HBB: 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.
What changed
HBB
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€25,997
2024 · €266,654-€240,657
Equity
€21.6m
2024 · €20.1m+€1.5m
Cash
€224,593
2024 · €915,222-€690,629
Balance sheet total
€22.0m
2024 · €21.0m+€1.0m
Largest movements
Assets
- Financial fixed assets +€1.5m
up €1.5m (+8.1%), from €19.0m to €20.6m
- Cash -€690,629
down €690,629 (-75.5%), from €915,222 to €224,593
mainly Investment in fixed assets (net) (-€1.5m) and Receivables within one year (-€236,043)
- Receivables within one year +€236,043
up €236,043 (+31.1%), from €757,780 to €993,823
of which Trade receivables: +€236,043
Equity and liabilities
- Revaluation surpluses +€1.5m
up €1.5m (+10.3%), from €14.6m to €16.1m
Income statement
- Turnover -€668,800
down €668,800 (-66.3%), from €1.0m to €340,000
- Other operating charges -€463,693
down €463,693 (-100.0%), from €463,705 to €12
- Other operating income -€422,935
down €422,935 (-77.6%), from €544,772 to €121,837
- Taxes -€245,556
down €245,556 (-94.1%), from €261,073 to €15,517
of which Taxes: -€243,810
- Staff costs -€155,135
down €155,135, from €149,269 to -€5,866
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.
Result 2024
€266,654
Turnover
-€668,800
Other operating income
-€422,935
Services and other goods
-€15,493
Staff costs
+€155,135
Depreciation
+€2,244
Other operating charges
+€463,693
Financial income
-€3,704
Financial charges
+€3,646
Taxes
+€245,556
Result 2025
€25,997
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.
From operations
-€424,588
Investment
-€1.5m
Financing
+€1.3m
Cash 2024
€915,222
From operations (derived)
-€424,588
Net result for the year
+€25,997
Depreciation
+€48,793
Receivables after one year
+€10,000
Receivables within one year
-€236,043
Deferred charges and accrued income
+€100
Trade debts
+€5,457
Tax, wage and social debts
-€135,891
Other debts
-€143,000
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
+€1.3m
Debts after one year
-€167,291
Current portion of long-term debt
-€61,697
Contributions, distributions and other
+€1.5m
Cash 2025
€224,593
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,991,802 | €22,013,130 | +€1.0m | +4.9% |
| Fixed assets | 21/28 | €19,298,500 | €20,784,514 | +€1.5m | +7.7% |
| Tangible fixed assets | 22/27 | €263,834 | €212,095 | -€51,739 | -19.6% |
| Land and buildings | 22 | €210,988 | €195,822 | -€15,166 | -7.2% |
| Furniture and vehicles | 24 | €52,846 | €16,272 | -€36,574 | -69.2% |
| Financial fixed assets | 28 | €19,034,666 | €20,572,419 | +€1.5m | +8.1% |
| Affiliated companies | 280/1 | €19,034,666 | €20,572,419 | +€1.5m | +8.1% |
| Participating interests | 280 | €19,034,666 | €20,572,419 | +€1.5m | +8.1% |
| Current assets | 29/58 | €1,693,302 | €1,228,616 | -€464,686 | -27.4% |
| Amounts receivable after more than one year | 29 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Other amounts receivable | 291 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €757,780 | €993,823 | +€236,043 | +31.1% |
| Trade receivables | 40 | €747,780 | €983,823 | +€236,043 | +31.6% |
| Other amounts receivable | 41 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €915,222 | €224,593 | -€690,629 | -75.5% |
| Deferred charges and accrued income | 490/1 | €300 | €200 | -€100 | -33.3% |
| Total equity and liabilities | 10/49 | €20,991,802 | €22,013,130 | +€1.0m | +4.9% |
| Equity | 10/15 | €20,078,500 | €21,602,251 | +€1.5m | +7.6% |
| Contributions | 10/11 | €836,000 | €836,000 | = | 0.0% |
| Revaluation surpluses | 12 | €14,606,165 | €16,103,919 | +€1.5m | +10.3% |
| Reserves | 13 | €4,636,335 | €4,662,332 | +€25,997 | +0.6% |
| Tax-exempt reserves | 132 | €463,100 | €336,800 | -€126,300 | -27.3% |
| Distributable reserves | 133 | €4,173,235 | €4,325,532 | +€152,297 | +3.6% |
| Amounts payable | 17/49 | €913,301 | €410,879 | -€502,422 | -55.0% |
| Amounts payable after more than one year | 17 | €332,367 | €165,076 | -€167,291 | -50.3% |
| Financial debts | 170/4 | €332,367 | €165,076 | -€167,291 | -50.3% |
| Leasing and similar obligations | 172 | €332,367 | €165,076 | -€167,291 | -50.3% |
| Amounts payable within one year | 42/48 | €580,934 | €245,803 | -€335,131 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €227,738 | €166,041 | -€61,697 | -27.1% |
| Trade debts | 44 | €1,464 | €6,920 | +€5,457 | +372.8% |
| Suppliers | 440/4 | €1,464 | €6,920 | +€5,457 | +372.8% |
| Taxes, remuneration and social security | 45 | €171,732 | €35,842 | -€135,891 | -79.1% |
| Taxes | 450/3 | €136,844 | €34,289 | -€102,555 | -74.9% |
| Remuneration and social security | 454/9 | €34,889 | €1,553 | -€33,336 | -95.6% |
| Other amounts payable | 47/48 | €180,000 | €37,000 | -€143,000 | -79.4% |
| Operating income | 70/76A | €1,553,572 | €461,837 | -€1.1m | -70.3% |
| Turnover | 70 | €1,008,800 | €340,000 | -€668,800 | -66.3% |
| Other operating income | 74 | €544,772 | €121,837 | -€422,935 | -77.6% |
| Operating charges | 60/66A | €1,034,679 | €429,100 | -€605,579 | -58.5% |
| Services and other goods | 61 | €370,668 | €386,161 | +€15,493 | +4.2% |
| Remuneration, social security and pensions | 62 | €149,269 | -€5,866 | -€155,135 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,036 | €48,793 | -€2,244 | -4.4% |
| Other operating charges | 640/8 | €463,705 | €12 | -€463,693 | -100.0% |
| Operating profit (loss) | 9901 | €518,892 | €32,736 | -€486,156 | -93.7% |
| Financial income | 75/76B | €20,635 | €16,931 | -€3,704 | -17.9% |
| Recurring financial income | 75 | €20,635 | €16,931 | -€3,704 | -17.9% |
| Income from financial fixed assets | 750 | €12,990 | €11,131 | -€1,859 | -14.3% |
| Other financial income | 752/9 | €7,645 | €5,800 | -€1,845 | -24.1% |
| Financial charges | 65/66B | €11,800 | €8,154 | -€3,646 | -30.9% |
| Recurring financial charges | 65 | €11,800 | €8,154 | -€3,646 | -30.9% |
| Debt charges | 650 | €11,217 | €7,204 | -€4,012 | -35.8% |
| Other financial charges | 652/9 | €583 | €949 | +€366 | +62.7% |
| Profit (loss) for the period before taxes | 9903 | €527,727 | €41,514 | -€486,213 | -92.1% |
| Income taxes | 67/77 | €261,073 | €15,517 | -€245,556 | -94.1% |
| Taxes | 670/3 | €261,073 | €17,264 | -€243,810 | -93.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €1,747 | +€1,747 | |
| Profit (loss) for the period | 9904 | €266,654 | €25,997 | -€240,657 | -90.3% |
| Transfer from tax-exempt reserves | 789 | €0 | €126,300 | +€126,300 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €182,454 | €152,297 | -€30,157 | -16.5% |
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 4 October 2026 via checked.be.