HSE Solutions: 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 Solutions
Largest movements
- Tangible fixed assets +€97,269
up €97,269, from €0 to €97,269
of which Furniture and vehicles: +€97,269
- Current investments +€17,073
up €17,073 (+708%), from €2,411 to €19,484
- Receivables within one year +€15,349
up €15,349 (+59.5%), from €25,779 to €41,128
- Cash -€11,590
down €11,590 (-23.4%), from €49,541 to €37,951
mainly Investment in fixed assets (net) (-€118,082) and Contributions, distributions and other (-€82,000)
- Debts after one year +€60,986
new in 2025: €60,986
- Other debts +€29,742
up €29,742 (+97.8%), from €30,420 to €60,162
- Current portion of long-term debt +€28,941
new in 2025: €28,941
- Tax, wage and social debts +€3,738
up €3,738 (+9.9%), from €37,640 to €41,378
- Profit (loss) carried forward -€3,231
down €3,231 (-82.0%), from €3,941 to €710
- Gross operating margin +€82,083
up €82,083 (+162%), from €50,627 to €132,709
- Taxes +€15,366
up €15,366 (+141%), from €10,914 to €26,280
- Depreciation +€12,957
up €12,957 (+165%), from €7,856 to €20,813
- Financial charges +€2,651
up €2,651 (+79.0%), from €3,357 to €6,009
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 | €77,779 | €195,880 | +€118,101 | +152% |
| Fixed assets | 21/28 | €48 | €97,317 | +€97,269 | +202,643% |
| Tangible fixed assets | 22/27 | €0 | €97,269 | +€97,269 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | €97,269 | +€97,269 | |
| Financial fixed assets | 28 | €48 | €48 | = | 0.0% |
| Current assets | 29/58 | €77,731 | €98,563 | +€20,832 | +26.8% |
| Amounts receivable within one year | 40/41 | €25,779 | €41,128 | +€15,349 | +59.5% |
| Trade receivables | 40 | €25,779 | €41,128 | +€15,349 | +59.5% |
| Current investments | 50/53 | €2,411 | €19,484 | +€17,073 | +708% |
| Cash at bank and in hand | 54/58 | €49,541 | €37,951 | -€11,590 | -23.4% |
| Total equity and liabilities | 10/49 | €77,779 | €195,880 | +€118,101 | +152% |
| Equity | 10/15 | €6,941 | €3,710 | -€3,231 | -46.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,941 | €710 | -€3,231 | -82.0% |
| Amounts payable | 17/49 | €70,838 | €192,170 | +€121,332 | +171% |
| Amounts payable after more than one year | 17 | - | €60,986 | +€60,986 | |
| Financial debts | 170/4 | - | €60,986 | +€60,986 | |
| Amounts payable within one year | 42/48 | €70,838 | €130,664 | +€59,826 | +84.5% |
| Current portion of amounts payable after more than one year | 42 | - | €28,941 | +€28,941 | |
| Trade debts | 44 | €2,778 | €184 | -€2,594 | -93.4% |
| Suppliers | 440/4 | €2,778 | €184 | -€2,594 | -93.4% |
| Taxes, remuneration and social security | 45 | €37,640 | €41,378 | +€3,738 | +9.9% |
| Taxes | 450/3 | €37,640 | €41,378 | +€3,738 | +9.9% |
| Other amounts payable | 47/48 | €30,420 | €60,162 | +€29,742 | +97.8% |
| Accrued charges and deferred income | 492/3 | - | €520 | +€520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,856 | €20,813 | +€12,957 | +165% |
| Other operating charges | 640/8 | €332 | €905 | +€572 | +172% |
| Gross operating margin | 9900 | €50,627 | €132,709 | +€82,083 | +162% |
| Operating profit (loss) | 9901 | €42,438 | €110,992 | +€68,553 | +162% |
| Financial income | 75/76B | €46 | €66 | +€20 | +43.2% |
| Recurring financial income | 75 | €46 | €66 | +€20 | +43.2% |
| Financial charges | 65/66B | €3,357 | €6,009 | +€2,651 | +79.0% |
| Recurring financial charges | 65 | €3,357 | €6,009 | +€2,651 | +79.0% |
| Profit (loss) for the period before taxes | 9903 | €39,127 | €105,049 | +€65,922 | +168% |
| Income taxes | 67/77 | €10,914 | €26,280 | +€15,366 | +141% |
| Profit (loss) for the period | 9904 | €28,213 | €78,769 | +€50,556 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €28,213 | €78,769 | +€50,556 | +179% |
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 13 October 2026 via checked.be.