HD Works: 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 Works
Largest movements
- Cash +€43,125
up €43,125 (+511.9%), from €8,425 to €51,550
mainly Net result for the year (+€32,083) and Debts after one year (+€27,500)
- Tangible fixed assets +€35,486
new in 2025: €35,486
- Receivables within one year -€5,931
down €5,931 (-49.7%), from €11,931 to €6,000
of which Other amounts receivable: -€4,671
- Reserves +€32,083
up €32,083 (+257.6%), from €12,454 to €44,537
- Debts after one year +€27,500
new in 2025: €27,500
- Current portion of long-term debt +€7,722
new in 2025: €7,722
- Tax, wage and social debts +€4,011
up €4,011 (+61.6%), from €6,515 to €10,525
- Trade debts +€1,117
up €1,117 (+288.4%), from €387 to €1,504
- Gross operating margin +€32,695
up €32,695 (+204.2%), from €16,011 to €48,706
- Depreciation +€6,458
new in 2025: €6,458
- Taxes +€5,028
up €5,028 (+161.5%), from €3,113 to €8,142
- Financial charges +€1,245
up €1,245 (+21249.3%), from €6 to €1,251
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 | €20,356 | €93,486 | +€73,130 | +359.3% |
| Fixed assets | 21/28 | - | €35,486 | +€35,486 | |
| Tangible fixed assets | 22/27 | - | €35,486 | +€35,486 | |
| Furniture and vehicles | 24 | - | €35,486 | +€35,486 | |
| Current assets | 29/58 | €20,356 | €58,000 | +€37,644 | +184.9% |
| Amounts receivable within one year | 40/41 | €11,931 | €6,000 | -€5,931 | -49.7% |
| Trade receivables | 40 | €7,260 | €6,000 | -€1,260 | -17.4% |
| Other amounts receivable | 41 | €4,671 | €0 | -€4,671 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,425 | €51,550 | +€43,125 | +511.9% |
| Deferred charges and accrued income | 490/1 | - | €450 | +€450 | |
| Total equity and liabilities | 10/49 | €20,356 | €93,486 | +€73,130 | +359.3% |
| Equity | 10/15 | €13,454 | €45,537 | +€32,083 | +238.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,454 | €44,537 | +€32,083 | +257.6% |
| Distributable reserves | 133 | €12,454 | €44,537 | +€32,083 | +257.6% |
| Amounts payable | 17/49 | €6,902 | €47,949 | +€41,047 | +594.7% |
| Amounts payable after more than one year | 17 | - | €27,500 | +€27,500 | |
| Financial debts | 170/4 | - | €27,500 | +€27,500 | |
| Amounts payable within one year | 42/48 | €6,902 | €20,449 | +€13,547 | +196.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,722 | +€7,722 | |
| Trade debts | 44 | €387 | €1,504 | +€1,117 | +288.4% |
| Suppliers | 440/4 | €387 | €1,504 | +€1,117 | +288.4% |
| Taxes, remuneration and social security | 45 | €6,515 | €10,525 | +€4,011 | +61.6% |
| Taxes | 450/3 | €6,515 | €10,525 | +€4,011 | +61.6% |
| Other amounts payable | 47/48 | - | €697 | +€697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,458 | +€6,458 | |
| Other operating charges | 640/8 | €437 | €772 | +€334 | +76.5% |
| Gross operating margin | 9900 | €16,011 | €48,706 | +€32,695 | +204.2% |
| Operating profit (loss) | 9901 | €15,573 | €41,476 | +€25,903 | +166.3% |
| Financial charges | 65/66B | €6 | €1,251 | +€1,245 | +21249.3% |
| Recurring financial charges | 65 | €6 | €1,251 | +€1,245 | +21249.3% |
| Profit (loss) for the period before taxes | 9903 | €15,567 | €40,225 | +€24,657 | +158.4% |
| Income taxes | 67/77 | €3,113 | €8,142 | +€5,028 | +161.5% |
| Profit (loss) for the period | 9904 | €12,454 | €32,083 | +€19,629 | +157.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,454 | €32,083 | +€19,629 | +157.6% |
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 11 October 2026 via checked.be.