H D ENGINEERING: 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.
H D ENGINEERING
Largest movements
- Tangible fixed assets -€44,100
no longer reported in 2025 (was €44,100)
of which Furniture and vehicles: -€42,500
- Receivables within one year -€32,260
down €32,260 (-62.4%), from €51,718 to €19,459
of which Trade receivables: -€35,000
- Cash -€1,234
down €1,234 (-97.1%), from €1,271 to €37
mainly Net result for the year (-€74,476) and Trade debts (-€3,128)
- Profit (loss) carried forward -€74,476
down €74,476, from €10,294 to -€64,182
- Trade debts -€3,128
no longer reported in 2025 (was €3,128)
- Financial charges -€42,757
down €42,757 (-52.0%), from €82,258 to €39,500
of which Non-recurring financial charges: -€42,678
- Financial income +€18,100
new in 2025: €18,100
of which Financial income: +€18,100
- Gross operating margin +€3,852
up €3,852 (+27.0%), from -€14,274 to -€10,422
- Depreciation +€1,600
new in 2025: €1,600
- Other operating charges -€329
down €329 (-33.4%), from €986 to €657
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 | €97,090 | €19,496 | -€77,594 | -79.9% |
| Fixed assets | 21/28 | €44,100 | - | -€44,100 | |
| Tangible fixed assets | 22/27 | €44,100 | - | -€44,100 | |
| Land and buildings | 22 | €1,600 | - | -€1,600 | |
| Furniture and vehicles | 24 | €42,500 | - | -€42,500 | |
| Current assets | 29/58 | €52,989 | €19,496 | -€33,494 | -63.2% |
| Amounts receivable within one year | 40/41 | €51,718 | €19,459 | -€32,260 | -62.4% |
| Trade receivables | 40 | €35,000 | - | -€35,000 | |
| Other amounts receivable | 41 | €16,718 | €19,459 | +€2,740 | +16.4% |
| Cash at bank and in hand | 54/58 | €1,271 | €37 | -€1,234 | -97.1% |
| Total equity and liabilities | 10/49 | €97,090 | €19,496 | -€77,594 | -79.9% |
| Equity | 10/15 | €93,694 | €19,218 | -€74,476 | -79.5% |
| Contributions | 10/11 | €13,400 | €13,400 | = | 0.0% |
| Reserves | 13 | €70,000 | €70,000 | = | 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 | €68,000 | €68,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,294 | -€64,182 | -€74,476 | |
| Amounts payable | 17/49 | €3,396 | €278 | -€3,118 | -91.8% |
| Amounts payable within one year | 42/48 | €3,396 | €278 | -€3,118 | -91.8% |
| Trade debts | 44 | €3,128 | - | -€3,128 | |
| Suppliers | 440/4 | €3,128 | - | -€3,128 | |
| Taxes, remuneration and social security | 45 | €267 | €278 | +€10 | +3.9% |
| Taxes | 450/3 | €267 | €278 | +€10 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,600 | +€1,600 | |
| Other operating charges | 640/8 | €986 | €657 | -€329 | -33.4% |
| Non-recurring operating charges | 66A | - | €40,287 | +€40,287 | |
| Gross operating margin | 9900 | -€14,274 | -€10,422 | +€3,852 | +27.0% |
| Operating profit (loss) | 9901 | -€15,260 | -€52,967 | -€37,707 | -247.1% |
| Financial income | 75/76B | - | €18,100 | +€18,100 | |
| Recurring financial income | 75 | - | €18,100 | +€18,100 | |
| Non-recurring financial income | 76B | - | €18,100 | +€18,100 | |
| Financial charges | 65/66B | €82,258 | €39,500 | -€42,757 | -52.0% |
| Recurring financial charges | 65 | €134 | €54 | -€80 | -59.7% |
| Non-recurring financial charges | 66B | €82,124 | €39,446 | -€42,678 | -52.0% |
| Profit (loss) for the period before taxes | 9903 | -€97,518 | -€74,367 | +€23,151 | +23.7% |
| Income taxes | 67/77 | - | €109 | +€109 | |
| Profit (loss) for the period | 9904 | -€97,518 | -€74,476 | +€23,042 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€97,518 | -€74,476 | +€23,042 | +23.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.