HD NEGOCE: 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 NEGOCE
Largest movements
- Tangible fixed assets -€28,829
down €28,829 (-13.3%), from €217,290 to €188,461
of which Plant, machinery and equipment: -€23,312
- Cash +€24,224
up €24,224 (+375%), from €6,461 to €30,685
mainly Depreciation (+€31,789) and Stocks and contracts (+€5,285)
- Stocks and contracts -€5,285
down €5,285 (-14.8%), from €35,806 to €30,521
- Other debts -€8,150
down €8,150 (-3.7%), from €222,185 to €214,035
- Current portion of long-term debt -€7,500
no longer reported in 2025 (was €7,500)
- Profit (loss) carried forward +€2,976
up €2,976 (+11.3%), from €26,308 to €29,284
- Gross operating margin +€24,472
up €24,472 (+283%), from €8,648 to €33,120
- Financial income +€2,285
up €2,285 (+3,533%), from €65 to €2,350
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 | €280,455 | €271,574 | -€8,882 | -3.2% |
| Fixed assets | 21/28 | €217,290 | €188,461 | -€28,829 | -13.3% |
| Tangible fixed assets | 22/27 | €217,290 | €188,461 | -€28,829 | -13.3% |
| Land and buildings | 22 | €154,337 | €149,269 | -€5,068 | -3.3% |
| Plant, machinery and equipment | 23 | €61,422 | €38,110 | -€23,312 | -38.0% |
| Furniture and vehicles | 24 | €1,532 | €1,082 | -€449 | -29.3% |
| Current assets | 29/58 | €63,165 | €83,113 | +€19,948 | +31.6% |
| Stocks and contracts in progress | 3 | €35,806 | €30,521 | -€5,285 | -14.8% |
| Stocks | 30/36 | €35,806 | €30,521 | -€5,285 | -14.8% |
| Amounts receivable within one year | 40/41 | €20,899 | €21,907 | +€1,008 | +4.8% |
| Trade receivables | 40 | €19,401 | €11,768 | -€7,633 | -39.3% |
| Other amounts receivable | 41 | €1,498 | €10,139 | +€8,641 | +577% |
| Cash at bank and in hand | 54/58 | €6,461 | €30,685 | +€24,224 | +375% |
| Total equity and liabilities | 10/49 | €280,455 | €271,574 | -€8,882 | -3.2% |
| Equity | 10/15 | €48,808 | €51,784 | +€2,976 | +6.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,500 | €17,500 | = | 0.0% |
| Distributable reserves | 133 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,308 | €29,284 | +€2,976 | +11.3% |
| Amounts payable | 17/49 | €231,647 | €219,790 | -€11,858 | -5.1% |
| Amounts payable within one year | 42/48 | €231,647 | €219,790 | -€11,858 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | - | -€7,500 | |
| Trade debts | 44 | €149 | €1,356 | +€1,206 | +808% |
| Suppliers | 440/4 | €149 | €1,356 | +€1,206 | +808% |
| Taxes, remuneration and social security | 45 | €1,814 | €4,399 | +€2,586 | +143% |
| Taxes | 450/3 | €1,814 | €4,399 | +€2,586 | +143% |
| Other amounts payable | 47/48 | €222,185 | €214,035 | -€8,150 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,769 | €31,789 | +€20 | +0.1% |
| Other operating charges | 640/8 | €515 | €539 | +€24 | +4.7% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €8,648 | €33,120 | +€24,472 | +283% |
| Operating profit (loss) | 9901 | -€23,636 | €742 | +€24,378 | |
| Financial income | 75/76B | €65 | €2,350 | +€2,285 | +3,533% |
| Recurring financial income | 75 | €65 | €2,350 | +€2,285 | +3,533% |
| Financial charges | 65/66B | €161 | €116 | -€45 | -28.0% |
| Recurring financial charges | 65 | €161 | €116 | -€45 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,732 | €2,976 | +€26,708 | |
| Profit (loss) for the period | 9904 | -€23,732 | €2,976 | +€26,708 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,732 | €2,976 | +€26,708 |
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 27 October 2026 via checked.be.