HHBR: 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.
HHBR
Largest movements
- Receivables within one year +€308,155
up €308,155 (+240%), from €128,144 to €436,299
of which Trade receivables: +€195,545
- Cash +€59,911
up €59,911 (+17.4%), from €344,581 to €404,492
mainly Trade debts (+€338,676) and Net result for the year (+€39,478)
- Trade debts +€338,676
up €338,676 (+82.5%), from €410,662 to €749,337
- Other debts +€29,800
up €29,800 (+573%), from €5,200 to €35,000
- Profit (loss) carried forward -€10,522
down €10,522 (-28.6%), from €36,773 to €26,251
- Staff costs -€33,147
down €33,147 (-40.9%), from €80,960 to €47,813
- Gross operating margin -€12,890
down €12,890 (-12.8%), from €100,827 to €87,937
- Depreciation -€2,109
down €2,109 (-57.9%), from €3,643 to €1,533
- Financial income +€2,058
up €2,058 (+39,579%), from €5 to €2,063
of which Financial income: +€1,115
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 | €476,825 | €841,896 | +€365,072 | +76.6% |
| Fixed assets | 21/28 | €2,358 | €825 | -€1,533 | -65.0% |
| Intangible fixed assets | 21 | €1,133 | - | -€1,133 | |
| Tangible fixed assets | 22/27 | €1,200 | €800 | -€400 | -33.3% |
| Furniture and vehicles | 24 | €1,200 | €800 | -€400 | -33.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €474,466 | €841,071 | +€366,605 | +77.3% |
| Amounts receivable within one year | 40/41 | €128,144 | €436,299 | +€308,155 | +240% |
| Trade receivables | 40 | €124,937 | €320,482 | +€195,545 | +157% |
| Other amounts receivable | 41 | €3,207 | €115,817 | +€112,610 | +3,511% |
| Cash at bank and in hand | 54/58 | €344,581 | €404,492 | +€59,911 | +17.4% |
| Deferred charges and accrued income | 490/1 | €1,742 | €281 | -€1,461 | -83.9% |
| Total equity and liabilities | 10/49 | €476,825 | €841,896 | +€365,072 | +76.6% |
| Equity | 10/15 | €39,633 | €29,111 | -€10,522 | -26.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | - | €1,000 | +€1,000 | |
| Issued capital | 100 | - | €1,000 | +€1,000 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,773 | €26,251 | -€10,522 | -28.6% |
| Amounts payable | 17/49 | €437,192 | €812,785 | +€375,593 | +85.9% |
| Amounts payable within one year | 42/48 | €437,192 | €812,785 | +€375,593 | +85.9% |
| Trade debts | 44 | €410,662 | €749,337 | +€338,676 | +82.5% |
| Suppliers | 440/4 | €410,662 | €749,337 | +€338,676 | +82.5% |
| Taxes, remuneration and social security | 45 | €21,330 | €28,448 | +€7,118 | +33.4% |
| Taxes | 450/3 | €1,608 | €22,488 | +€20,880 | +1,298% |
| Remuneration and social security | 454/9 | €19,722 | €5,960 | -€13,762 | -69.8% |
| Other amounts payable | 47/48 | €5,200 | €35,000 | +€29,800 | +573% |
| Non-recurring operating income | 76A | - | €943 | +€943 | |
| Remuneration, social security and pensions | 62 | €80,960 | €47,813 | -€33,147 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,643 | €1,533 | -€2,109 | -57.9% |
| Other operating charges | 640/8 | €1,401 | €1,006 | -€395 | -28.2% |
| Gross operating margin | 9900 | €100,827 | €87,937 | -€12,890 | -12.8% |
| Operating profit (loss) | 9901 | €14,824 | €37,585 | +€22,761 | +154% |
| Financial income | 75/76B | €5 | €2,063 | +€2,058 | +39,579% |
| Recurring financial income | 75 | €5 | €1,120 | +€1,115 | +21,445% |
| Non-recurring financial income | 76B | - | €943 | +€943 | |
| Financial charges | 65/66B | €121 | €170 | +€49 | +40.4% |
| Recurring financial charges | 65 | €121 | €170 | +€49 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €14,708 | €39,478 | +€24,770 | +168% |
| Profit (loss) for the period | 9904 | €14,708 | €39,478 | +€24,770 | +168% |
| Profit (loss) for the period to be appropriated | 9905 | €14,708 | €39,478 | +€24,770 | +168% |
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 13 October 2026 via checked.be.