H.O. CONSULTING: 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.O. CONSULTING
Largest movements
- Cash +€323,789
up €323,789 (+385%), from €83,999 to €407,788
mainly Current investments (+€300,000) and Other debts (+€25,902)
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Receivables within one year +€35,574
up €35,574 (+290%), from €12,280 to €47,854
of which Trade receivables: +€41,140
- Tangible fixed assets -€9,526
down €9,526 (-40.8%), from €23,345 to €13,819
- Other debts +€25,902
up €25,902 (+27.6%), from €93,809 to €119,711
- Reserves +€16,579
up €16,579 (+11.8%), from €140,862 to €157,440
- Tax, wage and social debts +€6,681
new in 2025: €6,681
- Gross operating margin +€50,820
up €50,820, from -€23,025 to €27,795
- Financial income -€6,202
down €6,202 (-73.3%), from €8,457 to €2,254
- Taxes +€2,360
up €2,360 (+619%), from €381 to €2,741
- Depreciation -€385
down €385 (-3.9%), from €9,911 to €9,526
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 | €424,086 | €473,902 | +€49,815 | +11.7% |
| Fixed assets | 21/28 | €26,095 | €16,569 | -€9,526 | -36.5% |
| Tangible fixed assets | 22/27 | €23,345 | €13,819 | -€9,526 | -40.8% |
| Furniture and vehicles | 24 | €23,345 | €13,819 | -€9,526 | -40.8% |
| Financial fixed assets | 28 | €2,750 | €2,750 | = | 0.0% |
| Current assets | 29/58 | €397,991 | €457,332 | +€59,341 | +14.9% |
| Amounts receivable within one year | 40/41 | €12,280 | €47,854 | +€35,574 | +290% |
| Trade receivables | 40 | - | €41,140 | +€41,140 | |
| Other amounts receivable | 41 | €12,280 | €6,714 | -€5,566 | -45.3% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €83,999 | €407,788 | +€323,789 | +385% |
| Deferred charges and accrued income | 490/1 | €1,712 | €1,690 | -€22 | -1.3% |
| Total equity and liabilities | 10/49 | €424,086 | €473,902 | +€49,815 | +11.7% |
| Equity | 10/15 | €329,340 | €345,918 | +€16,579 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €140,862 | €157,440 | +€16,579 | +11.8% |
| Distributable reserves | 133 | €140,862 | €157,440 | +€16,579 | +11.8% |
| Profit (loss) carried forward | 14 | €169,878 | €169,878 | +€0 | 0.0% |
| Amounts payable | 17/49 | €94,747 | €127,983 | +€33,237 | +35.1% |
| Amounts payable within one year | 42/48 | €94,747 | €127,983 | +€33,237 | +35.1% |
| Trade debts | 44 | €938 | €1,592 | +€654 | +69.7% |
| Suppliers | 440/4 | €938 | €1,592 | +€654 | +69.7% |
| Taxes, remuneration and social security | 45 | - | €6,681 | +€6,681 | |
| Taxes | 450/3 | - | €6,681 | +€6,681 | |
| Other amounts payable | 47/48 | €93,809 | €119,711 | +€25,902 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,911 | €9,526 | -€385 | -3.9% |
| Other operating charges | 640/8 | €1,241 | €1,095 | -€147 | -11.8% |
| Gross operating margin | 9900 | -€23,025 | €27,795 | +€50,820 | |
| Operating profit (loss) | 9901 | -€34,177 | €17,175 | +€51,352 | |
| Financial income | 75/76B | €8,457 | €2,254 | -€6,202 | -73.3% |
| Recurring financial income | 75 | €8,457 | €2,254 | -€6,202 | -73.3% |
| Financial charges | 65/66B | €127 | €109 | -€18 | -14.3% |
| Recurring financial charges | 65 | €127 | €109 | -€18 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,848 | €19,320 | +€45,168 | |
| Income taxes | 67/77 | €381 | €2,741 | +€2,360 | +619% |
| Profit (loss) for the period | 9904 | -€26,229 | €16,579 | +€42,808 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,229 | €16,579 | +€42,808 |
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 29 October 2026 via checked.be.