HdB Services: 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 Services
Largest movements
- Cash -€54,923
down €54,923 (-51.5%), from €106,568 to €51,645
mainly Other debts (-€70,832) and Investment in fixed assets (net) (-€50,318)
- Tangible fixed assets +€30,153
up €30,153 (+182%), from €16,561 to €46,714
of which Furniture and vehicles: +€32,042
- Stocks and contracts +€9,000
new in 2025: €9,000
- Receivables within one year +€5,566
up €5,566 (+26.7%), from €20,811 to €26,377
of which Other amounts receivable: +€3,449
- Other debts -€70,832
down €70,832 (-97.8%), from €72,432 to €1,600
- Reserves +€37,242
up €37,242 (+27.3%), from €136,485 to €173,726
- Debts after one year +€14,012
new in 2025: €14,012
- Current portion of long-term debt +€11,599
up €11,599, from €0 to €11,599
- Gross operating margin +€17,358
up €17,358 (+31.8%), from €54,643 to €72,001
- Financial income +€5,081
up €5,081 (+303%), from €1,679 to €6,760
- Taxes +€3,757
up €3,757 (+28.5%), from €13,181 to €16,938
- Depreciation +€2,689
up €2,689 (+15.4%), from €17,476 to €20,164
- Financial charges +€908
up €908 (+88.7%), from €1,023 to €1,931
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 | €237,230 | €227,372 | -€9,858 | -4.2% |
| Fixed assets | 21/28 | €16,561 | €46,714 | +€30,153 | +182% |
| Tangible fixed assets | 22/27 | €16,561 | €46,714 | +€30,153 | +182% |
| Plant, machinery and equipment | 23 | €426 | €109 | -€317 | -74.4% |
| Furniture and vehicles | 24 | €11,200 | €43,242 | +€32,042 | +286% |
| Other tangible fixed assets | 26 | €4,935 | €3,363 | -€1,572 | -31.9% |
| Current assets | 29/58 | €220,669 | €180,658 | -€40,011 | -18.1% |
| Stocks and contracts in progress | 3 | - | €9,000 | +€9,000 | |
| Contracts in progress | 37 | - | €9,000 | +€9,000 | |
| Amounts receivable within one year | 40/41 | €20,811 | €26,377 | +€5,566 | +26.7% |
| Trade receivables | 40 | €13,976 | €16,093 | +€2,118 | +15.2% |
| Other amounts receivable | 41 | €6,836 | €10,284 | +€3,449 | +50.5% |
| Current investments | 50/53 | €91,286 | €91,286 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €106,568 | €51,645 | -€54,923 | -51.5% |
| Deferred charges and accrued income | 490/1 | €2,003 | €2,349 | +€345 | +17.2% |
| Total equity and liabilities | 10/49 | €237,230 | €227,372 | -€9,858 | -4.2% |
| Equity | 10/15 | €148,885 | €186,126 | +€37,242 | +25.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €136,485 | €173,726 | +€37,242 | +27.3% |
| Distributable reserves | 133 | €136,485 | €173,726 | +€37,242 | +27.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €88,345 | €41,245 | -€47,100 | -53.3% |
| Amounts payable after more than one year | 17 | - | €14,012 | +€14,012 | |
| Financial debts | 170/4 | - | €14,012 | +€14,012 | |
| Amounts payable within one year | 42/48 | €88,345 | €27,233 | -€61,111 | -69.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €11,599 | +€11,599 | |
| Trade debts | 44 | €3,710 | €3,219 | -€491 | -13.2% |
| Suppliers | 440/4 | €3,710 | €3,219 | -€491 | -13.2% |
| Taxes, remuneration and social security | 45 | €12,203 | €10,815 | -€1,388 | -11.4% |
| Taxes | 450/3 | €12,203 | €10,815 | -€1,388 | -11.4% |
| Other amounts payable | 47/48 | €72,432 | €1,600 | -€70,832 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,476 | €20,164 | +€2,689 | +15.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €886 | +€498 | +129% |
| Gross operating margin | 9900 | €54,643 | €72,001 | +€17,358 | +31.8% |
| Operating profit (loss) | 9901 | €36,779 | €50,951 | +€14,171 | +38.5% |
| Financial income | 75/76B | €1,679 | €6,760 | +€5,081 | +303% |
| Recurring financial income | 75 | €1,679 | €6,760 | +€5,081 | +303% |
| Financial charges | 65/66B | €1,023 | €1,931 | +€908 | +88.7% |
| Recurring financial charges | 65 | €1,023 | €1,931 | +€908 | +88.7% |
| Profit (loss) for the period before taxes | 9903 | €37,435 | €55,780 | +€18,345 | +49.0% |
| Income taxes | 67/77 | €13,181 | €16,938 | +€3,757 | +28.5% |
| Profit (loss) for the period | 9904 | €24,254 | €38,842 | +€14,588 | +60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,254 | €38,842 | +€14,588 | +60.1% |
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 18 October 2026 via checked.be.