Hildebrandt: 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.
Hildebrandt
Largest movements
- Cash -€32,219
down €32,219 (-33.6%), from €95,754 to €63,536
mainly Debts after one year (-€29,877) and Net result for the year (-€25,243)
- Tangible fixed assets -€25,725
down €25,725 (-14.5%), from €176,828 to €151,103
of which Furniture and vehicles: -€17,477
- Debts after one year -€29,877
down €29,877 (-30.1%), from €99,286 to €69,409
- Profit (loss) carried forward -€25,243
down €25,243 (-26.5%), from €95,287 to €70,044
- Trade debts -€3,885
down €3,885 (-12.1%), from €32,047 to €28,163
- Gross operating margin -€8,350
down €8,350 (-54.7%), from €15,272 to €6,922
- Depreciation -€5,796
down €5,796 (-18.4%), from €31,521 to €25,725
- Taxes +€2,976
no longer reported in 2025 (was -€2,976)
- Financial charges -€818
down €818 (-15.7%), from €5,208 to €4,389
- Other operating charges +€234
up €234 (+12.9%), from €1,817 to €2,051
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 | €361,597 | €304,459 | -€57,138 | -15.8% |
| Fixed assets | 21/28 | €177,733 | €152,008 | -€25,725 | -14.5% |
| Tangible fixed assets | 22/27 | €176,828 | €151,103 | -€25,725 | -14.5% |
| Land and buildings | 22 | €150,267 | €143,733 | -€6,533 | -4.3% |
| Plant, machinery and equipment | 23 | €2,018 | €303 | -€1,714 | -85.0% |
| Furniture and vehicles | 24 | €24,543 | €7,066 | -€17,477 | -71.2% |
| Financial fixed assets | 28 | €905 | €905 | = | 0.0% |
| Current assets | 29/58 | €183,864 | €152,452 | -€31,413 | -17.1% |
| Amounts receivable within one year | 40/41 | €87,090 | €88,243 | +€1,154 | +1.3% |
| Trade receivables | 40 | €31,600 | €25,448 | -€6,152 | -19.5% |
| Other amounts receivable | 41 | €55,490 | €62,795 | +€7,306 | +13.2% |
| Cash at bank and in hand | 54/58 | €95,754 | €63,536 | -€32,219 | -33.6% |
| Deferred charges and accrued income | 490/1 | €1,020 | €673 | -€347 | -34.1% |
| Total equity and liabilities | 10/49 | €361,597 | €304,459 | -€57,138 | -15.8% |
| Equity | 10/15 | €199,647 | €174,404 | -€25,243 | -12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €98,160 | €98,160 | = | 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% |
| Tax-exempt reserves | 132 | €96,300 | €96,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,287 | €70,044 | -€25,243 | -26.5% |
| Amounts payable | 17/49 | €161,949 | €130,055 | -€31,894 | -19.7% |
| Amounts payable after more than one year | 17 | €99,286 | €69,409 | -€29,877 | -30.1% |
| Financial debts | 170/4 | €99,286 | €69,409 | -€29,877 | -30.1% |
| Amounts payable within one year | 42/48 | €62,664 | €60,646 | -€2,017 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €30,554 | €31,309 | +€754 | +2.5% |
| Trade debts | 44 | €32,047 | €28,163 | -€3,885 | -12.1% |
| Suppliers | 440/4 | €32,047 | €28,163 | -€3,885 | -12.1% |
| Taxes, remuneration and social security | 45 | €62 | €1,175 | +€1,113 | +1,802% |
| Taxes | 450/3 | - | €1,175 | +€1,175 | |
| Remuneration and social security | 454/9 | €62 | - | -€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,521 | €25,725 | -€5,796 | -18.4% |
| Other operating charges | 640/8 | €1,817 | €2,051 | +€234 | +12.9% |
| Gross operating margin | 9900 | €15,272 | €6,922 | -€8,350 | -54.7% |
| Operating profit (loss) | 9901 | -€18,066 | -€20,854 | -€2,788 | -15.4% |
| Financial income | 75/76B | €7 | €0 | -€7 | -99.9% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -99.9% |
| Financial charges | 65/66B | €5,208 | €4,389 | -€818 | -15.7% |
| Recurring financial charges | 65 | €5,208 | €4,389 | -€818 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | -€23,266 | -€25,243 | -€1,977 | -8.5% |
| Income taxes | 67/77 | -€2,976 | - | +€2,976 | |
| Profit (loss) for the period | 9904 | -€20,290 | -€25,243 | -€4,953 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,290 | -€25,243 | -€4,953 | -24.4% |
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 25 October 2026 via checked.be.