H.S. TEAM: 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.S. TEAM
Largest movements
- Receivables within one year +€115,159
up €115,159 (+43.8%), from €262,893 to €378,052
of which Trade receivables: +€100,159
- Cash -€82,507
down €82,507 (-28.4%), from €290,130 to €207,623
mainly Contributions, distributions and other (-€120,000) and Receivables within one year (-€115,159)
- Tax, wage and social debts +€134,083
up €134,083 (+63.1%), from €212,417 to €346,500
of which Remuneration and social security: +€160,636
- Other debts -€60,987
down €60,987 (-31.1%), from €195,881 to €134,894
- Trade debts -€47,332
down €47,332 (-82.2%), from €57,558 to €10,226
- Profit (loss) carried forward +€7,495
up €7,495 (+21.7%), from €34,571 to €42,066
- Staff costs +€243,109
up €243,109 (+9.8%), from €2.5m to €2.7m
- Gross operating margin +€181,269
up €181,269 (+6.6%), from €2.8m to €2.9m
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 | €567,899 | €600,918 | +€33,019 | +5.8% |
| Fixed assets | 21/28 | €11,703 | €10,029 | -€1,674 | -14.3% |
| Tangible fixed assets | 22/27 | €4,909 | €3,235 | -€1,674 | -34.1% |
| Plant, machinery and equipment | 23 | €4,909 | €3,235 | -€1,674 | -34.1% |
| Financial fixed assets | 28 | €6,794 | €6,794 | = | 0.0% |
| Current assets | 29/58 | €556,196 | €590,889 | +€34,693 | +6.2% |
| Amounts receivable within one year | 40/41 | €262,893 | €378,052 | +€115,159 | +43.8% |
| Trade receivables | 40 | €260,793 | €360,952 | +€100,159 | +38.4% |
| Other amounts receivable | 41 | €2,100 | €17,100 | +€15,000 | +714% |
| Cash at bank and in hand | 54/58 | €290,130 | €207,623 | -€82,507 | -28.4% |
| Deferred charges and accrued income | 490/1 | €3,174 | €5,215 | +€2,041 | +64.3% |
| Total equity and liabilities | 10/49 | €567,899 | €600,918 | +€33,019 | +5.8% |
| Equity | 10/15 | €55,031 | €62,526 | +€7,495 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,571 | €42,066 | +€7,495 | +21.7% |
| Amounts payable | 17/49 | €512,868 | €538,392 | +€25,524 | +5.0% |
| Amounts payable within one year | 42/48 | €512,868 | €538,392 | +€25,524 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €47,013 | €46,772 | -€241 | -0.5% |
| Trade debts | 44 | €57,558 | €10,226 | -€47,332 | -82.2% |
| Suppliers | 440/4 | €57,558 | €10,226 | -€47,332 | -82.2% |
| Taxes, remuneration and social security | 45 | €212,417 | €346,500 | +€134,083 | +63.1% |
| Taxes | 450/3 | €43,067 | €16,515 | -€26,553 | -61.7% |
| Remuneration and social security | 454/9 | €169,349 | €329,985 | +€160,636 | +94.9% |
| Other amounts payable | 47/48 | €195,881 | €134,894 | -€60,987 | -31.1% |
| Remuneration, social security and pensions | 62 | €2,479,080 | €2,722,189 | +€243,109 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,484 | €1,674 | -€2,810 | -62.7% |
| Other operating charges | 640/8 | €1,816 | €24,705 | +€22,889 | +1,261% |
| Non-recurring operating charges | 66A | - | €645 | +€645 | |
| Gross operating margin | 9900 | €2,759,660 | €2,940,928 | +€181,269 | +6.6% |
| Operating profit (loss) | 9901 | €274,280 | €191,715 | -€82,565 | -30.1% |
| Financial income | 75/76B | €630 | €1 | -€629 | -99.9% |
| Recurring financial income | 75 | €630 | €1 | -€629 | -99.9% |
| Financial charges | 65/66B | €9,857 | €4,322 | -€5,535 | -56.2% |
| Recurring financial charges | 65 | €9,857 | €4,322 | -€5,535 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €265,054 | €187,394 | -€77,659 | -29.3% |
| Income taxes | 67/77 | €65,000 | €59,899 | -€5,101 | -7.8% |
| Profit (loss) for the period | 9904 | €200,054 | €127,495 | -€72,558 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €200,054 | €127,495 | -€72,558 | -36.3% |
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 27 October 2026 via checked.be.