HD LEX: what changed
Two fiscal 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.
HD LEX
Largest movements
- Tangible fixed assets -€16,428
down €16,428 (-20.1%), from €81,722 to €65,294
of which Furniture and vehicles: -€11,816
- Reserves -€28,900
down €28,900 (-38.7%), from €74,714 to €45,814
- Other debts +€6,844
up €6,844 (+246.9%), from €2,771 to €9,615
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Gross operating margin -€57,493
down €57,493, from €44,300 to -€13,193
- Taxes -€12,445
down €12,445 (-98.1%), from €12,687 to €242
- Depreciation +€7,193
up €7,193 (+99.3%), from €7,244 to €14,437
- Financial income -€2,572
down €2,572 (-89.8%), from €2,863 to €291
- Other operating charges -€555
down €555 (-35.6%), from €1,558 to €1,003
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.
Cash bridge derived
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 | €97,494 | €82,168 | -€15,327 | -15.7% |
| Fixed assets | 21/28 | €81,722 | €65,294 | -€16,428 | -20.1% |
| Tangible fixed assets | 22/27 | €81,722 | €65,294 | -€16,428 | -20.1% |
| Plant, machinery and equipment | 23 | €4,920 | €4,042 | -€878 | -17.8% |
| Furniture and vehicles | 24 | €48,801 | €36,985 | -€11,816 | -24.2% |
| Other tangible fixed assets | 26 | €28,000 | €24,267 | -€3,734 | -13.3% |
| Current assets | 29/58 | €15,772 | €16,873 | +€1,101 | +7.0% |
| Amounts receivable within one year | 40/41 | €381 | - | -€381 | |
| Trade receivables | 40 | €381 | - | -€381 | |
| Cash at bank and in hand | 54/58 | €13,077 | €13,956 | +€879 | +6.7% |
| Deferred charges and accrued income | 490/1 | €2,315 | €2,918 | +€603 | +26.0% |
| Total equity and liabilities | 10/49 | €97,494 | €82,168 | -€15,327 | -15.7% |
| Equity | 10/15 | €87,114 | €64,414 | -€22,700 | -26.1% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €74,714 | €45,814 | -€28,900 | -38.7% |
| Distributable reserves | 133 | €74,714 | €45,814 | -€28,900 | -38.7% |
| Amounts payable | 17/49 | €10,380 | €17,754 | +€7,374 | +71.0% |
| Amounts payable within one year | 42/48 | €10,380 | €17,754 | +€7,374 | +71.0% |
| Trade debts | 44 | €152 | €103 | -€50 | -32.7% |
| Suppliers | 440/4 | €152 | €103 | -€50 | -32.7% |
| Taxes, remuneration and social security | 45 | €7,456 | €8,036 | +€580 | +7.8% |
| Taxes | 450/3 | €7,456 | €4,476 | -€2,980 | -40.0% |
| Remuneration and social security | 454/9 | - | €3,560 | +€3,560 | |
| Other amounts payable | 47/48 | €2,771 | €9,615 | +€6,844 | +246.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,244 | €14,437 | +€7,193 | +99.3% |
| Other operating charges | 640/8 | €1,558 | €1,003 | -€555 | -35.6% |
| Gross operating margin | 9900 | €44,300 | -€13,193 | -€57,493 | |
| Operating profit (loss) | 9901 | €35,498 | -€28,634 | -€64,132 | |
| Financial income | 75/76B | €2,863 | €291 | -€2,572 | -89.8% |
| Recurring financial income | 75 | €2,863 | €291 | -€2,572 | -89.8% |
| Financial charges | 65/66B | €221 | €316 | +€95 | +42.9% |
| Recurring financial charges | 65 | €221 | €316 | +€95 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €38,140 | -€28,659 | -€66,798 | |
| Income taxes | 67/77 | €12,687 | €242 | -€12,445 | -98.1% |
| Profit (loss) for the period | 9904 | €25,452 | -€28,900 | -€54,353 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,452 | -€28,900 | -€54,353 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.