HSH: 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.
HSH
Largest movements
- Receivables within one year -€98,593
down €98,593 (-22.0%), from €448,529 to €349,936
of which Other amounts receivable: -€185,713
- Other debts -€145,866
down €145,866 (-25.0%), from €583,118 to €437,252
- Reserves +€35,531
up €35,531 (+1.6%), from €2.3m to €2.3m
- Financial income -€488,184
down €488,184 (-99.1%), from €492,387 to €4,203
- Gross operating margin -€35,754
down €35,754 (-44.4%), from €80,469 to €44,715
- Taxes -€8,294
down €8,294 (-40.9%), from €20,262 to €11,968
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,078,256 | €2,968,240 | -€110,016 | -3.6% |
| Fixed assets | 21/28 | €2,615,000 | €2,615,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,615,000 | €2,615,000 | = | 0.0% |
| Current assets | 29/58 | €463,256 | €353,240 | -€110,016 | -23.7% |
| Amounts receivable within one year | 40/41 | €448,529 | €349,936 | -€98,593 | -22.0% |
| Trade receivables | 40 | - | €87,120 | +€87,120 | |
| Other amounts receivable | 41 | €448,529 | €262,816 | -€185,713 | -41.4% |
| Cash at bank and in hand | 54/58 | €14,727 | €3,304 | -€11,423 | -77.6% |
| Total equity and liabilities | 10/49 | €3,078,256 | €2,968,240 | -€110,016 | -3.6% |
| Equity | 10/15 | €2,475,203 | €2,510,734 | +€35,531 | +1.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €2,275,203 | €2,310,734 | +€35,531 | +1.6% |
| Distributable reserves | 133 | €2,275,203 | €2,310,734 | +€35,531 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €603,053 | €457,506 | -€145,547 | -24.1% |
| Amounts payable within one year | 42/48 | €603,053 | €457,506 | -€145,547 | -24.1% |
| Trade debts | 44 | €6,747 | €6,687 | -€60 | -0.9% |
| Suppliers | 440/4 | €6,747 | €6,687 | -€60 | -0.9% |
| Taxes, remuneration and social security | 45 | €13,189 | €13,568 | +€379 | +2.9% |
| Taxes | 450/3 | €9,081 | €9,448 | +€366 | +4.0% |
| Remuneration and social security | 454/9 | €4,107 | €4,120 | +€13 | +0.3% |
| Other amounts payable | 47/48 | €583,118 | €437,252 | -€145,866 | -25.0% |
| Other operating charges | 640/8 | €968 | €1,371 | +€404 | +41.7% |
| Gross operating margin | 9900 | €80,469 | €44,715 | -€35,754 | -44.4% |
| Operating profit (loss) | 9901 | €79,501 | €43,343 | -€36,158 | -45.5% |
| Financial income | 75/76B | €492,387 | €4,203 | -€488,184 | -99.1% |
| Recurring financial income | 75 | €492,387 | €4,203 | -€488,184 | -99.1% |
| Financial charges | 65/66B | €41 | €48 | +€7 | +17.3% |
| Recurring financial charges | 65 | €41 | €48 | +€7 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €571,847 | €47,498 | -€524,349 | -91.7% |
| Income taxes | 67/77 | €20,262 | €11,968 | -€8,294 | -40.9% |
| Profit (loss) for the period | 9904 | €551,585 | €35,531 | -€516,055 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €551,585 | €35,531 | -€516,055 | -93.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.