HSE ENGINEERING: 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 ENGINEERING
Largest movements
- Cash +€28,198
up €28,198 (+79.1%), from €35,640 to €63,838
mainly Net result for the year (+€18,433) and Tax, wage and social debts (+€8,368)
- Receivables within one year -€1,376
down €1,376 (-36.1%), from €3,812 to €2,436
- Reserves +€18,433
up €18,433 (+58.8%), from €31,366 to €49,799
- Tax, wage and social debts +€8,368
up €8,368 (+247%), from €3,382 to €11,750
- Gross operating margin +€17,536
up €17,536 (+184%), from €9,536 to €27,072
- Taxes +€5,703
up €5,703 (+312%), from €1,825 to €7,528
- Depreciation -€1,167
no longer reported in 2025 (was €1,167)
- Other operating charges -€475
down €475 (-32.6%), from €1,458 to €983
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 | €39,919 | €66,745 | +€26,826 | +67.2% |
| Current assets | 29/58 | €39,919 | €66,745 | +€26,826 | +67.2% |
| Amounts receivable within one year | 40/41 | €3,812 | €2,436 | -€1,376 | -36.1% |
| Trade receivables | 40 | €3,812 | €2,436 | -€1,376 | -36.1% |
| Cash at bank and in hand | 54/58 | €35,640 | €63,838 | +€28,198 | +79.1% |
| Deferred charges and accrued income | 490/1 | €467 | €471 | +€4 | +0.9% |
| Total equity and liabilities | 10/49 | €39,919 | €66,745 | +€26,826 | +67.2% |
| Equity | 10/15 | €36,366 | €54,799 | +€18,433 | +50.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €31,366 | €49,799 | +€18,433 | +58.8% |
| Distributable reserves | 133 | €31,366 | €49,799 | +€18,433 | +58.8% |
| Amounts payable | 17/49 | €3,553 | €11,946 | +€8,393 | +236% |
| Amounts payable within one year | 42/48 | €3,553 | €11,946 | +€8,393 | +236% |
| Trade debts | 44 | €18 | €84 | +€66 | +367% |
| Suppliers | 440/4 | €18 | €84 | +€66 | +367% |
| Taxes, remuneration and social security | 45 | €3,382 | €11,750 | +€8,368 | +247% |
| Taxes | 450/3 | €3,382 | €11,750 | +€8,368 | +247% |
| Other amounts payable | 47/48 | €153 | €112 | -€41 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,167 | - | -€1,167 | |
| Other operating charges | 640/8 | €1,458 | €983 | -€475 | -32.6% |
| Gross operating margin | 9900 | €9,536 | €27,072 | +€17,536 | +184% |
| Operating profit (loss) | 9901 | €6,911 | €26,089 | +€19,178 | +277% |
| Financial charges | 65/66B | €144 | €128 | -€16 | -11.1% |
| Recurring financial charges | 65 | €144 | €128 | -€16 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €6,767 | €25,961 | +€19,194 | +284% |
| Income taxes | 67/77 | €1,825 | €7,528 | +€5,703 | +312% |
| Profit (loss) for the period | 9904 | €4,942 | €18,433 | +€13,491 | +273% |
| Profit (loss) for the period to be appropriated | 9905 | €4,942 | €18,433 | +€13,491 | +273% |
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 27 October 2026 via checked.be.