HS Promotion: 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.
HS Promotion
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+47.7%), from €3.8m to €5.6m
- Other debts +€2.0m
up €2.0m (+99.0%), from €2.0m to €4.1m
- Profit (loss) carried forward -€284,611
down €284,611 (-230.5%), from -€123,472 to -€408,083
- Accrued charges and deferred income +€89,753
up €89,753 (+127.8%), from €70,250 to €160,003
- Financial charges +€157,417
up €157,417 (+133.9%), from €117,558 to €274,975
- Gross operating margin -€3,958
down €3,958 (-78.3%), from -€5,053 to -€9,011
- Other operating charges -€236
down €236 (-27.5%), from €861 to €625
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 | €3,793,458 | €5,616,415 | +€1.8m | +48.1% |
| Fixed assets | 21/28 | €3,791,795 | €5,599,988 | +€1.8m | +47.7% |
| Tangible fixed assets | 22/27 | €3,791,795 | €5,599,988 | +€1.8m | +47.7% |
| Assets under construction and advance payments | 27 | €3,791,795 | €5,599,988 | +€1.8m | +47.7% |
| Current assets | 29/58 | €1,663 | €16,427 | +€14,764 | +887.8% |
| Amounts receivable within one year | 40/41 | €998 | €2,746 | +€1,749 | +175.3% |
| Other amounts receivable | 41 | €998 | €2,746 | +€1,749 | +175.3% |
| Cash at bank and in hand | 54/58 | €665 | €13,680 | +€13,015 | +1956.2% |
| Total equity and liabilities | 10/49 | €3,793,458 | €5,616,415 | +€1.8m | +48.1% |
| Equity | 10/15 | -€121,472 | -€406,083 | -€284,611 | -234.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€123,472 | -€408,083 | -€284,611 | -230.5% |
| Amounts payable | 17/49 | €3,914,930 | €6,022,498 | +€2.1m | +53.8% |
| Amounts payable after more than one year | 17 | €1,800,000 | €1,800,000 | = | 0.0% |
| Financial debts | 170/4 | €1,800,000 | €1,800,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,044,680 | €4,062,494 | +€2.0m | +98.7% |
| Trade debts | 44 | €4,447 | €2,069 | -€2,378 | -53.5% |
| Suppliers | 440/4 | €4,447 | €2,069 | -€2,378 | -53.5% |
| Other amounts payable | 47/48 | €2,040,234 | €4,060,425 | +€2.0m | +99.0% |
| Accrued charges and deferred income | 492/3 | €70,250 | €160,003 | +€89,753 | +127.8% |
| Other operating charges | 640/8 | €861 | €625 | -€236 | -27.5% |
| Gross operating margin | 9900 | -€5,053 | -€9,011 | -€3,958 | -78.3% |
| Operating profit (loss) | 9901 | -€5,914 | -€9,636 | -€3,722 | -62.9% |
| Financial charges | 65/66B | €117,558 | €274,975 | +€157,417 | +133.9% |
| Recurring financial charges | 65 | €117,558 | €274,975 | +€157,417 | +133.9% |
| Profit (loss) for the period before taxes | 9903 | -€123,472 | -€284,611 | -€161,138 | -130.5% |
| Profit (loss) for the period | 9904 | -€123,472 | -€284,611 | -€161,138 | -130.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€123,472 | -€284,611 | -€161,138 | -130.5% |
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 12 October 2026 via checked.be.