HIFI - EXCLUSIV: 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.
HIFI - EXCLUSIV
Largest movements
- Receivables within one year -€18,369
down €18,369 (-26.5%), from €69,396 to €51,027
of which Other amounts receivable: -€11,705
- Tangible fixed assets -€13,890
down €13,890 (-28.0%), from €49,667 to €35,777
of which Leasing and similar rights: -€11,562
- Deferred charges and accrued income +€11,909
up €11,909 (+119%), from €9,973 to €21,881
- Stocks and contracts -€5,700
down €5,700 (-2.8%), from €207,166 to €201,467
- Cash +€4,945
up €4,945 (+37.6%), from €13,156 to €18,101
mainly Other debts (+€41,334) and Receivables within one year (+€18,369)
- Reserves -€41,411
down €41,411 (-17.3%), from €239,314 to €197,903
of which Distributable reserves: -€41,411
- Other debts +€41,334
up €41,334 (+2,769%), from €1,493 to €42,827
- Debts after one year -€14,031
no longer reported in 2026 (was €14,031)
- Trade debts -€7,347
down €7,347 (-38.4%), from €19,124 to €11,777
- Tax, wage and social debts -€7,276
down €7,276 (-56.9%), from €12,783 to €5,507
of which Remuneration and social security: -€7,865
- Staff costs -€19,220
down €19,220 (-27.9%), from €68,831 to €49,610
- Other operating charges +€1,967
up €1,967 (+90.6%), from €2,171 to €4,138
- Financial income -€1,522
down €1,522 (-36.8%), from €4,136 to €2,614
- Taxes +€1,196
up €1,196 (+171%), from €700 to €1,896
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,250 | €334,620 | -€21,630 | -6.1% |
| Fixed assets | 21/28 | €56,559 | €42,144 | -€14,414 | -25.5% |
| Intangible fixed assets | 21 | €524 | €0 | -€524 | -100% |
| Tangible fixed assets | 22/27 | €49,667 | €35,777 | -€13,890 | -28.0% |
| Land and buildings | 22 | €23,134 | €22,630 | -€504 | -2.2% |
| Plant, machinery and equipment | 23 | €1,726 | €1,121 | -€605 | -35.1% |
| Furniture and vehicles | 24 | €1,492 | €274 | -€1,218 | -81.6% |
| Leasing and similar rights | 25 | €23,314 | €11,752 | -€11,562 | -49.6% |
| Financial fixed assets | 28 | €6,367 | €6,367 | = | 0.0% |
| Current assets | 29/58 | €299,692 | €292,476 | -€7,215 | -2.4% |
| Stocks and contracts in progress | 3 | €207,166 | €201,467 | -€5,700 | -2.8% |
| Stocks | 30/36 | €207,166 | €201,467 | -€5,700 | -2.8% |
| Amounts receivable within one year | 40/41 | €69,396 | €51,027 | -€18,369 | -26.5% |
| Trade receivables | 40 | €55,099 | €48,435 | -€6,664 | -12.1% |
| Other amounts receivable | 41 | €14,297 | €2,592 | -€11,705 | -81.9% |
| Cash at bank and in hand | 54/58 | €13,156 | €18,101 | +€4,945 | +37.6% |
| Deferred charges and accrued income | 490/1 | €9,973 | €21,881 | +€11,909 | +119% |
| Total equity and liabilities | 10/49 | €356,250 | €334,620 | -€21,630 | -6.1% |
| Equity | 10/15 | €296,643 | €259,408 | -€37,234 | -12.6% |
| Contributions | 10/11 | €61,505 | €61,505 | = | 0.0% |
| Capital | 10 | €61,505 | €61,505 | = | 0.0% |
| Issued capital | 100 | €61,505 | €61,505 | = | 0.0% |
| Reserves | 13 | €239,314 | €197,903 | -€41,411 | -17.3% |
| Non-distributable reserves | 130/1 | €6,151 | €6,151 | = | 0.0% |
| Legal reserve | 130 | €6,151 | €6,151 | = | 0.0% |
| Distributable reserves | 133 | €233,163 | €191,753 | -€41,411 | -17.8% |
| Profit (loss) carried forward | 14 | -€4,176 | - | +€4,176 | |
| Amounts payable | 17/49 | €59,608 | €75,212 | +€15,604 | +26.2% |
| Amounts payable after more than one year | 17 | €14,031 | - | -€14,031 | |
| Financial debts | 170/4 | €14,031 | - | -€14,031 | |
| Amounts payable within one year | 42/48 | €45,577 | €75,212 | +€29,635 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | €12,178 | €15,102 | +€2,924 | +24.0% |
| Trade debts | 44 | €19,124 | €11,777 | -€7,347 | -38.4% |
| Suppliers | 440/4 | €19,124 | €11,777 | -€7,347 | -38.4% |
| Taxes, remuneration and social security | 45 | €12,783 | €5,507 | -€7,276 | -56.9% |
| Taxes | 450/3 | €2,931 | €3,520 | +€589 | +20.1% |
| Remuneration and social security | 454/9 | €9,851 | €1,986 | -€7,865 | -79.8% |
| Other amounts payable | 47/48 | €1,493 | €42,827 | +€41,334 | +2,769% |
| Remuneration, social security and pensions | 62 | €68,831 | €49,610 | -€19,220 | -27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,649 | €18,054 | -€595 | -3.2% |
| Other operating charges | 640/8 | €2,171 | €4,138 | +€1,967 | +90.6% |
| Gross operating margin | 9900 | €84,253 | €84,435 | +€182 | +0.2% |
| Operating profit (loss) | 9901 | -€5,398 | €12,632 | +€18,030 | |
| Financial income | 75/76B | €4,136 | €2,614 | -€1,522 | -36.8% |
| Recurring financial income | 75 | €4,136 | €2,614 | -€1,522 | -36.8% |
| Financial charges | 65/66B | €2,215 | €1,580 | -€636 | -28.7% |
| Recurring financial charges | 65 | €2,215 | €1,580 | -€636 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,476 | €13,667 | +€17,143 | |
| Income taxes | 67/77 | €700 | €1,896 | +€1,196 | +171% |
| Profit (loss) for the period | 9904 | -€4,176 | €11,771 | +€15,947 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,176 | €11,771 | +€15,947 |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.