HSB-Group: what changed
What changed
HSB-Group
NACE 46.382, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€145,864
2023 · €286,287-€140,423
Equity
€1.0m
2023 · €987,518+€20,864
Cash
€101,412
2023 · €108,841-€7,429
Balance sheet total
€2.5m
2023 · €2.5m-€59,487
Largest movements
Assets
- Receivables within one year -€339,322
down €339,322 (-33.9%), from €1.0m to €662,348
of which Trade receivables: -€360,072
- Stocks and contracts +€133,413
up €133,413 (+10.5%), from €1.3m to €1.4m
- Tangible fixed assets +€106,502
up €106,502 (+72.4%), from €147,003 to €253,505
of which Other tangible fixed assets: +€58,309
- Receivables after one year +€40,000
new in 2024: €40,000
Equity and liabilities
- Short-term financial debts -€130,008
down €130,008 (-43.3%), from €300,008 to €170,000
of which Credit institutions: -€130,008
- Other debts +€73,000
up €73,000 (+29.0%), from €252,000 to €325,000
Income statement
- Staff costs +€87,991
up €87,991 (+20.6%), from €427,573 to €515,565
- Gross operating margin -€78,831
down €78,831 (-9.1%), from €870,965 to €792,133
- Taxes -€25,564
down €25,564 (-32.8%), from €77,855 to €52,291
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2023
€286,287
Gross operating margin
-€78,831
Staff costs
-€87,991
Depreciation
-€4,410
Other operating charges
+€908
Financial income
+€3,422
Financial charges
+€916
Taxes
+€25,564
Result 2024
€145,864
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€430,278
Investment
-€158,728
Financing
-€278,978
Cash 2023
€108,841
From operations (derived)
+€430,278
Net result for the year
+€145,864
Depreciation
+€56,226
Receivables after one year
-€40,000
Stocks and contracts
-€133,413
Receivables within one year
+€339,322
Deferred charges and accrued income
-€11,349
Smaller working-capital items
+€628
Other debts
+€73,000
Investment (derived)
-€158,728
Investment in fixed assets (net)
-€158,728
Financing
-€278,978
Debts after one year
-€315
Current portion of long-term debt
-€23,655
Short-term financial debts
-€130,008
Contributions, distributions and other
-€125,000
Cash 2024
€101,412
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,528,650 | €2,469,163 | -€59,487 | -2.4% |
| Fixed assets | 21/28 | €151,003 | €253,505 | +€102,502 | +67.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €147,003 | €253,505 | +€106,502 | +72.4% |
| Land and buildings | 22 | €0 | €0 | -€0 | -100% |
| Plant, machinery and equipment | 23 | €23,895 | €20,310 | -€3,584 | -15.0% |
| Furniture and vehicles | 24 | €78,786 | €130,563 | +€51,777 | +65.7% |
| Other tangible fixed assets | 26 | €44,322 | €102,632 | +€58,309 | +132% |
| Financial fixed assets | 28 | €4,000 | €0 | -€4,000 | -100% |
| Current assets | 29/58 | €2,377,647 | €2,215,658 | -€161,989 | -6.8% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Stocks and contracts in progress | 3 | €1,265,142 | €1,398,555 | +€133,413 | +10.5% |
| Stocks | 30/36 | €1,265,142 | €1,398,555 | +€133,413 | +10.5% |
| Amounts receivable within one year | 40/41 | €1,001,670 | €662,348 | -€339,322 | -33.9% |
| Trade receivables | 40 | €893,280 | €533,208 | -€360,072 | -40.3% |
| Other amounts receivable | 41 | €108,390 | €129,139 | +€20,749 | +19.1% |
| Cash at bank and in hand | 54/58 | €108,841 | €101,412 | -€7,429 | -6.8% |
| Deferred charges and accrued income | 490/1 | €1,994 | €13,344 | +€11,349 | +569% |
| Total equity and liabilities | 10/49 | €2,528,650 | €2,469,163 | -€59,487 | -2.4% |
| Equity | 10/15 | €987,518 | €1,008,382 | +€20,864 | +2.1% |
| Contributions | 10/11 | €7,605 | €7,605 | = | 0.0% |
| Reserves | 13 | €979,912 | €1,000,777 | +€20,864 | +2.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €977,912 | €998,777 | +€20,864 | +2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,541,132 | €1,460,781 | -€80,351 | -5.2% |
| Amounts payable after more than one year | 17 | €31,556 | €31,241 | -€315 | -1.0% |
| Financial debts | 170/4 | €31,556 | €31,241 | -€315 | -1.0% |
| Amounts payable within one year | 42/48 | €1,509,577 | €1,429,540 | -€80,036 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €79,034 | €55,379 | -€23,655 | -29.9% |
| Financial debts | 43 | €300,008 | €170,000 | -€130,008 | -43.3% |
| Credit institutions | 430/8 | €300,008 | €170,000 | -€130,008 | -43.3% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €695,654 | €696,344 | +€690 | +0.1% |
| Suppliers | 440/4 | €695,654 | €696,344 | +€690 | +0.1% |
| Taxes, remuneration and social security | 45 | €182,880 | €182,818 | -€62 | 0.0% |
| Taxes | 450/3 | €101,876 | €93,625 | -€8,251 | -8.1% |
| Remuneration and social security | 454/9 | €81,004 | €89,192 | +€8,189 | +10.1% |
| Other amounts payable | 47/48 | €252,000 | €325,000 | +€73,000 | +29.0% |
| Remuneration, social security and pensions | 62 | €427,573 | €515,565 | +€87,991 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,816 | €56,226 | +€4,410 | +8.5% |
| Other operating charges | 640/8 | €13,421 | €12,513 | -€908 | -6.8% |
| Gross operating margin | 9900 | €870,965 | €792,133 | -€78,831 | -9.1% |
| Operating profit (loss) | 9901 | €378,154 | €207,830 | -€170,324 | -45.0% |
| Financial income | 75/76B | €2,874 | €6,295 | +€3,422 | +119% |
| Recurring financial income | 75 | €2,874 | €6,295 | +€3,422 | +119% |
| Financial charges | 65/66B | €16,886 | €15,970 | -€916 | -5.4% |
| Recurring financial charges | 65 | €16,886 | €15,970 | -€916 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €364,142 | €198,155 | -€165,986 | -45.6% |
| Income taxes | 67/77 | €77,855 | €52,291 | -€25,564 | -32.8% |
| Profit (loss) for the period | 9904 | €286,287 | €145,864 | -€140,423 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €286,287 | €145,864 | -€140,423 | -49.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.