HI10: 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.
HI10
Largest movements
- Receivables within one year +€113,952
up €113,952 (+28.0%), from €406,638 to €520,590
of which Trade receivables: +€110,317
- Tangible fixed assets +€25,648
up €25,648 (+14.8%), from €173,480 to €199,127
of which Land and buildings: +€18,739
- Cash +€21,127
up €21,127 (+4.7%), from €446,198 to €467,325
mainly Trade debts (+€122,969) and Depreciation (+€61,911)
- Deferred charges and accrued income -€15,340
down €15,340 (-71.3%), from €21,512 to €6,171
- Trade debts +€122,969
up €122,969 (+70.1%), from €175,466 to €298,435
- Reserves -€33,432
down €33,432 (-4.9%), from €677,787 to €644,355
of which Distributable reserves: -€33,432
- Debts after one year +€29,154
new in 2025: €29,154
- Tax, wage and social debts +€17,811
up €17,811 (+10.1%), from €176,513 to €194,324
of which Taxes: +€10,578
- Gross operating margin -€37,407
down €37,407 (-3.8%), from €973,713 to €936,306
- Staff costs +€15,946
up €15,946 (+1.8%), from €889,109 to €905,056
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 | €1,048,427 | €1,193,813 | +€145,386 | +13.9% |
| Fixed assets | 21/28 | €174,080 | €199,727 | +€25,648 | +14.7% |
| Tangible fixed assets | 22/27 | €173,480 | €199,127 | +€25,648 | +14.8% |
| Land and buildings | 22 | €43,081 | €61,820 | +€18,739 | +43.5% |
| Plant, machinery and equipment | 23 | €7,286 | €9,970 | +€2,684 | +36.8% |
| Furniture and vehicles | 24 | €109,075 | €111,424 | +€2,350 | +2.2% |
| Other tangible fixed assets | 26 | €14,038 | €15,913 | +€1,875 | +13.4% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €874,348 | €994,086 | +€119,738 | +13.7% |
| Amounts receivable within one year | 40/41 | €406,638 | €520,590 | +€113,952 | +28.0% |
| Trade receivables | 40 | €200,413 | €310,730 | +€110,317 | +55.0% |
| Other amounts receivable | 41 | €206,225 | €209,860 | +€3,635 | +1.8% |
| Cash at bank and in hand | 54/58 | €446,198 | €467,325 | +€21,127 | +4.7% |
| Deferred charges and accrued income | 490/1 | €21,512 | €6,171 | -€15,340 | -71.3% |
| Total equity and liabilities | 10/49 | €1,048,427 | €1,193,813 | +€145,386 | +13.9% |
| Equity | 10/15 | €696,387 | €662,955 | -€33,432 | -4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €677,787 | €644,355 | -€33,432 | -4.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €86 | €86 | = | 0.0% |
| Distributable reserves | 133 | €675,841 | €642,409 | -€33,432 | -4.9% |
| Amounts payable | 17/49 | €352,040 | €530,858 | +€178,818 | +50.8% |
| Amounts payable after more than one year | 17 | - | €29,154 | +€29,154 | |
| Financial debts | 170/4 | - | €29,154 | +€29,154 | |
| Amounts payable within one year | 42/48 | €351,979 | €501,321 | +€149,342 | +42.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,562 | +€8,562 | |
| Trade debts | 44 | €175,466 | €298,435 | +€122,969 | +70.1% |
| Suppliers | 440/4 | €175,466 | €298,435 | +€122,969 | +70.1% |
| Taxes, remuneration and social security | 45 | €176,513 | €194,324 | +€17,811 | +10.1% |
| Taxes | 450/3 | €40,837 | €51,415 | +€10,578 | +25.9% |
| Remuneration and social security | 454/9 | €135,676 | €142,909 | +€7,233 | +5.3% |
| Accrued charges and deferred income | 492/3 | €61 | €383 | +€322 | +527.7% |
| Non-recurring operating income | 76A | €248 | €165 | -€83 | -33.3% |
| Remuneration, social security and pensions | 62 | €889,109 | €905,056 | +€15,946 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,764 | €61,911 | -€2,853 | -4.4% |
| Other operating charges | 640/8 | €5,887 | €5,060 | -€826 | -14.0% |
| Non-recurring operating charges | 66A | €497 | €911 | +€414 | +83.4% |
| Gross operating margin | 9900 | €973,713 | €936,306 | -€37,407 | -3.8% |
| Operating profit (loss) | 9901 | €13,457 | -€36,632 | -€50,089 | |
| Financial income | 75/76B | €1,353 | €6,846 | +€5,493 | +406.1% |
| Recurring financial income | 75 | €1,353 | €6,846 | +€5,493 | +406.1% |
| Financial charges | 65/66B | €513 | €1,905 | +€1,392 | +271.2% |
| Recurring financial charges | 65 | €513 | €1,905 | +€1,392 | +271.2% |
| Profit (loss) for the period before taxes | 9903 | €14,296 | -€31,691 | -€45,987 | |
| Income taxes | 67/77 | €2,474 | €1,741 | -€733 | -29.6% |
| Profit (loss) for the period | 9904 | €11,822 | -€33,432 | -€45,254 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,822 | -€33,432 | -€45,254 |
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 1 October 2026 via checked.be.