HILBO 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.
HILBO MANAGEMENT
Largest movements
- Receivables within one year -€259,305
down €259,305 (-15.9%), from €1.6m to €1.4m
of which Other amounts receivable: -€288,166
- Receivables after one year +€110,000
up €110,000 (+72.7%), from €151,401 to €261,401
- Cash +€33,922
up €33,922 (+117%), from €28,988 to €62,910
mainly Receivables within one year (+€259,305) and Net result for the year (+€53,442)
- Tangible fixed assets -€28,943
down €28,943 (-5.4%), from €535,269 to €506,326
of which Land and buildings: -€28,273
- Other debts -€140,711
down €140,711 (-16.6%), from €848,456 to €707,745
- Debts after one year -€61,521
down €61,521 (-9.0%), from €681,713 to €620,192
- Reserves +€53,442
up €53,442 (+76.6%), from €69,781 to €123,223
- Trade debts -€45,425
down €45,425 (-81.3%), from €55,896 to €10,472
- Tax, wage and social debts +€39,438
up €39,438 (+711%), from €5,543 to €44,982
- Gross operating margin +€363,596
up €363,596 (+538%), from €67,607 to €431,203
- Other operating charges +€290,118
up €290,118 (+2,576%), from €11,261 to €301,379
- Taxes +€26,151
up €26,151 (+472%), from €5,543 to €31,695
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 | €2,409,239 | €2,255,435 | -€153,805 | -6.4% |
| Fixed assets | 21/28 | €552,770 | €523,827 | -€28,943 | -5.2% |
| Tangible fixed assets | 22/27 | €535,269 | €506,326 | -€28,943 | -5.4% |
| Land and buildings | 22 | €526,246 | €497,973 | -€28,273 | -5.4% |
| Furniture and vehicles | 24 | €9,023 | €8,353 | -€670 | -7.4% |
| Financial fixed assets | 28 | €17,501 | €17,501 | = | 0.0% |
| Current assets | 29/58 | €1,856,469 | €1,731,608 | -€124,862 | -6.7% |
| Amounts receivable after more than one year | 29 | €151,401 | €261,401 | +€110,000 | +72.7% |
| Other amounts receivable | 291 | €151,401 | €261,401 | +€110,000 | +72.7% |
| Amounts receivable within one year | 40/41 | €1,629,833 | €1,370,528 | -€259,305 | -15.9% |
| Trade receivables | 40 | €0 | €28,860 | +€28,860 | |
| Other amounts receivable | 41 | €1,629,833 | €1,341,668 | -€288,166 | -17.7% |
| Cash at bank and in hand | 54/58 | €28,988 | €62,910 | +€33,922 | +117% |
| Deferred charges and accrued income | 490/1 | €46,247 | €36,769 | -€9,478 | -20.5% |
| Total equity and liabilities | 10/49 | €2,409,239 | €2,255,435 | -€153,805 | -6.4% |
| Equity | 10/15 | €751,481 | €804,923 | +€53,442 | +7.1% |
| Contributions | 10/11 | €681,700 | €681,700 | = | 0.0% |
| Reserves | 13 | €69,781 | €123,223 | +€53,442 | +76.6% |
| Distributable reserves | 133 | €69,781 | €123,223 | +€53,442 | +76.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,657,758 | €1,450,511 | -€207,246 | -12.5% |
| Amounts payable after more than one year | 17 | €681,713 | €620,192 | -€61,521 | -9.0% |
| Financial debts | 170/4 | €681,713 | €620,192 | -€61,521 | -9.0% |
| Amounts payable within one year | 42/48 | €970,409 | €824,719 | -€145,690 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €60,513 | €61,521 | +€1,008 | +1.7% |
| Trade debts | 44 | €55,896 | €10,472 | -€45,425 | -81.3% |
| Suppliers | 440/4 | €55,896 | €10,472 | -€45,425 | -81.3% |
| Taxes, remuneration and social security | 45 | €5,543 | €44,982 | +€39,438 | +711% |
| Taxes | 450/3 | €5,543 | €44,982 | +€39,438 | +711% |
| Other amounts payable | 47/48 | €848,456 | €707,745 | -€140,711 | -16.6% |
| Accrued charges and deferred income | 492/3 | €5,636 | €5,600 | -€36 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,154 | €34,910 | +€756 | +2.2% |
| Other operating charges | 640/8 | €11,261 | €301,379 | +€290,118 | +2,576% |
| Non-recurring operating charges | 66A | €71 | €0 | -€71 | -100% |
| Gross operating margin | 9900 | €67,607 | €431,203 | +€363,596 | +538% |
| Operating profit (loss) | 9901 | €22,122 | €94,914 | +€72,792 | +329% |
| Financial income | 75/76B | €3,339 | €3,368 | +€28 | +0.8% |
| Recurring financial income | 75 | €3,339 | €3,368 | +€28 | +0.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,874 | €13,145 | -€728 | -5.3% |
| Recurring financial charges | 65 | €13,874 | €13,145 | -€728 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €11,587 | €85,136 | +€73,549 | +635% |
| Income taxes | 67/77 | €5,543 | €31,695 | +€26,151 | +472% |
| Profit (loss) for the period | 9904 | €6,044 | €53,442 | +€47,398 | +784% |
| Profit (loss) for the period to be appropriated | 9905 | €6,044 | €53,442 | +€47,398 | +784% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.