HS SOUDURE: 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 SOUDURE
Largest movements
- Receivables within one year -€61,996
down €61,996 (-38.9%), from €159,285 to €97,289
of which Trade receivables: -€66,730
- Cash +€33,266
up €33,266 (+13.4%), from €247,994 to €281,260
mainly Depreciation (+€71,650) and Receivables within one year (+€61,996)
- Tangible fixed assets -€19,274
down €19,274 (-15.9%), from €120,983 to €101,709
of which Furniture and vehicles: -€32,502
- Deferred charges and accrued income +€15,414
up €15,414 (+698%), from €2,209 to €17,623
- Intangible fixed assets -€7,628
down €7,628 (-51.6%), from €14,788 to €7,160
- Other debts +€48,918
up €48,918 (+32.9%), from €148,859 to €197,777
- Debts after one year -€45,413
down €45,413 (-48.1%), from €94,335 to €48,922
- Reserves -€24,858
down €24,858 (-13.1%), from €190,000 to €165,142
- Tax, wage and social debts -€14,983
down €14,983 (-64.3%), from €23,305 to €8,322
of which Taxes: -€16,144
- Current portion of long-term debt -€7,319
down €7,319 (-14.1%), from €51,893 to €44,574
- Staff costs +€24,880
up €24,880 (+90.4%), from €27,520 to €52,399
- Gross operating margin -€18,552
down €18,552 (-7.9%), from €235,354 to €216,802
- Depreciation -€12,678
down €12,678 (-15.0%), from €84,328 to €71,650
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 | €545,434 | €505,216 | -€40,218 | -7.4% |
| Fixed assets | 21/28 | €135,945 | €109,044 | -€26,901 | -19.8% |
| Intangible fixed assets | 21 | €14,788 | €7,160 | -€7,628 | -51.6% |
| Tangible fixed assets | 22/27 | €120,983 | €101,709 | -€19,274 | -15.9% |
| Land and buildings | 22 | €122 | €13,023 | +€12,900 | +10,533% |
| Plant, machinery and equipment | 23 | €32,638 | €35,487 | +€2,849 | +8.7% |
| Furniture and vehicles | 24 | €85,701 | €53,199 | -€32,502 | -37.9% |
| Leasing and similar rights | 25 | €2,520 | - | -€2,520 | |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €409,488 | €396,172 | -€13,316 | -3.3% |
| Amounts receivable within one year | 40/41 | €159,285 | €97,289 | -€61,996 | -38.9% |
| Trade receivables | 40 | €156,730 | €90,000 | -€66,730 | -42.6% |
| Other amounts receivable | 41 | €2,555 | €7,289 | +€4,734 | +185% |
| Cash at bank and in hand | 54/58 | €247,994 | €281,260 | +€33,266 | +13.4% |
| Deferred charges and accrued income | 490/1 | €2,209 | €17,623 | +€15,414 | +698% |
| Total equity and liabilities | 10/49 | €545,434 | €505,216 | -€40,218 | -7.4% |
| Equity | 10/15 | €204,086 | €179,228 | -€24,858 | -12.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €190,000 | €165,142 | -€24,858 | -13.1% |
| Distributable reserves | 133 | €190,000 | €165,142 | -€24,858 | -13.1% |
| Profit (loss) carried forward | 14 | €4,086 | €4,086 | = | 0.0% |
| Amounts payable | 17/49 | €341,348 | €325,988 | -€15,359 | -4.5% |
| Amounts payable after more than one year | 17 | €94,335 | €48,922 | -€45,413 | -48.1% |
| Financial debts | 170/4 | €94,335 | €48,922 | -€45,413 | -48.1% |
| Amounts payable within one year | 42/48 | €240,296 | €267,627 | +€27,331 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €51,893 | €44,574 | -€7,319 | -14.1% |
| Trade debts | 44 | €16,240 | €16,955 | +€715 | +4.4% |
| Suppliers | 440/4 | €16,240 | €16,955 | +€715 | +4.4% |
| Taxes, remuneration and social security | 45 | €23,305 | €8,322 | -€14,983 | -64.3% |
| Taxes | 450/3 | €16,957 | €813 | -€16,144 | -95.2% |
| Remuneration and social security | 454/9 | €6,348 | €7,508 | +€1,161 | +18.3% |
| Other amounts payable | 47/48 | €148,859 | €197,777 | +€48,918 | +32.9% |
| Accrued charges and deferred income | 492/3 | €6,717 | €9,439 | +€2,722 | +40.5% |
| Remuneration, social security and pensions | 62 | €27,520 | €52,399 | +€24,880 | +90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,328 | €71,650 | -€12,678 | -15.0% |
| Other operating charges | 640/8 | €1,404 | €1,626 | +€221 | +15.8% |
| Gross operating margin | 9900 | €235,354 | €216,802 | -€18,552 | -7.9% |
| Operating profit (loss) | 9901 | €122,101 | €91,127 | -€30,974 | -25.4% |
| Financial income | 75/76B | €3,643 | €5,717 | +€2,074 | +56.9% |
| Recurring financial income | 75 | €3,643 | €5,717 | +€2,074 | +56.9% |
| Financial charges | 65/66B | €12,801 | €13,988 | +€1,187 | +9.3% |
| Recurring financial charges | 65 | €12,801 | €13,988 | +€1,187 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €112,944 | €82,857 | -€30,088 | -26.6% |
| Income taxes | 67/77 | €29,430 | €27,715 | -€1,715 | -5.8% |
| Profit (loss) for the period | 9904 | €83,514 | €55,142 | -€28,373 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,514 | €55,142 | -€28,373 | -34.0% |
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 14 October 2026 via checked.be.