HB CONSTRUCT: 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.
HB CONSTRUCT
Largest movements
- Tangible fixed assets -€38,976
down €38,976 (-4.6%), from €855,493 to €816,517
- Receivables within one year +€13,800
new in 2025: €13,800
- Deferred charges and accrued income -€12,634
down €12,634 (-100.0%), from €12,634 to €0
- Debts after one year -€46,287
down €46,287 (-6.2%), from €745,398 to €699,110
- Accrued charges and deferred income +€12,620
up €12,620 (+104.9%), from €12,030 to €24,650
- Gross operating margin -€2,302
down €2,302 (-3.1%), from €75,225 to €72,922
- Financial charges +€1,377
up €1,377 (+5.2%), from €26,351 to €27,727
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 | €868,245 | €830,317 | -€37,928 | -4.4% |
| Fixed assets | 21/28 | €855,493 | €816,517 | -€38,976 | -4.6% |
| Tangible fixed assets | 22/27 | €855,493 | €816,517 | -€38,976 | -4.6% |
| Land and buildings | 22 | €855,493 | €816,517 | -€38,976 | -4.6% |
| Current assets | 29/58 | €12,752 | €13,800 | +€1,048 | +8.2% |
| Amounts receivable within one year | 40/41 | - | €13,800 | +€13,800 | |
| Trade receivables | 40 | - | €13,800 | +€13,800 | |
| Cash at bank and in hand | 54/58 | €118 | €0 | -€118 | -100.0% |
| Deferred charges and accrued income | 490/1 | €12,634 | €0 | -€12,634 | -100.0% |
| Total equity and liabilities | 10/49 | €868,245 | €830,317 | -€37,928 | -4.4% |
| Equity | 10/15 | €57,626 | €56,824 | -€802 | -1.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,374 | -€43,176 | -€802 | -1.9% |
| Amounts payable | 17/49 | €810,619 | €773,493 | -€37,126 | -4.6% |
| Amounts payable after more than one year | 17 | €745,398 | €699,110 | -€46,287 | -6.2% |
| Financial debts | 170/4 | €745,398 | €699,110 | -€46,287 | -6.2% |
| Amounts payable within one year | 42/48 | €53,191 | €49,733 | -€3,459 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €45,331 | €48,391 | +€3,060 | +6.8% |
| Trade debts | 44 | €5,860 | €1,342 | -€4,519 | -77.1% |
| Suppliers | 440/4 | €5,860 | €1,342 | -€4,519 | -77.1% |
| Other amounts payable | 47/48 | €2,000 | €0 | -€2,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €12,030 | €24,650 | +€12,620 | +104.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,976 | €38,976 | = | 0.0% |
| Other operating charges | 640/8 | €6,308 | €7,021 | +€713 | +11.3% |
| Gross operating margin | 9900 | €75,225 | €72,922 | -€2,302 | -3.1% |
| Operating profit (loss) | 9901 | €29,941 | €26,925 | -€3,016 | -10.1% |
| Financial charges | 65/66B | €26,351 | €27,727 | +€1,377 | +5.2% |
| Recurring financial charges | 65 | €26,351 | €27,727 | +€1,377 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €3,590 | -€802 | -€4,393 | |
| Profit (loss) for the period | 9904 | €3,590 | -€802 | -€4,393 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,590 | -€802 | -€4,393 |
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.