HILLIS: what changed
Two fiscal 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.
What changed
HILLIS
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€162,043
2024 · €12.1m-€11.9m
Equity
€14.3m
2024 · €14.2m+€162,043
Cash
€314,025
2024 · €149,478+€164,548
Balance sheet total
€17.0m
2024 · €17.0m-€86,765
Largest movements
Assets
- Current investments -€295,327
down €295,327 (-6.2%), from €4.8m to €4.5m
- Receivables within one year +€216,868
up €216,868 (+4.2%), from €5.1m to €5.4m
of which Other amounts receivable: +€212,588
- Tangible fixed assets -€183,569
down €183,569 (-4.5%), from €4.1m to €3.9m
of which Land and buildings: -€121,203
Equity and liabilities
- Debts after one year -€195,135
down €195,135 (-13.7%), from €1.4m to €1.2m
Income statement
- Financial income -€13.0m
down €13.0m (-96.7%), from €13.5m to €450,101
of which Non-recurring financial income: -€13.1m
- Taxes -€1.2m
down €1.2m (-91.8%), from €1.3m to €103,593
- Depreciation +€42,501
up €42,501 (+23.2%), from €183,018 to €225,518
- Gross operating margin -€38,448
down €38,448 (-28.3%), from €136,069 to €97,621
- Financial charges -€23,359
down €23,359 (-34.9%), from €66,844 to €43,485
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.
Result 2024
€12.1m
Gross operating margin
-€38,448
Depreciation
-€42,501
Write-downs
-€2,459
Other operating charges
-€328
Other operating items
+€33,441
Financial income
-€13.0m
Financial charges
+€23,359
Taxes
+€1.2m
Result 2025
€162,043
Cash bridge derived
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.
From operations
+€116,929
Investment
+€253,377
Financing
-€205,759
Cash 2024
€149,478
From operations (derived)
+€116,929
Net result for the year
+€162,043
Depreciation
+€225,518
Receivables after one year
+€63,898
Stocks and contracts
-€3,684
Receivables within one year
-€216,868
Deferred charges and accrued income
-€70,929
Provisions
-€5,017
Trade debts
-€45,664
Tax, wage and social debts
+€32,255
Accrued charges and deferred income
-€24,624
Investment (derived)
+€253,377
Investment in fixed assets (net)
-€41,949
Current investments
+€295,327
Financing
-€205,759
Debts after one year
-€195,135
Current portion of long-term debt
+€2,092
Short-term financial debts
-€12,716
Cash 2025
€314,025
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,038,146 | €16,951,381 | -€86,765 | -0.5% |
| Fixed assets | 21/28 | €4,075,821 | €3,892,252 | -€183,569 | -4.5% |
| Tangible fixed assets | 22/27 | €4,075,821 | €3,892,252 | -€183,569 | -4.5% |
| Land and buildings | 22 | €2,710,542 | €2,589,340 | -€121,203 | -4.5% |
| Plant, machinery and equipment | 23 | €794 | €4,395 | +€3,601 | +453.3% |
| Furniture and vehicles | 24 | €195,348 | €161,251 | -€34,097 | -17.5% |
| Other tangible fixed assets | 26 | €1,169,136 | €1,137,267 | -€31,869 | -2.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €12,962,325 | €13,059,129 | +€96,804 | +0.7% |
| Amounts receivable after more than one year | 29 | €2,843,898 | €2,780,000 | -€63,898 | -2.2% |
| Other amounts receivable | 291 | €2,843,898 | €2,780,000 | -€63,898 | -2.2% |
| Stocks and contracts in progress | 3 | - | €3,684 | +€3,684 | |
| Stocks | 30/36 | - | €3,684 | +€3,684 | |
| Amounts receivable within one year | 40/41 | €5,143,747 | €5,360,614 | +€216,868 | +4.2% |
| Trade receivables | 40 | €52,520 | €56,800 | +€4,280 | +8.1% |
| Other amounts receivable | 41 | €5,091,227 | €5,303,814 | +€212,588 | +4.2% |
| Current investments | 50/53 | €4,754,752 | €4,459,425 | -€295,327 | -6.2% |
| Cash at bank and in hand | 54/58 | €149,478 | €314,025 | +€164,548 | +110.1% |
| Deferred charges and accrued income | 490/1 | €70,451 | €141,381 | +€70,929 | +100.7% |
| Total equity and liabilities | 10/49 | €17,038,146 | €16,951,381 | -€86,765 | -0.5% |
| Equity | 10/15 | €14,154,040 | €14,316,084 | +€162,043 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,135,440 | €14,297,484 | +€162,043 | +1.1% |
| Tax-exempt reserves | 132 | €89,618 | €79,875 | -€9,743 | -10.9% |
| Distributable reserves | 133 | €14,045,822 | €14,217,609 | +€171,786 | +1.2% |
| Provisions and deferred taxes | 16 | €10,034 | €5,017 | -€5,017 | -50.0% |
| Deferred taxes | 168 | €10,034 | €5,017 | -€5,017 | -50.0% |
| Amounts payable | 17/49 | €2,874,072 | €2,630,281 | -€243,791 | -8.5% |
| Amounts payable after more than one year | 17 | €1,423,746 | €1,228,611 | -€195,135 | -13.7% |
| Financial debts | 170/4 | €1,423,746 | €1,228,611 | -€195,135 | -13.7% |
| Amounts payable within one year | 42/48 | €1,425,509 | €1,401,476 | -€24,032 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €193,043 | €195,135 | +€2,092 | +1.1% |
| Financial debts | 43 | €12,757 | €41 | -€12,716 | -99.7% |
| Credit institutions | 430/8 | €12,757 | €41 | -€12,716 | -99.7% |
| Trade debts | 44 | €55,408 | €9,744 | -€45,664 | -82.4% |
| Suppliers | 440/4 | €55,408 | €9,744 | -€45,664 | -82.4% |
| Taxes, remuneration and social security | 45 | €1,164,201 | €1,196,457 | +€32,255 | +2.8% |
| Taxes | 450/3 | €1,159,532 | €1,191,788 | +€32,255 | +2.8% |
| Remuneration and social security | 454/9 | €4,669 | €4,669 | = | 0.0% |
| Other amounts payable | 47/48 | €100 | €100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €24,817 | €193 | -€24,624 | -99.2% |
| Non-recurring operating income | 76A | €94,813 | €20,946 | -€73,866 | -77.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,018 | €225,518 | +€42,501 | +23.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,459 | +€2,459 | |
| Other operating charges | 640/8 | €15,313 | €15,641 | +€328 | +2.1% |
| Non-recurring operating charges | 66A | €33,441 | €0 | -€33,441 | -100.0% |
| Gross operating margin | 9900 | €136,069 | €97,621 | -€38,448 | -28.3% |
| Operating profit (loss) | 9901 | -€95,702 | -€145,997 | -€50,295 | -52.6% |
| Financial income | 75/76B | €13,468,650 | €450,101 | -€13.0m | -96.7% |
| Recurring financial income | 75 | €324,249 | €450,101 | +€125,853 | +38.8% |
| Non-recurring financial income | 76B | €13,144,401 | €0 | -€13.1m | -100.0% |
| Financial charges | 65/66B | €66,844 | €43,485 | -€23,359 | -34.9% |
| Recurring financial charges | 65 | €66,844 | €43,485 | -€23,359 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €13,306,104 | €260,619 | -€13.0m | -98.0% |
| Transfer from deferred taxes | 780 | €5,017 | €5,017 | = | 0.0% |
| Income taxes | 67/77 | €1,256,268 | €103,593 | -€1.2m | -91.8% |
| Profit (loss) for the period | 9904 | €12,054,853 | €162,043 | -€11.9m | -98.7% |
| Transfer from tax-exempt reserves | 789 | €9,743 | €9,743 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,064,596 | €171,786 | -€11.9m | -98.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.