HSB Medical: 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.
HSB Medical
Largest movements
- Cash +€61,110
up €61,110 (+187%), from €32,733 to €93,843
mainly Net result for the year (+€109,206) and Tax, wage and social debts (+€8,956)
- Deferred charges and accrued income +€36,642
up €36,642 (+3,812%), from €961 to €37,603
- Receivables within one year +€13,704
new in 2025: €13,704
- Tangible fixed assets -€6,189
down €6,189 (-41.9%), from €14,786 to €8,596
of which Furniture and vehicles: -€5,333
- Profit (loss) carried forward +€107,488
up €107,488 (+432%), from €24,853 to €132,341
- Other debts -€11,010
no longer reported in 2025 (was €11,010)
- Tax, wage and social debts +€8,956
up €8,956 (+108%), from €8,264 to €17,220
of which Taxes: +€7,196
- Gross operating margin +€110,262
up €110,262 (+296%), from €37,213 to €147,475
- Taxes +€24,185
up €24,185 (+336%), from €7,190 to €31,375
- Depreciation +€2,407
up €2,407 (+63.6%), from €3,783 to €6,189
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 | €48,479 | €153,746 | +€105,267 | +217% |
| Fixed assets | 21/28 | €14,786 | €8,596 | -€6,189 | -41.9% |
| Tangible fixed assets | 22/27 | €14,786 | €8,596 | -€6,189 | -41.9% |
| Plant, machinery and equipment | 23 | €2,146 | €1,290 | -€856 | -39.9% |
| Furniture and vehicles | 24 | €12,639 | €7,306 | -€5,333 | -42.2% |
| Current assets | 29/58 | €33,694 | €145,150 | +€111,456 | +331% |
| Amounts receivable within one year | 40/41 | - | €13,704 | +€13,704 | |
| Other amounts receivable | 41 | - | €13,704 | +€13,704 | |
| Cash at bank and in hand | 54/58 | €32,733 | €93,843 | +€61,110 | +187% |
| Deferred charges and accrued income | 490/1 | €961 | €37,603 | +€36,642 | +3,812% |
| Total equity and liabilities | 10/49 | €48,479 | €153,746 | +€105,267 | +217% |
| Equity | 10/15 | €27,853 | €135,341 | +€107,488 | +386% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,853 | €132,341 | +€107,488 | +432% |
| Amounts payable | 17/49 | €20,626 | €18,405 | -€2,221 | -10.8% |
| Amounts payable within one year | 42/48 | €20,626 | €18,405 | -€2,221 | -10.8% |
| Trade debts | 44 | €1,353 | €1,186 | -€167 | -12.4% |
| Suppliers | 440/4 | €1,353 | €1,186 | -€167 | -12.4% |
| Taxes, remuneration and social security | 45 | €8,264 | €17,220 | +€8,956 | +108% |
| Taxes | 450/3 | €8,264 | €15,460 | +€7,196 | +87.1% |
| Remuneration and social security | 454/9 | - | €1,760 | +€1,760 | |
| Other amounts payable | 47/48 | €11,010 | - | -€11,010 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,783 | €6,189 | +€2,407 | +63.6% |
| Other operating charges | 640/8 | €387 | €701 | +€314 | +81.0% |
| Gross operating margin | 9900 | €37,213 | €147,475 | +€110,262 | +296% |
| Operating profit (loss) | 9901 | €33,043 | €140,584 | +€107,541 | +325% |
| Financial income | 75/76B | - | €109 | +€109 | |
| Recurring financial income | 75 | - | €109 | +€109 | |
| Financial charges | 65/66B | €0 | €113 | +€112 | +62,400% |
| Recurring financial charges | 65 | €0 | €113 | +€112 | +62,400% |
| Profit (loss) for the period before taxes | 9903 | €33,043 | €140,581 | +€107,538 | +325% |
| Income taxes | 67/77 | €7,190 | €31,375 | +€24,185 | +336% |
| Profit (loss) for the period | 9904 | €25,853 | €109,206 | +€83,353 | +322% |
| Profit (loss) for the period to be appropriated | 9905 | €25,853 | €109,206 | +€83,353 | +322% |
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 22 October 2026 via checked.be.