HiSta Research Consult: 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.
HiSta Research Consult
Largest movements
- Current investments +€150,000
up €150,000 (+750%), from €20,000 to €170,000
- Cash -€66,175
down €66,175 (-41.6%), from €158,920 to €92,745
mainly Current investments (-€150,000) and Contributions, distributions and other (-€60,000)
- Tangible fixed assets -€8,783
down €8,783 (-22.4%), from €39,229 to €30,445
of which Furniture and vehicles: -€8,735
- Other debts +€60,690
up €60,690 (+96.3%), from €63,004 to €123,695
- Profit (loss) carried forward +€17,751
up €17,751 (+47.4%), from €37,486 to €55,236
- Tax, wage and social debts -€4,981
down €4,981 (-13.6%), from €36,570 to €31,589
of which Taxes: -€3,219
- Financial income -€2,687
down €2,687 (-86.4%), from €3,109 to €423
- Taxes -€1,114
down €1,114 (-5.2%), from €21,424 to €20,310
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 | €221,576 | €297,994 | +€76,419 | +34.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €39,229 | €30,445 | -€8,783 | -22.4% |
| Tangible fixed assets | 22/27 | €39,229 | €30,445 | -€8,783 | -22.4% |
| Plant, machinery and equipment | 23 | €275 | €573 | +€298 | +108% |
| Furniture and vehicles | 24 | €35,891 | €27,156 | -€8,735 | -24.3% |
| Other tangible fixed assets | 26 | €3,063 | €2,717 | -€347 | -11.3% |
| Current assets | 29/58 | €182,347 | €267,549 | +€85,202 | +46.7% |
| Amounts receivable within one year | 40/41 | €582 | €674 | +€92 | +15.8% |
| Other amounts receivable | 41 | €582 | €674 | +€92 | +15.8% |
| Current investments | 50/53 | €20,000 | €170,000 | +€150,000 | +750% |
| Cash at bank and in hand | 54/58 | €158,920 | €92,745 | -€66,175 | -41.6% |
| Deferred charges and accrued income | 490/1 | €2,845 | €4,130 | +€1,285 | +45.2% |
| Total equity and liabilities | 10/49 | €221,576 | €297,994 | +€76,419 | +34.5% |
| Equity | 10/15 | €122,002 | €139,752 | +€17,751 | +14.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €79,516 | €79,516 | = | 0.0% |
| Distributable reserves | 133 | €79,516 | €79,516 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,486 | €55,236 | +€17,751 | +47.4% |
| Amounts payable | 17/49 | €99,574 | €158,242 | +€58,668 | +58.9% |
| Amounts payable within one year | 42/48 | €99,574 | €158,242 | +€58,668 | +58.9% |
| Trade debts | 44 | - | €2,959 | +€2,959 | |
| Suppliers | 440/4 | - | €2,959 | +€2,959 | |
| Taxes, remuneration and social security | 45 | €36,570 | €31,589 | -€4,981 | -13.6% |
| Taxes | 450/3 | €27,539 | €24,320 | -€3,219 | -11.7% |
| Remuneration and social security | 454/9 | €9,031 | €7,269 | -€1,762 | -19.5% |
| Other amounts payable | 47/48 | €63,004 | €123,695 | +€60,690 | +96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,650 | €10,089 | +€439 | +4.6% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | €110,347 | €109,563 | -€785 | -0.7% |
| Operating profit (loss) | 9901 | €100,557 | €99,329 | -€1,228 | -1.2% |
| Financial income | 75/76B | €3,109 | €423 | -€2,687 | -86.4% |
| Recurring financial income | 75 | €3,109 | €423 | -€2,687 | -86.4% |
| Financial charges | 65/66B | €1,812 | €1,692 | -€120 | -6.6% |
| Recurring financial charges | 65 | €1,812 | €1,692 | -€120 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €101,854 | €98,060 | -€3,794 | -3.7% |
| Income taxes | 67/77 | €21,424 | €20,310 | -€1,114 | -5.2% |
| Profit (loss) for the period | 9904 | €80,431 | €77,751 | -€2,680 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €80,431 | €77,751 | -€2,680 | -3.3% |
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 26 October 2026 via checked.be.