H&K's: 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's
Largest movements
- Receivables within one year -€8,361
down €8,361 (-62.5%), from €13,373 to €5,012
of which Trade receivables: -€8,585
- Cash -€2,372
down €2,372 (-23.5%), from €10,109 to €7,737
mainly Net result for the year (-€14,265) and Trade debts (-€5,665)
- Tangible fixed assets -€1,193
down €1,193 (-24.2%), from €4,920 to €3,728
of which Furniture and vehicles: -€1,193
- Stocks and contracts +€866
up €866 (+5.6%), from €15,370 to €16,236
- Deferred charges and accrued income +€833
up €833 (+379%), from €220 to €1,053
- Profit (loss) carried forward -€14,265
down €14,265, from €2,565 to -€11,699
- Other debts +€12,459
up €12,459 (+113%), from €11,000 to €23,459
- Trade debts -€5,665
no longer reported in 2025 (was €5,665)
- Tax, wage and social debts -€2,756
down €2,756 (-23.0%), from €11,962 to €9,206
of which Remuneration and social security: -€3,585
- Gross operating margin -€11,552
down €11,552 (-19.1%), from €60,551 to €48,999
- Staff costs +€4,900
up €4,900 (+9.1%), from €53,727 to €58,627
- Other operating charges -€1,248
down €1,248 (-53.4%), from €2,338 to €1,090
- Depreciation -€1,226
down €1,226 (-50.7%), from €2,418 to €1,193
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 | €43,992 | €33,766 | -€10,226 | -23.2% |
| Fixed assets | 21/28 | €4,920 | €3,728 | -€1,193 | -24.2% |
| Tangible fixed assets | 22/27 | €4,920 | €3,728 | -€1,193 | -24.2% |
| Land and buildings | 22 | €228 | €228 | = | 0.0% |
| Furniture and vehicles | 24 | €4,692 | €3,499 | -€1,193 | -25.4% |
| Current assets | 29/58 | €39,072 | €30,038 | -€9,034 | -23.1% |
| Stocks and contracts in progress | 3 | €15,370 | €16,236 | +€866 | +5.6% |
| Stocks | 30/36 | €15,370 | €16,236 | +€866 | +5.6% |
| Amounts receivable within one year | 40/41 | €13,373 | €5,012 | -€8,361 | -62.5% |
| Trade receivables | 40 | €9,481 | €896 | -€8,585 | -90.5% |
| Other amounts receivable | 41 | €3,892 | €4,116 | +€224 | +5.8% |
| Cash at bank and in hand | 54/58 | €10,109 | €7,737 | -€2,372 | -23.5% |
| Deferred charges and accrued income | 490/1 | €220 | €1,053 | +€833 | +379% |
| Total equity and liabilities | 10/49 | €43,992 | €33,766 | -€10,226 | -23.2% |
| Equity | 10/15 | €15,365 | €1,101 | -€14,265 | -92.8% |
| Contributions | 10/11 | €12,800 | €12,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,565 | -€11,699 | -€14,265 | |
| Amounts payable | 17/49 | €28,627 | €32,665 | +€4,038 | +14.1% |
| Amounts payable within one year | 42/48 | €28,627 | €32,665 | +€4,038 | +14.1% |
| Trade debts | 44 | €5,665 | - | -€5,665 | |
| Suppliers | 440/4 | €5,665 | - | -€5,665 | |
| Taxes, remuneration and social security | 45 | €11,962 | €9,206 | -€2,756 | -23.0% |
| Taxes | 450/3 | €1,842 | €2,672 | +€830 | +45.0% |
| Remuneration and social security | 454/9 | €10,119 | €6,534 | -€3,585 | -35.4% |
| Other amounts payable | 47/48 | €11,000 | €23,459 | +€12,459 | +113% |
| Remuneration, social security and pensions | 62 | €53,727 | €58,627 | +€4,900 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,418 | €1,193 | -€1,226 | -50.7% |
| Other operating charges | 640/8 | €2,338 | €1,090 | -€1,248 | -53.4% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €60,551 | €48,999 | -€11,552 | -19.1% |
| Operating profit (loss) | 9901 | €2,005 | -€11,911 | -€13,915 | |
| Financial income | 75/76B | €8 | €1 | -€7 | -82.0% |
| Recurring financial income | 75 | €8 | €1 | -€7 | -82.0% |
| Financial charges | 65/66B | €1,879 | €2,061 | +€182 | +9.7% |
| Recurring financial charges | 65 | €1,879 | €2,061 | +€182 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €134 | -€13,970 | -€14,104 | |
| Income taxes | 67/77 | - | €295 | +€295 | |
| Profit (loss) for the period | 9904 | €134 | -€14,265 | -€14,399 | |
| Profit (loss) for the period to be appropriated | 9905 | €134 | -€14,265 | -€14,399 |
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 20 October 2026 via checked.be.