HS - TRADING: 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 - TRADING
Largest movements
- Stocks and contracts +€5,250
new in 2026: €5,250
- Receivables within one year -€2,994
down €2,994 (-26.4%), from €11,322 to €8,328
of which Other amounts receivable: -€2,167
- Cash -€968
down €968 (-8.7%), from €11,073 to €10,105
mainly Stocks and contracts (-€5,250) and Investment in fixed assets (net) (-€1,663)
- Tangible fixed assets -€749
down €749 (-4.8%), from €15,529 to €14,780
of which Plant, machinery and equipment: -€586
- Trade debts +€1,181
up €1,181 (+59.6%), from €1,981 to €3,162
- Profit (loss) carried forward -€642
down €642 (-4.6%), from €13,992 to €13,350
- Depreciation -€4,944
down €4,944 (-67.2%), from €7,356 to €2,412
- Taxes +€3,306
up €3,306 (+3,119%), from €106 to €3,412
- Other operating charges -€1,593
down €1,593 (-84.0%), from €1,896 to €303
- Gross operating margin -€723
down €723 (-11.0%), from €6,563 to €5,840
- Financial income -€356
no longer reported in 2026 (was €356)
of which Financial income: -€356
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,924 | €38,463 | +€539 | +1.4% |
| Fixed assets | 21/28 | €15,529 | €14,780 | -€749 | -4.8% |
| Tangible fixed assets | 22/27 | €15,529 | €14,780 | -€749 | -4.8% |
| Land and buildings | 22 | €638 | €475 | -€163 | -25.5% |
| Plant, machinery and equipment | 23 | €14,891 | €14,305 | -€586 | -3.9% |
| Current assets | 29/58 | €22,395 | €23,683 | +€1,288 | +5.8% |
| Stocks and contracts in progress | 3 | - | €5,250 | +€5,250 | |
| Stocks | 30/36 | - | €5,250 | +€5,250 | |
| Amounts receivable within one year | 40/41 | €11,322 | €8,328 | -€2,994 | -26.4% |
| Trade receivables | 40 | €1,648 | €821 | -€827 | -50.2% |
| Other amounts receivable | 41 | €9,674 | €7,507 | -€2,167 | -22.4% |
| Cash at bank and in hand | 54/58 | €11,073 | €10,105 | -€968 | -8.7% |
| Total equity and liabilities | 10/49 | €37,924 | €38,463 | +€539 | +1.4% |
| Equity | 10/15 | €34,443 | €33,801 | -€642 | -1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | €13,992 | €13,350 | -€642 | -4.6% |
| Amounts payable | 17/49 | €3,481 | €4,662 | +€1,181 | +33.9% |
| Amounts payable within one year | 42/48 | €3,481 | €4,662 | +€1,181 | +33.9% |
| Trade debts | 44 | €1,981 | €3,162 | +€1,181 | +59.6% |
| Suppliers | 440/4 | €1,981 | €3,162 | +€1,181 | +59.6% |
| Other amounts payable | 47/48 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,356 | €2,412 | -€4,944 | -67.2% |
| Other operating charges | 640/8 | €1,896 | €303 | -€1,593 | -84.0% |
| Gross operating margin | 9900 | €6,563 | €5,840 | -€723 | -11.0% |
| Operating profit (loss) | 9901 | -€2,689 | €3,125 | +€5,814 | |
| Financial income | 75/76B | €356 | - | -€356 | |
| Recurring financial income | 75 | €356 | - | -€356 | |
| Non-recurring financial income | 76B | €356 | - | -€356 | |
| Financial charges | 65/66B | €348 | €355 | +€7 | +2.0% |
| Recurring financial charges | 65 | €348 | €355 | +€7 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,681 | €2,770 | +€5,451 | |
| Income taxes | 67/77 | €106 | €3,412 | +€3,306 | +3,119% |
| Profit (loss) for the period | 9904 | -€2,787 | -€642 | +€2,145 | +77.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,787 | -€642 | +€2,145 | +77.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.