HBLF: 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.
HBLF
Largest movements
- Stocks and contracts +€13,142
up €13,142 (+86.0%), from €15,288 to €28,430
- Tangible fixed assets +€5,129
up €5,129 (+78.6%), from €6,522 to €11,651
of which Plant, machinery and equipment: +€5,751
- Cash -€4,568
down €4,568 (-35.4%), from €12,901 to €8,333
mainly Contributions, distributions and other (-€30,358) and Stocks and contracts (-€13,142)
- Receivables within one year -€4,051
down €4,051 (-5.9%), from €69,140 to €65,089
of which Other amounts receivable: -€4,792
- Deferred charges and accrued income -€1,834
down €1,834 (-35.9%), from €5,103 to €3,269
- Other debts +€23,792
up €23,792 (+77.7%), from €30,631 to €54,423
- Profit (loss) carried forward -€14,043
down €14,043 (-30.3%), from €46,349 to €32,306
- Trade debts -€4,403
down €4,403 (-99.1%), from €4,441 to €38
- Tax, wage and social debts +€3,559
up €3,559 (+84.3%), from €4,219 to €7,778
- Current portion of long-term debt -€1,353
down €1,353 (-100.0%), from €1,353 to €0
- Gross operating margin +€20,691
up €20,691 (+169.4%), from €12,215 to €32,906
- Taxes +€3,914
up €3,914 (+390.9%), from €1,001 to €4,915
- Financial charges +€2,897
up €2,897 (+76.0%), from €3,810 to €6,707
- Depreciation -€1,265
down €1,265 (-21.3%), from €5,944 to €4,679
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 | €109,152 | €116,854 | +€7,702 | +7.1% |
| Fixed assets | 21/28 | €6,720 | €11,733 | +€5,012 | +74.6% |
| Intangible fixed assets | 21 | €198 | €82 | -€116 | -58.7% |
| Tangible fixed assets | 22/27 | €6,522 | €11,651 | +€5,129 | +78.6% |
| Plant, machinery and equipment | 23 | €5,899 | €11,651 | +€5,751 | +97.5% |
| Furniture and vehicles | 24 | €622 | €0 | -€622 | -100.0% |
| Current assets | 29/58 | €102,432 | €105,122 | +€2,690 | +2.6% |
| Stocks and contracts in progress | 3 | €15,288 | €28,430 | +€13,142 | +86.0% |
| Stocks | 30/36 | €15,288 | €28,430 | +€13,142 | +86.0% |
| Amounts receivable within one year | 40/41 | €69,140 | €65,089 | -€4,051 | -5.9% |
| Trade receivables | 40 | €61,348 | €62,089 | +€741 | +1.2% |
| Other amounts receivable | 41 | €7,793 | €3,000 | -€4,792 | -61.5% |
| Cash at bank and in hand | 54/58 | €12,901 | €8,333 | -€4,568 | -35.4% |
| Deferred charges and accrued income | 490/1 | €5,103 | €3,269 | -€1,834 | -35.9% |
| Total equity and liabilities | 10/49 | €109,152 | €116,854 | +€7,702 | +7.1% |
| Equity | 10/15 | €66,809 | €52,766 | -€14,043 | -21.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,349 | €32,306 | -€14,043 | -30.3% |
| Amounts payable | 17/49 | €42,343 | €64,088 | +€21,745 | +51.4% |
| Amounts payable within one year | 42/48 | €40,645 | €62,239 | +€21,595 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €1,353 | €0 | -€1,353 | -100.0% |
| Trade debts | 44 | €4,441 | €38 | -€4,403 | -99.1% |
| Suppliers | 440/4 | €4,441 | €38 | -€4,403 | -99.1% |
| Taxes, remuneration and social security | 45 | €4,219 | €7,778 | +€3,559 | +84.3% |
| Taxes | 450/3 | €4,219 | €7,778 | +€3,559 | +84.3% |
| Other amounts payable | 47/48 | €30,631 | €54,423 | +€23,792 | +77.7% |
| Accrued charges and deferred income | 492/3 | €1,698 | €1,849 | +€151 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,944 | €4,679 | -€1,265 | -21.3% |
| Other operating charges | 640/8 | €822 | €843 | +€22 | +2.6% |
| Gross operating margin | 9900 | €12,215 | €32,906 | +€20,691 | +169.4% |
| Operating profit (loss) | 9901 | €5,449 | €27,383 | +€21,934 | +402.5% |
| Financial income | 75/76B | €377 | €554 | +€178 | +47.2% |
| Recurring financial income | 75 | €377 | €554 | +€178 | +47.2% |
| Financial charges | 65/66B | €3,810 | €6,707 | +€2,897 | +76.0% |
| Recurring financial charges | 65 | €3,810 | €6,707 | +€2,897 | +76.0% |
| Profit (loss) for the period before taxes | 9903 | €2,015 | €21,230 | +€19,215 | +953.5% |
| Income taxes | 67/77 | €1,001 | €4,915 | +€3,914 | +390.9% |
| Profit (loss) for the period | 9904 | €1,014 | €16,315 | +€15,301 | +1509.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,014 | €16,315 | +€15,301 | +1509.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.