HDB & E: 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 & E
Largest movements
- Receivables within one year +€101,102
up €101,102 (+147%), from €68,886 to €169,988
- Cash -€18,365
down €18,365 (-99.7%), from €18,412 to €47
mainly Receivables within one year (-€101,102) and Tax, wage and social debts (-€21,007)
- Debts after one year +€97,958
up €97,958 (+53.4%), from €183,270 to €281,228
- Tax, wage and social debts -€21,007
down €21,007 (-79.9%), from €26,308 to €5,300
- Profit (loss) carried forward +€9,546
up €9,546 (+8.2%), from -€116,787 to -€107,240
- Accrued charges and deferred income -€2,808
no longer reported in 2025 (was €2,808)
- Gross operating margin -€47,164
down €47,164 (-81.2%), from €58,059 to €10,896
- Taxes -€12,142
down €12,142 (-86.8%), from €13,980 to €1,838
- Financial charges -€1,758
down €1,758 (-62.1%), from €2,832 to €1,074
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.
Derived cash bridge
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 | €146,372 | €229,103 | +€82,731 | +56.5% |
| Fixed assets | 21/28 | €41,132 | €41,142 | +€10 | 0.0% |
| Financial fixed assets | 28 | €41,132 | €41,142 | +€10 | 0.0% |
| Current assets | 29/58 | €105,239 | €187,961 | +€82,721 | +78.6% |
| Amounts receivable after more than one year | 29 | €17,941 | €17,925 | -€16 | -0.1% |
| Other amounts receivable | 291 | €17,941 | €17,925 | -€16 | -0.1% |
| Amounts receivable within one year | 40/41 | €68,886 | €169,988 | +€101,102 | +147% |
| Other amounts receivable | 41 | €68,886 | €169,988 | +€101,102 | +147% |
| Cash at bank and in hand | 54/58 | €18,412 | €47 | -€18,365 | -99.7% |
| Total equity and liabilities | 10/49 | €146,372 | €229,103 | +€82,731 | +56.5% |
| Equity | 10/15 | -€67,140 | -€57,594 | +€9,546 | +14.2% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €68 | €68 | = | 0.0% |
| Non-distributable reserves | 130/1 | €68 | €68 | = | 0.0% |
| Reserves not available under the articles | 1311 | €68 | €68 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,787 | -€107,240 | +€9,546 | +8.2% |
| Amounts payable | 17/49 | €213,512 | €286,697 | +€73,185 | +34.3% |
| Amounts payable after more than one year | 17 | €183,270 | €281,228 | +€97,958 | +53.4% |
| Financial debts | 170/4 | €183,270 | €281,228 | +€97,958 | +53.4% |
| Amounts payable within one year | 42/48 | €27,433 | €5,468 | -€21,965 | -80.1% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €164 | €164 | = | 0.0% |
| Suppliers | 440/4 | €164 | €164 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,308 | €5,300 | -€21,007 | -79.9% |
| Taxes | 450/3 | €26,308 | €5,300 | -€21,007 | -79.9% |
| Other amounts payable | 47/48 | €962 | - | -€962 | |
| Accrued charges and deferred income | 492/3 | €2,808 | - | -€2,808 | |
| Other operating charges | 640/8 | €499 | €523 | +€24 | +4.7% |
| Gross operating margin | 9900 | €58,059 | €10,896 | -€47,164 | -81.2% |
| Operating profit (loss) | 9901 | €57,560 | €10,373 | -€47,187 | -82.0% |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €2,832 | €1,074 | -€1,758 | -62.1% |
| Recurring financial charges | 65 | €2,832 | €1,074 | -€1,758 | -62.1% |
| Profit (loss) for the period before taxes | 9903 | €54,728 | €9,326 | -€45,402 | -83.0% |
| Income taxes | 67/77 | €13,980 | €1,838 | -€12,142 | -86.8% |
| Profit (loss) for the period | 9904 | €40,748 | €7,488 | -€33,260 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,748 | €7,488 | -€33,260 | -81.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.