H.SEYS: 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.SEYS
Largest movements
- Cash -€12,738
down €12,738 (-64.5%), from €19,737 to €6,999
mainly Receivables within one year (-€10,673) and Debts after one year (-€10,384)
- Receivables within one year +€10,673
up €10,673 (+48.4%), from €22,050 to €32,723
of which Trade receivables: +€9,599
- Tangible fixed assets -€7,361
down €7,361 (-15.9%), from €46,226 to €38,865
of which Leasing and similar rights: -€10,462
- Deferred charges and accrued income -€1,822
down €1,822 (-56.8%), from €3,207 to €1,386
- Debts after one year -€10,384
down €10,384 (-30.3%), from €34,236 to €23,852
- Profit (loss) carried forward -€9,035
down €9,035 (-136.2%), from -€6,636 to -€15,671
- Trade debts +€5,477
up €5,477 (+82.8%), from €6,615 to €12,092
- Tax, wage and social debts +€2,631
up €2,631 (+37.1%), from €7,089 to €9,720
of which Taxes: +€5,131
- Gross operating margin -€23,601
down €23,601 (-70.7%), from €33,390 to €9,789
- Depreciation +€1,424
up €1,424 (+13.7%), from €10,377 to €11,802
- Other operating charges -€1,279
down €1,279 (-28.9%), from €4,429 to €3,150
- Staff costs -€437
down €437 (-23.6%), from €1,850 to €1,414
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 | €91,220 | €79,973 | -€11,247 | -12.3% |
| Fixed assets | 21/28 | €46,226 | €38,865 | -€7,361 | -15.9% |
| Tangible fixed assets | 22/27 | €46,226 | €38,865 | -€7,361 | -15.9% |
| Land and buildings | 22 | - | €4,081 | +€4,081 | |
| Furniture and vehicles | 24 | €2,491 | €1,512 | -€979 | -39.3% |
| Leasing and similar rights | 25 | €43,735 | €33,273 | -€10,462 | -23.9% |
| Current assets | 29/58 | €44,994 | €41,108 | -€3,886 | -8.6% |
| Amounts receivable within one year | 40/41 | €22,050 | €32,723 | +€10,673 | +48.4% |
| Trade receivables | 40 | €22,008 | €31,607 | +€9,599 | +43.6% |
| Other amounts receivable | 41 | €42 | €1,116 | +€1,075 | +2580.0% |
| Cash at bank and in hand | 54/58 | €19,737 | €6,999 | -€12,738 | -64.5% |
| Deferred charges and accrued income | 490/1 | €3,207 | €1,386 | -€1,822 | -56.8% |
| Total equity and liabilities | 10/49 | €91,220 | €79,973 | -€11,247 | -12.3% |
| Equity | 10/15 | €32,961 | €23,925 | -€9,035 | -27.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,397 | €33,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €31,397 | €31,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,636 | -€15,671 | -€9,035 | -136.2% |
| Amounts payable | 17/49 | €58,259 | €56,048 | -€2,211 | -3.8% |
| Amounts payable after more than one year | 17 | €34,236 | €23,852 | -€10,384 | -30.3% |
| Financial debts | 170/4 | €34,236 | €23,852 | -€10,384 | -30.3% |
| Amounts payable within one year | 42/48 | €24,023 | €32,196 | +€8,173 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €10,010 | €10,384 | +€375 | +3.7% |
| Trade debts | 44 | €6,615 | €12,092 | +€5,477 | +82.8% |
| Suppliers | 440/4 | €6,615 | €12,092 | +€5,477 | +82.8% |
| Taxes, remuneration and social security | 45 | €7,089 | €9,720 | +€2,631 | +37.1% |
| Taxes | 450/3 | €3,868 | €8,999 | +€5,131 | +132.6% |
| Remuneration and social security | 454/9 | €3,221 | €721 | -€2,500 | -77.6% |
| Other amounts payable | 47/48 | €309 | - | -€309 | |
| Remuneration, social security and pensions | 62 | €1,850 | €1,414 | -€437 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,377 | €11,802 | +€1,424 | +13.7% |
| Other operating charges | 640/8 | €4,429 | €3,150 | -€1,279 | -28.9% |
| Gross operating margin | 9900 | €33,390 | €9,789 | -€23,601 | -70.7% |
| Operating profit (loss) | 9901 | €16,733 | -€6,576 | -€23,310 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,518 | €2,277 | -€241 | -9.6% |
| Recurring financial charges | 65 | €2,518 | €2,277 | -€241 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €14,216 | -€8,853 | -€23,069 | |
| Income taxes | 67/77 | €197 | €182 | -€15 | -7.5% |
| Profit (loss) for the period | 9904 | €14,018 | -€9,035 | -€23,054 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,018 | -€9,035 | -€23,054 |
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 5 October 2026 via checked.be.