A-HD: 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.
A-HD
Largest movements
- Cash -€2,783
down €2,783 (-28.7%), from €9,699 to €6,917
mainly Investment in fixed assets (net) (-€2,030) and Other debts (-€1,761)
- Receivables within one year +€239
new in 2025: €239
- Other debts -€1,761
no longer reported in 2025 (was €1,761)
- Profit (loss) carried forward -€1,320
down €1,320, from €370 to -€950
- Trade debts +€277
up €277 (+74.8%), from €370 to €647
- Tax, wage and social debts +€244
up €244 (+30.4%), from €802 to €1,046
- Gross operating margin -€2,384
down €2,384 (-55.8%), from €4,274 to €1,890
- Depreciation -€631
down €631 (-23.6%), from €2,678 to €2,046
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 | €13,304 | €10,743 | -€2,561 | -19.2% |
| Fixed assets | 21/28 | €3,604 | €3,588 | -€16 | -0.5% |
| Tangible fixed assets | 22/27 | €3,604 | €3,588 | -€16 | -0.5% |
| Land and buildings | 22 | - | €1,897 | +€1,897 | |
| Plant, machinery and equipment | 23 | €2,746 | €1,692 | -€1,054 | -38.4% |
| Furniture and vehicles | 24 | €859 | - | -€859 | |
| Current assets | 29/58 | €9,699 | €7,155 | -€2,544 | -26.2% |
| Amounts receivable within one year | 40/41 | - | €239 | +€239 | |
| Other amounts receivable | 41 | - | €239 | +€239 | |
| Cash at bank and in hand | 54/58 | €9,699 | €6,917 | -€2,783 | -28.7% |
| Total equity and liabilities | 10/49 | €13,304 | €10,743 | -€2,561 | -19.2% |
| Equity | 10/15 | €10,370 | €9,050 | -€1,320 | -12.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €370 | -€950 | -€1,320 | |
| Amounts payable | 17/49 | €2,934 | €1,693 | -€1,241 | -42.3% |
| Amounts payable within one year | 42/48 | €2,934 | €1,693 | -€1,241 | -42.3% |
| Trade debts | 44 | €370 | €647 | +€277 | +74.8% |
| Suppliers | 440/4 | €370 | €647 | +€277 | +74.8% |
| Taxes, remuneration and social security | 45 | €802 | €1,046 | +€244 | +30.4% |
| Taxes | 450/3 | €802 | €1,046 | +€244 | +30.4% |
| Other amounts payable | 47/48 | €1,761 | - | -€1,761 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,678 | €2,046 | -€631 | -23.6% |
| Other operating charges | 640/8 | €890 | €916 | +€27 | +3.0% |
| Gross operating margin | 9900 | €4,274 | €1,890 | -€2,384 | -55.8% |
| Operating profit (loss) | 9901 | €707 | -€1,072 | -€1,779 | |
| Financial charges | 65/66B | €234 | €247 | +€13 | +5.5% |
| Recurring financial charges | 65 | €234 | €247 | +€13 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €472 | -€1,320 | -€1,792 | |
| Income taxes | 67/77 | €35 | - | -€35 | |
| Profit (loss) for the period | 9904 | €437 | -€1,320 | -€1,757 | |
| Profit (loss) for the period to be appropriated | 9905 | €437 | -€1,320 | -€1,757 |
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 12 October 2026 via checked.be.