HSDI: what changed
Two fiscal 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.
HSDI
Largest movements
- Tangible fixed assets -€7,165
down €7,165 (-9.4%), from €76,578 to €69,412
of which Land and buildings: -€6,941
- Cash -€3,259
down €3,259 (-2.5%), from €130,039 to €126,780
mainly Contributions, distributions and other (-€60,815) and Investment in fixed assets (net) (-€10,287)
- Reserves -€49,476
down €49,476 (-54.6%), from €90,629 to €41,154
- Other debts +€46,008
up €46,008 (+199.8%), from €23,021 to €69,029
- Tax, wage and social debts -€5,306
down €5,306 (-52.7%), from €10,076 to €4,770
- Trade debts +€5,182
up €5,182 (+421.9%), from €1,228 to €6,410
- Debts after one year -€4,976
down €4,976 (-11.5%), from €43,128 to €38,152
- Gross operating margin -€5,127
down €5,127 (-13.1%), from €39,228 to €34,101
- Taxes -€2,118
down €2,118 (-31.7%), from €6,689 to €4,571
- Depreciation +€1,809
up €1,809 (+11.6%), from €15,644 to €17,453
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 | €223,946 | €215,191 | -€8,756 | -3.9% |
| Fixed assets | 21/28 | €76,627 | €69,462 | -€7,165 | -9.4% |
| Tangible fixed assets | 22/27 | €76,578 | €69,412 | -€7,165 | -9.4% |
| Land and buildings | 22 | €56,236 | €49,295 | -€6,941 | -12.3% |
| Furniture and vehicles | 24 | €20,342 | €20,117 | -€225 | -1.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €147,319 | €145,729 | -€1,590 | -1.1% |
| Amounts receivable within one year | 40/41 | €15,054 | €16,052 | +€998 | +6.6% |
| Trade receivables | 40 | €15,054 | €12,856 | -€2,197 | -14.6% |
| Other amounts receivable | 41 | - | €3,195 | +€3,195 | |
| Cash at bank and in hand | 54/58 | €130,039 | €126,780 | -€3,259 | -2.5% |
| Deferred charges and accrued income | 490/1 | €2,227 | €2,897 | +€671 | +30.1% |
| Total equity and liabilities | 10/49 | €223,946 | €215,191 | -€8,756 | -3.9% |
| Equity | 10/15 | €141,128 | €91,653 | -€49,476 | -35.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €90,629 | €41,154 | -€49,476 | -54.6% |
| Distributable reserves | 133 | €90,629 | €41,154 | -€49,476 | -54.6% |
| Profit (loss) carried forward | 14 | €38,099 | €38,099 | = | 0.0% |
| Amounts payable | 17/49 | €82,818 | €123,538 | +€40,720 | +49.2% |
| Amounts payable after more than one year | 17 | €43,128 | €38,152 | -€4,976 | -11.5% |
| Financial debts | 170/4 | €43,128 | €38,152 | -€4,976 | -11.5% |
| Amounts payable within one year | 42/48 | €39,641 | €85,185 | +€45,544 | +114.9% |
| Current portion of amounts payable after more than one year | 42 | €5,316 | €4,976 | -€339 | -6.4% |
| Trade debts | 44 | €1,228 | €6,410 | +€5,182 | +421.9% |
| Suppliers | 440/4 | €1,228 | €6,410 | +€5,182 | +421.9% |
| Taxes, remuneration and social security | 45 | €10,076 | €4,770 | -€5,306 | -52.7% |
| Taxes | 450/3 | €10,076 | €4,770 | -€5,306 | -52.7% |
| Other amounts payable | 47/48 | €23,021 | €69,029 | +€46,008 | +199.8% |
| Accrued charges and deferred income | 492/3 | €49 | €201 | +€152 | +312.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,644 | €17,453 | +€1,809 | +11.6% |
| Other operating charges | 640/8 | €403 | €394 | -€9 | -2.3% |
| Gross operating margin | 9900 | €39,228 | €34,101 | -€5,127 | -13.1% |
| Operating profit (loss) | 9901 | €23,182 | €16,255 | -€6,927 | -29.9% |
| Financial income | 75/76B | €620 | €877 | +€257 | +41.4% |
| Recurring financial income | 75 | €620 | €877 | +€257 | +41.4% |
| Financial charges | 65/66B | €1,262 | €1,222 | -€40 | -3.2% |
| Recurring financial charges | 65 | €1,262 | €1,222 | -€40 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €22,540 | €15,910 | -€6,630 | -29.4% |
| Income taxes | 67/77 | €6,689 | €4,571 | -€2,118 | -31.7% |
| Profit (loss) for the period | 9904 | €15,851 | €11,339 | -€4,512 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,851 | €11,339 | -€4,512 | -28.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.