HET STRAND: 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.
HET STRAND
Largest movements
- Receivables within one year +€60,893
up €60,893 (+2836.3%), from €2,147 to €63,040
of which Trade receivables: +€60,856
- Cash -€13,518
down €13,518 (-18.1%), from €74,819 to €61,301
mainly Receivables within one year (-€60,893) and Debts after one year (-€15,829)
- Tangible fixed assets -€5,936
down €5,936 (-17.3%), from €34,222 to €28,287
of which Plant, machinery and equipment: -€5,724
- Stocks and contracts +€2,013
up €2,013 (+25.2%), from €7,993 to €10,006
- Trade debts +€60,144
up €60,144 (+699.0%), from €8,604 to €68,748
- Debts after one year -€15,829
down €15,829 (-62.3%), from €25,424 to €9,595
- Tax, wage and social debts +€11,024
up €11,024 (+34.6%), from €31,851 to €42,875
of which Taxes: +€11,821
- Profit (loss) carried forward -€10,984
down €10,984 (-58.6%), from -€18,728 to -€29,712
- Gross operating margin -€10,916
down €10,916 (-3.0%), from €362,705 to €351,789
- Staff costs +€4,927
up €4,927 (+1.4%), from €347,120 to €352,047
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 | €155,621 | €199,103 | +€43,483 | +27.9% |
| Fixed assets | 21/28 | €40,222 | €34,287 | -€5,936 | -14.8% |
| Tangible fixed assets | 22/27 | €34,222 | €28,287 | -€5,936 | -17.3% |
| Land and buildings | 22 | €13,865 | €14,511 | +€647 | +4.7% |
| Plant, machinery and equipment | 23 | €18,916 | €13,192 | -€5,724 | -30.3% |
| Furniture and vehicles | 24 | €1,441 | €583 | -€858 | -59.5% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €115,398 | €164,816 | +€49,418 | +42.8% |
| Stocks and contracts in progress | 3 | €7,993 | €10,006 | +€2,013 | +25.2% |
| Stocks | 30/36 | €7,993 | €10,006 | +€2,013 | +25.2% |
| Amounts receivable within one year | 40/41 | €2,147 | €63,040 | +€60,893 | +2836.3% |
| Trade receivables | 40 | €1,475 | €62,330 | +€60,856 | +4126.9% |
| Other amounts receivable | 41 | €672 | €710 | +€38 | +5.6% |
| Current investments | 50/53 | €30,250 | €30,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €74,819 | €61,301 | -€13,518 | -18.1% |
| Deferred charges and accrued income | 490/1 | €189 | €219 | +€30 | +16.0% |
| Total equity and liabilities | 10/49 | €155,621 | €199,103 | +€43,483 | +27.9% |
| Equity | 10/15 | €11,671 | €687 | -€10,984 | -94.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €399 | €399 | = | 0.0% |
| Distributable reserves | 133 | €399 | €399 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,728 | -€29,712 | -€10,984 | -58.6% |
| Amounts payable | 17/49 | €143,950 | €198,417 | +€54,467 | +37.8% |
| Amounts payable after more than one year | 17 | €25,424 | €9,595 | -€15,829 | -62.3% |
| Financial debts | 170/4 | €25,424 | €9,595 | -€15,829 | -62.3% |
| Amounts payable within one year | 42/48 | €117,767 | €188,822 | +€71,055 | +60.3% |
| Current portion of amounts payable after more than one year | 42 | €9,908 | €9,626 | -€282 | -2.8% |
| Trade debts | 44 | €8,604 | €68,748 | +€60,144 | +699.0% |
| Suppliers | 440/4 | €8,604 | €68,748 | +€60,144 | +699.0% |
| Taxes, remuneration and social security | 45 | €31,851 | €42,875 | +€11,024 | +34.6% |
| Taxes | 450/3 | €14,673 | €26,494 | +€11,821 | +80.6% |
| Remuneration and social security | 454/9 | €17,178 | €16,381 | -€797 | -4.6% |
| Other amounts payable | 47/48 | €67,403 | €67,573 | +€170 | +0.3% |
| Accrued charges and deferred income | 492/3 | €759 | €0 | -€759 | -100.0% |
| Remuneration, social security and pensions | 62 | €347,120 | €352,047 | +€4,927 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,306 | €9,825 | -€480 | -4.7% |
| Other operating charges | 640/8 | €1,180 | €955 | -€225 | -19.1% |
| Gross operating margin | 9900 | €362,705 | €351,789 | -€10,916 | -3.0% |
| Operating profit (loss) | 9901 | €4,099 | -€11,038 | -€15,137 | |
| Financial income | 75/76B | €137 | €1,259 | +€1,122 | +817.9% |
| Recurring financial income | 75 | €137 | €1,259 | +€1,122 | +817.9% |
| Financial charges | 65/66B | €1,612 | €1,205 | -€407 | -25.3% |
| Recurring financial charges | 65 | €1,612 | €1,205 | -€407 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €2,624 | -€10,984 | -€13,608 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €2,624 | -€10,984 | -€13,608 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,624 | -€10,984 | -€13,608 |
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 11 October 2026 via checked.be.