H&D Partners: what changed
H&D Partners
Largest movements
- Receivables within one year -€6,314
down €6,314 (-67.9%), from €9,301 to €2,987
of which Other amounts receivable: -€6,054
- Tangible fixed assets -€1,805
down €1,805 (-20.6%), from €8,771 to €6,966
of which Furniture and vehicles: -€946
- Other debts -€13,674
down €13,674 (-29.4%), from €46,522 to €32,848
- Trade debts +€6,304
up €6,304 (+363%), from €1,738 to €8,042
- Gross operating margin -€8,378
down €8,378 (-21.2%), from €39,604 to €31,226
- Other operating charges -€3,758
down €3,758 (-73.7%), from €5,101 to €1,343
- Taxes -€3,712
down €3,712 (-37.8%), from €9,820 to €6,108
- Financial charges +€397
up €397 (+165%), from €240 to €637
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,652 | €50,990 | -€7,662 | -13.1% |
| Fixed assets | 21/28 | €9,767 | €7,962 | -€1,805 | -18.5% |
| Tangible fixed assets | 22/27 | €8,771 | €6,966 | -€1,805 | -20.6% |
| Land and buildings | 22 | €5,467 | €4,608 | -€859 | -15.7% |
| Furniture and vehicles | 24 | €3,304 | €2,358 | -€946 | -28.6% |
| Financial fixed assets | 28 | €996 | €996 | = | 0.0% |
| Current assets | 29/58 | €48,885 | €43,028 | -€5,857 | -12.0% |
| Amounts receivable within one year | 40/41 | €9,301 | €2,987 | -€6,314 | -67.9% |
| Trade receivables | 40 | €260 | - | -€260 | |
| Other amounts receivable | 41 | €9,041 | €2,987 | -€6,054 | -67.0% |
| Cash at bank and in hand | 54/58 | €39,512 | €40,041 | +€528 | +1.3% |
| Deferred charges and accrued income | 490/1 | €71 | - | -€71 | |
| Total equity and liabilities | 10/49 | €58,652 | €50,990 | -€7,662 | -13.1% |
| Equity | 10/15 | €8,600 | €8,600 | = | 0.0% |
| Contributions | 10/11 | €8,600 | €8,600 | = | 0.0% |
| Amounts payable | 17/49 | €50,052 | €42,390 | -€7,662 | -15.3% |
| Amounts payable within one year | 42/48 | €50,052 | €42,390 | -€7,662 | -15.3% |
| Trade debts | 44 | €1,738 | €8,042 | +€6,304 | +363% |
| Suppliers | 440/4 | €1,738 | €8,042 | +€6,304 | +363% |
| Taxes, remuneration and social security | 45 | €1,793 | €1,500 | -€293 | -16.3% |
| Taxes | 450/3 | €1,793 | €1,500 | -€293 | -16.3% |
| Other amounts payable | 47/48 | €46,522 | €32,848 | -€13,674 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,004 | €1,805 | -€199 | -9.9% |
| Other operating charges | 640/8 | €5,101 | €1,343 | -€3,758 | -73.7% |
| Gross operating margin | 9900 | €39,604 | €31,226 | -€8,378 | -21.2% |
| Operating profit (loss) | 9901 | €32,499 | €28,078 | -€4,421 | -13.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €240 | €637 | +€397 | +165% |
| Recurring financial charges | 65 | €240 | €637 | +€397 | +165% |
| Profit (loss) for the period before taxes | 9903 | €32,259 | €27,441 | -€4,818 | -14.9% |
| Income taxes | 67/77 | €9,820 | €6,108 | -€3,712 | -37.8% |
| Profit (loss) for the period | 9904 | €22,438 | €21,333 | -€1,106 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,438 | €21,333 | -€1,106 | -4.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.