HAND: 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.
HAND
Largest movements
- Receivables within one year -€11,716
down €11,716 (-76.0%), from €15,408 to €3,692
of which Trade receivables: -€11,450
- Cash +€9,656
up €9,656 (+89.6%), from €10,779 to €20,435
mainly Receivables within one year (+€11,716) and Depreciation (+€5,184)
- Tangible fixed assets -€4,939
down €4,939 (-31.5%), from €15,674 to €10,735
- Deferred charges and accrued income +€2,155
up €2,155 (+48.5%), from €4,444 to €6,599
- Debts after one year -€5,070
down €5,070 (-36.0%), from €14,096 to €9,025
- Trade debts +€1,540
up €1,540 (+15.0%), from €10,284 to €11,824
- Other debts -€1,246
down €1,246 (-53.9%), from €2,312 to €1,066
- Current portion of long-term debt -€827
down €827 (-14.0%), from €5,897 to €5,070
- Staff costs +€5,551
up €5,551 (+10.5%), from €52,930 to €58,481
- Gross operating margin -€4,302
down €4,302 (-5.1%), from €85,046 to €80,744
- Depreciation -€1,419
down €1,419 (-21.5%), from €6,604 to €5,184
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 | €48,665 | €43,417 | -€5,249 | -10.8% |
| Fixed assets | 21/28 | €15,849 | €10,910 | -€4,939 | -31.2% |
| Tangible fixed assets | 22/27 | €15,674 | €10,735 | -€4,939 | -31.5% |
| Plant, machinery and equipment | 23 | €4,126 | €2,010 | -€2,117 | -51.3% |
| Furniture and vehicles | 24 | €1,716 | €1,190 | -€526 | -30.6% |
| Other tangible fixed assets | 26 | €9,832 | €7,535 | -€2,296 | -23.4% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €32,816 | €32,507 | -€310 | -0.9% |
| Stocks and contracts in progress | 3 | €2,185 | €1,780 | -€405 | -18.5% |
| Stocks | 30/36 | €2,185 | €1,780 | -€405 | -18.5% |
| Amounts receivable within one year | 40/41 | €15,408 | €3,692 | -€11,716 | -76.0% |
| Trade receivables | 40 | €15,025 | €3,576 | -€11,450 | -76.2% |
| Other amounts receivable | 41 | €383 | €116 | -€266 | -69.6% |
| Cash at bank and in hand | 54/58 | €10,779 | €20,435 | +€9,656 | +89.6% |
| Deferred charges and accrued income | 490/1 | €4,444 | €6,599 | +€2,155 | +48.5% |
| Total equity and liabilities | 10/49 | €48,665 | €43,417 | -€5,249 | -10.8% |
| Equity | 10/15 | €7,349 | €7,405 | +€57 | +0.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,349 | €1,405 | +€57 | +4.2% |
| Amounts payable | 17/49 | €41,317 | €36,011 | -€5,305 | -12.8% |
| Amounts payable after more than one year | 17 | €14,096 | €9,025 | -€5,070 | -36.0% |
| Financial debts | 170/4 | €14,096 | €9,025 | -€5,070 | -36.0% |
| Amounts payable within one year | 42/48 | €27,221 | €26,986 | -€235 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €5,897 | €5,070 | -€827 | -14.0% |
| Trade debts | 44 | €10,284 | €11,824 | +€1,540 | +15.0% |
| Suppliers | 440/4 | €10,284 | €11,824 | +€1,540 | +15.0% |
| Taxes, remuneration and social security | 45 | €8,727 | €9,026 | +€298 | +3.4% |
| Taxes | 450/3 | €5,451 | €4,036 | -€1,415 | -26.0% |
| Remuneration and social security | 454/9 | €3,277 | €4,990 | +€1,713 | +52.3% |
| Other amounts payable | 47/48 | €2,312 | €1,066 | -€1,246 | -53.9% |
| Non-recurring operating income | 76A | - | €8,387 | +€8,387 | |
| Remuneration, social security and pensions | 62 | €52,930 | €58,481 | +€5,551 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,604 | €5,184 | -€1,419 | -21.5% |
| Other operating charges | 640/8 | €1,750 | €2,425 | +€675 | +38.6% |
| Non-recurring operating charges | 66A | - | €8,206 | +€8,206 | |
| Gross operating margin | 9900 | €85,046 | €80,744 | -€4,302 | -5.1% |
| Operating profit (loss) | 9901 | €23,762 | €6,447 | -€17,315 | -72.9% |
| Financial income | 75/76B | €2 | €2 | -€0 | -3.2% |
| Recurring financial income | 75 | €2 | €2 | -€0 | -3.2% |
| Financial charges | 65/66B | €5,449 | €6,081 | +€632 | +11.6% |
| Recurring financial charges | 65 | €5,449 | €6,081 | +€632 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €18,315 | €368 | -€17,948 | -98.0% |
| Income taxes | 67/77 | €49 | €311 | +€262 | +532% |
| Profit (loss) for the period | 9904 | €18,266 | €57 | -€18,210 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,266 | €57 | -€18,210 | -99.7% |
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 16 October 2026 via checked.be.