HD Payroll: 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 Payroll
Largest movements
- Cash +€35,675
up €35,675 (+321.3%), from €11,103 to €46,779
mainly Net result for the year (+€18,732) and Trade debts (+€10,318)
- Receivables within one year +€644
up €644 (+13.4%), from €4,795 to €5,439
- Reserves +€18,732
new in 2025: €18,732
- Trade debts +€10,318
up €10,318 (+4925.1%), from €209 to €10,527
- Tax, wage and social debts +€7,271
up €7,271 (+178.6%), from €4,071 to €11,342
- Gross operating margin +€9,546
up €9,546 (+51.5%), from €18,522 to €28,068
- Taxes +€5,369
up €5,369 (+159.2%), from €3,372 to €8,741
- Depreciation -€3,527
no longer reported in 2025 (was €3,527)
- Financial charges -€538
down €538 (-73.4%), from €733 to €195
- Other operating charges -€372
down €372 (-48.2%), from €772 to €400
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 | €15,898 | €52,217 | +€36,320 | +228.5% |
| Current assets | 29/58 | €15,898 | €52,217 | +€36,320 | +228.5% |
| Amounts receivable within one year | 40/41 | €4,795 | €5,439 | +€644 | +13.4% |
| Trade receivables | 40 | €4,795 | €5,439 | +€644 | +13.4% |
| Cash at bank and in hand | 54/58 | €11,103 | €46,779 | +€35,675 | +321.3% |
| Total equity and liabilities | 10/49 | €15,898 | €52,217 | +€36,320 | +228.5% |
| Equity | 10/15 | €11,617 | €30,349 | +€18,732 | +161.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | - | €18,732 | +€18,732 | |
| Distributable reserves | 133 | - | €18,732 | +€18,732 | |
| Profit (loss) carried forward | 14 | €10,117 | €10,117 | = | 0.0% |
| Amounts payable | 17/49 | €4,281 | €21,869 | +€17,588 | +410.9% |
| Amounts payable within one year | 42/48 | €4,281 | €21,869 | +€17,588 | +410.9% |
| Trade debts | 44 | €209 | €10,527 | +€10,318 | +4925.1% |
| Suppliers | 440/4 | €209 | €10,527 | +€10,318 | +4925.1% |
| Taxes, remuneration and social security | 45 | €4,071 | €11,342 | +€7,271 | +178.6% |
| Taxes | 450/3 | €4,071 | €11,342 | +€7,271 | +178.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,527 | - | -€3,527 | |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | €18,522 | €28,068 | +€9,546 | +51.5% |
| Operating profit (loss) | 9901 | €14,223 | €27,668 | +€13,445 | +94.5% |
| Financial charges | 65/66B | €733 | €195 | -€538 | -73.4% |
| Recurring financial charges | 65 | €733 | €195 | -€538 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | €13,490 | €27,473 | +€13,983 | +103.7% |
| Income taxes | 67/77 | €3,372 | €8,741 | +€5,369 | +159.2% |
| Profit (loss) for the period | 9904 | €10,117 | €18,732 | +€8,614 | +85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,117 | €18,732 | +€8,614 | +85.1% |
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 5 October 2026 via checked.be.