HIGHBURY: what changed
What changed
HIGHBURY
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
filed annual accounts (NBB)
Net result for the year
€13,447
2024 · -€120,742+€134,189
Equity
€636,937
2024 · €623,490+€13,447
Cash
€32,606
2024 · €65,765-€33,159
Balance sheet total
€1.9m
2024 · €2.0m-€100,388
Largest movements
Assets
- Receivables within one year -€101,433
down €101,433 (-99.3%), from €102,100 to €667
of which Other amounts receivable: -€100,453
- Cash -€33,159
down €33,159 (-50.4%), from €65,765 to €32,606
mainly Investment in fixed assets (net) (-€153,436) and Other debts (-€117,380)
- Tangible fixed assets +€30,756
up €30,756 (+1.9%), from €1.6m to €1.6m
of which Furniture and vehicles: +€125,828
Equity and liabilities
- Other debts -€117,380
down €117,380 (-18.5%), from €634,391 to €517,011
- Current portion of long-term debt +€26,052
up €26,052 (+24.6%), from €105,713 to €131,765
Income statement
- Gross operating margin -€42,940
down €42,940 (-21.1%), from €203,576 to €160,637
- Depreciation +€11,766
up €11,766 (+10.6%), from €110,914 to €122,680
- Taxes -€3,388
down €3,388 (-82.4%), from €4,111 to €723
- Financial income -€2,159
down €2,159 (-75.0%), from €2,881 to €721
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€120,742
Gross operating margin
-€42,940
Depreciation
-€11,766
Other operating charges
-€586
Other operating items
+€188,848
Financial income
-€2,159
Financial charges
-€596
Taxes
+€3,388
Result 2025
€13,447
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€109,781
Investment
-€153,436
Financing
+€10,496
Cash 2024
€65,765
From operations (derived)
+€109,781
Net result for the year
+€13,447
Depreciation
+€122,680
Receivables within one year
+€101,433
Deferred charges and accrued income
-€3,448
Trade debts
+€3,451
Tax, wage and social debts
-€9,682
Other debts
-€117,380
Accrued charges and deferred income
-€720
Investment (derived)
-€153,436
Investment in fixed assets (net)
-€153,436
Financing
+€10,496
Debts after one year
-€15,557
Current portion of long-term debt
+€26,052
Cash 2025
€32,606
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,012,733 | €1,912,345 | -€100,388 | -5.0% |
| Fixed assets | 21/28 | €1,841,581 | €1,872,337 | +€30,756 | +1.7% |
| Tangible fixed assets | 22/27 | €1,591,556 | €1,622,312 | +€30,756 | +1.9% |
| Land and buildings | 22 | €1,382,018 | €1,332,618 | -€49,400 | -3.6% |
| Furniture and vehicles | 24 | €15,603 | €141,431 | +€125,828 | +806% |
| Other tangible fixed assets | 26 | €193,935 | €148,263 | -€45,672 | -23.6% |
| Financial fixed assets | 28 | €250,025 | €250,025 | = | 0.0% |
| Current assets | 29/58 | €171,152 | €40,008 | -€131,144 | -76.6% |
| Amounts receivable within one year | 40/41 | €102,100 | €667 | -€101,433 | -99.3% |
| Trade receivables | 40 | €980 | €0 | -€980 | -100% |
| Other amounts receivable | 41 | €101,120 | €667 | -€100,453 | -99.3% |
| Cash at bank and in hand | 54/58 | €65,765 | €32,606 | -€33,159 | -50.4% |
| Deferred charges and accrued income | 490/1 | €3,287 | €6,735 | +€3,448 | +105% |
| Total equity and liabilities | 10/49 | €2,012,733 | €1,912,345 | -€100,388 | -5.0% |
| Equity | 10/15 | €623,490 | €636,937 | +€13,447 | +2.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €680,122 | €680,122 | = | 0.0% |
| Distributable reserves | 133 | €680,122 | €680,122 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,832 | -€49,385 | +€13,447 | +21.4% |
| Amounts payable | 17/49 | €1,389,243 | €1,275,408 | -€113,835 | -8.2% |
| Amounts payable after more than one year | 17 | €635,681 | €620,124 | -€15,557 | -2.4% |
| Financial debts | 170/4 | €635,681 | €620,124 | -€15,557 | -2.4% |
| Amounts payable within one year | 42/48 | €752,842 | €655,284 | -€97,559 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €105,713 | €131,765 | +€26,052 | +24.6% |
| Trade debts | 44 | €2,331 | €5,782 | +€3,451 | +148% |
| Suppliers | 440/4 | €2,331 | €5,782 | +€3,451 | +148% |
| Taxes, remuneration and social security | 45 | €10,408 | €726 | -€9,682 | -93.0% |
| Taxes | 450/3 | €10,408 | €726 | -€9,682 | -93.0% |
| Other amounts payable | 47/48 | €634,391 | €517,011 | -€117,380 | -18.5% |
| Accrued charges and deferred income | 492/3 | €720 | €0 | -€720 | -100% |
| Non-recurring operating income | 76A | - | €9,050 | +€9,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,914 | €122,680 | +€11,766 | +10.6% |
| Other operating charges | 640/8 | €8,573 | €9,159 | +€586 | +6.8% |
| Non-recurring operating charges | 66A | €188,848 | €0 | -€188,848 | -100% |
| Gross operating margin | 9900 | €203,576 | €160,637 | -€42,940 | -21.1% |
| Operating profit (loss) | 9901 | -€104,759 | €28,797 | +€133,557 | |
| Financial income | 75/76B | €2,881 | €721 | -€2,159 | -75.0% |
| Recurring financial income | 75 | €2,881 | €721 | -€2,159 | -75.0% |
| Financial charges | 65/66B | €14,752 | €15,349 | +€596 | +4.0% |
| Recurring financial charges | 65 | €14,752 | €15,349 | +€596 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€116,631 | €14,170 | +€130,801 | |
| Income taxes | 67/77 | €4,111 | €723 | -€3,388 | -82.4% |
| Profit (loss) for the period | 9904 | -€120,742 | €13,447 | +€134,189 | |
| Profit (loss) for the period to be appropriated | 9905 | -€120,742 | €13,447 | +€134,189 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.