HDS: 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.
HDS
Largest movements
- Receivables within one year +€5,065
up €5,065 (+2.2%), from €231,763 to €236,828
of which Other amounts receivable: +€5,065
- Other debts +€27,225
up €27,225 (+91.5%), from €29,738 to €56,963
- Trade debts -€21,770
down €21,770 (-88.0%), from €24,728 to €2,958
- Tax, wage and social debts -€3,345
down €3,345 (-67.5%), from €4,958 to €1,613
- Staff costs -€1,914
no longer reported in 2025 (was €1,914)
- Other operating charges +€1,867
new in 2025: €1,867
- Gross operating margin -€1,507
down €1,507 (-26.7%), from €5,648 to €4,142
- Financial income -€223
no longer reported in 2025 (was €223)
- Taxes -€220
down €220 (-26.7%), from €822 to €603
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 | €244,218 | €247,555 | +€3,337 | +1.4% |
| Current assets | 29/58 | €244,218 | €247,555 | +€3,337 | +1.4% |
| Amounts receivable within one year | 40/41 | €231,763 | €236,828 | +€5,065 | +2.2% |
| Trade receivables | 40 | €124 | €124 | = | 0.0% |
| Other amounts receivable | 41 | €231,639 | €236,703 | +€5,065 | +2.2% |
| Cash at bank and in hand | 54/58 | €12,454 | €10,355 | -€2,100 | -16.9% |
| Deferred charges and accrued income | 490/1 | - | €373 | +€373 | |
| Total equity and liabilities | 10/49 | €244,218 | €247,555 | +€3,337 | +1.4% |
| Equity | 10/15 | €184,793 | €186,020 | +€1,227 | +0.7% |
| Contributions | 10/11 | €40,500 | €40,500 | = | 0.0% |
| Reserves | 13 | €2,025 | €2,025 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,025 | - | -€2,025 | |
| Reserves not available under the articles | 1311 | €2,025 | - | -€2,025 | |
| Distributable reserves | 133 | - | €2,025 | +€2,025 | |
| Profit (loss) carried forward | 14 | €142,268 | €143,495 | +€1,227 | +0.9% |
| Amounts payable | 17/49 | €59,424 | €61,534 | +€2,110 | +3.6% |
| Amounts payable within one year | 42/48 | €59,424 | €61,534 | +€2,110 | +3.6% |
| Trade debts | 44 | €24,728 | €2,958 | -€21,770 | -88.0% |
| Suppliers | 440/4 | €24,728 | €2,958 | -€21,770 | -88.0% |
| Taxes, remuneration and social security | 45 | €4,958 | €1,613 | -€3,345 | -67.5% |
| Taxes | 450/3 | €4,958 | €1,613 | -€3,345 | -67.5% |
| Other amounts payable | 47/48 | €29,738 | €56,963 | +€27,225 | +91.5% |
| Remuneration, social security and pensions | 62 | €1,914 | - | -€1,914 | |
| Other operating charges | 640/8 | - | €1,867 | +€1,867 | |
| Gross operating margin | 9900 | €5,648 | €4,142 | -€1,507 | -26.7% |
| Operating profit (loss) | 9901 | €3,734 | €2,275 | -€1,459 | -39.1% |
| Financial income | 75/76B | €223 | - | -€223 | |
| Recurring financial income | 75 | €223 | - | -€223 | |
| Financial charges | 65/66B | €250 | €445 | +€195 | +78.2% |
| Recurring financial charges | 65 | €250 | €445 | +€195 | +78.2% |
| Profit (loss) for the period before taxes | 9903 | €3,707 | €1,830 | -€1,877 | -50.6% |
| Income taxes | 67/77 | €822 | €603 | -€220 | -26.7% |
| Profit (loss) for the period | 9904 | €2,885 | €1,227 | -€1,658 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,885 | €1,227 | -€1,658 | -57.5% |
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 1 October 2026 via checked.be.