H.F. ELECTRONICS: 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.F. ELECTRONICS
Largest movements
- Tangible fixed assets +€30,075
up €30,075 (+911%), from €3,303 to €33,377
of which Plant, machinery and equipment: +€30,431
- Receivables within one year +€22,963
up €22,963 (+18.9%), from €121,447 to €144,410
of which Trade receivables: +€27,247
- Stocks and contracts +€19,276
up €19,276 (+8.3%), from €231,896 to €251,172
- Cash -€11,351
down €11,351 (-3.8%), from €296,061 to €284,710
mainly Contributions, distributions and other (-€80,000) and Investment in fixed assets (net) (-€31,790)
- Other debts +€33,968
up €33,968 (+100%), from €33,968 to €67,936
- Profit (loss) carried forward +€21,949
up €21,949 (+3.9%), from €567,938 to €589,887
- Gross operating margin +€45,887
up €45,887 (+58.3%), from €78,642 to €124,529
- Taxes +€11,481
up €11,481 (+73.0%), from €15,722 to €27,203
- Financial income +€3,808
up €3,808 (+93.7%), from €4,066 to €7,874
- Depreciation -€3,290
down €3,290 (-65.7%), from €5,005 to €1,715
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 | €653,830 | €714,655 | +€60,825 | +9.3% |
| Fixed assets | 21/28 | €3,721 | €33,795 | +€30,075 | +808% |
| Tangible fixed assets | 22/27 | €3,303 | €33,377 | +€30,075 | +911% |
| Plant, machinery and equipment | 23 | €1,683 | €32,114 | +€30,431 | +1,808% |
| Other tangible fixed assets | 26 | €1,619 | €1,263 | -€357 | -22.0% |
| Financial fixed assets | 28 | €418 | €418 | = | 0.0% |
| Current assets | 29/58 | €650,110 | €680,860 | +€30,750 | +4.7% |
| Stocks and contracts in progress | 3 | €231,896 | €251,172 | +€19,276 | +8.3% |
| Stocks | 30/36 | €231,896 | €251,172 | +€19,276 | +8.3% |
| Amounts receivable within one year | 40/41 | €121,447 | €144,410 | +€22,963 | +18.9% |
| Trade receivables | 40 | €117,111 | €144,358 | +€27,247 | +23.3% |
| Other amounts receivable | 41 | €4,336 | €52 | -€4,284 | -98.8% |
| Cash at bank and in hand | 54/58 | €296,061 | €284,710 | -€11,351 | -3.8% |
| Deferred charges and accrued income | 490/1 | €706 | €568 | -€138 | -19.6% |
| Total equity and liabilities | 10/49 | €653,830 | €714,655 | +€60,825 | +9.3% |
| Equity | 10/15 | €595,871 | €617,821 | +€21,949 | +3.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,342 | €9,342 | = | 0.0% |
| Distributable reserves | 133 | €9,342 | €9,342 | = | 0.0% |
| Profit (loss) carried forward | 14 | €567,938 | €589,887 | +€21,949 | +3.9% |
| Amounts payable | 17/49 | €57,959 | €96,835 | +€38,876 | +67.1% |
| Amounts payable within one year | 42/48 | €57,959 | €96,835 | +€38,876 | +67.1% |
| Trade debts | 44 | €5,408 | €6,701 | +€1,293 | +23.9% |
| Suppliers | 440/4 | €5,408 | €6,701 | +€1,293 | +23.9% |
| Taxes, remuneration and social security | 45 | €18,584 | €22,198 | +€3,614 | +19.4% |
| Taxes | 450/3 | €18,584 | €22,198 | +€3,614 | +19.4% |
| Other amounts payable | 47/48 | €33,968 | €67,936 | +€33,968 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,005 | €1,715 | -€3,290 | -65.7% |
| Other operating charges | 640/8 | €693 | €505 | -€188 | -27.1% |
| Gross operating margin | 9900 | €78,642 | €124,529 | +€45,887 | +58.3% |
| Operating profit (loss) | 9901 | €72,944 | €122,308 | +€49,365 | +67.7% |
| Financial income | 75/76B | €4,066 | €7,874 | +€3,808 | +93.7% |
| Recurring financial income | 75 | €4,066 | €7,874 | +€3,808 | +93.7% |
| Financial charges | 65/66B | €948 | €1,030 | +€82 | +8.6% |
| Recurring financial charges | 65 | €948 | €1,030 | +€82 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €76,061 | €129,153 | +€53,091 | +69.8% |
| Income taxes | 67/77 | €15,722 | €27,203 | +€11,481 | +73.0% |
| Profit (loss) for the period | 9904 | €60,339 | €101,949 | +€41,610 | +69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,339 | €101,949 | +€41,610 | +69.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.