H.D.K.: 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.
What changed
H.D.K.
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€51,957
2024 · €23,235+€28,722
Equity
€133,442
2024 · €106,486+€26,957
Cash
€2,627
2024 · €4,360-€1,732
Balance sheet total
€413,604
2024 · €422,449-€8,844
Largest movements
Assets
- Receivables after one year -€9,000
down €9,000 (-100%), from €9,000 to €0
Equity and liabilities
- Debts after one year -€35,845
down €35,845 (-15.4%), from €232,310 to €196,465
- Reserves +€26,957
up €26,957 (+26.3%), from €102,486 to €129,442
- Current portion of long-term debt -€15,065
down €15,065 (-35.4%), from €42,533 to €27,467
- Other debts +€12,569
up €12,569 (+176%), from €7,123 to €19,692
- Tax, wage and social debts +€7,997
up €7,997 (+40.4%), from €19,791 to €27,788
Income statement
- Gross operating margin +€36,076
up €36,076 (+49.1%), from €73,506 to €109,582
- Taxes +€9,493
up €9,493 (+110%), from €8,603 to €18,096
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.
Result 2024
€23,235
Gross operating margin
+€36,076
Depreciation
+€805
Other operating charges
+€640
Financial income
+€85
Financial charges
+€608
Taxes
-€9,493
Result 2025
€51,957
raises the resultlowers the result
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.
From operations
+€96,245
Investment
-€22,067
Financing
-€75,910
Cash 2024
€4,360
From operations (derived)
+€96,245
Net result for the year
+€51,957
Depreciation
+€24,254
Receivables after one year
+€9,000
Receivables within one year
-€4,150
Smaller working-capital items
+€32
Trade debts
-€5,414
Tax, wage and social debts
+€7,997
Other debts
+€12,569
Investment (derived)
-€22,067
Investment in fixed assets (net)
-€22,067
Financing
-€75,910
Debts after one year
-€35,845
Current portion of long-term debt
-€15,065
Contributions, distributions and other
-€25,000
Cash 2025
€2,627
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €422,449 | €413,604 | -€8,844 | -2.1% |
| Fixed assets | 21/28 | €396,615 | €394,429 | -€2,186 | -0.6% |
| Tangible fixed assets | 22/27 | €396,615 | €394,429 | -€2,186 | -0.6% |
| Land and buildings | 22 | €351,024 | €352,412 | +€1,388 | +0.4% |
| Plant, machinery and equipment | 23 | €3,021 | €2,307 | -€713 | -23.6% |
| Furniture and vehicles | 24 | €42,571 | €28,341 | -€14,230 | -33.4% |
| Other tangible fixed assets | 26 | - | €11,369 | +€11,369 | |
| Current assets | 29/58 | €25,833 | €19,175 | -€6,658 | -25.8% |
| Amounts receivable after more than one year | 29 | €9,000 | €0 | -€9,000 | -100% |
| Other amounts receivable | 291 | €9,000 | €0 | -€9,000 | -100% |
| Amounts receivable within one year | 40/41 | €10,922 | €15,072 | +€4,150 | +38.0% |
| Trade receivables | 40 | €10,864 | €14,659 | +€3,796 | +34.9% |
| Other amounts receivable | 41 | €58 | €413 | +€354 | +610% |
| Cash at bank and in hand | 54/58 | €4,360 | €2,627 | -€1,732 | -39.7% |
| Deferred charges and accrued income | 490/1 | €1,552 | €1,476 | -€76 | -4.9% |
| Total equity and liabilities | 10/49 | €422,449 | €413,604 | -€8,844 | -2.1% |
| Equity | 10/15 | €106,486 | €133,442 | +€26,957 | +25.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €102,486 | €129,442 | +€26,957 | +26.3% |
| Distributable reserves | 133 | €102,486 | €129,442 | +€26,957 | +26.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €315,963 | €280,162 | -€35,801 | -11.3% |
| Amounts payable after more than one year | 17 | €232,310 | €196,465 | -€35,845 | -15.4% |
| Financial debts | 170/4 | €232,310 | €196,465 | -€35,845 | -15.4% |
| Amounts payable within one year | 42/48 | €83,156 | €83,243 | +€87 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €42,533 | €27,467 | -€15,065 | -35.4% |
| Trade debts | 44 | €13,709 | €8,295 | -€5,414 | -39.5% |
| Suppliers | 440/4 | €13,709 | €8,295 | -€5,414 | -39.5% |
| Taxes, remuneration and social security | 45 | €19,791 | €27,788 | +€7,997 | +40.4% |
| Taxes | 450/3 | €19,791 | €27,788 | +€7,997 | +40.4% |
| Other amounts payable | 47/48 | €7,123 | €19,692 | +€12,569 | +176% |
| Accrued charges and deferred income | 492/3 | €497 | €454 | -€43 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,059 | €24,254 | -€805 | -3.2% |
| Other operating charges | 640/8 | €3,483 | €2,842 | -€640 | -18.4% |
| Gross operating margin | 9900 | €73,506 | €109,582 | +€36,076 | +49.1% |
| Operating profit (loss) | 9901 | €44,964 | €82,486 | +€37,522 | +83.4% |
| Financial income | 75/76B | €218 | €303 | +€85 | +39.0% |
| Recurring financial income | 75 | €218 | €303 | +€85 | +39.0% |
| Financial charges | 65/66B | €13,344 | €12,736 | -€608 | -4.6% |
| Recurring financial charges | 65 | €13,344 | €12,736 | -€608 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €31,838 | €70,053 | +€38,215 | +120% |
| Income taxes | 67/77 | €8,603 | €18,096 | +€9,493 | +110% |
| Profit (loss) for the period | 9904 | €23,235 | €51,957 | +€28,722 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €23,235 | €51,957 | +€28,722 | +124% |
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 20 October 2026 via checked.be.