HILDE MOESEN: 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.
HILDE MOESEN
Largest movements
- Cash +€161,072
up €161,072 (+68.2%), from €236,168 to €397,240
mainly Current investments (+€100,000) and Receivables within one year (+€54,241)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year -€54,241
down €54,241 (-99.0%), from €54,801 to €560
of which Trade receivables: -€54,801
- Tangible fixed assets -€15,421
down €15,421 (-30.3%), from €50,965 to €35,544
of which Furniture and vehicles: -€15,139
- Trade debts +€48,934
up €48,934 (+33,748%), from €145 to €49,079
- Reserves -€43,157
down €43,157 (-12.6%), from €342,865 to €299,708
of which Distributable reserves: -€41,297
- Accrued charges and deferred income -€22,493
down €22,493 (-100%), from €22,493 to €0
- Other debts +€18,225
up €18,225 (+180%), from €10,145 to €28,370
- Debts after one year -€7,167
down €7,167 (-40.1%), from €17,872 to €10,705
- Gross operating margin -€57,332
down €57,332 (-36.0%), from €159,367 to €102,035
- Financial charges -€14,890
down €14,890 (-87.8%), from €16,963 to €2,073
- Write-downs -€12,223
new in 2025: -€12,223
- Taxes -€6,104
down €6,104 (-22.1%), from €27,659 to €21,555
- Staff costs -€5,616
down €5,616 (-19.2%), from €29,303 to €23,687
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 | €444,560 | €435,435 | -€9,125 | -2.1% |
| Fixed assets | 21/28 | €50,965 | €35,544 | -€15,421 | -30.3% |
| Tangible fixed assets | 22/27 | €50,965 | €35,544 | -€15,421 | -30.3% |
| Plant, machinery and equipment | 23 | €281 | €1,091 | +€810 | +288% |
| Furniture and vehicles | 24 | €46,276 | €31,137 | -€15,139 | -32.7% |
| Other tangible fixed assets | 26 | €4,408 | €3,315 | -€1,093 | -24.8% |
| Current assets | 29/58 | €393,595 | €399,892 | +€6,297 | +1.6% |
| Amounts receivable within one year | 40/41 | €54,801 | €560 | -€54,241 | -99.0% |
| Trade receivables | 40 | €54,801 | €0 | -€54,801 | -100% |
| Other amounts receivable | 41 | - | €560 | +€560 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €236,168 | €397,240 | +€161,072 | +68.2% |
| Deferred charges and accrued income | 490/1 | €2,626 | €2,092 | -€534 | -20.3% |
| Total equity and liabilities | 10/49 | €444,560 | €435,435 | -€9,125 | -2.1% |
| Equity | 10/15 | €349,065 | €305,908 | -€43,157 | -12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €342,865 | €299,708 | -€43,157 | -12.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €341,005 | €299,708 | -€41,297 | -12.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €95,495 | €129,528 | +€34,033 | +35.6% |
| Amounts payable after more than one year | 17 | €17,872 | €10,705 | -€7,167 | -40.1% |
| Financial debts | 170/4 | €17,872 | €10,705 | -€7,167 | -40.1% |
| Amounts payable within one year | 42/48 | €55,130 | €118,823 | +€63,693 | +116% |
| Current portion of amounts payable after more than one year | 42 | €9,704 | €10,292 | +€588 | +6.1% |
| Trade debts | 44 | €145 | €49,079 | +€48,934 | +33,748% |
| Suppliers | 440/4 | €145 | €49,079 | +€48,934 | +33,748% |
| Taxes, remuneration and social security | 45 | €35,136 | €31,082 | -€4,054 | -11.5% |
| Taxes | 450/3 | €31,500 | €27,270 | -€4,230 | -13.4% |
| Remuneration and social security | 454/9 | €3,636 | €3,812 | +€176 | +4.8% |
| Other amounts payable | 47/48 | €10,145 | €28,370 | +€18,225 | +180% |
| Accrued charges and deferred income | 492/3 | €22,493 | €0 | -€22,493 | -100% |
| Remuneration, social security and pensions | 62 | €29,303 | €23,687 | -€5,616 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,440 | €19,694 | +€1,254 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€12,223 | -€12,223 | |
| Other operating charges | 640/8 | €1,438 | €2,049 | +€611 | +42.5% |
| Gross operating margin | 9900 | €159,367 | €102,035 | -€57,332 | -36.0% |
| Operating profit (loss) | 9901 | €110,186 | €68,828 | -€41,358 | -37.5% |
| Financial income | 75/76B | €659 | €2,580 | +€1,921 | +291% |
| Recurring financial income | 75 | €659 | €2,580 | +€1,921 | +291% |
| Financial charges | 65/66B | €16,963 | €2,073 | -€14,890 | -87.8% |
| Recurring financial charges | 65 | €16,963 | €2,073 | -€14,890 | -87.8% |
| Profit (loss) for the period before taxes | 9903 | €93,882 | €69,334 | -€24,548 | -26.1% |
| Income taxes | 67/77 | €27,659 | €21,555 | -€6,104 | -22.1% |
| Profit (loss) for the period | 9904 | €66,223 | €47,779 | -€18,444 | -27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,223 | €47,779 | -€18,444 | -27.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.