TS-HILKENS: 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.
TS-HILKENS
Largest movements
- Stocks and contracts +€21,540
up €21,540 (+135%), from €15,960 to €37,500
- Receivables within one year +€16,874
up €16,874 (+60.6%), from €27,845 to €44,719
of which Trade receivables: +€11,511
- Tangible fixed assets -€4,293
down €4,293 (-12.2%), from €35,289 to €30,996
of which Leasing and similar rights: -€4,395
- Reserves +€31,975
up €31,975 (+119%), from €26,914 to €58,889
- Debts after one year -€8,979
down €8,979 (-83.9%), from €10,706 to €1,727
- Trade debts +€5,078
up €5,078 (+47.9%), from €10,610 to €15,688
- Other debts +€4,678
up €4,678 (+239%), from €1,954 to €6,633
- Short-term financial debts +€3,569
up €3,569 (+60.4%), from €5,907 to €9,475
- Gross operating margin +€36,387
up €36,387 (+161%), from €22,642 to €59,028
- Taxes +€8,942
up €8,942 (+346%), from €2,584 to €11,527
- Financial charges -€1,353
down €1,353 (-26.6%), from €5,092 to €3,739
- Other operating charges +€616
up €616 (+64.3%), from €958 to €1,573
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 | €84,047 | €117,747 | +€33,700 | +40.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €35,289 | €30,996 | -€4,293 | -12.2% |
| Tangible fixed assets | 22/27 | €35,289 | €30,996 | -€4,293 | -12.2% |
| Land and buildings | 22 | €19,319 | €17,118 | -€2,202 | -11.4% |
| Plant, machinery and equipment | 23 | €6,419 | €5,774 | -€645 | -10.0% |
| Furniture and vehicles | 24 | €2,809 | €5,757 | +€2,948 | +105% |
| Leasing and similar rights | 25 | €6,742 | €2,348 | -€4,395 | -65.2% |
| Current assets | 29/58 | €48,758 | €86,751 | +€37,992 | +77.9% |
| Stocks and contracts in progress | 3 | €15,960 | €37,500 | +€21,540 | +135% |
| Stocks | 30/36 | €15,960 | €37,500 | +€21,540 | +135% |
| Amounts receivable within one year | 40/41 | €27,845 | €44,719 | +€16,874 | +60.6% |
| Trade receivables | 40 | €27,676 | €39,187 | +€11,511 | +41.6% |
| Other amounts receivable | 41 | €170 | €5,532 | +€5,363 | +3,164% |
| Cash at bank and in hand | 54/58 | €2,524 | €2,210 | -€314 | -12.4% |
| Deferred charges and accrued income | 490/1 | €2,429 | €2,322 | -€107 | -4.4% |
| Total equity and liabilities | 10/49 | €84,047 | €117,747 | +€33,700 | +40.1% |
| Equity | 10/15 | €29,414 | €61,389 | +€31,975 | +109% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €26,914 | €58,889 | +€31,975 | +119% |
| Distributable reserves | 133 | €26,914 | €58,889 | +€31,975 | +119% |
| Amounts payable | 17/49 | €54,634 | €56,358 | +€1,724 | +3.2% |
| Amounts payable after more than one year | 17 | €10,706 | €1,727 | -€8,979 | -83.9% |
| Financial debts | 170/4 | €10,706 | €1,727 | -€8,979 | -83.9% |
| Amounts payable within one year | 42/48 | €43,927 | €53,838 | +€9,910 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €10,856 | €8,979 | -€1,877 | -17.3% |
| Financial debts | 43 | €5,907 | €9,475 | +€3,569 | +60.4% |
| Credit institutions | 430/8 | €5,907 | €9,475 | +€3,569 | +60.4% |
| Trade debts | 44 | €10,610 | €15,688 | +€5,078 | +47.9% |
| Suppliers | 440/4 | €10,610 | €15,688 | +€5,078 | +47.9% |
| Taxes, remuneration and social security | 45 | €14,599 | €13,062 | -€1,537 | -10.5% |
| Taxes | 450/3 | €11,077 | €9,527 | -€1,550 | -14.0% |
| Remuneration and social security | 454/9 | €3,523 | €3,536 | +€13 | +0.4% |
| Other amounts payable | 47/48 | €1,954 | €6,633 | +€4,678 | +239% |
| Accrued charges and deferred income | 492/3 | - | €793 | +€793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,339 | €10,327 | -€11 | -0.1% |
| Other operating charges | 640/8 | €958 | €1,573 | +€616 | +64.3% |
| Gross operating margin | 9900 | €22,642 | €59,028 | +€36,387 | +161% |
| Operating profit (loss) | 9901 | €11,345 | €47,128 | +€35,783 | +315% |
| Financial income | 75/76B | €39 | €113 | +€75 | +194% |
| Recurring financial income | 75 | €39 | €113 | +€75 | +194% |
| Financial charges | 65/66B | €5,092 | €3,739 | -€1,353 | -26.6% |
| Recurring financial charges | 65 | €5,092 | €3,739 | -€1,353 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €6,291 | €43,502 | +€37,211 | +591% |
| Income taxes | 67/77 | €2,584 | €11,527 | +€8,942 | +346% |
| Profit (loss) for the period | 9904 | €3,707 | €31,975 | +€28,268 | +763% |
| Profit (loss) for the period to be appropriated | 9905 | €3,707 | €31,975 | +€28,268 | +763% |
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 21 October 2026 via checked.be.