HSBB: 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.
HSBB
Largest movements
- Tangible fixed assets +€459,521
up €459,521 (+134.7%), from €341,033 to €800,553
of which Leasing and similar rights: +€387,099
- Receivables within one year -€395,033
down €395,033 (-47.2%), from €836,628 to €441,595
of which Trade receivables: -€199,721
- Cash +€306,039
up €306,039 (+601.5%), from €50,882 to €356,921
mainly Receivables within one year (+€395,033) and Debts after one year (+€220,511)
- Stocks and contracts -€43,464
down €43,464 (-18.8%), from €231,022 to €187,559
- Trade debts -€337,317
down €337,317 (-74.4%), from €453,218 to €115,902
- Debts after one year +€220,511
up €220,511 (+298.4%), from €73,901 to €294,412
- Other debts +€166,421
up €166,421 (+7061.2%), from €2,357 to €168,778
- Accrued charges and deferred income +€161,905
up €161,905, from €0 to €161,905
- Reserves +€139,161
up €139,161 (+26.6%), from €522,356 to €661,517
of which Distributable reserves: +€139,161
- Staff costs -€156,818
down €156,818 (-17.8%), from €883,294 to €726,475
- Depreciation +€51,804
up €51,804 (+82.9%), from €62,514 to €114,318
- Taxes +€23,090
up €23,090 (+82.2%), from €28,085 to €51,176
- Financial charges +€19,622
up €19,622 (+77.4%), from €25,361 to €44,983
- Other operating charges +€11,068
up €11,068 (+95.2%), from €11,624 to €22,692
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 | €1,545,558 | €1,874,801 | +€329,243 | +21.3% |
| Fixed assets | 21/28 | €401,033 | €860,553 | +€459,521 | +114.6% |
| Tangible fixed assets | 22/27 | €341,033 | €800,553 | +€459,521 | +134.7% |
| Land and buildings | 22 | €193,361 | €175,287 | -€18,074 | -9.3% |
| Plant, machinery and equipment | 23 | €59,999 | €103,344 | +€43,345 | +72.2% |
| Furniture and vehicles | 24 | €42,200 | €89,351 | +€47,151 | +111.7% |
| Leasing and similar rights | 25 | €45,472 | €432,571 | +€387,099 | +851.3% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €1,144,526 | €1,014,248 | -€130,278 | -11.4% |
| Stocks and contracts in progress | 3 | €231,022 | €187,559 | -€43,464 | -18.8% |
| Stocks | 30/36 | €231,022 | €187,559 | -€43,464 | -18.8% |
| Amounts receivable within one year | 40/41 | €836,628 | €441,595 | -€395,033 | -47.2% |
| Trade receivables | 40 | €425,692 | €225,972 | -€199,721 | -46.9% |
| Other amounts receivable | 41 | €410,935 | €215,623 | -€195,313 | -47.5% |
| Cash at bank and in hand | 54/58 | €50,882 | €356,921 | +€306,039 | +601.5% |
| Deferred charges and accrued income | 490/1 | €25,993 | €28,174 | +€2,180 | +8.4% |
| Total equity and liabilities | 10/49 | €1,545,558 | €1,874,801 | +€329,243 | +21.3% |
| Equity | 10/15 | €541,356 | €680,517 | +€139,161 | +25.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €522,356 | €661,517 | +€139,161 | +26.6% |
| Tax-exempt reserves | 132 | €4,700 | €4,700 | = | 0.0% |
| Distributable reserves | 133 | €517,656 | €656,817 | +€139,161 | +26.9% |
| Amounts payable | 17/49 | €1,004,202 | €1,194,284 | +€190,082 | +18.9% |
| Amounts payable after more than one year | 17 | €73,901 | €294,412 | +€220,511 | +298.4% |
| Financial debts | 170/4 | €73,901 | €294,412 | +€220,511 | +298.4% |
| Amounts payable within one year | 42/48 | €930,301 | €737,968 | -€192,334 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €41,238 | €115,042 | +€73,804 | +179.0% |
| Financial debts | 43 | €173,761 | €217,000 | +€43,239 | +24.9% |
| Credit institutions | 430/8 | €173,761 | €217,000 | +€43,239 | +24.9% |
| Trade debts | 44 | €453,218 | €115,902 | -€337,317 | -74.4% |
| Suppliers | 440/4 | €453,218 | €115,902 | -€337,317 | -74.4% |
| Taxes, remuneration and social security | 45 | €259,726 | €121,246 | -€138,481 | -53.3% |
| Taxes | 450/3 | €207,533 | €40,045 | -€167,488 | -80.7% |
| Remuneration and social security | 454/9 | €52,194 | €81,201 | +€29,007 | +55.6% |
| Other amounts payable | 47/48 | €2,357 | €168,778 | +€166,421 | +7061.2% |
| Accrued charges and deferred income | 492/3 | €0 | €161,905 | +€161,905 | |
| Non-recurring operating income | 76A | - | €5,760 | +€5,760 | |
| Remuneration, social security and pensions | 62 | €883,294 | €726,475 | -€156,818 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,514 | €114,318 | +€51,804 | +82.9% |
| Other operating charges | 640/8 | €11,624 | €22,692 | +€11,068 | +95.2% |
| Non-recurring operating charges | 66A | €10,867 | €28 | -€10,839 | -99.7% |
| Gross operating margin | 9900 | €1,087,131 | €1,094,742 | +€7,612 | +0.7% |
| Operating profit (loss) | 9901 | €118,832 | €231,229 | +€112,396 | +94.6% |
| Financial income | 75/76B | €2,921 | €4,090 | +€1,169 | +40.0% |
| Recurring financial income | 75 | €2,921 | €4,090 | +€1,169 | +40.0% |
| Financial charges | 65/66B | €25,361 | €44,983 | +€19,622 | +77.4% |
| Recurring financial charges | 65 | €25,361 | €44,983 | +€19,622 | +77.4% |
| Profit (loss) for the period before taxes | 9903 | €96,393 | €190,337 | +€93,944 | +97.5% |
| Income taxes | 67/77 | €28,085 | €51,176 | +€23,090 | +82.2% |
| Profit (loss) for the period | 9904 | €68,307 | €139,161 | +€70,854 | +103.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,307 | €139,161 | +€70,854 | +103.7% |
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 9 October 2026 via checked.be.