HDB & C°: 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.
HDB & C°
Largest movements
- Cash +€455,441
up €455,441 (+155.2%), from €293,460 to €748,901
mainly Current investments (+€378,203) and Net result for the year (+€61,293)
- Current investments -€378,203
down €378,203 (-31.7%), from €1.2m to €816,338
- Tangible fixed assets -€37,040
down €37,040 (-30.7%), from €120,474 to €83,434
of which Furniture and vehicles: -€29,876
- Reserves +€61,293
up €61,293 (+4.3%), from €1.4m to €1.5m
of which Distributable reserves: +€61,293
- Gross operating margin -€57,510
down €57,510 (-36.0%), from €159,562 to €102,052
- Staff costs -€25,557
down €25,557 (-97.7%), from €26,169 to €612
- Taxes -€8,048
down €8,048 (-27.3%), from €29,436 to €21,389
- Depreciation -€6,885
down €6,885 (-20.4%), from €33,719 to €26,833
- Financial income +€5,822
up €5,822 (+36.7%), from €15,851 to €21,673
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 | €1,632,785 | €1,676,103 | +€43,318 | +2.7% |
| Fixed assets | 21/28 | €120,474 | €83,434 | -€37,040 | -30.7% |
| Tangible fixed assets | 22/27 | €120,474 | €83,434 | -€37,040 | -30.7% |
| Land and buildings | 22 | €56,155 | €48,991 | -€7,164 | -12.8% |
| Furniture and vehicles | 24 | €64,319 | €34,443 | -€29,876 | -46.5% |
| Current assets | 29/58 | €1,512,311 | €1,592,669 | +€80,358 | +5.3% |
| Amounts receivable within one year | 40/41 | €20,025 | €24,256 | +€4,232 | +21.1% |
| Trade receivables | 40 | €14,641 | €9,075 | -€5,566 | -38.0% |
| Other amounts receivable | 41 | €5,384 | €15,181 | +€9,798 | +182.0% |
| Current investments | 50/53 | €1,194,541 | €816,338 | -€378,203 | -31.7% |
| Cash at bank and in hand | 54/58 | €293,460 | €748,901 | +€455,441 | +155.2% |
| Deferred charges and accrued income | 490/1 | €4,286 | €3,173 | -€1,112 | -26.0% |
| Total equity and liabilities | 10/49 | €1,632,785 | €1,676,103 | +€43,318 | +2.7% |
| Equity | 10/15 | €1,445,051 | €1,506,344 | +€61,293 | +4.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,420,051 | €1,481,344 | +€61,293 | +4.3% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €1,417,551 | €1,478,844 | +€61,293 | +4.3% |
| Amounts payable | 17/49 | €187,734 | €169,759 | -€17,975 | -9.6% |
| Amounts payable within one year | 42/48 | €177,912 | €160,771 | -€17,141 | -9.6% |
| Trade debts | 44 | €869 | €909 | +€41 | +4.7% |
| Suppliers | 440/4 | €869 | €909 | +€41 | +4.7% |
| Taxes, remuneration and social security | 45 | €4,119 | €2,207 | -€1,912 | -46.4% |
| Taxes | 450/3 | €4,119 | €2,207 | -€1,912 | -46.4% |
| Other amounts payable | 47/48 | €172,925 | €157,655 | -€15,270 | -8.8% |
| Accrued charges and deferred income | 492/3 | €9,822 | €8,988 | -€834 | -8.5% |
| Remuneration, social security and pensions | 62 | €26,169 | €612 | -€25,557 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,719 | €26,833 | -€6,885 | -20.4% |
| Other operating charges | 640/8 | €3,109 | €2,792 | -€317 | -10.2% |
| Gross operating margin | 9900 | €159,562 | €102,052 | -€57,510 | -36.0% |
| Operating profit (loss) | 9901 | €96,566 | €71,815 | -€24,751 | -25.6% |
| Financial income | 75/76B | €15,851 | €21,673 | +€5,822 | +36.7% |
| Recurring financial income | 75 | €15,851 | €21,673 | +€5,822 | +36.7% |
| Financial charges | 65/66B | €11,140 | €10,807 | -€333 | -3.0% |
| Recurring financial charges | 65 | €11,140 | €10,807 | -€333 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €101,277 | €82,681 | -€18,596 | -18.4% |
| Income taxes | 67/77 | €29,436 | €21,389 | -€8,048 | -27.3% |
| Profit (loss) for the period | 9904 | €71,841 | €61,293 | -€10,548 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,841 | €61,293 | -€10,548 | -14.7% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.