Hd & m Group: 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.
Hd & m Group
Largest movements
- Stocks and contracts -€20,023
down €20,023 (-17.8%), from €112,214 to €92,191
- Receivables within one year +€15,964
up €15,964 (+297%), from €5,377 to €21,342
of which Trade receivables: +€11,675
- Current investments -€2,361
down €2,361 (-100%), from €2,361 to €0
- Other debts -€8,206
down €8,206 (-9.2%), from €89,419 to €81,213
- Trade debts +€2,886
up €2,886 (+95.4%), from €3,024 to €5,911
- Tax, wage and social debts -€1,596
down €1,596 (-5.1%), from €31,340 to €29,743
of which Taxes: -€1,596
- Gross operating margin -€10,707
down €10,707 (-63.5%), from €16,870 to €6,163
- Write-downs +€5,080
up €5,080, from €0 to €5,080
- Other operating charges -€1,300
down €1,300 (-92.9%), from €1,400 to €100
- Taxes +€633
up €633, from -€633 to €0
- Depreciation -€387
down €387 (-100%), from €387 to €0
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 | €124,896 | €118,919 | -€5,977 | -4.8% |
| Fixed assets | 21/28 | €4,900 | €4,900 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €4,900 | €4,900 | = | 0.0% |
| Current assets | 29/58 | €119,996 | €114,019 | -€5,977 | -5.0% |
| Stocks and contracts in progress | 3 | €112,214 | €92,191 | -€20,023 | -17.8% |
| Stocks | 30/36 | €112,214 | €92,191 | -€20,023 | -17.8% |
| Amounts receivable within one year | 40/41 | €5,377 | €21,342 | +€15,964 | +297% |
| Trade receivables | 40 | €4,340 | €16,015 | +€11,675 | +269% |
| Other amounts receivable | 41 | €1,037 | €5,326 | +€4,289 | +413% |
| Current investments | 50/53 | €2,361 | €0 | -€2,361 | -100% |
| Cash at bank and in hand | 54/58 | €43 | €486 | +€444 | +1,040% |
| Total equity and liabilities | 10/49 | €124,896 | €118,919 | -€5,977 | -4.8% |
| Equity | 10/15 | €1,113 | €2,052 | +€939 | +84.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,887 | -€22,948 | +€939 | +3.9% |
| Amounts payable | 17/49 | €123,783 | €116,867 | -€6,916 | -5.6% |
| Amounts payable within one year | 42/48 | €123,783 | €116,867 | -€6,916 | -5.6% |
| Trade debts | 44 | €3,024 | €5,911 | +€2,886 | +95.4% |
| Suppliers | 440/4 | €3,024 | €5,911 | +€2,886 | +95.4% |
| Taxes, remuneration and social security | 45 | €31,340 | €29,743 | -€1,596 | -5.1% |
| Taxes | 450/3 | €1,652 | €55 | -€1,596 | -96.6% |
| Remuneration and social security | 454/9 | €29,688 | €29,688 | = | 0.0% |
| Other amounts payable | 47/48 | €89,419 | €81,213 | -€8,206 | -9.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387 | €0 | -€387 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €5,080 | +€5,080 | |
| Other operating charges | 640/8 | €1,400 | €100 | -€1,300 | -92.9% |
| Gross operating margin | 9900 | €16,870 | €6,163 | -€10,707 | -63.5% |
| Operating profit (loss) | 9901 | €15,083 | €982 | -€14,100 | -93.5% |
| Financial income | 75/76B | €104 | €2 | -€103 | -98.5% |
| Recurring financial income | 75 | €104 | €2 | -€103 | -98.5% |
| Financial charges | 65/66B | €162 | €45 | -€117 | -72.5% |
| Recurring financial charges | 65 | €162 | €45 | -€117 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | €15,025 | €939 | -€14,086 | -93.7% |
| Income taxes | 67/77 | -€633 | €0 | +€633 | |
| Profit (loss) for the period | 9904 | €15,659 | €939 | -€14,719 | -94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,659 | €939 | -€14,719 | -94.0% |
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 20 October 2026 via checked.be.