HIRSCH CONSEIL: 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.
HIRSCH CONSEIL
Largest movements
- Current investments +€120,683
new in 2026: €120,683
- Cash -€17,981
down €17,981 (-33.7%), from €53,420 to €35,440
mainly Current investments (-€120,683) and Contributions, distributions and other (-€66,000)
- Other debts +€62,700
up €62,700 (+1,661%), from €3,776 to €66,476
- Reserves +€29,000
up €29,000 (+6.7%), from €433,100 to €462,100
of which Distributable reserves: +€29,000
- Gross operating margin +€5,376
up €5,376 (+4.0%), from €134,462 to €139,838
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,253,137 | €1,355,839 | +€102,702 | +8.2% |
| Fixed assets | 21/28 | €1,199,716 | €1,199,716 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,199,716 | €1,199,716 | = | 0.0% |
| Land and buildings | 22 | €1,199,716 | €1,199,716 | = | 0.0% |
| Current assets | 29/58 | €53,420 | €156,122 | +€102,702 | +192% |
| Current investments | 50/53 | - | €120,683 | +€120,683 | |
| Cash at bank and in hand | 54/58 | €53,420 | €35,440 | -€17,981 | -33.7% |
| Total equity and liabilities | 10/49 | €1,253,137 | €1,355,839 | +€102,702 | +8.2% |
| Equity | 10/15 | €1,232,660 | €1,261,846 | +€29,186 | +2.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €433,100 | €462,100 | +€29,000 | +6.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €426,900 | €455,900 | +€29,000 | +6.8% |
| Profit (loss) carried forward | 14 | €737,560 | €737,746 | +€186 | 0.0% |
| Amounts payable | 17/49 | €20,477 | €93,993 | +€73,516 | +359% |
| Amounts payable within one year | 42/48 | €12,576 | €85,876 | +€73,300 | +583% |
| Taxes, remuneration and social security | 45 | €8,800 | €19,400 | +€10,600 | +120% |
| Taxes | 450/3 | €8,800 | €19,400 | +€10,600 | +120% |
| Other amounts payable | 47/48 | €3,776 | €66,476 | +€62,700 | +1,661% |
| Accrued charges and deferred income | 492/3 | €7,901 | €8,117 | +€216 | +2.7% |
| Other operating charges | 640/8 | €968 | €1,304 | +€336 | +34.7% |
| Gross operating margin | 9900 | €134,462 | €139,838 | +€5,376 | +4.0% |
| Operating profit (loss) | 9901 | €133,494 | €138,534 | +€5,040 | +3.8% |
| Financial income | 75/76B | - | €82 | +€82 | |
| Recurring financial income | 75 | - | €82 | +€82 | |
| Financial charges | 65/66B | €1,504 | €209 | -€1,296 | -86.1% |
| Recurring financial charges | 65 | €1,504 | €209 | -€1,296 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | €131,990 | €138,408 | +€6,418 | +4.9% |
| Income taxes | 67/77 | €42,792 | €43,222 | +€431 | +1.0% |
| Profit (loss) for the period | 9904 | €89,198 | €95,186 | +€5,988 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,198 | €95,186 | +€5,988 | +6.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.