HL NEXT: 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.
HL NEXT
Largest movements
- Cash +€738,006
up €738,006 (+160%), from €460,387 to €1.2m
- Tangible fixed assets -€98,479
down €98,479 (-16.0%), from €614,043 to €515,563
of which Land and buildings: -€77,023
- Reserves +€518,715
up €518,715 (+136%), from €381,280 to €899,995
of which Distributable reserves: +€371,365
- Other debts +€87,478
up €87,478 (+65.3%), from €133,985 to €221,463
- Tax, wage and social debts +€27,100
up €27,100 (+94.4%), from €28,696 to €55,795
of which Taxes: +€26,176
- Gross operating margin +€705,928
up €705,928 (+280%), from €252,052 to €957,980
- Taxes +€316,270
up €316,270 (+665%), from €47,583 to €363,853
- Financial income +€30,400
up €30,400 (+599,611%), from €5 to €30,405
- Depreciation -€20,055
down €20,055 (-38.0%), from €52,722 to €32,667
- Financial charges +€10,015
up €10,015 (+121%), from €8,295 to €18,310
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,092,183 | €1,745,639 | +€653,456 | +59.8% |
| Fixed assets | 21/28 | €614,043 | €515,563 | -€98,479 | -16.0% |
| Tangible fixed assets | 22/27 | €614,043 | €515,563 | -€98,479 | -16.0% |
| Land and buildings | 22 | €528,164 | €451,141 | -€77,023 | -14.6% |
| Plant, machinery and equipment | 23 | €70,472 | €56,777 | -€13,695 | -19.4% |
| Furniture and vehicles | 24 | €15,406 | €7,645 | -€7,761 | -50.4% |
| Current assets | 29/58 | €478,140 | €1,230,076 | +€751,935 | +157% |
| Amounts receivable within one year | 40/41 | €35 | €14,152 | +€14,117 | +40,825% |
| Trade receivables | 40 | €33 | €14,152 | +€14,119 | +43,191% |
| Other amounts receivable | 41 | €2 | - | -€2 | |
| Current investments | 50/53 | €7 | - | -€7 | |
| Cash at bank and in hand | 54/58 | €460,387 | €1,198,393 | +€738,006 | +160% |
| Deferred charges and accrued income | 490/1 | €17,712 | €17,531 | -€181 | -1.0% |
| Total equity and liabilities | 10/49 | €1,092,183 | €1,745,639 | +€653,456 | +59.8% |
| Equity | 10/15 | €914,057 | €1,432,772 | +€518,715 | +56.7% |
| 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 | €381,280 | €899,995 | +€518,715 | +136% |
| Non-distributable reserves | 130/1 | €90,030 | €90,030 | = | 0.0% |
| Legal reserve | 130 | €90,030 | €90,030 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €147,350 | +€147,350 | |
| Distributable reserves | 133 | €291,250 | €662,615 | +€371,365 | +128% |
| Profit (loss) carried forward | 14 | €470,777 | €470,777 | = | 0.0% |
| Amounts payable | 17/49 | €178,126 | €312,867 | +€134,741 | +75.6% |
| Amounts payable within one year | 42/48 | €164,552 | €295,758 | +€131,206 | +79.7% |
| Trade debts | 44 | €1,871 | €18,501 | +€16,629 | +889% |
| Suppliers | 440/4 | €1,871 | €18,501 | +€16,629 | +889% |
| Taxes, remuneration and social security | 45 | €28,696 | €55,795 | +€27,100 | +94.4% |
| Taxes | 450/3 | €25,818 | €51,994 | +€26,176 | +101% |
| Remuneration and social security | 454/9 | €2,877 | €3,801 | +€924 | +32.1% |
| Other amounts payable | 47/48 | €133,985 | €221,463 | +€87,478 | +65.3% |
| Accrued charges and deferred income | 492/3 | €13,574 | €17,109 | +€3,535 | +26.0% |
| Remuneration, social security and pensions | 62 | €33,271 | €32,175 | -€1,096 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,722 | €32,667 | -€20,055 | -38.0% |
| Other operating charges | 640/8 | €13,868 | €22,666 | +€8,798 | +63.4% |
| Gross operating margin | 9900 | €252,052 | €957,980 | +€705,928 | +280% |
| Operating profit (loss) | 9901 | €152,190 | €870,472 | +€718,282 | +472% |
| Financial income | 75/76B | €5 | €30,405 | +€30,400 | +599,611% |
| Recurring financial income | 75 | €5 | €30,405 | +€30,400 | +599,611% |
| Financial charges | 65/66B | €8,295 | €18,310 | +€10,015 | +121% |
| Recurring financial charges | 65 | €8,295 | €18,310 | +€10,015 | +121% |
| Profit (loss) for the period before taxes | 9903 | €143,901 | €882,568 | +€738,667 | +513% |
| Income taxes | 67/77 | €47,583 | €363,853 | +€316,270 | +665% |
| Profit (loss) for the period | 9904 | €96,318 | €518,715 | +€422,397 | +439% |
| Transfer to tax-exempt reserves | 689 | - | €147,350 | +€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €96,318 | €371,365 | +€275,047 | +286% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.