HI-END MANAGEMENT: 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.
HI-END MANAGEMENT
Largest movements
- Receivables within one year +€38,328
up €38,328 (+281%), from €13,631 to €51,959
of which Other amounts receivable: +€38,328
- Tangible fixed assets -€7,461
down €7,461 (-100%), from €7,461 to €0
of which Land and buildings: -€7,461
- Cash +€3,259
up €3,259 (+10.1%), from €32,427 to €35,686
mainly Other debts (+€67,467) and Net result for the year (+€42,939)
- Other debts +€67,467
up €67,467 (+65,135%), from €104 to €67,571
- Reserves -€24,632
down €24,632 (-100%), from €24,632 to €0
- Short-term financial debts -€3,663
down €3,663 (-25.8%), from €14,216 to €10,553
of which Credit institutions: -€3,663
- Tax, wage and social debts -€3,094
down €3,094 (-51.6%), from €5,991 to €2,897
of which Taxes: -€3,094
- Trade debts -€1,931
down €1,931 (-49.2%), from €3,923 to €1,993
- Other operating charges +€7,520
up €7,520 (+833%), from €903 to €8,424
- Depreciation -€3,116
down €3,116 (-100%), from €3,116 to €0
- Financial income -€1,064
down €1,064 (-45.3%), from €2,348 to €1,284
- Financial charges +€919
up €919 (+30.0%), from €3,064 to €3,983
of which Financial charges: +€919
- Gross operating margin +€742
up €742 (+1.1%), from €66,531 to €67,273
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 | €55,065 | €89,213 | +€34,148 | +62.0% |
| Fixed assets | 21/28 | €7,461 | €0 | -€7,461 | -100% |
| Tangible fixed assets | 22/27 | €7,461 | €0 | -€7,461 | -100% |
| Land and buildings | 22 | €7,461 | €0 | -€7,461 | -100% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €47,605 | €89,213 | +€41,609 | +87.4% |
| Amounts receivable within one year | 40/41 | €13,631 | €51,959 | +€38,328 | +281% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €13,631 | €51,959 | +€38,328 | +281% |
| Cash at bank and in hand | 54/58 | €32,427 | €35,686 | +€3,259 | +10.1% |
| Deferred charges and accrued income | 490/1 | €1,547 | €1,568 | +€21 | +1.4% |
| Total equity and liabilities | 10/49 | €55,065 | €89,213 | +€34,148 | +62.0% |
| Equity | 10/15 | €30,832 | €6,200 | -€24,632 | -79.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,632 | €0 | -€24,632 | -100% |
| Distributable reserves | 133 | €24,632 | €0 | -€24,632 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,233 | €83,013 | +€58,780 | +243% |
| Amounts payable within one year | 42/48 | €24,233 | €83,013 | +€58,780 | +243% |
| Financial debts | 43 | €14,216 | €10,553 | -€3,663 | -25.8% |
| Credit institutions | 430/8 | €4,216 | €553 | -€3,663 | -86.9% |
| Other loans | 439 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €3,923 | €1,993 | -€1,931 | -49.2% |
| Suppliers | 440/4 | €3,923 | €1,993 | -€1,931 | -49.2% |
| Taxes, remuneration and social security | 45 | €5,991 | €2,897 | -€3,094 | -51.6% |
| Taxes | 450/3 | €5,991 | €2,897 | -€3,094 | -51.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €104 | €67,571 | +€67,467 | +65,135% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,116 | €0 | -€3,116 | -100% |
| Other operating charges | 640/8 | €903 | €8,424 | +€7,520 | +833% |
| Gross operating margin | 9900 | €66,531 | €67,273 | +€742 | +1.1% |
| Operating profit (loss) | 9901 | €62,511 | €58,849 | -€3,662 | -5.9% |
| Financial income | 75/76B | €2,348 | €1,284 | -€1,064 | -45.3% |
| Recurring financial income | 75 | €2,348 | €1,284 | -€1,064 | -45.3% |
| Financial charges | 65/66B | €3,064 | €3,983 | +€919 | +30.0% |
| Recurring financial charges | 65 | €3,064 | €3,983 | +€919 | +30.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €61,795 | €56,150 | -€5,645 | -9.1% |
| Income taxes | 67/77 | €13,230 | €13,211 | -€19 | -0.1% |
| Profit (loss) for the period | 9904 | €48,565 | €42,939 | -€5,626 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,565 | €42,939 | -€5,626 | -11.6% |
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 26 October 2026 via checked.be.