Hamdam: 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.
Hamdam
Largest movements
- Receivables within one year -€145,531
down €145,531 (-30.8%), from €472,352 to €326,821
of which Other amounts receivable: -€97,131
- Cash -€83,906
down €83,906 (-34.8%), from €241,201 to €157,294
mainly Trade debts (-€296,106) and Tax, wage and social debts (-€50,047)
- Trade debts -€296,106
down €296,106 (-99.0%), from €299,203 to €3,097
- Reserves +€116,095
up €116,095 (+25.8%), from €449,235 to €565,331
- Tax, wage and social debts -€50,047
down €50,047 (-34.7%), from €144,044 to €93,997
- Gross operating margin +€13,030
up €13,030 (+9.1%), from €142,629 to €155,659
- Financial income -€8,868
down €8,868 (-44.0%), from €20,167 to €11,299
of which Non-recurring financial income: -€19,139
- Taxes +€7,095
up €7,095 (+23.7%), from €29,944 to €37,039
- Financial charges -€5,023
down €5,023 (-35.6%), from €14,107 to €9,084
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 | €906,076 | €674,718 | -€231,358 | -25.5% |
| Fixed assets | 21/28 | €23,853 | €21,926 | -€1,927 | -8.1% |
| Tangible fixed assets | 22/27 | €5,203 | €3,276 | -€1,927 | -37.0% |
| Plant, machinery and equipment | 23 | €3,036 | €2,704 | -€331 | -10.9% |
| Furniture and vehicles | 24 | €2,167 | €572 | -€1,595 | -73.6% |
| Financial fixed assets | 28 | €18,650 | €18,650 | = | 0.0% |
| Current assets | 29/58 | €882,224 | €652,792 | -€229,432 | -26.0% |
| Amounts receivable within one year | 40/41 | €472,352 | €326,821 | -€145,531 | -30.8% |
| Trade receivables | 40 | €169,446 | €121,046 | -€48,400 | -28.6% |
| Other amounts receivable | 41 | €302,906 | €205,774 | -€97,131 | -32.1% |
| Current investments | 50/53 | €164,942 | €164,280 | -€662 | -0.4% |
| Cash at bank and in hand | 54/58 | €241,201 | €157,294 | -€83,906 | -34.8% |
| Deferred charges and accrued income | 490/1 | €3,729 | €4,398 | +€668 | +17.9% |
| Total equity and liabilities | 10/49 | €906,076 | €674,718 | -€231,358 | -25.5% |
| Equity | 10/15 | €452,235 | €568,331 | +€116,095 | +25.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €449,235 | €565,331 | +€116,095 | +25.8% |
| Distributable reserves | 133 | €449,235 | €565,331 | +€116,095 | +25.8% |
| Amounts payable | 17/49 | €453,841 | €106,387 | -€347,454 | -76.6% |
| Amounts payable within one year | 42/48 | €445,741 | €97,687 | -€348,054 | -78.1% |
| Financial debts | 43 | €2,495 | €594 | -€1,901 | -76.2% |
| Credit institutions | 430/8 | €2,495 | €594 | -€1,901 | -76.2% |
| Trade debts | 44 | €299,203 | €3,097 | -€296,106 | -99.0% |
| Suppliers | 440/4 | €299,203 | €3,097 | -€296,106 | -99.0% |
| Taxes, remuneration and social security | 45 | €144,044 | €93,997 | -€50,047 | -34.7% |
| Taxes | 450/3 | €144,044 | €93,997 | -€50,047 | -34.7% |
| Accrued charges and deferred income | 492/3 | €8,100 | €8,700 | +€600 | +7.4% |
| Non-recurring operating income | 76A | €13,206 | - | -€13,206 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,871 | €1,927 | +€56 | +3.0% |
| Other operating charges | 640/8 | €2,589 | €2,813 | +€224 | +8.7% |
| Gross operating margin | 9900 | €142,629 | €155,659 | +€13,030 | +9.1% |
| Operating profit (loss) | 9901 | €138,170 | €150,919 | +€12,750 | +9.2% |
| Financial income | 75/76B | €20,167 | €11,299 | -€8,868 | -44.0% |
| Recurring financial income | 75 | €1,028 | €11,299 | +€10,271 | +999% |
| Non-recurring financial income | 76B | €19,139 | - | -€19,139 | |
| Financial charges | 65/66B | €14,107 | €9,084 | -€5,023 | -35.6% |
| Recurring financial charges | 65 | €14,107 | €9,084 | -€5,023 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €144,230 | €153,135 | +€8,905 | +6.2% |
| Income taxes | 67/77 | €29,944 | €37,039 | +€7,095 | +23.7% |
| Profit (loss) for the period | 9904 | €114,286 | €116,095 | +€1,810 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,286 | €116,095 | +€1,810 | +1.6% |
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.