | €2,918 | €112,665 | +€109,747 | +3,760% |
| Suppliers | 440/4 | €2,918 | €112,665 | +€109,747 | +3,760% |
| Taxes, remuneration and social security | 45 | €215 | €4,203 | +€3,989 | +1,858% |
| Taxes | 450/3 | €215 | €4,203 | +€3,989 | +1,858% |
| Other amounts payable | 47/48 | €11,249 | €42,680 | +€31,431 | +279% |
| Other operating charges | 640/8 | €87 | €526 | +€438 | +502% |
| Gross operating margin | 9900 | -€13,404 | -€21,059 | -€7,656 | -57.1% |
| Operating profit (loss) | 9901 | -€13,491 | -€21,585 | -€8,094 | -60.0% |
| Financial income | 75/76B | €63 | - | -€63 | |
| Recurring financial income | 75 | €63 | - | -€63 | |
| Financial charges | 65/66B | - | €172 | +€172 | |
| Recurring financial charges | 65 | - | €172 | +€172 | |
| Profit (loss) for the period before taxes | 9903 | -€13,429 | -€21,757 | -€8,329 | -62.0% |
| Profit (loss) for the period | 9904 | -€13,429 | -€21,757 | -€8,329 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,429 | -€21,757 | -€8,329 | -62.0% |
Next steps
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 6 November 2026 via checked.be.