HAMRO: 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.
HAMRO
Largest movements
- Tangible fixed assets +€29,506
up €29,506 (+91.4%), from €32,267 to €61,773
of which Furniture and vehicles: +€26,818
- Receivables within one year -€12,185
down €12,185 (-8.0%), from €153,064 to €140,879
of which Trade receivables: -€17,302
- Tax, wage and social debts +€29,283
new in 2025: €29,283
of which Taxes: +€23,009
- Profit (loss) carried forward -€11,417
down €11,417 (-7.3%), from €156,675 to €145,258
- Gross operating margin -€42,258
down €42,258 (-28.4%), from €148,561 to €106,303
- Staff costs +€25,191
up €25,191 (+24.2%), from €103,977 to €129,168
- Taxes -€21,635
no longer reported in 2025 (was €21,635)
- Depreciation -€9,114
no longer reported in 2025 (was €9,114)
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,619 | €202,932 | +€17,313 | +9.3% |
| Fixed assets | 21/28 | €32,269 | €61,775 | +€29,506 | +91.4% |
| Tangible fixed assets | 22/27 | €32,267 | €61,773 | +€29,506 | +91.4% |
| Land and buildings | 22 | €1,250 | €1,250 | = | 0.0% |
| Plant, machinery and equipment | 23 | €14,696 | €17,384 | +€2,688 | +18.3% |
| Furniture and vehicles | 24 | €16,321 | €43,139 | +€26,818 | +164.3% |
| Financial fixed assets | 28 | €2 | €2 | = | 0.0% |
| Current assets | 29/58 | €153,350 | €141,157 | -€12,193 | -8.0% |
| Amounts receivable within one year | 40/41 | €153,064 | €140,879 | -€12,185 | -8.0% |
| Trade receivables | 40 | €130,459 | €113,157 | -€17,302 | -13.3% |
| Other amounts receivable | 41 | €22,605 | €27,722 | +€5,117 | +22.6% |
| Cash at bank and in hand | 54/58 | €286 | €278 | -€8 | -2.8% |
| Total equity and liabilities | 10/49 | €185,619 | €202,932 | +€17,313 | +9.3% |
| Equity | 10/15 | €175,275 | €163,858 | -€11,417 | -6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,675 | €145,258 | -€11,417 | -7.3% |
| Amounts payable | 17/49 | €10,344 | €39,074 | +€28,730 | +277.7% |
| Amounts payable within one year | 42/48 | €10,344 | €39,074 | +€28,730 | +277.7% |
| Trade debts | 44 | €10,344 | €9,791 | -€553 | -5.3% |
| Suppliers | 440/4 | €10,344 | €9,791 | -€553 | -5.3% |
| Taxes, remuneration and social security | 45 | - | €29,283 | +€29,283 | |
| Taxes | 450/3 | - | €23,009 | +€23,009 | |
| Remuneration and social security | 454/9 | - | €6,274 | +€6,274 | |
| Remuneration, social security and pensions | 62 | €103,977 | €129,168 | +€25,191 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,114 | - | -€9,114 | |
| Other operating charges | 640/8 | €1,318 | €1,497 | +€179 | +13.6% |
| Gross operating margin | 9900 | €148,561 | €106,303 | -€42,258 | -28.4% |
| Operating profit (loss) | 9901 | €34,152 | -€24,362 | -€58,514 | |
| Financial charges | 65/66B | €788 | €1,019 | +€231 | +29.3% |
| Recurring financial charges | 65 | €788 | €1,019 | +€231 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €33,364 | -€25,381 | -€58,745 | |
| Income taxes | 67/77 | €21,635 | - | -€21,635 | |
| Profit (loss) for the period | 9904 | €11,729 | -€25,381 | -€37,110 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,729 | -€25,381 | -€37,110 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.