HDS CHAUFFAGE: 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.
HDS CHAUFFAGE
Largest movements
- Receivables within one year +€15,526
up €15,526 (+34.6%), from €44,887 to €60,413
of which Other amounts receivable: +€29,222
- Tangible fixed assets -€11,608
down €11,608 (-4.2%), from €273,515 to €261,906
of which Land and buildings: -€9,450
- Stocks and contracts +€9,594
up €9,594 (+22.9%), from €41,903 to €51,497
- Trade debts +€38,206
up €38,206 (+151%), from €25,306 to €63,512
- Reserves -€19,000
down €19,000 (-28.8%), from €65,860 to €46,860
of which Distributable reserves: -€17,140
- Debts after one year -€16,064
down €16,064 (-7.5%), from €215,313 to €199,250
of which Financial debts: -€16,064
- Tax, wage and social debts +€6,989
up €6,989 (+106%), from €6,599 to €13,588
of which Taxes: +€6,722
- Gross operating margin -€18,862
down €18,862 (-65.2%), from €28,918 to €10,056
- Financial charges +€2,319
up €2,319 (+15.2%), from €15,221 to €17,540
- Taxes -€1,123
down €1,123 (-79.7%), from €1,410 to €287
- Other operating charges -€549
down €549 (-73.2%), from €751 to €201
- Depreciation +€322
up €322 (+2.9%), from €11,286 to €11,608
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 | €363,039 | €373,993 | +€10,954 | +3.0% |
| Fixed assets | 21/28 | €273,515 | €261,906 | -€11,608 | -4.2% |
| Tangible fixed assets | 22/27 | €273,515 | €261,906 | -€11,608 | -4.2% |
| Land and buildings | 22 | €265,800 | €256,350 | -€9,450 | -3.6% |
| Plant, machinery and equipment | 23 | €465 | €261 | -€204 | -43.9% |
| Furniture and vehicles | 24 | €7,249 | €5,296 | -€1,954 | -27.0% |
| Current assets | 29/58 | €89,525 | €112,086 | +€22,562 | +25.2% |
| Stocks and contracts in progress | 3 | €41,903 | €51,497 | +€9,594 | +22.9% |
| Stocks | 30/36 | €41,903 | €51,497 | +€9,594 | +22.9% |
| Amounts receivable within one year | 40/41 | €44,887 | €60,413 | +€15,526 | +34.6% |
| Trade receivables | 40 | €35,477 | €21,782 | -€13,695 | -38.6% |
| Other amounts receivable | 41 | €9,410 | €38,632 | +€29,222 | +311% |
| Cash at bank and in hand | 54/58 | €724 | - | -€724 | |
| Deferred charges and accrued income | 490/1 | €2,010 | €176 | -€1,834 | -91.2% |
| Total equity and liabilities | 10/49 | €363,039 | €373,993 | +€10,954 | +3.0% |
| Equity | 10/15 | €85,178 | €65,597 | -€19,580 | -23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €65,860 | €46,860 | -€19,000 | -28.8% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €64,000 | €46,860 | -€17,140 | -26.8% |
| Profit (loss) carried forward | 14 | €718 | €137 | -€580 | -80.9% |
| Amounts payable | 17/49 | €277,862 | €308,395 | +€30,534 | +11.0% |
| Amounts payable after more than one year | 17 | €215,313 | €199,250 | -€16,064 | -7.5% |
| Financial debts | 170/4 | €214,213 | €198,150 | -€16,064 | -7.5% |
| Other amounts payable | 178/9 | €1,100 | €1,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €62,176 | €109,146 | +€46,970 | +75.5% |
| Current portion of amounts payable after more than one year | 42 | €30,271 | €32,045 | +€1,774 | +5.9% |
| Trade debts | 44 | €25,306 | €63,512 | +€38,206 | +151% |
| Suppliers | 440/4 | €25,306 | €63,512 | +€38,206 | +151% |
| Taxes, remuneration and social security | 45 | €6,599 | €13,588 | +€6,989 | +106% |
| Taxes | 450/3 | €6,599 | €13,321 | +€6,722 | +102% |
| Remuneration and social security | 454/9 | - | €268 | +€268 | |
| Accrued charges and deferred income | 492/3 | €372 | - | -€372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,286 | €11,608 | +€322 | +2.9% |
| Other operating charges | 640/8 | €751 | €201 | -€549 | -73.2% |
| Gross operating margin | 9900 | €28,918 | €10,056 | -€18,862 | -65.2% |
| Operating profit (loss) | 9901 | €16,881 | -€1,754 | -€18,635 | |
| Financial income | 75/76B | €23 | - | -€23 | |
| Recurring financial income | 75 | €23 | - | -€23 | |
| Financial charges | 65/66B | €15,221 | €17,540 | +€2,319 | +15.2% |
| Recurring financial charges | 65 | €15,221 | €17,540 | +€2,319 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €1,683 | -€19,294 | -€20,977 | |
| Income taxes | 67/77 | €1,410 | €287 | -€1,123 | -79.7% |
| Profit (loss) for the period | 9904 | €273 | -€19,580 | -€19,854 | |
| Profit (loss) for the period to be appropriated | 9905 | €273 | -€19,580 | -€19,854 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.