HNH: what changed
What changed
HNH
NACE 46.349, Wholesale of beverages, general range
filed annual accounts (NBB)
Net result for the year
€178,107
2024 · €78,885+€99,221
Equity
€349,234
2024 · €218,127+€131,107
Cash
€214,675
2024 · €77,008+€137,667
Balance sheet total
€1.7m
2024 · €985,066+€678,368
Largest movements
Assets
- Receivables within one year +€643,514
up €643,514 (+122%), from €528,355 to €1.2m
of which Trade receivables: +€489,658
- Cash +€137,667
up €137,667 (+179%), from €77,008 to €214,675
mainly Trade debts (+€341,736) and Debts after one year (+€178,620)
- Stocks and contracts -€97,699
down €97,699 (-28.2%), from €346,546 to €248,847
Equity and liabilities
- Trade debts +€341,736
up €341,736 (+51.0%), from €669,843 to €1.0m
- Debts after one year +€178,620
new in 2025: €178,620
of which Other amounts payable: +€120,000
- Reserves +€178,107
new in 2025: €178,107
- Tax, wage and social debts +€65,715
up €65,715 (+177%), from €37,162 to €102,878
of which Taxes: +€46,216
- Other debts -€57,438
down €57,438 (-99.6%), from €57,678 to €240
Income statement
- Turnover +€7.2m
up €7.2m (+35.9%), from €20.0m to €27.2m
- Purchases and services +€7.1m
up €7.1m (+35.5%), from €19.9m to €27.0m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€78,885
Gross operating margin
+€176,288
Staff costs
+€5,211
Depreciation
-€6,677
Other operating charges
+€1,230
Financial income
-€5
Financial charges
-€2,420
Taxes
-€74,405
Result 2025
€178,107
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€8,516
Investment
-€6,321
Financing
+€152,504
Cash 2024
€77,008
From operations (derived)
-€8,516
Net result for the year
+€178,107
Depreciation
+€11,926
Stocks and contracts
+€97,699
Receivables within one year
-€643,514
Deferred charges and accrued income
-€492
Trade debts
+€341,736
Tax, wage and social debts
+€65,715
Other debts
-€57,438
Accrued charges and deferred income
-€2,255
Investment (derived)
-€6,321
Investment in fixed assets (net)
-€6,321
Financing
+€152,504
Debts after one year
+€178,620
Current portion of long-term debt
+€20,883
Contributions, distributions and other
-€47,000
Cash 2025
€214,675
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €985,066 | €1,663,434 | +€678,368 | +68.9% |
| Fixed assets | 21/28 | €33,136 | €27,531 | -€5,605 | -16.9% |
| Tangible fixed assets | 22/27 | €33,136 | €27,531 | -€5,605 | -16.9% |
| Plant, machinery and equipment | 23 | €2,881 | €1,546 | -€1,336 | -46.4% |
| Furniture and vehicles | 24 | €30,255 | €22,614 | -€7,640 | -25.3% |
| Other tangible fixed assets | 26 | - | €3,371 | +€3,371 | |
| Current assets | 29/58 | €951,929 | €1,635,903 | +€683,973 | +71.9% |
| Stocks and contracts in progress | 3 | €346,546 | €248,847 | -€97,699 | -28.2% |
| Stocks | 30/36 | €346,546 | €248,847 | -€97,699 | -28.2% |
| Amounts receivable within one year | 40/41 | €528,355 | €1,171,869 | +€643,514 | +122% |
| Trade receivables | 40 | €518,930 | €1,008,589 | +€489,658 | +94.4% |
| Other amounts receivable | 41 | €9,424 | €163,280 | +€153,856 | +1,633% |
| Cash at bank and in hand | 54/58 | €77,008 | €214,675 | +€137,667 | +179% |
| Deferred charges and accrued income | 490/1 | €20 | €512 | +€492 | +2,483% |
| Total equity and liabilities | 10/49 | €985,066 | €1,663,434 | +€678,368 | +68.9% |
| Equity | 10/15 | €218,127 | €349,234 | +€131,107 | +60.1% |
| Contributions | 10/11 | €62,000 | €15,000 | -€47,000 | -75.8% |
| Reserves | 13 | - | €178,107 | +€178,107 | |
| Non-distributable reserves | 130/1 | - | €178,107 | +€178,107 | |
| Reserves not available under the articles | 1311 | - | €178,107 | +€178,107 | |
| Profit (loss) carried forward | 14 | €156,127 | €156,127 | = | 0.0% |
| Amounts payable | 17/49 | €766,938 | €1,314,200 | +€547,262 | +71.4% |
| Amounts payable after more than one year | 17 | - | €178,620 | +€178,620 | |
| Financial debts | 170/4 | - | €58,620 | +€58,620 | |
| Other amounts payable | 178/9 | - | €120,000 | +€120,000 | |
| Amounts payable within one year | 42/48 | €764,683 | €1,135,580 | +€370,897 | +48.5% |
| Current portion of amounts payable after more than one year | 42 | - | €20,883 | +€20,883 | |
| Trade debts | 44 | €669,843 | €1,011,579 | +€341,736 | +51.0% |
| Suppliers | 440/4 | €669,843 | €1,011,579 | +€341,736 | +51.0% |
| Taxes, remuneration and social security | 45 | €37,162 | €102,878 | +€65,715 | +177% |
| Taxes | 450/3 | €29,001 | €75,216 | +€46,216 | +159% |
| Remuneration and social security | 454/9 | €8,162 | €27,661 | +€19,500 | +239% |
| Other amounts payable | 47/48 | €57,678 | €240 | -€57,438 | -99.6% |
| Accrued charges and deferred income | 492/3 | €2,255 | - | -€2,255 | |
| Turnover | 70 | €20,043,983 | €27,238,514 | +€7.2m | +35.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €19,917,495 | €26,979,778 | +€7.1m | +35.5% |
| Remuneration, social security and pensions | 62 | €34,286 | €29,075 | -€5,211 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,249 | €11,926 | +€6,677 | +127% |
| Other operating charges | 640/8 | €5,794 | €4,564 | -€1,230 | -21.2% |
| Gross operating margin | 9900 | €132,066 | €308,354 | +€176,288 | +133% |
| Operating profit (loss) | 9901 | €86,737 | €262,789 | +€176,052 | +203% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,404 | €3,824 | +€2,420 | +172% |
| Recurring financial charges | 65 | €1,404 | €3,824 | +€2,420 | +172% |
| Profit (loss) for the period before taxes | 9903 | €85,338 | €258,965 | +€173,627 | +203% |
| Income taxes | 67/77 | €6,453 | €80,858 | +€74,405 | +1,153% |
| Profit (loss) for the period | 9904 | €78,885 | €178,107 | +€99,221 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €78,885 | €178,107 | +€99,221 | +126% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.