HSH CONSULT: 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 CONSULT
Largest movements
- Cash -€14,017
down €14,017 (-52.7%), from €26,595 to €12,578
mainly Contributions, distributions and other (-€25,677) and Current investments (-€4,103)
- Current investments +€4,103
new in 2025: €4,103
- Reserves -€12,677
down €12,677 (-5.2%), from €241,537 to €228,860
- Other debts +€4,439
up €4,439 (+10.6%), from €42,070 to €46,509
- Taxes +€3,578
up €3,578 (+74.7%), from €4,792 to €8,370
- Depreciation -€1,659
down €1,659 (-57.4%), from €2,889 to €1,230
- Gross operating margin +€1,430
up €1,430 (+7.3%), from €19,507 to €20,938
- Financial charges -€929
down €929 (-66.7%), from €1,393 to €464
- Financial income -€891
down €891 (-15.7%), from €5,691 to €4,800
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 | €372,928 | €363,235 | -€9,693 | -2.6% |
| Fixed assets | 21/28 | €224,584 | €223,354 | -€1,230 | -0.5% |
| Tangible fixed assets | 22/27 | €5,946 | €4,716 | -€1,230 | -20.7% |
| Plant, machinery and equipment | 23 | €5,141 | €4,183 | -€958 | -18.6% |
| Furniture and vehicles | 24 | €806 | €533 | -€272 | -33.8% |
| Financial fixed assets | 28 | €218,638 | €218,638 | = | 0.0% |
| Current assets | 29/58 | €148,344 | €139,881 | -€8,462 | -5.7% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Current investments | 50/53 | - | €4,103 | +€4,103 | |
| Cash at bank and in hand | 54/58 | €26,595 | €12,578 | -€14,017 | -52.7% |
| Deferred charges and accrued income | 490/1 | €1,749 | €3,200 | +€1,451 | +83.0% |
| Total equity and liabilities | 10/49 | €372,928 | €363,235 | -€9,693 | -2.6% |
| Equity | 10/15 | €324,046 | €312,092 | -€11,954 | -3.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €241,537 | €228,860 | -€12,677 | -5.2% |
| Distributable reserves | 133 | €241,537 | €228,860 | -€12,677 | -5.2% |
| Profit (loss) carried forward | 14 | €76,310 | €77,032 | +€722 | +0.9% |
| Amounts payable | 17/49 | €48,882 | €51,143 | +€2,262 | +4.6% |
| Amounts payable within one year | 42/48 | €48,882 | €51,143 | +€2,262 | +4.6% |
| Trade debts | 44 | €1,294 | €1,047 | -€247 | -19.1% |
| Suppliers | 440/4 | €1,294 | €1,047 | -€247 | -19.1% |
| Taxes, remuneration and social security | 45 | €5,518 | €3,588 | -€1,930 | -35.0% |
| Taxes | 450/3 | €5,518 | €3,588 | -€1,930 | -35.0% |
| Other amounts payable | 47/48 | €42,070 | €46,509 | +€4,439 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,889 | €1,230 | -€1,659 | -57.4% |
| Other operating charges | 640/8 | €1,815 | €1,951 | +€136 | +7.5% |
| Gross operating margin | 9900 | €19,507 | €20,938 | +€1,430 | +7.3% |
| Operating profit (loss) | 9901 | €14,803 | €17,756 | +€2,953 | +19.9% |
| Financial income | 75/76B | €5,691 | €4,800 | -€891 | -15.7% |
| Recurring financial income | 75 | €5,691 | €4,800 | -€891 | -15.7% |
| Financial charges | 65/66B | €1,393 | €464 | -€929 | -66.7% |
| Recurring financial charges | 65 | €1,393 | €464 | -€929 | -66.7% |
| Profit (loss) for the period before taxes | 9903 | €19,102 | €22,093 | +€2,991 | +15.7% |
| Income taxes | 67/77 | €4,792 | €8,370 | +€3,578 | +74.7% |
| Profit (loss) for the period | 9904 | €14,310 | €13,722 | -€588 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,310 | €13,722 | -€588 | -4.1% |
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 16 October 2026 via checked.be.