HQ-12B: 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.
HQ-12B
Largest movements
- Cash +€20,438
up €20,438 (+38.7%), from €52,774 to €73,212
mainly Net result for the year (+€75,299) and Tax, wage and social debts (+€14,708)
- Receivables within one year +€6,706
up €6,706 (+10.4%), from €64,511 to €71,217
of which Trade receivables: +€6,547
- Deferred charges and accrued income -€5,141
down €5,141 (-82.2%), from €6,256 to €1,115
- Tangible fixed assets -€3,000
down €3,000 (-12.5%), from €23,923 to €20,923
of which Furniture and vehicles: -€5,912
- Tax, wage and social debts +€14,708
up €14,708 (+64.6%), from €22,757 to €37,465
of which Taxes: +€11,735
- Reserves -€9,343
down €9,343 (-37.5%), from €24,903 to €15,559
of which Distributable reserves: -€9,343
- Trade debts +€7,345
up €7,345 (+41.0%), from €17,916 to €25,261
- Other debts +€7,333
up €7,333 (+11.6%), from €63,288 to €70,621
- Gross operating margin +€17,803
up €17,803 (+21.1%), from €84,499 to €102,302
- Taxes +€3,498
up €3,498 (+21.9%), from €15,969 to €19,467
- Other operating charges -€1,725
down €1,725 (-78.6%), from €2,193 to €468
- Financial income -€1,299
down €1,299 (-56.2%), from €2,314 to €1,014
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 | €147,464 | €167,507 | +€20,043 | +13.6% |
| Fixed assets | 21/28 | €23,923 | €20,923 | -€3,000 | -12.5% |
| Tangible fixed assets | 22/27 | €23,923 | €20,923 | -€3,000 | -12.5% |
| Plant, machinery and equipment | 23 | €11,694 | €14,606 | +€2,912 | +24.9% |
| Furniture and vehicles | 24 | €12,229 | €6,317 | -€5,912 | -48.3% |
| Current assets | 29/58 | €123,541 | €146,584 | +€23,043 | +18.7% |
| Stocks and contracts in progress | 3 | - | €1,041 | +€1,041 | |
| Stocks | 30/36 | - | €1,041 | +€1,041 | |
| Amounts receivable within one year | 40/41 | €64,511 | €71,217 | +€6,706 | +10.4% |
| Trade receivables | 40 | €22,538 | €29,085 | +€6,547 | +29.1% |
| Other amounts receivable | 41 | €41,973 | €42,132 | +€158 | +0.4% |
| Cash at bank and in hand | 54/58 | €52,774 | €73,212 | +€20,438 | +38.7% |
| Deferred charges and accrued income | 490/1 | €6,256 | €1,115 | -€5,141 | -82.2% |
| Total equity and liabilities | 10/49 | €147,464 | €167,507 | +€20,043 | +13.6% |
| Equity | 10/15 | €43,503 | €34,159 | -€9,343 | -21.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,903 | €15,559 | -€9,343 | -37.5% |
| Tax-exempt reserves | 132 | €13,699 | €13,699 | = | 0.0% |
| Distributable reserves | 133 | €11,203 | €1,860 | -€9,343 | -83.4% |
| Amounts payable | 17/49 | €103,961 | €133,347 | +€29,386 | +28.3% |
| Amounts payable within one year | 42/48 | €103,961 | €133,347 | +€29,386 | +28.3% |
| Trade debts | 44 | €17,916 | €25,261 | +€7,345 | +41.0% |
| Suppliers | 440/4 | €17,916 | €25,261 | +€7,345 | +41.0% |
| Taxes, remuneration and social security | 45 | €22,757 | €37,465 | +€14,708 | +64.6% |
| Taxes | 450/3 | €22,757 | €34,491 | +€11,735 | +51.6% |
| Remuneration and social security | 454/9 | - | €2,974 | +€2,974 | |
| Other amounts payable | 47/48 | €63,288 | €70,621 | +€7,333 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,979 | €7,473 | +€494 | +7.1% |
| Other operating charges | 640/8 | €2,193 | €468 | -€1,725 | -78.6% |
| Gross operating margin | 9900 | €84,499 | €102,302 | +€17,803 | +21.1% |
| Operating profit (loss) | 9901 | €75,327 | €94,360 | +€19,033 | +25.3% |
| Financial income | 75/76B | €2,314 | €1,014 | -€1,299 | -56.2% |
| Recurring financial income | 75 | €2,314 | €1,014 | -€1,299 | -56.2% |
| Financial charges | 65/66B | €665 | €608 | -€57 | -8.6% |
| Recurring financial charges | 65 | €665 | €608 | -€57 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €76,976 | €94,767 | +€17,791 | +23.1% |
| Income taxes | 67/77 | €15,969 | €19,467 | +€3,498 | +21.9% |
| Profit (loss) for the period | 9904 | €61,007 | €75,299 | +€14,293 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,007 | €75,299 | +€14,293 | +23.4% |
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 24 October 2026 via checked.be.