HS CONSTRUCT: 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.
HS CONSTRUCT
Largest movements
- Tangible fixed assets +€32,868
up €32,868 (+381.8%), from €8,610 to €41,477
of which Furniture and vehicles: +€33,113
- Receivables within one year +€32,023
up €32,023 (+304.3%), from €10,523 to €42,546
of which Other amounts receivable: +€17,006
- Cash -€5,049
down €5,049 (-100.0%), from €5,050 to €2
mainly Investment in fixed assets (net) (-€43,378) and Receivables within one year (-€32,023)
- Deferred charges and accrued income -€2,248
no longer reported in 2025 (was €2,248)
- Debts after one year +€21,161
new in 2025: €21,161
- Profit (loss) carried forward +€12,319
up €12,319 (+126.9%), from €9,708 to €22,027
- Trade debts +€11,861
up €11,861 (+1313.8%), from €903 to €12,764
- Current portion of long-term debt +€9,494
new in 2025: €9,494
- Tax, wage and social debts +€2,758
up €2,758 (+47.4%), from €5,819 to €8,578
- Gross operating margin +€8,104
up €8,104 (+35.1%), from €23,102 to €31,205
- Depreciation +€7,362
up €7,362 (+233.8%), from €3,149 to €10,511
- Other operating charges -€5,676
down €5,676 (-76.5%), from €7,415 to €1,739
- Financial charges +€2,675
up €2,675 (+682.4%), from €392 to €3,066
- Taxes +€1,517
up €1,517 (+47.4%), from €3,200 to €4,717
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 | €26,430 | €84,024 | +€57,594 | +217.9% |
| Fixed assets | 21/28 | €8,610 | €41,477 | +€32,868 | +381.8% |
| Tangible fixed assets | 22/27 | €8,610 | €41,477 | +€32,868 | +381.8% |
| Plant, machinery and equipment | 23 | €1,036 | €791 | -€245 | -23.7% |
| Furniture and vehicles | 24 | €7,574 | €40,686 | +€33,113 | +437.2% |
| Current assets | 29/58 | €17,821 | €42,547 | +€24,726 | +138.8% |
| Amounts receivable within one year | 40/41 | €10,523 | €42,546 | +€32,023 | +304.3% |
| Trade receivables | 40 | €1,000 | €16,017 | +€15,017 | +1501.7% |
| Other amounts receivable | 41 | €9,523 | €26,529 | +€17,006 | +178.6% |
| Cash at bank and in hand | 54/58 | €5,050 | €2 | -€5,049 | -100.0% |
| Deferred charges and accrued income | 490/1 | €2,248 | - | -€2,248 | |
| Total equity and liabilities | 10/49 | €26,430 | €84,024 | +€57,594 | +217.9% |
| Equity | 10/15 | €19,708 | €32,027 | +€12,319 | +62.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,708 | €22,027 | +€12,319 | +126.9% |
| Amounts payable | 17/49 | €6,722 | €51,997 | +€45,275 | +673.5% |
| Amounts payable after more than one year | 17 | - | €21,161 | +€21,161 | |
| Financial debts | 170/4 | - | €21,161 | +€21,161 | |
| Amounts payable within one year | 42/48 | €6,722 | €30,836 | +€24,114 | +358.7% |
| Current portion of amounts payable after more than one year | 42 | - | €9,494 | +€9,494 | |
| Trade debts | 44 | €903 | €12,764 | +€11,861 | +1313.8% |
| Suppliers | 440/4 | €903 | €12,764 | +€11,861 | +1313.8% |
| Taxes, remuneration and social security | 45 | €5,819 | €8,578 | +€2,758 | +47.4% |
| Taxes | 450/3 | €5,819 | €8,578 | +€2,758 | +47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,149 | €10,511 | +€7,362 | +233.8% |
| Other operating charges | 640/8 | €7,415 | €1,739 | -€5,676 | -76.5% |
| Gross operating margin | 9900 | €23,102 | €31,205 | +€8,104 | +35.1% |
| Operating profit (loss) | 9901 | €12,538 | €18,956 | +€6,418 | +51.2% |
| Financial income | 75/76B | €762 | €1,147 | +€384 | +50.4% |
| Recurring financial income | 75 | €762 | €1,147 | +€384 | +50.4% |
| Financial charges | 65/66B | €392 | €3,066 | +€2,675 | +682.4% |
| Recurring financial charges | 65 | €392 | €3,066 | +€2,675 | +682.4% |
| Profit (loss) for the period before taxes | 9903 | €12,908 | €17,036 | +€4,128 | +32.0% |
| Income taxes | 67/77 | €3,200 | €4,717 | +€1,517 | +47.4% |
| Profit (loss) for the period | 9904 | €9,708 | €12,319 | +€2,611 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,708 | €12,319 | +€2,611 | +26.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.