HS-Neuro: what changed
HS-Neuro
Largest movements
- Intangible fixed assets -€50,000
down €50,000 (-50.0%), from €100,000 to €50,000
- Tangible fixed assets +€13,166
up €13,166 (+87.9%), from €14,971 to €28,137
of which Plant, machinery and equipment: +€14,157
- Receivables within one year +€8,644
up €8,644 (+79.6%), from €10,857 to €19,500
of which Trade receivables: +€7,254
- Cash +€7,052
up €7,052 (+8.5%), from €82,778 to €89,830
mainly Net result for the year (+€85,085) and Depreciation (+€58,009)
- Debts after one year -€39,887
down €39,887 (-54.0%), from €73,837 to €33,950
- Other debts +€19,009
up €19,009 (+50.2%), from €37,849 to €56,858
- Tax, wage and social debts -€12,786
down €12,786 (-33.0%), from €38,744 to €25,958
of which Taxes: -€15,909
- Current portion of long-term debt +€10,396
up €10,396 (+20.5%), from €50,665 to €61,062
- Gross operating margin +€38,007
up €38,007 (+19.7%), from €192,880 to €230,887
- Staff costs +€15,286
up €15,286 (+36.4%), from €41,938 to €57,224
- Taxes +€6,158
up €6,158 (+33.7%), from €18,277 to €24,435
- Other operating charges -€2,432
down €2,432 (-65.6%), from €3,705 to €1,274
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €211,078 | €189,664 | -€21,414 | -10.1% |
| Fixed assets | 21/28 | €114,971 | €78,137 | -€36,834 | -32.0% |
| Intangible fixed assets | 21 | €100,000 | €50,000 | -€50,000 | -50.0% |
| Tangible fixed assets | 22/27 | €14,971 | €28,137 | +€13,166 | +87.9% |
| Plant, machinery and equipment | 23 | €11,725 | €25,882 | +€14,157 | +121% |
| Furniture and vehicles | 24 | €3,246 | €2,255 | -€991 | -30.5% |
| Current assets | 29/58 | €96,107 | €111,527 | +€15,420 | +16.0% |
| Amounts receivable within one year | 40/41 | €10,857 | €19,500 | +€8,644 | +79.6% |
| Trade receivables | 40 | €10,857 | €18,111 | +€7,254 | +66.8% |
| Other amounts receivable | 41 | - | €1,389 | +€1,389 | |
| Cash at bank and in hand | 54/58 | €82,778 | €89,830 | +€7,052 | +8.5% |
| Deferred charges and accrued income | 490/1 | €2,473 | €2,197 | -€275 | -11.1% |
| Total equity and liabilities | 10/49 | €211,078 | €189,664 | -€21,414 | -10.1% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €206,078 | €184,664 | -€21,414 | -10.4% |
| Amounts payable after more than one year | 17 | €73,837 | €33,950 | -€39,887 | -54.0% |
| Financial debts | 170/4 | €73,837 | €33,950 | -€39,887 | -54.0% |
| Amounts payable within one year | 42/48 | €132,241 | €150,714 | +€18,473 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €50,665 | €61,062 | +€10,396 | +20.5% |
| Financial debts | 43 | - | €2,101 | +€2,101 | |
| Credit institutions | 430/8 | - | €2,101 | +€2,101 | |
| Trade debts | 44 | €4,983 | €4,736 | -€247 | -5.0% |
| Suppliers | 440/4 | €4,983 | €4,736 | -€247 | -5.0% |
| Taxes, remuneration and social security | 45 | €38,744 | €25,958 | -€12,786 | -33.0% |
| Taxes | 450/3 | €31,821 | €15,913 | -€15,909 | -50.0% |
| Remuneration and social security | 454/9 | €6,922 | €10,045 | +€3,123 | +45.1% |
| Other amounts payable | 47/48 | €37,849 | €56,858 | +€19,009 | +50.2% |
| Remuneration, social security and pensions | 62 | €41,938 | €57,224 | +€15,286 | +36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,103 | €58,009 | -€1,094 | -1.9% |
| Other operating charges | 640/8 | €3,705 | €1,274 | -€2,432 | -65.6% |
| Gross operating margin | 9900 | €192,880 | €230,887 | +€38,007 | +19.7% |
| Operating profit (loss) | 9901 | €88,134 | €114,380 | +€26,246 | +29.8% |
| Financial income | 75/76B | €26 | - | -€26 | |
| Recurring financial income | 75 | €26 | - | -€26 | |
| Financial charges | 65/66B | €5,252 | €4,860 | -€391 | -7.4% |
| Recurring financial charges | 65 | €5,252 | €4,860 | -€391 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €82,908 | €109,519 | +€26,611 | +32.1% |
| Income taxes | 67/77 | €18,277 | €24,435 | +€6,158 | +33.7% |
| Profit (loss) for the period | 9904 | €64,631 | €85,085 | +€20,453 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,631 | €85,085 | +€20,453 | +31.6% |
Next steps
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 2 November 2026 via checked.be.