HLS: 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.
HLS
Largest movements
- Tangible fixed assets -€17,495
down €17,495 (-9.1%), from €192,622 to €175,127
of which Furniture and vehicles: -€9,526
- Receivables within one year +€2,410
up €2,410 (+9960.0%), from €24 to €2,435
- Cash -€1,983
down €1,983 (-100.0%), from €1,983 to €0
mainly Debts after one year (-€16,743) and Trade debts (-€2,981)
- Debts after one year -€16,743
down €16,743 (-20.3%), from €82,522 to €65,779
- Short-term financial debts +€5,135
up €5,135 (+55.6%), from €9,237 to €14,372
- Trade debts -€2,981
down €2,981 (-60.8%), from €4,903 to €1,922
- Gross operating margin +€27,228
up €27,228, from -€5,173 to €22,055
- Depreciation +€2,045
up €2,045 (+13.2%), from €15,450 to €17,495
- Other operating charges -€759
down €759 (-30.1%), from €2,520 to €1,761
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €195,447 | €178,369 | -€17,078 | -8.7% |
| Fixed assets | 21/28 | €192,622 | €175,127 | -€17,495 | -9.1% |
| Tangible fixed assets | 22/27 | €192,622 | €175,127 | -€17,495 | -9.1% |
| Land and buildings | 22 | €133,676 | €131,982 | -€1,694 | -1.3% |
| Plant, machinery and equipment | 23 | €20,737 | €14,462 | -€6,274 | -30.3% |
| Furniture and vehicles | 24 | €38,209 | €28,683 | -€9,526 | -24.9% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €2,824 | €3,241 | +€417 | +14.8% |
| Amounts receivable within one year | 40/41 | €24 | €2,435 | +€2,410 | +9960.0% |
| Trade receivables | 40 | €24 | €2,435 | +€2,410 | +9960.0% |
| Cash at bank and in hand | 54/58 | €1,983 | €0 | -€1,983 | -100.0% |
| Deferred charges and accrued income | 490/1 | €817 | €807 | -€10 | -1.2% |
| Total equity and liabilities | 10/49 | €195,447 | €178,369 | -€17,078 | -8.7% |
| Equity | 10/15 | €84,164 | €84,223 | +€59 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,351 | €19,351 | = | 0.0% |
| Distributable reserves | 133 | €19,351 | €19,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,214 | €46,273 | +€59 | +0.1% |
| Amounts payable | 17/49 | €111,282 | €94,146 | -€17,137 | -15.4% |
| Amounts payable after more than one year | 17 | €82,522 | €65,779 | -€16,743 | -20.3% |
| Financial debts | 170/4 | €82,522 | €65,779 | -€16,743 | -20.3% |
| Amounts payable within one year | 42/48 | €28,760 | €28,366 | -€394 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €6,958 | €7,283 | +€325 | +4.7% |
| Financial debts | 43 | €9,237 | €14,372 | +€5,135 | +55.6% |
| Credit institutions | 430/8 | €9,237 | €14,372 | +€5,135 | +55.6% |
| Trade debts | 44 | €4,903 | €1,922 | -€2,981 | -60.8% |
| Suppliers | 440/4 | €4,903 | €1,922 | -€2,981 | -60.8% |
| Taxes, remuneration and social security | 45 | €2,588 | €888 | -€1,699 | -65.7% |
| Taxes | 450/3 | €2,588 | €888 | -€1,699 | -65.7% |
| Other amounts payable | 47/48 | €5,074 | €3,901 | -€1,173 | -23.1% |
| Non-recurring operating income | 76A | €4,715 | €8,266 | +€3,551 | +75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,450 | €17,495 | +€2,045 | +13.2% |
| Other operating charges | 640/8 | €2,520 | €1,761 | -€759 | -30.1% |
| Non-recurring operating charges | 66A | €2,796 | - | -€2,796 | |
| Gross operating margin | 9900 | -€5,173 | €22,055 | +€27,228 | |
| Operating profit (loss) | 9901 | -€25,939 | €2,799 | +€28,738 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,684 | €2,740 | +€56 | +2.1% |
| Recurring financial charges | 65 | €2,684 | €2,740 | +€56 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,622 | €59 | +€28,681 | |
| Income taxes | 67/77 | €68 | - | -€68 | |
| Profit (loss) for the period | 9904 | -€28,689 | €59 | +€28,748 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,689 | €59 | +€28,748 |
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 30 September 2026 via checked.be.