HSE Consulting: 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.
HSE Consulting
Largest movements
- Cash +€17,608
up €17,608 (+104%), from €16,923 to €34,531
mainly Net result for the year (+€22,443) and Depreciation (+€374)
- Tangible fixed assets +€2,146
new in 2025: €2,146
- Receivables within one year +€1,329
up €1,329 (+27.5%), from €4,835 to €6,164
of which Other amounts receivable: +€1,756
- Reserves +€38,916
new in 2025: €38,916
- Profit (loss) carried forward -€16,472
no longer reported in 2025 (was €16,472)
- Tax, wage and social debts -€1,272
down €1,272 (-45.2%), from €2,812 to €1,539
- Gross operating margin +€8,017
up €8,017 (+38.9%), from €20,628 to €28,645
- Taxes +€1,544
up €1,544 (+37.5%), from €4,118 to €5,662
- Depreciation +€374
new in 2025: €374
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 | €21,784 | €42,955 | +€21,171 | +97.2% |
| Fixed assets | 21/28 | - | €2,146 | +€2,146 | |
| Tangible fixed assets | 22/27 | - | €2,146 | +€2,146 | |
| Furniture and vehicles | 24 | - | €2,146 | +€2,146 | |
| Current assets | 29/58 | €21,784 | €40,810 | +€19,025 | +87.3% |
| Amounts receivable within one year | 40/41 | €4,835 | €6,164 | +€1,329 | +27.5% |
| Trade receivables | 40 | €4,253 | €3,826 | -€427 | -10.0% |
| Other amounts receivable | 41 | €582 | €2,338 | +€1,756 | +302% |
| Cash at bank and in hand | 54/58 | €16,923 | €34,531 | +€17,608 | +104% |
| Deferred charges and accrued income | 490/1 | €26 | €115 | +€88 | +335% |
| Total equity and liabilities | 10/49 | €21,784 | €42,955 | +€21,171 | +97.2% |
| Equity | 10/15 | €18,972 | €41,416 | +€22,443 | +118% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €38,916 | +€38,916 | |
| Distributable reserves | 133 | - | €38,916 | +€38,916 | |
| Profit (loss) carried forward | 14 | €16,472 | - | -€16,472 | |
| Amounts payable | 17/49 | €2,812 | €1,539 | -€1,272 | -45.2% |
| Amounts payable within one year | 42/48 | €2,812 | €1,539 | -€1,272 | -45.2% |
| Trade debts | 44 | - | €0 | = | |
| Suppliers | 440/4 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €2,812 | €1,539 | -€1,272 | -45.2% |
| Taxes | 450/3 | €2,812 | €1,539 | -€1,272 | -45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €374 | +€374 | |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €20,628 | €28,645 | +€8,017 | +38.9% |
| Operating profit (loss) | 9901 | €20,628 | €28,150 | +€7,522 | +36.5% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €40 | €45 | +€5 | +11.9% |
| Recurring financial charges | 65 | €40 | €45 | +€5 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €20,591 | €28,105 | +€7,515 | +36.5% |
| Income taxes | 67/77 | €4,118 | €5,662 | +€1,544 | +37.5% |
| Profit (loss) for the period | 9904 | €16,472 | €22,443 | +€5,971 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,472 | €22,443 | +€5,971 | +36.2% |
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 26 October 2026 via checked.be.