HB10: 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.
HB10
Largest movements
- Receivables within one year -€55,707
down €55,707 (-70.5%), from €79,000 to €23,293
of which Trade receivables: -€74,600
- Cash -€17,847
down €17,847 (-33.4%), from €53,503 to €35,655
mainly Other debts (-€51,158) and Contributions, distributions and other (-€39,000)
- Tangible fixed assets +€4,669
up €4,669 (+335.1%), from €1,394 to €6,063
of which Furniture and vehicles: +€4,749
- Other debts -€51,158
down €51,158 (-50.4%), from €101,531 to €50,372
- Tax, wage and social debts -€16,439
down €16,439 (-59.3%), from €27,703 to €11,263
- Reserves -€2,716
no longer reported in 2025 (was €2,716)
- Gross operating margin -€85,634
down €85,634 (-63.6%), from €134,571 to €48,937
- Taxes -€17,444
down €17,444 (-61.1%), from €28,547 to €11,103
- Depreciation -€4,951
down €4,951 (-85.5%), from €5,790 to €839
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 | €136,952 | €67,181 | -€69,772 | -50.9% |
| Fixed assets | 21/28 | €1,394 | €6,063 | +€4,669 | +335.1% |
| Tangible fixed assets | 22/27 | €1,394 | €6,063 | +€4,669 | +335.1% |
| Plant, machinery and equipment | 23 | €80 | - | -€80 | |
| Furniture and vehicles | 24 | €214 | €4,963 | +€4,749 | +2222.1% |
| Other tangible fixed assets | 26 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €135,559 | €61,118 | -€74,441 | -54.9% |
| Amounts receivable within one year | 40/41 | €79,000 | €23,293 | -€55,707 | -70.5% |
| Trade receivables | 40 | €79,000 | €4,400 | -€74,600 | -94.4% |
| Other amounts receivable | 41 | - | €18,893 | +€18,893 | |
| Cash at bank and in hand | 54/58 | €53,503 | €35,655 | -€17,847 | -33.4% |
| Deferred charges and accrued income | 490/1 | €3,056 | €2,170 | -€887 | -29.0% |
| Total equity and liabilities | 10/49 | €136,952 | €67,181 | -€69,772 | -50.9% |
| Equity | 10/15 | €7,716 | €5,033 | -€2,683 | -34.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,716 | - | -€2,716 | |
| Distributable reserves | 133 | €2,716 | - | -€2,716 | |
| Profit (loss) carried forward | 14 | - | €33 | +€33 | |
| Amounts payable | 17/49 | €129,236 | €62,147 | -€67,089 | -51.9% |
| Amounts payable within one year | 42/48 | €129,236 | €62,147 | -€67,089 | -51.9% |
| Trade debts | 44 | €3 | €512 | +€509 | +16790.8% |
| Suppliers | 440/4 | €3 | €512 | +€509 | +16790.8% |
| Taxes, remuneration and social security | 45 | €27,703 | €11,263 | -€16,439 | -59.3% |
| Taxes | 450/3 | €27,703 | €11,263 | -€16,439 | -59.3% |
| Other amounts payable | 47/48 | €101,531 | €50,372 | -€51,158 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,790 | €839 | -€4,951 | -85.5% |
| Other operating charges | 640/8 | €983 | €607 | -€376 | -38.2% |
| Gross operating margin | 9900 | €134,571 | €48,937 | -€85,634 | -63.6% |
| Operating profit (loss) | 9901 | €127,798 | €47,491 | -€80,307 | -62.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €330 | €70 | -€260 | -78.7% |
| Recurring financial charges | 65 | €330 | €70 | -€260 | -78.7% |
| Profit (loss) for the period before taxes | 9903 | €127,468 | €47,420 | -€80,047 | -62.8% |
| Income taxes | 67/77 | €28,547 | €11,103 | -€17,444 | -61.1% |
| Profit (loss) for the period | 9904 | €98,920 | €36,317 | -€62,603 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €98,920 | €36,317 | -€62,603 | -63.3% |
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 1 October 2026 via checked.be.