HQ MANAGEMENT: 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.
HQ MANAGEMENT
Largest movements
- Tangible fixed assets -€79
no longer reported in 2025 (was €79)
- Other debts +€79,592
up €79,592 (+166.3%), from €47,869 to €127,461
- Trade debts -€79,009
no longer reported in 2025 (was €79,009)
- Profit (loss) carried forward -€662
down €662 (-0.4%), from -€148,281 to -€148,944
- Depreciation -€158
down €158 (-66.7%), from €237 to €79
- Other operating charges +€53
up €53 (+11.3%), from €466 to €518
- Gross operating margin -€1
down €1 (-2.2%), from -€64 to -€65
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79 | - | -€79 | |
| Fixed assets | 21/28 | €79 | - | -€79 | |
| Tangible fixed assets | 22/27 | €79 | - | -€79 | |
| Plant, machinery and equipment | 23 | €79 | - | -€79 | |
| Total equity and liabilities | 10/49 | €79 | - | -€79 | |
| Equity | 10/15 | -€126,799 | -€127,461 | -€662 | -0.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,891 | €2,891 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,031 | €1,031 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,281 | -€148,944 | -€662 | -0.4% |
| Amounts payable | 17/49 | €126,878 | €127,461 | +€583 | +0.5% |
| Amounts payable within one year | 42/48 | €126,878 | €127,461 | +€583 | +0.5% |
| Trade debts | 44 | €79,009 | - | -€79,009 | |
| Suppliers | 440/4 | €79,009 | - | -€79,009 | |
| Other amounts payable | 47/48 | €47,869 | €127,461 | +€79,592 | +166.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237 | €79 | -€158 | -66.7% |
| Other operating charges | 640/8 | €466 | €518 | +€53 | +11.3% |
| Gross operating margin | 9900 | -€64 | -€65 | -€1 | -2.2% |
| Operating profit (loss) | 9901 | -€767 | -€662 | +€104 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | -€767 | -€662 | +€104 | +13.6% |
| Profit (loss) for the period | 9904 | -€767 | -€662 | +€104 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€767 | -€662 | +€104 | +13.6% |
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 7 October 2026 via checked.be.