HYDROSEB: what changed
Two fiscal 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.
HYDROSEB
Largest movements
- Receivables within one year +€255,709
up €255,709 (+35.4%), from €722,630 to €978,338
of which Trade receivables: +€216,678
- Stocks and contracts -€152,380
down €152,380 (-47.1%), from €323,390 to €171,010
- Cash -€74,929
down €74,929 (-62.1%), from €120,754 to €45,825
mainly Receivables within one year (-€255,709) and Trade debts (-€84,308)
- Tangible fixed assets -€52,431
down €52,431 (-12.0%), from €435,450 to €383,019
of which Land and buildings: -€30,986
- Trade debts -€84,308
down €84,308 (-13.9%), from €606,972 to €522,664
- Tax, wage and social debts +€81,573
up €81,573 (+83.3%), from €97,910 to €179,483
of which Taxes: +€62,123
- Debts after one year -€47,401
down €47,401 (-55.2%), from €85,945 to €38,543
- Accrued charges and deferred income +€23,760
up €23,760 (+1678.5%), from €1,416 to €25,176
- Gross operating margin +€51,533
up €51,533 (+6.6%), from €783,036 to €834,569
- Other operating charges +€27,105
up €27,105 (+334.0%), from €8,115 to €35,220
- Write-downs +€17,553
new in 2025: €17,553
- Depreciation -€12,954
down €12,954 (-10.4%), from €124,347 to €111,393
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.
Cash bridge derived
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 | €2,088,969 | €2,058,768 | -€30,201 | -1.4% |
| Fixed assets | 21/28 | €436,026 | €383,595 | -€52,431 | -12.0% |
| Tangible fixed assets | 22/27 | €435,450 | €383,019 | -€52,431 | -12.0% |
| Land and buildings | 22 | €222,605 | €191,619 | -€30,986 | -13.9% |
| Plant, machinery and equipment | 23 | €164,586 | €154,202 | -€10,385 | -6.3% |
| Furniture and vehicles | 24 | €6,805 | €8,273 | +€1,469 | +21.6% |
| Leasing and similar rights | 25 | €41,453 | €28,925 | -€12,529 | -30.2% |
| Financial fixed assets | 28 | €576 | €576 | = | 0.0% |
| Current assets | 29/58 | €1,652,943 | €1,675,173 | +€22,230 | +1.3% |
| Amounts receivable after more than one year | 29 | €480,000 | €480,000 | = | 0.0% |
| Other amounts receivable | 291 | €480,000 | €480,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €323,390 | €171,010 | -€152,380 | -47.1% |
| Stocks | 30/36 | €323,390 | €171,010 | -€152,380 | -47.1% |
| Amounts receivable within one year | 40/41 | €722,630 | €978,338 | +€255,709 | +35.4% |
| Trade receivables | 40 | €653,124 | €869,802 | +€216,678 | +33.2% |
| Other amounts receivable | 41 | €69,506 | €108,537 | +€39,031 | +56.2% |
| Cash at bank and in hand | 54/58 | €120,754 | €45,825 | -€74,929 | -62.1% |
| Deferred charges and accrued income | 490/1 | €6,170 | - | -€6,170 | |
| Total equity and liabilities | 10/49 | €2,088,969 | €2,058,768 | -€30,201 | -1.4% |
| Equity | 10/15 | €1,107,225 | €1,118,910 | +€11,685 | +1.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €573,500 | €573,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €571,500 | €571,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €501,354 | €515,051 | +€13,697 | +2.7% |
| Investment grants | 15 | €12,370 | €10,359 | -€2,012 | -16.3% |
| Amounts payable | 17/49 | €981,744 | €939,858 | -€41,886 | -4.3% |
| Amounts payable after more than one year | 17 | €85,945 | €38,543 | -€47,401 | -55.2% |
| Financial debts | 170/4 | €85,945 | €38,543 | -€47,401 | -55.2% |
| Amounts payable within one year | 42/48 | €894,384 | €876,139 | -€18,245 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €62,925 | €47,401 | -€15,524 | -24.7% |
| Financial debts | 43 | €126,577 | €125,000 | -€1,577 | -1.2% |
| Credit institutions | 430/8 | €126,577 | €125,000 | -€1,577 | -1.2% |
| Trade debts | 44 | €606,972 | €522,664 | -€84,308 | -13.9% |
| Suppliers | 440/4 | €606,972 | €522,664 | -€84,308 | -13.9% |
| Taxes, remuneration and social security | 45 | €97,910 | €179,483 | +€81,573 | +83.3% |
| Taxes | 450/3 | €24,487 | €86,610 | +€62,123 | +253.7% |
| Remuneration and social security | 454/9 | €73,423 | €92,873 | +€19,450 | +26.5% |
| Other amounts payable | 47/48 | - | €1,591 | +€1,591 | |
| Accrued charges and deferred income | 492/3 | €1,416 | €25,176 | +€23,760 | +1678.5% |
| Non-recurring operating income | 76A | €417 | €413 | -€4 | -0.9% |
| Remuneration, social security and pensions | 62 | €626,126 | €624,741 | -€1,385 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,347 | €111,393 | -€12,954 | -10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,553 | +€17,553 | |
| Other operating charges | 640/8 | €8,115 | €35,220 | +€27,105 | +334.0% |
| Gross operating margin | 9900 | €783,036 | €834,569 | +€51,533 | +6.6% |
| Operating profit (loss) | 9901 | €24,449 | €45,662 | +€21,213 | +86.8% |
| Financial income | 75/76B | €13,360 | €14,451 | +€1,091 | +8.2% |
| Recurring financial income | 75 | €13,360 | €14,451 | +€1,091 | +8.2% |
| Financial charges | 65/66B | €30,114 | €34,846 | +€4,732 | +15.7% |
| Recurring financial charges | 65 | €30,114 | €34,846 | +€4,732 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €7,694 | €25,267 | +€17,573 | +228.4% |
| Income taxes | 67/77 | €6,783 | €11,570 | +€4,787 | +70.6% |
| Profit (loss) for the period | 9904 | €911 | €13,697 | +€12,786 | +1403.8% |
| Profit (loss) for the period to be appropriated | 9905 | €911 | €13,697 | +€12,786 | +1403.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.