HD COMPANY: what changed
HD COMPANY
Largest movements
- Current investments -€79,149
down €79,149 (-87.9%), from €90,000 to €10,851
- Receivables within one year +€53,453
up €53,453 (+136%), from €39,358 to €92,810
of which Trade receivables: +€30,667
- Cash +€45,221
up €45,221 (+111%), from €40,873 to €86,094
mainly Net result for the year (+€142,554) and Other debts (+€142,403)
- Tangible fixed assets -€8,541
down €8,541 (-14.1%), from €60,656 to €52,115
of which Other tangible fixed assets: -€6,512
- Profit (loss) carried forward -€172,811
no longer reported in 2025 (was €172,811)
- Other debts +€142,403
new in 2025: €142,403
- Reserves +€43,812
new in 2025: €43,812
- Short-term financial debts +€13,461
new in 2025: €13,461
- Current portion of long-term debt -€11,832
no longer reported in 2025 (was €11,832)
- Gross operating margin -€24,406
down €24,406 (-11.0%), from €222,201 to €197,794
- Taxes -€6,279
down €6,279 (-11.7%), from €53,665 to €47,386
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,985 | €242,266 | +€11,281 | +4.9% |
| Fixed assets | 21/28 | €60,656 | €52,115 | -€8,541 | -14.1% |
| Tangible fixed assets | 22/27 | €60,656 | €52,115 | -€8,541 | -14.1% |
| Furniture and vehicles | 24 | €3,151 | €1,123 | -€2,029 | -64.4% |
| Other tangible fixed assets | 26 | €57,505 | €50,992 | -€6,512 | -11.3% |
| Current assets | 29/58 | €170,329 | €190,151 | +€19,822 | +11.6% |
| Amounts receivable within one year | 40/41 | €39,358 | €92,810 | +€53,453 | +136% |
| Trade receivables | 40 | €32,253 | €62,920 | +€30,667 | +95.1% |
| Other amounts receivable | 41 | €7,105 | €29,890 | +€22,785 | +321% |
| Current investments | 50/53 | €90,000 | €10,851 | -€79,149 | -87.9% |
| Cash at bank and in hand | 54/58 | €40,873 | €86,094 | +€45,221 | +111% |
| Deferred charges and accrued income | 490/1 | €97 | €395 | +€298 | +306% |
| Total equity and liabilities | 10/49 | €230,985 | €242,266 | +€11,281 | +4.9% |
| Equity | 10/15 | €173,811 | €44,812 | -€128,999 | -74.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €43,812 | +€43,812 | |
| Distributable reserves | 133 | - | €43,812 | +€43,812 | |
| Profit (loss) carried forward | 14 | €172,811 | - | -€172,811 | |
| Amounts payable | 17/49 | €57,174 | €197,454 | +€140,280 | +245% |
| Amounts payable within one year | 42/48 | €57,174 | €197,454 | +€140,280 | +245% |
| Current portion of amounts payable after more than one year | 42 | €11,832 | - | -€11,832 | |
| Financial debts | 43 | - | €13,461 | +€13,461 | |
| Credit institutions | 430/8 | - | €13,461 | +€13,461 | |
| Trade debts | 44 | €5,518 | €8,593 | +€3,075 | +55.7% |
| Suppliers | 440/4 | €5,518 | €8,593 | +€3,075 | +55.7% |
| Taxes, remuneration and social security | 45 | €39,824 | €32,997 | -€6,827 | -17.1% |
| Taxes | 450/3 | €39,824 | €32,997 | -€6,827 | -17.1% |
| Other amounts payable | 47/48 | - | €142,403 | +€142,403 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,541 | €8,541 | = | 0.0% |
| Other operating charges | 640/8 | €141 | €544 | +€403 | +287% |
| Gross operating margin | 9900 | €222,201 | €197,794 | -€24,406 | -11.0% |
| Operating profit (loss) | 9901 | €213,519 | €188,710 | -€24,810 | -11.6% |
| Financial income | 75/76B | €621 | €1,854 | +€1,232 | +198% |
| Recurring financial income | 75 | €621 | €1,854 | +€1,232 | +198% |
| Financial charges | 65/66B | €915 | €624 | -€292 | -31.9% |
| Recurring financial charges | 65 | €915 | €624 | -€292 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €213,225 | €189,940 | -€23,286 | -10.9% |
| Income taxes | 67/77 | €53,665 | €47,386 | -€6,279 | -11.7% |
| Profit (loss) for the period | 9904 | €159,560 | €142,554 | -€17,007 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €159,560 | €142,554 | -€17,007 | -10.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.