H.D.MANAGEMENT & CONSULTANCY: 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.MANAGEMENT & CONSULTANCY
Largest movements
- Cash -€12,482
down €12,482 (-29.4%), from €42,491 to €30,009
mainly Debts after one year (-€16,167) and Investment in fixed assets (net) (-€4,347)
- Tangible fixed assets -€8,611
down €8,611 (-3.6%), from €237,014 to €228,403
of which Land and buildings: -€6,908
- Debts after one year -€16,167
down €16,167 (-9.7%), from €166,031 to €149,864
of which Financial debts: -€15,950
- Reserves -€5,614
down €5,614 (-5.2%), from €107,878 to €102,264
- Gross operating margin +€1,717
up €1,717 (+9.6%), from €17,848 to €19,566
- Depreciation +€1,201
up €1,201 (+10.2%), from €11,758 to €12,958
- Taxes +€615
up €615 (+50.8%), from €1,211 to €1,826
- Other operating charges +€439
up €439 (+26.7%), from €1,643 to €2,082
- Financial charges +€324
up €324 (+7.0%), from €4,605 to €4,929
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 | €303,804 | €281,470 | -€22,334 | -7.4% |
| Fixed assets | 21/28 | €237,014 | €228,403 | -€8,611 | -3.6% |
| Tangible fixed assets | 22/27 | €237,014 | €228,403 | -€8,611 | -3.6% |
| Land and buildings | 22 | €221,992 | €215,084 | -€6,908 | -3.1% |
| Plant, machinery and equipment | 23 | €4,841 | €3,149 | -€1,692 | -34.9% |
| Furniture and vehicles | 24 | €4,982 | €6,846 | +€1,864 | +37.4% |
| Other tangible fixed assets | 26 | €5,200 | €3,325 | -€1,876 | -36.1% |
| Current assets | 29/58 | €66,790 | €53,067 | -€13,723 | -20.5% |
| Stocks and contracts in progress | 3 | €2,142 | €2,796 | +€654 | +30.6% |
| Stocks | 30/36 | €2,142 | €2,796 | +€654 | +30.6% |
| Amounts receivable within one year | 40/41 | €17,492 | €15,422 | -€2,070 | -11.8% |
| Trade receivables | 40 | €11,912 | €10,296 | -€1,617 | -13.6% |
| Other amounts receivable | 41 | €5,580 | €5,127 | -€453 | -8.1% |
| Cash at bank and in hand | 54/58 | €42,491 | €30,009 | -€12,482 | -29.4% |
| Deferred charges and accrued income | 490/1 | €4,666 | €4,840 | +€174 | +3.7% |
| Total equity and liabilities | 10/49 | €303,804 | €281,470 | -€22,334 | -7.4% |
| Equity | 10/15 | €114,078 | €108,464 | -€5,614 | -4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €107,878 | €102,264 | -€5,614 | -5.2% |
| Distributable reserves | 133 | €107,878 | €102,264 | -€5,614 | -5.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €189,727 | €173,007 | -€16,720 | -8.8% |
| Amounts payable after more than one year | 17 | €166,031 | €149,864 | -€16,167 | -9.7% |
| Financial debts | 170/4 | €151,781 | €135,831 | -€15,950 | -10.5% |
| Other amounts payable | 178/9 | €14,250 | €14,033 | -€217 | -1.5% |
| Amounts payable within one year | 42/48 | €23,681 | €23,142 | -€539 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €15,732 | €15,950 | +€218 | +1.4% |
| Trade debts | 44 | €7,688 | €5,215 | -€2,473 | -32.2% |
| Suppliers | 440/4 | €7,688 | €5,215 | -€2,473 | -32.2% |
| Taxes, remuneration and social security | 45 | €261 | €811 | +€550 | +210% |
| Taxes | 450/3 | €261 | €811 | +€550 | +210% |
| Other amounts payable | 47/48 | €0 | €1,166 | +€1,166 | |
| Accrued charges and deferred income | 492/3 | €14 | €0 | -€14 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,758 | €12,958 | +€1,201 | +10.2% |
| Other operating charges | 640/8 | €1,643 | €2,082 | +€439 | +26.7% |
| Gross operating margin | 9900 | €17,848 | €19,566 | +€1,717 | +9.6% |
| Operating profit (loss) | 9901 | €4,448 | €4,525 | +€77 | +1.7% |
| Financial charges | 65/66B | €4,605 | €4,929 | +€324 | +7.0% |
| Recurring financial charges | 65 | €4,605 | €4,929 | +€324 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | -€158 | -€404 | -€246 | -156% |
| Income taxes | 67/77 | €1,211 | €1,826 | +€615 | +50.8% |
| Profit (loss) for the period | 9904 | -€1,368 | -€2,230 | -€861 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,368 | -€2,230 | -€861 | -63.0% |
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 29 October 2026 via checked.be.