HHQ: 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.
HHQ
Largest movements
- Receivables within one year +€76,765
up €76,765 (+42.6%), from €180,365 to €257,131
of which Other amounts receivable: +€75,035
- Cash -€2,835
down €2,835 (-46.7%), from €6,075 to €3,240
mainly Receivables within one year (-€76,765) and Tax, wage and social debts (-€10,340)
- Profit (loss) carried forward +€78,931
up €78,931 (+53.2%), from €148,394 to €227,324
- Tax, wage and social debts -€10,340
down €10,340 (-30.7%), from €33,676 to €23,336
- Short-term financial debts +€5,000
new in 2025: €5,000
- Financial income +€11,296
new in 2025: €11,296
- Gross operating margin -€2,355
down €2,355 (-2.6%), from €90,778 to €88,423
- Taxes +€1,880
up €1,880 (+10.5%), from €17,852 to €19,733
- Other operating charges -€1,374
down €1,374 (-74.6%), from €1,841 to €467
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 | €186,440 | €260,371 | +€73,931 | +39.7% |
| Current assets | 29/58 | €186,440 | €260,371 | +€73,931 | +39.7% |
| Amounts receivable within one year | 40/41 | €180,365 | €257,131 | +€76,765 | +42.6% |
| Trade receivables | 40 | €9,297 | €11,027 | +€1,731 | +18.6% |
| Other amounts receivable | 41 | €171,069 | €246,104 | +€75,035 | +43.9% |
| Cash at bank and in hand | 54/58 | €6,075 | €3,240 | -€2,835 | -46.7% |
| Total equity and liabilities | 10/49 | €186,440 | €260,371 | +€73,931 | +39.7% |
| Equity | 10/15 | €150,394 | €229,324 | +€78,931 | +52.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,394 | €227,324 | +€78,931 | +53.2% |
| Amounts payable | 17/49 | €36,046 | €31,047 | -€5,000 | -13.9% |
| Amounts payable within one year | 42/48 | €34,861 | €29,461 | -€5,401 | -15.5% |
| Financial debts | 43 | - | €5,000 | +€5,000 | |
| Credit institutions | 430/8 | - | €5,000 | +€5,000 | |
| Trade debts | 44 | €1,186 | €1,125 | -€61 | -5.1% |
| Suppliers | 440/4 | €1,186 | €1,125 | -€61 | -5.1% |
| Taxes, remuneration and social security | 45 | €33,676 | €23,336 | -€10,340 | -30.7% |
| Taxes | 450/3 | €33,676 | €23,336 | -€10,340 | -30.7% |
| Accrued charges and deferred income | 492/3 | €1,185 | €1,586 | +€401 | +33.8% |
| Other operating charges | 640/8 | €1,841 | €467 | -€1,374 | -74.6% |
| Gross operating margin | 9900 | €90,778 | €88,423 | -€2,355 | -2.6% |
| Operating profit (loss) | 9901 | €88,937 | €87,956 | -€981 | -1.1% |
| Financial income | 75/76B | - | €11,296 | +€11,296 | |
| Recurring financial income | 75 | - | €11,296 | +€11,296 | |
| Financial charges | 65/66B | €865 | €589 | -€276 | -31.9% |
| Recurring financial charges | 65 | €865 | €589 | -€276 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €88,072 | €98,663 | +€10,592 | +12.0% |
| Income taxes | 67/77 | €17,852 | €19,733 | +€1,880 | +10.5% |
| Profit (loss) for the period | 9904 | €70,219 | €78,931 | +€8,711 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,219 | €78,931 | +€8,711 | +12.4% |
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 8 October 2026 via checked.be.