HANDELSGIDS: what changed
What changed
HANDELSGIDS
NACE 63.910, Web portal activities
filed annual accounts (NBB)
Net result for the year
€117,316
2025 · €66,675+€50,640
Equity
€1.4m
2025 · €1.5m-€82,684
Cash
€435,307
2025 · €421,180+€14,128
Balance sheet total
€1.5m
2025 · €1.6m-€66,479
Largest movements
Assets
- Receivables within one year -€52,896
down €52,896 (-39.9%), from €132,498 to €79,602
of which Trade receivables: -€42,254
- Tangible fixed assets -€31,087
down €31,087 (-24.7%), from €125,705 to €94,618
of which Furniture and vehicles: -€23,442
Equity and liabilities
- Reserves -€82,684
down €82,684 (-5.7%), from €1.4m to €1.4m
of which Distributable reserves: -€82,684
- Tax, wage and social debts +€24,496
up €24,496 (+64.3%), from €38,104 to €62,600
of which Taxes: +€22,960
Income statement
- Gross operating margin +€54,062
up €54,062 (+13.4%), from €402,168 to €456,231
- Depreciation -€25,299
down €25,299 (-37.5%), from €67,514 to €42,214
- Taxes +€25,293
up €25,293 (+69.3%), from €36,491 to €61,783
- Write-downs -€23,251
down €23,251 (-63.8%), from €36,416 to €13,165
- Financial income -€17,691
down €17,691 (-52.2%), from €33,858 to €16,168
Change in the result, 2025 to 2026
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 2025
€66,675
Gross operating margin
+€54,062
Staff costs
-€13,368
Depreciation
+€25,299
Write-downs
+€23,251
Other operating charges
+€4,017
Other operating items
+€179
Financial income
-€17,691
Financial charges
+€184
Taxes
-€25,293
Result 2026
€117,316
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€225,255
Investment
-€11,128
Financing
-€200,000
Cash 2025
€421,180
From operations (derived)
+€225,255
Net result for the year
+€117,316
Depreciation
+€42,214
Receivables within one year
+€52,896
Deferred charges and accrued income
-€3,377
Trade debts
-€5,504
Tax, wage and social debts
+€24,496
Other debts
-€2,786
Investment (derived)
-€11,128
Investment in fixed assets (net)
-€11,128
Financing
-€200,000
Contributions, distributions and other
-€200,000
Cash 2026
€435,307
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,571,507 | €1,505,028 | -€66,479 | -4.2% |
| Fixed assets | 21/28 | €125,705 | €94,618 | -€31,087 | -24.7% |
| Tangible fixed assets | 22/27 | €125,705 | €94,618 | -€31,087 | -24.7% |
| Plant, machinery and equipment | 23 | €26,810 | €19,165 | -€7,645 | -28.5% |
| Furniture and vehicles | 24 | €98,896 | €75,454 | -€23,442 | -23.7% |
| Current assets | 29/58 | €1,445,802 | €1,410,410 | -€35,392 | -2.4% |
| Amounts receivable within one year | 40/41 | €132,498 | €79,602 | -€52,896 | -39.9% |
| Trade receivables | 40 | €119,104 | €76,850 | -€42,254 | -35.5% |
| Other amounts receivable | 41 | €13,394 | €2,752 | -€10,642 | -79.5% |
| Current investments | 50/53 | €881,215 | €881,215 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €421,180 | €435,307 | +€14,128 | +3.4% |
| Deferred charges and accrued income | 490/1 | €10,908 | €14,285 | +€3,377 | +31.0% |
| Total equity and liabilities | 10/49 | €1,571,507 | €1,505,028 | -€66,479 | -4.2% |
| Equity | 10/15 | €1,509,412 | €1,426,728 | -€82,684 | -5.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,447,412 | €1,364,728 | -€82,684 | -5.7% |
| Non-distributable reserves | 130/1 | €6,815 | €6,815 | = | 0.0% |
| Legal reserve | 130 | €6,815 | €6,815 | = | 0.0% |
| Distributable reserves | 133 | €1,440,597 | €1,357,913 | -€82,684 | -5.7% |
| Amounts payable | 17/49 | €62,094 | €78,300 | +€16,206 | +26.1% |
| Amounts payable within one year | 42/48 | €62,094 | €78,300 | +€16,206 | +26.1% |
| Trade debts | 44 | €13,486 | €7,982 | -€5,504 | -40.8% |
| Suppliers | 440/4 | €13,486 | €7,982 | -€5,504 | -40.8% |
| Taxes, remuneration and social security | 45 | €38,104 | €62,600 | +€24,496 | +64.3% |
| Taxes | 450/3 | €8,166 | €31,125 | +€22,960 | +281% |
| Remuneration and social security | 454/9 | €29,939 | €31,475 | +€1,536 | +5.1% |
| Other amounts payable | 47/48 | €10,504 | €7,718 | -€2,786 | -26.5% |
| Remuneration, social security and pensions | 62 | €197,412 | €210,779 | +€13,368 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,514 | €42,214 | -€25,299 | -37.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,416 | €13,165 | -€23,251 | -63.8% |
| Other operating charges | 640/8 | €29,368 | €25,351 | -€4,017 | -13.7% |
| Non-recurring operating charges | 66A | €179 | - | -€179 | |
| Gross operating margin | 9900 | €402,168 | €456,231 | +€54,062 | +13.4% |
| Operating profit (loss) | 9901 | €71,281 | €164,721 | +€93,440 | +131% |
| Financial income | 75/76B | €33,858 | €16,168 | -€17,691 | -52.2% |
| Recurring financial income | 75 | €33,858 | €16,168 | -€17,691 | -52.2% |
| Financial charges | 65/66B | €1,973 | €1,789 | -€184 | -9.3% |
| Recurring financial charges | 65 | €1,973 | €1,789 | -€184 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €103,166 | €179,099 | +€75,933 | +73.6% |
| Income taxes | 67/77 | €36,491 | €61,783 | +€25,293 | +69.3% |
| Profit (loss) for the period | 9904 | €66,675 | €117,316 | +€50,640 | +76.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,675 | €117,316 | +€50,640 | +76.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.