H M CONSTRUCT: 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 M CONSTRUCT
Largest movements
- Receivables within one year +€10,448
up €10,448 (+835.1%), from €1,251 to €11,699
of which Trade receivables: +€10,770
- Receivables after one year +€2,587
up €2,587 (+17.7%), from €14,598 to €17,185
- Cash -€2,463
down €2,463 (-75.8%), from €3,249 to €785
mainly Receivables within one year (-€10,448) and Receivables after one year (-€2,587)
- Profit (loss) carried forward +€8,988
up €8,988 (+58.1%), from €15,458 to €24,446
- Tax, wage and social debts +€600
up €600 (+42.9%), from €1,400 to €2,000
- Trade debts +€584
up €584 (+1474.6%), from €40 to €624
- Accrued charges and deferred income +€400
new in 2025: €400
- Staff costs -€7,197
down €7,197 (-100.0%), from €7,197 to €0
- Depreciation -€1,089
down €1,089 (-100.0%), from €1,089 to €0
- Taxes +€1,087
up €1,087 (+72.5%), from €1,500 to €2,587
- Gross operating margin +€853
up €853 (+8.0%), from €10,633 to €11,486
- Financial income +€680
new in 2025: €680
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.
Cash bridge derived
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 | €19,098 | €29,670 | +€10,572 | +55.4% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €19,098 | €29,670 | +€10,572 | +55.4% |
| Amounts receivable after more than one year | 29 | €14,598 | €17,185 | +€2,587 | +17.7% |
| Other amounts receivable | 291 | €14,598 | €17,185 | +€2,587 | +17.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,251 | €11,699 | +€10,448 | +835.1% |
| Trade receivables | 40 | - | €10,770 | +€10,770 | |
| Other amounts receivable | 41 | €1,251 | €929 | -€322 | -25.8% |
| Cash at bank and in hand | 54/58 | €3,249 | €785 | -€2,463 | -75.8% |
| Total equity and liabilities | 10/49 | €19,098 | €29,670 | +€10,572 | +55.4% |
| Equity | 10/15 | €17,658 | €26,646 | +€8,988 | +50.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,458 | €24,446 | +€8,988 | +58.1% |
| Amounts payable | 17/49 | €1,440 | €3,023 | +€1,584 | +110.0% |
| Amounts payable within one year | 42/48 | €1,440 | €2,624 | +€1,184 | +82.2% |
| Trade debts | 44 | €40 | €624 | +€584 | +1474.6% |
| Suppliers | 440/4 | €40 | €624 | +€584 | +1474.6% |
| Taxes, remuneration and social security | 45 | €1,400 | €2,000 | +€600 | +42.9% |
| Taxes | 450/3 | €1,400 | €2,000 | +€600 | +42.9% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €7,197 | €0 | -€7,197 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,089 | €0 | -€1,089 | -100.0% |
| Other operating charges | 640/8 | €520 | €421 | -€99 | -19.0% |
| Gross operating margin | 9900 | €10,633 | €11,486 | +€853 | +8.0% |
| Operating profit (loss) | 9901 | €1,827 | €11,065 | +€9,238 | +505.5% |
| Financial income | 75/76B | - | €680 | +€680 | |
| Recurring financial income | 75 | - | €680 | +€680 | |
| Financial charges | 65/66B | €207 | €170 | -€37 | -18.0% |
| Recurring financial charges | 65 | €207 | €170 | -€37 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €1,620 | €11,575 | +€9,955 | +614.4% |
| Income taxes | 67/77 | €1,500 | €2,587 | +€1,087 | +72.5% |
| Profit (loss) for the period | 9904 | €120 | €8,988 | +€8,868 | +7373.3% |
| Profit (loss) for the period to be appropriated | 9905 | €120 | €8,988 | +€8,868 | +7373.3% |
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 9 October 2026 via checked.be.