H.D.L.M.: 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.
H.D.L.M.
Largest movements
- Tangible fixed assets +€25,420
up €25,420 (+42.0%), from €60,527 to €85,947
of which Land and buildings: +€25,478
- Cash -€8,276
down €8,276 (-50.4%), from €16,431 to €8,155
mainly Investment in fixed assets (net) (-€35,719) and Debts after one year (-€3,074)
- Other debts +€10,959
new in 2025: €10,959
- Profit (loss) carried forward +€6,636
up €6,636 (+13.0%), from €51,000 to €57,637
- Debts after one year -€3,074
down €3,074 (-29.6%), from €10,384 to €7,310
- Tax, wage and social debts +€2,392
new in 2025: €2,392
- Gross operating margin +€3,408
up €3,408 (+16.9%), from €20,195 to €23,603
- Taxes +€1,317
up €1,317 (+120%), from €1,099 to €2,415
- Depreciation +€867
up €867 (+9.2%), from €9,432 to €10,299
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,942 | €103,493 | +€16,551 | +19.0% |
| Fixed assets | 21/28 | €60,527 | €85,947 | +€25,420 | +42.0% |
| Tangible fixed assets | 22/27 | €60,527 | €85,947 | +€25,420 | +42.0% |
| Land and buildings | 22 | €60,469 | €85,947 | +€25,478 | +42.1% |
| Furniture and vehicles | 24 | €58 | €0 | -€58 | -100% |
| Current assets | 29/58 | €26,415 | €17,546 | -€8,869 | -33.6% |
| Amounts receivable within one year | 40/41 | €7,651 | €6,974 | -€677 | -8.8% |
| Other amounts receivable | 41 | €7,651 | €6,974 | -€677 | -8.8% |
| Cash at bank and in hand | 54/58 | €16,431 | €8,155 | -€8,276 | -50.4% |
| Deferred charges and accrued income | 490/1 | €2,333 | €2,416 | +€84 | +3.6% |
| Total equity and liabilities | 10/49 | €86,942 | €103,493 | +€16,551 | +19.0% |
| Equity | 10/15 | €71,724 | €78,361 | +€6,636 | +9.3% |
| Contributions | 10/11 | €18,840 | €18,840 | = | 0.0% |
| Reserves | 13 | €1,884 | €1,884 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,884 | €1,884 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,884 | €1,884 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,000 | €57,637 | +€6,636 | +13.0% |
| Amounts payable | 17/49 | €15,217 | €25,132 | +€9,915 | +65.2% |
| Amounts payable after more than one year | 17 | €10,384 | €7,310 | -€3,074 | -29.6% |
| Financial debts | 170/4 | €10,384 | €7,310 | -€3,074 | -29.6% |
| Amounts payable within one year | 42/48 | €4,433 | €17,818 | +€13,386 | +302% |
| Current portion of amounts payable after more than one year | 42 | €3,039 | €3,074 | +€35 | +1.2% |
| Trade debts | 44 | €1,394 | €1,394 | = | 0.0% |
| Suppliers | 440/4 | €1,394 | €1,394 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €2,392 | +€2,392 | |
| Taxes | 450/3 | - | €2,392 | +€2,392 | |
| Other amounts payable | 47/48 | - | €10,959 | +€10,959 | |
| Accrued charges and deferred income | 492/3 | €401 | €4 | -€397 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,432 | €10,299 | +€867 | +9.2% |
| Other operating charges | 640/8 | €3,872 | €3,987 | +€116 | +3.0% |
| Gross operating margin | 9900 | €20,195 | €23,603 | +€3,408 | +16.9% |
| Operating profit (loss) | 9901 | €6,891 | €9,317 | +€2,426 | +35.2% |
| Financial income | 75/76B | €69 | €80 | +€12 | +17.0% |
| Recurring financial income | 75 | €69 | €80 | +€12 | +17.0% |
| Financial charges | 65/66B | €370 | €346 | -€24 | -6.6% |
| Recurring financial charges | 65 | €370 | €346 | -€24 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €6,590 | €9,052 | +€2,462 | +37.4% |
| Income taxes | 67/77 | €1,099 | €2,415 | +€1,317 | +120% |
| Profit (loss) for the period | 9904 | €5,491 | €6,636 | +€1,145 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,491 | €6,636 | +€1,145 | +20.9% |
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.