HB-2: 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.
HB-2
Largest movements
- Receivables within one year +€26,491
up €26,491 (+68.8%), from €38,488 to €64,979
of which Other amounts receivable: +€27,164
- Stocks and contracts -€11,891
down €11,891 (-12.5%), from €95,047 to €83,156
- Tangible fixed assets -€5,588
down €5,588 (-49.4%), from €11,317 to €5,729
of which Other tangible fixed assets: -€3,808
- Deferred charges and accrued income -€2,483
down €2,483 (-66.8%), from €3,720 to €1,237
- Short-term financial debts +€18,000
new in 2025: €18,000
- Other debts -€11,716
down €11,716 (-33.2%), from €35,338 to €23,622
- Reserves -€6,702
down €6,702 (-50.9%), from €13,173 to €6,471
of which Distributable reserves: -€6,702
- Tax, wage and social debts +€4,361
up €4,361 (+24.3%), from €17,913 to €22,273
of which Remuneration and social security: +€4,589
- Accrued charges and deferred income +€3,154
up €3,154 (+560%), from €563 to €3,717
- Gross operating margin +€8,532
up €8,532 (+13.8%), from €61,684 to €70,216
- Financial charges +€2,381
up €2,381 (+70.0%), from €3,403 to €5,784
- Staff costs -€1,608
down €1,608 (-2.2%), from €71,670 to €70,062
- Financial income -€1,117
down €1,117 (-16.6%), from €6,750 to €5,633
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 | €174,646 | €180,168 | +€5,522 | +3.2% |
| Fixed assets | 21/28 | €11,567 | €5,979 | -€5,588 | -48.3% |
| Tangible fixed assets | 22/27 | €11,317 | €5,729 | -€5,588 | -49.4% |
| Plant, machinery and equipment | 23 | €2,717 | €1,798 | -€919 | -33.8% |
| Furniture and vehicles | 24 | €2,898 | €2,038 | -€861 | -29.7% |
| Other tangible fixed assets | 26 | €5,701 | €1,893 | -€3,808 | -66.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €163,080 | €174,189 | +€11,110 | +6.8% |
| Stocks and contracts in progress | 3 | €95,047 | €83,156 | -€11,891 | -12.5% |
| Stocks | 30/36 | €95,047 | €83,156 | -€11,891 | -12.5% |
| Amounts receivable within one year | 40/41 | €38,488 | €64,979 | +€26,491 | +68.8% |
| Trade receivables | 40 | €673 | - | -€673 | |
| Other amounts receivable | 41 | €37,816 | €64,979 | +€27,164 | +71.8% |
| Cash at bank and in hand | 54/58 | €25,824 | €24,818 | -€1,007 | -3.9% |
| Deferred charges and accrued income | 490/1 | €3,720 | €1,237 | -€2,483 | -66.8% |
| Total equity and liabilities | 10/49 | €174,646 | €180,168 | +€5,522 | +3.2% |
| Equity | 10/15 | €19,373 | €12,671 | -€6,702 | -34.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €13,173 | €6,471 | -€6,702 | -50.9% |
| Tax-exempt reserves | 132 | €188 | €188 | = | 0.0% |
| Distributable reserves | 133 | €12,985 | €6,282 | -€6,702 | -51.6% |
| Amounts payable | 17/49 | €155,274 | €167,497 | +€12,224 | +7.9% |
| Amounts payable within one year | 42/48 | €154,711 | €163,781 | +€9,070 | +5.9% |
| Financial debts | 43 | - | €18,000 | +€18,000 | |
| Credit institutions | 430/8 | - | €18,000 | +€18,000 | |
| Trade debts | 44 | €101,460 | €99,885 | -€1,575 | -1.6% |
| Suppliers | 440/4 | €101,460 | €99,885 | -€1,575 | -1.6% |
| Taxes, remuneration and social security | 45 | €17,913 | €22,273 | +€4,361 | +24.3% |
| Taxes | 450/3 | €12,040 | €11,811 | -€228 | -1.9% |
| Remuneration and social security | 454/9 | €5,873 | €10,462 | +€4,589 | +78.1% |
| Other amounts payable | 47/48 | €35,338 | €23,622 | -€11,716 | -33.2% |
| Accrued charges and deferred income | 492/3 | €563 | €3,717 | +€3,154 | +560% |
| Remuneration, social security and pensions | 62 | €71,670 | €70,062 | -€1,608 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,868 | €5,588 | -€280 | -4.8% |
| Other operating charges | 640/8 | €1,592 | €908 | -€684 | -43.0% |
| Non-recurring operating charges | 66A | - | €209 | +€209 | |
| Gross operating margin | 9900 | €61,684 | €70,216 | +€8,532 | +13.8% |
| Operating profit (loss) | 9901 | -€17,445 | -€6,551 | +€10,894 | +62.4% |
| Financial income | 75/76B | €6,750 | €5,633 | -€1,117 | -16.6% |
| Recurring financial income | 75 | €6,750 | €5,633 | -€1,117 | -16.6% |
| Financial charges | 65/66B | €3,403 | €5,784 | +€2,381 | +70.0% |
| Recurring financial charges | 65 | €3,403 | €5,784 | +€2,381 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,098 | -€6,702 | +€7,396 | +52.5% |
| Profit (loss) for the period | 9904 | -€14,098 | -€6,702 | +€7,396 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,098 | -€6,702 | +€7,396 | +52.5% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.