H.D.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.M.
Largest movements
- Receivables within one year +€8,116
up €8,116 (+18.4%), from €44,121 to €52,237
- Profit (loss) carried forward +€8,666
up €8,666 (+51.7%), from -€16,756 to -€8,090
- Financial income +€2,611
new in 2025: €2,611
- Gross operating margin -€1,908
down €1,908 (-18.1%), from €10,531 to €8,623
- Other operating charges +€470
up €470 (+24.1%), from €1,953 to €2,422
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 | €181,559 | €190,225 | +€8,666 | +4.8% |
| Fixed assets | 21/28 | €75,546 | €75,430 | -€116 | -0.2% |
| Tangible fixed assets | 22/27 | €75,546 | €75,430 | -€116 | -0.2% |
| Land and buildings | 22 | €75,546 | €75,430 | -€116 | -0.2% |
| Current assets | 29/58 | €106,013 | €114,795 | +€8,782 | +8.3% |
| Amounts receivable after more than one year | 29 | €60,781 | €61,389 | +€608 | +1.0% |
| Other amounts receivable | 291 | €60,781 | €61,389 | +€608 | +1.0% |
| Amounts receivable within one year | 40/41 | €44,121 | €52,237 | +€8,116 | +18.4% |
| Other amounts receivable | 41 | €44,121 | €52,237 | +€8,116 | +18.4% |
| Cash at bank and in hand | 54/58 | €161 | €172 | +€12 | +7.2% |
| Deferred charges and accrued income | 490/1 | €950 | €997 | +€47 | +4.9% |
| Total equity and liabilities | 10/49 | €181,559 | €190,225 | +€8,666 | +4.8% |
| Equity | 10/15 | €181,559 | €190,225 | +€8,666 | +4.8% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Contributions outside capital | 11 | €198,315 | €198,315 | = | 0.0% |
| Other | 1109/19 | €198,315 | €198,315 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,756 | -€8,090 | +€8,666 | +51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116 | €116 | = | 0.0% |
| Other operating charges | 640/8 | €1,953 | €2,422 | +€470 | +24.1% |
| Gross operating margin | 9900 | €10,531 | €8,623 | -€1,908 | -18.1% |
| Operating profit (loss) | 9901 | €8,463 | €6,085 | -€2,378 | -28.1% |
| Financial income | 75/76B | - | €2,611 | +€2,611 | |
| Recurring financial income | 75 | - | €2,611 | +€2,611 | |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €8,435 | €8,666 | +€232 | +2.7% |
| Profit (loss) for the period | 9904 | €8,435 | €8,666 | +€232 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,435 | €8,666 | +€232 | +2.7% |
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 15 October 2026 via checked.be.