HILDE NAEGELS: 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 NAEGELS
Largest movements
- Current investments -€20,000
down €20,000 (-13.3%), from €150,000 to €130,000
- Cash +€7,240
up €7,240 (+14.4%), from €50,231 to €57,472
mainly Net result for the year (+€21,433) and Current investments (+€20,000)
- Deferred charges and accrued income +€2,535
up €2,535 (+209%), from €1,213 to €3,748
- Other debts -€31,225
down €31,225 (-56.9%), from €54,866 to €23,641
- Profit (loss) carried forward +€21,433
up €21,433 (+15.5%), from €138,689 to €160,122
- Gross operating margin +€1,015
up €1,015 (+2.9%), from €34,788 to €35,802
- Depreciation +€921
up €921 (+21.8%), from €4,232 to €5,153
- Financial income +€530
up €530 (+24.7%), from €2,146 to €2,676
- Taxes +€375
up €375 (+4.4%), from €8,461 to €8,837
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 | €223,245 | €212,304 | -€10,941 | -4.9% |
| Fixed assets | 21/28 | €14,297 | €12,476 | -€1,821 | -12.7% |
| Intangible fixed assets | 21 | €33 | €0 | -€33 | -100% |
| Tangible fixed assets | 22/27 | €14,264 | €12,476 | -€1,788 | -12.5% |
| Plant, machinery and equipment | 23 | €4,940 | €4,726 | -€214 | -4.3% |
| Furniture and vehicles | 24 | €1,120 | €321 | -€799 | -71.3% |
| Other tangible fixed assets | 26 | €8,204 | €7,429 | -€775 | -9.4% |
| Current assets | 29/58 | €208,948 | €199,828 | -€9,120 | -4.4% |
| Stocks and contracts in progress | 3 | €7,297 | €8,300 | +€1,003 | +13.7% |
| Stocks | 30/36 | €7,297 | €8,300 | +€1,003 | +13.7% |
| Amounts receivable within one year | 40/41 | €206 | €308 | +€102 | +49.3% |
| Other amounts receivable | 41 | €206 | €308 | +€102 | +49.3% |
| Current investments | 50/53 | €150,000 | €130,000 | -€20,000 | -13.3% |
| Cash at bank and in hand | 54/58 | €50,231 | €57,472 | +€7,240 | +14.4% |
| Deferred charges and accrued income | 490/1 | €1,213 | €3,748 | +€2,535 | +209% |
| Total equity and liabilities | 10/49 | €223,245 | €212,304 | -€10,941 | -4.9% |
| Equity | 10/15 | €159,149 | €180,582 | +€21,433 | +13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,689 | €160,122 | +€21,433 | +15.5% |
| Amounts payable | 17/49 | €64,096 | €31,722 | -€32,374 | -50.5% |
| Amounts payable within one year | 42/48 | €61,934 | €30,321 | -€31,613 | -51.0% |
| Trade debts | 44 | €55 | €939 | +€884 | +1,594% |
| Suppliers | 440/4 | €55 | €939 | +€884 | +1,594% |
| Taxes, remuneration and social security | 45 | €7,013 | €5,741 | -€1,272 | -18.1% |
| Taxes | 450/3 | €7,013 | €5,741 | -€1,272 | -18.1% |
| Other amounts payable | 47/48 | €54,866 | €23,641 | -€31,225 | -56.9% |
| Accrued charges and deferred income | 492/3 | €2,162 | €1,401 | -€761 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,232 | €5,153 | +€921 | +21.8% |
| Other operating charges | 640/8 | €2,325 | €2,395 | +€70 | +3.0% |
| Gross operating margin | 9900 | €34,788 | €35,802 | +€1,015 | +2.9% |
| Operating profit (loss) | 9901 | €28,231 | €28,255 | +€24 | +0.1% |
| Financial income | 75/76B | €2,146 | €2,676 | +€530 | +24.7% |
| Recurring financial income | 75 | €2,146 | €2,676 | +€530 | +24.7% |
| Financial charges | 65/66B | €582 | €661 | +€79 | +13.6% |
| Recurring financial charges | 65 | €582 | €661 | +€79 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €29,795 | €30,270 | +€474 | +1.6% |
| Income taxes | 67/77 | €8,461 | €8,837 | +€375 | +4.4% |
| Profit (loss) for the period | 9904 | €21,334 | €21,433 | +€99 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,334 | €21,433 | +€99 | +0.5% |
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 29 October 2026 via checked.be.