HSIM: what changed
HSIM
Largest movements
- Receivables within one year +€422,033
up €422,033 (+148%), from €284,933 to €706,966
- Cash -€222,695
down €222,695 (-70.3%), from €316,907 to €94,213
mainly Receivables within one year (-€422,033) and Contributions, distributions and other (-€33,350)
- Stocks and contracts +€18,916
up €18,916 (+140%), from €13,469 to €32,385
- Tangible fixed assets -€11,743
down €11,743 (-27.4%), from €42,917 to €31,174
of which Plant, machinery and equipment: -€10,543
- Financial fixed assets -€8,850
down €8,850 (-98.9%), from €8,950 to €100
- Profit (loss) carried forward +€133,136
up €133,136 (+61.6%), from €216,109 to €349,245
- Tax, wage and social debts +€91,422
up €91,422 (+31.2%), from €293,197 to €384,619
of which Taxes: +€55,614
- Trade debts -€25,788
down €25,788 (-16.5%), from €156,127 to €130,338
- Gross operating margin +€171,211
up €171,211 (+50.2%), from €340,872 to €512,083
- Taxes +€49,400
up €49,400 (+625%), from €7,899 to €57,298
- Financial charges -€11,172
down €11,172 (-70.9%), from €15,767 to €4,595
- Staff costs +€7,756
up €7,756 (+3.1%), from €253,701 to €261,457
- Other operating charges -€5,205
down €5,205 (-44.9%), from €11,600 to €6,396
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €681,540 | €879,202 | +€197,662 | +29.0% |
| Fixed assets | 21/28 | €51,867 | €31,274 | -€20,593 | -39.7% |
| Tangible fixed assets | 22/27 | €42,917 | €31,174 | -€11,743 | -27.4% |
| Plant, machinery and equipment | 23 | €39,317 | €28,774 | -€10,543 | -26.8% |
| Furniture and vehicles | 24 | €3,600 | €2,400 | -€1,200 | -33.3% |
| Financial fixed assets | 28 | €8,950 | €100 | -€8,850 | -98.9% |
| Current assets | 29/58 | €629,673 | €847,928 | +€218,255 | +34.7% |
| Stocks and contracts in progress | 3 | €13,469 | €32,385 | +€18,916 | +140% |
| Stocks | 30/36 | €13,469 | €32,385 | +€18,916 | +140% |
| Amounts receivable within one year | 40/41 | €284,933 | €706,966 | +€422,033 | +148% |
| Other amounts receivable | 41 | €284,933 | €706,966 | +€422,033 | +148% |
| Cash at bank and in hand | 54/58 | €316,907 | €94,213 | -€222,695 | -70.3% |
| Deferred charges and accrued income | 490/1 | €14,364 | €14,364 | = | 0.0% |
| Total equity and liabilities | 10/49 | €681,540 | €879,202 | +€197,662 | +29.0% |
| Equity | 10/15 | €216,109 | €349,245 | +€133,136 | +61.6% |
| Profit (loss) carried forward | 14 | €216,109 | €349,245 | +€133,136 | +61.6% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €450,432 | €514,957 | +€64,526 | +14.3% |
| Amounts payable within one year | 42/48 | €450,432 | €514,957 | +€64,526 | +14.3% |
| Trade debts | 44 | €156,127 | €130,338 | -€25,788 | -16.5% |
| Suppliers | 440/4 | €156,127 | €130,338 | -€25,788 | -16.5% |
| Taxes, remuneration and social security | 45 | €293,197 | €384,619 | +€91,422 | +31.2% |
| Taxes | 450/3 | €243,886 | €299,501 | +€55,614 | +22.8% |
| Remuneration and social security | 454/9 | €49,310 | €85,118 | +€35,808 | +72.6% |
| Other amounts payable | 47/48 | €1,108 | - | -€1,108 | |
| Remuneration, social security and pensions | 62 | €253,701 | €261,457 | +€7,756 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,377 | €15,893 | +€4,515 | +39.7% |
| Other operating charges | 640/8 | €11,600 | €6,396 | -€5,205 | -44.9% |
| Non-recurring operating charges | 66A | €15,000 | - | -€15,000 | |
| Gross operating margin | 9900 | €340,872 | €512,083 | +€171,211 | +50.2% |
| Operating profit (loss) | 9901 | €49,194 | €228,338 | +€179,144 | +364% |
| Financial income | 75/76B | €1 | €41 | +€40 | +5,740% |
| Recurring financial income | 75 | €1 | €41 | +€40 | +5,740% |
| Financial charges | 65/66B | €15,767 | €4,595 | -€11,172 | -70.9% |
| Recurring financial charges | 65 | €15,767 | €4,595 | -€11,172 | -70.9% |
| Profit (loss) for the period before taxes | 9903 | €33,427 | €223,784 | +€190,357 | +569% |
| Income taxes | 67/77 | €7,899 | €57,298 | +€49,400 | +625% |
| Profit (loss) for the period | 9904 | €25,529 | €166,486 | +€140,957 | +552% |
| Profit (loss) for the period to be appropriated | 9905 | €25,529 | €166,486 | +€140,957 | +552% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.