HDR Projects
Annual accounts 2025
abbreviated format, filed on 30-06-2026, 31 days before the deadlineTurnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €67,000. Estimated: probably between €50,000 and €140,000.
Balance sheet
balance sheet total €192,585 on 31-12-2025in euro
in euro
Position in the sector
5.0%
Higher than 18% of 1,142 companies in 2025.
0.43
Higher than 19% of 1,110 companies in 2025.
-0.8%
Higher than 27% of 1,130 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
192,585 | 189,130 | 215,026 | 221,362 | 243,628 | 242,586 | |
21/28 |
171,615 | 176,340 | 194,596 | 207,569 | 228,424 | 225,141 | |
22/27 |
171,615 | 176,340 | 194,596 | 207,569 | 228,424 | 225,141 | |
22 |
152,306 | 157,318 | 162,329 | 167,341 | 172,353 | 177,364 | |
23 |
19,309 | 16,430 | 22,957 | 24,200 | 33,326 | 18,313 | |
24 |
0 | 2,592 | 9,310 | 16,028 | 22,746 | 29,464 | |
29/58 |
20,969 | 12,790 | 20,430 | 13,794 | 15,203 | 17,445 | |
40/41 |
15,898 | 8,453 | 16,179 | 5,748 | 2,876 | 2,186 | |
40 |
12,815 | 8,448 | 15,679 | 5,711 | 2,856 | 2,069 | |
41 |
3,083 | 4 | 500 | 36 | 21 | 117 | |
54/58 |
2,121 | 2,809 | 3,581 | 7,080 | 11,735 | 14,453 | |
490/1 |
2,951 | 1,529 | 670 | 966 | 592 | 806 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
192,585 | 189,130 | 215,026 | 221,362 | 243,628 | 242,586 | |
10/15 |
9,545 | 11,072 | 12,239 | 7,542 | 3,327 | -51 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
11 |
- | - | - | - | - | 10,000 | |
1100/10 |
- | - | - | - | - | 10,000 | |
13 |
1,072 | 1,072 | 2,000 | - | - | - | |
133 |
1,072 | 1,072 | 2,000 | - | - | - | |
14 |
-1,527 | - | 239 | -2,458 | -6,673 | -10,051 | |
17/49 |
183,040 | 178,058 | 202,787 | 213,820 | 240,301 | 242,637 | |
17 |
124,524 | 128,354 | 137,233 | 149,294 | 178,116 | 190,379 | |
170/4 |
124,524 | 128,354 | 137,233 | 149,294 | 178,116 | 190,379 | |
42/48 |
49,215 | 42,691 | 61,827 | 61,556 | 60,512 | 51,441 | |
42 |
12,990 | 8,880 | 17,827 | 28,822 | 28,296 | 20,636 | |
43 |
6 | 14 | 0 | 16 | 8 | - | |
430/8 |
6 | 14 | 0 | 16 | 8 | - | |
44 |
530 | 1,405 | 12,026 | 746 | 831 | 289 | |
440/4 |
530 | 1,405 | 12,026 | 746 | 831 | 289 | |
45 |
1,360 | 1,514 | 1,095 | 1,807 | 1,211 | 350 | |
450/3 |
1,360 | 1,514 | 1,095 | 1,807 | 1,211 | 350 | |
47/48 |
34,329 | 30,879 | 30,879 | 30,166 | 30,166 | 30,166 | |
492/3 |
9,301 | 7,013 | 3,727 | 2,970 | 1,673 | 817 | |
| Income statement | |||||||
9900 |
22,923 | 30,611 | 36,046 | 32,542 | 31,266 | 13,692 | |
630 |
16,439 | 23,425 | 22,448 | 20,856 | 20,077 | 17,719 | |
640/8 |
2,710 | 2,567 | 2,476 | 2,263 | 2,078 | 1,500 | |
9901 |
3,774 | 4,619 | 11,122 | 9,424 | 9,111 | -5,527 | |
65/66B |
5,301 | 5,786 | 5,864 | 5,209 | 5,733 | 4,524 | |
65 |
5,301 | 5,786 | 5,864 | 5,209 | 5,733 | 4,524 | |
9903 |
-1,527 | -1,167 | 5,258 | 4,215 | 3,378 | -10,051 | |
67/77 |
- | 0 | 560 | - | - | - | |
9904 |
-1,527 | -1,167 | 4,698 | 4,215 | 3,378 | -10,051 | |
9905 |
-1,527 | -1,167 | 4,698 | 4,215 | 3,378 | -10,051 | |
| Appropriation of the result | |||||||
9906 |
-1,527 | -928 | 2,239 | -2,458 | -6,673 | -10,051 | |
14P |
- | 239 | -2,458 | -6,673 | -10,051 | - | |
791/2 |
0 | 928 | - | - | - | - | |
691/2 |
- | 0 | 2,000 | - | - | - | |
6921 |
- | 0 | 2,000 | - | - | - | |
| Document | |||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-06-2026 | 2026-00235118 | |
| 31-12-2024 | abbreviated format | 16-06-2025 | 2025-00146903 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00235576 | |
| 31-12-2022 | abbreviated format | 25-08-2023 | 2023-00363186 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20375758 | |
| 31-12-2020 | abbreviated format | 24-11-2021 | 2021-78100265 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 20,213 | 28,043 | 33,570 | 30,280 | 29,188 | 12,192 | ||
| 14,912 | 22,257 | 27,145 | 25,071 | 23,454 | 7,668 | ||
| 11,840 | 5,168 | 9,475 | 0 | 23,360 | 242,860 | ||
| -688 | -773 | -3,499 | -4,655 | -2,718 | - | ||
| -28,245 | -29,901 | -41,396 | -47,763 | -45,308 | -33,996 | ||
| 5.0% | 5.9% | 5.7% | 3.4% | 1.4% | 0.0% | ||
| 0.43 | 0.30 | 0.33 | 0.22 | 0.25 | 0.34 | ||
| 19.18 | 16.08 | 16.57 | 28.35 | 72.23 | - | ||
| -16.0% | -10.5% | 38.4% | 55.9% | 101.5% | - | ||
| -0.8% | -0.6% | 2.2% | 1.9% | 1.4% | -4.1% | ||
| 3.81 | 4.85 | 5.72 | 5.81 | 5.09 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,840 | €5,168 | €9,475 | - | €23,360 |
| €16,439 | €23,425 | €22,448 | €20,856 | €20,077 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on HDR Projects
The operating result for 2025 is 18% lower than in 2024 and the lowest since 2020. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 94.1% to 95.0%. Equity is lower and debt is higher.