H&K: 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&K
Largest movements
- Tangible fixed assets -€9,530
down €9,530 (-28.2%), from €33,852 to €24,322
of which Furniture and vehicles: -€9,088
- Stocks and contracts +€4,086
up €4,086 (+12.3%), from €33,309 to €37,395
- Receivables within one year +€3,184
up €3,184 (+1,201%), from €265 to €3,449
of which Trade receivables: +€2,763
- Cash +€1,714
up €1,714 (+9.6%), from €17,803 to €19,517
mainly Net result for the year (+€14,789) and Depreciation (+€9,530)
- Deferred charges and accrued income -€1,289
down €1,289 (-89.2%), from €1,444 to €156
- Profit (loss) carried forward +€14,789
up €14,789 (+95.3%), from €15,515 to €30,303
- Debts after one year -€11,794
down €11,794 (-35.5%), from €33,204 to €21,410
- Trade debts -€5,905
down €5,905 (-86.4%), from €6,837 to €932
- Gross operating margin +€14,702
up €14,702 (+120%), from €12,251 to €26,953
- Other operating charges -€1,882
down €1,882 (-68.0%), from €2,768 to €886
- Taxes +€1,013
new in 2025: €1,013
- Depreciation -€736
down €736 (-7.2%), from €10,266 to €9,530
- Financial income +€652
new in 2025: €652
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 | €86,673 | €84,839 | -€1,834 | -2.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €33,852 | €24,322 | -€9,530 | -28.2% |
| Tangible fixed assets | 22/27 | €33,852 | €24,322 | -€9,530 | -28.2% |
| Plant, machinery and equipment | 23 | €1,314 | €873 | -€441 | -33.6% |
| Furniture and vehicles | 24 | €32,538 | €23,449 | -€9,088 | -27.9% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €52,822 | €60,517 | +€7,695 | +14.6% |
| Stocks and contracts in progress | 3 | €33,309 | €37,395 | +€4,086 | +12.3% |
| Stocks | 30/36 | €33,309 | €37,395 | +€4,086 | +12.3% |
| Amounts receivable within one year | 40/41 | €265 | €3,449 | +€3,184 | +1,201% |
| Trade receivables | 40 | €265 | €3,028 | +€2,763 | +1,043% |
| Other amounts receivable | 41 | - | €420 | +€420 | |
| Cash at bank and in hand | 54/58 | €17,803 | €19,517 | +€1,714 | +9.6% |
| Deferred charges and accrued income | 490/1 | €1,444 | €156 | -€1,289 | -89.2% |
| Total equity and liabilities | 10/49 | €86,673 | €84,839 | -€1,834 | -2.1% |
| Equity | 10/15 | €35,975 | €50,763 | +€14,789 | +41.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,515 | €30,303 | +€14,789 | +95.3% |
| Amounts payable | 17/49 | €50,699 | €34,076 | -€16,623 | -32.8% |
| Amounts payable after more than one year | 17 | €33,204 | €21,410 | -€11,794 | -35.5% |
| Financial debts | 170/4 | €33,204 | €21,410 | -€11,794 | -35.5% |
| Amounts payable within one year | 42/48 | €17,495 | €12,665 | -€4,829 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €8,860 | €9,225 | +€366 | +4.1% |
| Trade debts | 44 | €6,837 | €932 | -€5,905 | -86.4% |
| Suppliers | 440/4 | €6,837 | €932 | -€5,905 | -86.4% |
| Taxes, remuneration and social security | 45 | €1,798 | €2,508 | +€710 | +39.5% |
| Taxes | 450/3 | €548 | €1,258 | +€710 | +129% |
| Remuneration and social security | 454/9 | €1,250 | €1,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,266 | €9,530 | -€736 | -7.2% |
| Other operating charges | 640/8 | €2,768 | €886 | -€1,882 | -68.0% |
| Gross operating margin | 9900 | €12,251 | €26,953 | +€14,702 | +120% |
| Operating profit (loss) | 9901 | -€783 | €16,538 | +€17,320 | |
| Financial income | 75/76B | - | €652 | +€652 | |
| Recurring financial income | 75 | - | €652 | +€652 | |
| Financial charges | 65/66B | €1,729 | €1,387 | -€342 | -19.8% |
| Recurring financial charges | 65 | €1,729 | €1,387 | -€342 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,512 | €15,802 | +€18,314 | |
| Income taxes | 67/77 | - | €1,013 | +€1,013 | |
| Profit (loss) for the period | 9904 | -€2,512 | €14,789 | +€17,301 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,512 | €14,789 | +€17,301 |
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 13 October 2026 via checked.be.