HIFA: 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.
HIFA
Largest movements
- Financial fixed assets -€21,467
down €21,467 (-67.2%), from €31,967 to €10,500
- Cash +€21,306
up €21,306 (+29.6%), from €71,888 to €93,194
mainly Tax, wage and social debts (+€20,124) and Investment in fixed assets (net) (+€17,937)
- Tangible fixed assets -€7,910
down €7,910 (-11.4%), from €69,281 to €61,371
of which Furniture and vehicles: -€4,408
- Deferred charges and accrued income +€7,745
new in 2025: €7,745
- Receivables within one year -€3,172
down €3,172 (-48.2%), from €6,581 to €3,409
- Other debts -€21,471
down €21,471 (-9.9%), from €217,658 to €196,187
- Tax, wage and social debts +€20,124
up €20,124 (+41.0%), from €49,034 to €69,158
of which Remuneration and social security: +€23,039
- Profit (loss) carried forward -€14,078
down €14,078 (-11.7%), from -€120,174 to -€134,251
- Trade debts +€10,311
up €10,311 (+43.9%), from €23,476 to €33,787
- Staff costs +€93,719
up €93,719 (+28.6%), from €327,822 to €421,541
- Gross operating margin +€63,350
up €63,350 (+17.2%), from €367,423 to €430,773
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 | €189,214 | €184,524 | -€4,690 | -2.5% |
| Fixed assets | 21/28 | €101,248 | €71,871 | -€29,377 | -29.0% |
| Tangible fixed assets | 22/27 | €69,281 | €61,371 | -€7,910 | -11.4% |
| Plant, machinery and equipment | 23 | €633 | €562 | -€71 | -11.3% |
| Furniture and vehicles | 24 | €15,148 | €10,740 | -€4,408 | -29.1% |
| Other tangible fixed assets | 26 | €53,500 | €50,069 | -€3,431 | -6.4% |
| Financial fixed assets | 28 | €31,967 | €10,500 | -€21,467 | -67.2% |
| Current assets | 29/58 | €87,966 | €112,653 | +€24,687 | +28.1% |
| Stocks and contracts in progress | 3 | €9,497 | €8,305 | -€1,192 | -12.5% |
| Stocks | 30/36 | €9,497 | €8,305 | -€1,192 | -12.5% |
| Amounts receivable within one year | 40/41 | €6,581 | €3,409 | -€3,172 | -48.2% |
| Trade receivables | 40 | €6,581 | €3,409 | -€3,172 | -48.2% |
| Cash at bank and in hand | 54/58 | €71,888 | €93,194 | +€21,306 | +29.6% |
| Deferred charges and accrued income | 490/1 | - | €7,745 | +€7,745 | |
| Total equity and liabilities | 10/49 | €189,214 | €184,524 | -€4,690 | -2.5% |
| Equity | 10/15 | -€100,954 | -€115,031 | -€14,078 | -13.9% |
| Contributions | 10/11 | €19,220 | €19,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,174 | -€134,251 | -€14,078 | -11.7% |
| Amounts payable | 17/49 | €290,167 | €299,555 | +€9,388 | +3.2% |
| Amounts payable within one year | 42/48 | €290,167 | €299,132 | +€8,964 | +3.1% |
| Trade debts | 44 | €23,476 | €33,787 | +€10,311 | +43.9% |
| Suppliers | 440/4 | €23,476 | €33,787 | +€10,311 | +43.9% |
| Taxes, remuneration and social security | 45 | €49,034 | €69,158 | +€20,124 | +41.0% |
| Taxes | 450/3 | €26,031 | €23,117 | -€2,914 | -11.2% |
| Remuneration and social security | 454/9 | €23,002 | €46,041 | +€23,039 | +100.2% |
| Other amounts payable | 47/48 | €217,658 | €196,187 | -€21,471 | -9.9% |
| Accrued charges and deferred income | 492/3 | - | €423 | +€423 | |
| Remuneration, social security and pensions | 62 | €327,822 | €421,541 | +€93,719 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,694 | €11,440 | +€747 | +7.0% |
| Other operating charges | 640/8 | €2,867 | €3,768 | +€901 | +31.4% |
| Gross operating margin | 9900 | €367,423 | €430,773 | +€63,350 | +17.2% |
| Operating profit (loss) | 9901 | €26,040 | -€5,977 | -€32,017 | |
| Financial charges | 65/66B | €5,852 | €8,101 | +€2,249 | +38.4% |
| Recurring financial charges | 65 | €5,852 | €8,101 | +€2,249 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €20,188 | -€14,078 | -€34,266 | |
| Profit (loss) for the period | 9904 | €20,188 | -€14,078 | -€34,266 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,188 | -€14,078 | -€34,266 |
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 4 October 2026 via checked.be.