ETUDE D'HYDROMECANIQUE: what changed
ETUDE D'HYDROMECANIQUE
Largest movements
- Tangible fixed assets +€19,737
up €19,737 (+14.8%), from €132,983 to €152,720
of which Furniture and vehicles: +€25,434
- Cash +€15,316
up €15,316 (+25.5%), from €60,159 to €75,475
mainly Net result for the year (+€32,991) and Depreciation (+€16,699)
- Receivables within one year -€10,202
down €10,202 (-55.8%), from €18,281 to €8,079
of which Trade receivables: -€11,001
- Profit (loss) carried forward +€32,991
up €32,991 (+28.8%), from €114,467 to €147,458
- Trade debts -€4,333
down €4,333 (-37.4%), from €11,601 to €7,268
- Other debts -€3,601
down €3,601 (-21.6%), from €16,699 to €13,098
- Gross operating margin +€16,600
up €16,600 (+31.1%), from €53,391 to €69,991
- Taxes +€7,352
up €7,352 (+73.5%), from €10,000 to €17,352
- Depreciation +€1,419
up €1,419 (+9.3%), from €15,280 to €16,699
- Write-downs +€736
new in 2025: €736
- Other operating charges +€730
up €730 (+45.4%), from €1,608 to €2,338
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,676 | €238,527 | +€24,851 | +11.6% |
| Fixed assets | 21/28 | €133,033 | €152,770 | +€19,737 | +14.8% |
| Tangible fixed assets | 22/27 | €132,983 | €152,720 | +€19,737 | +14.8% |
| Land and buildings | 22 | €97,639 | €93,134 | -€4,505 | -4.6% |
| Plant, machinery and equipment | 23 | €31,639 | €30,447 | -€1,192 | -3.8% |
| Furniture and vehicles | 24 | €3,705 | €29,139 | +€25,434 | +686% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €80,643 | €85,757 | +€5,114 | +6.3% |
| Stocks and contracts in progress | 3 | €2,203 | €2,203 | = | 0.0% |
| Stocks | 30/36 | €2,203 | €2,203 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,281 | €8,079 | -€10,202 | -55.8% |
| Trade receivables | 40 | €16,652 | €5,651 | -€11,001 | -66.1% |
| Other amounts receivable | 41 | €1,629 | €2,428 | +€799 | +49.0% |
| Cash at bank and in hand | 54/58 | €60,159 | €75,475 | +€15,316 | +25.5% |
| Total equity and liabilities | 10/49 | €213,676 | €238,527 | +€24,851 | +11.6% |
| Equity | 10/15 | €182,667 | €215,658 | +€32,991 | +18.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,467 | €147,458 | +€32,991 | +28.8% |
| Amounts payable | 17/49 | €31,009 | €22,869 | -€8,140 | -26.3% |
| Amounts payable within one year | 42/48 | €31,009 | €22,869 | -€8,140 | -26.3% |
| Trade debts | 44 | €11,601 | €7,268 | -€4,333 | -37.4% |
| Suppliers | 440/4 | €11,601 | €7,268 | -€4,333 | -37.4% |
| Taxes, remuneration and social security | 45 | €2,709 | €2,503 | -€206 | -7.6% |
| Taxes | 450/3 | €2,709 | €2,503 | -€206 | -7.6% |
| Other amounts payable | 47/48 | €16,699 | €13,098 | -€3,601 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,280 | €16,699 | +€1,419 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €736 | +€736 | |
| Other operating charges | 640/8 | €1,608 | €2,338 | +€730 | +45.4% |
| Gross operating margin | 9900 | €53,391 | €69,991 | +€16,600 | +31.1% |
| Operating profit (loss) | 9901 | €36,503 | €50,218 | +€13,715 | +37.6% |
| Financial income | 75/76B | - | €163 | +€163 | |
| Recurring financial income | 75 | - | €163 | +€163 | |
| Financial charges | 65/66B | - | €38 | +€38 | |
| Recurring financial charges | 65 | - | €38 | +€38 | |
| Profit (loss) for the period before taxes | 9903 | €36,503 | €50,343 | +€13,840 | +37.9% |
| Income taxes | 67/77 | €10,000 | €17,352 | +€7,352 | +73.5% |
| Profit (loss) for the period | 9904 | €26,503 | €32,991 | +€6,488 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,503 | €32,991 | +€6,488 | +24.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.