HDB Projects: 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.
HDB Projects
Largest movements
- Cash +€54,054
up €54,054 (+115.1%), from €46,982 to €101,036
mainly Net result for the year (+€56,797) and Trade debts (+€4,639)
- Receivables within one year +€5,648
up €5,648 (+207.7%), from €2,719 to €8,367
of which Trade receivables: +€3,051
- Deferred charges and accrued income +€1,456
new in 2024: €1,456
- Reserves +€56,797
up €56,797 (+144.8%), from €39,212 to €96,009
- Trade debts +€4,639
up €4,639 (+2666.1%), from €174 to €4,813
- Other debts -€2,900
no longer reported in 2024 (was €2,900)
- Tax, wage and social debts +€2,567
up €2,567 (+32.8%), from €7,821 to €10,388
- Gross operating margin +€19,060
up €19,060 (+35.3%), from €54,038 to €73,098
- Taxes +€4,838
up €4,838 (+44.2%), from €10,948 to €15,786
- Staff costs -€960
no longer reported in 2024 (was €960)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,207 | €111,310 | +€61,103 | +121.7% |
| Fixed assets | 21/28 | €506 | €451 | -€55 | -10.8% |
| Tangible fixed assets | 22/27 | €506 | €451 | -€55 | -10.8% |
| Furniture and vehicles | 24 | €506 | €451 | -€55 | -10.8% |
| Current assets | 29/58 | €49,701 | €110,859 | +€61,158 | +123.1% |
| Amounts receivable within one year | 40/41 | €2,719 | €8,367 | +€5,648 | +207.7% |
| Trade receivables | 40 | €174 | €3,225 | +€3,051 | +1753.7% |
| Other amounts receivable | 41 | €2,545 | €5,142 | +€2,597 | +102.0% |
| Cash at bank and in hand | 54/58 | €46,982 | €101,036 | +€54,054 | +115.1% |
| Deferred charges and accrued income | 490/1 | - | €1,456 | +€1,456 | |
| Total equity and liabilities | 10/49 | €50,207 | €111,310 | +€61,103 | +121.7% |
| Equity | 10/15 | €39,312 | €96,109 | +€56,797 | +144.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €39,212 | €96,009 | +€56,797 | +144.8% |
| Distributable reserves | 133 | €39,212 | €96,009 | +€56,797 | +144.8% |
| Amounts payable | 17/49 | €10,895 | €15,201 | +€4,306 | +39.5% |
| Amounts payable within one year | 42/48 | €10,895 | €15,201 | +€4,306 | +39.5% |
| Trade debts | 44 | €174 | €4,813 | +€4,639 | +2666.1% |
| Suppliers | 440/4 | €174 | €4,813 | +€4,639 | +2666.1% |
| Taxes, remuneration and social security | 45 | €7,821 | €10,388 | +€2,567 | +32.8% |
| Taxes | 450/3 | €7,821 | €10,388 | +€2,567 | +32.8% |
| Other amounts payable | 47/48 | €2,900 | - | -€2,900 | |
| Remuneration, social security and pensions | 62 | €960 | - | -€960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41 | €55 | +€13 | +32.2% |
| Other operating charges | 640/8 | - | €182 | +€182 | |
| Gross operating margin | 9900 | €54,038 | €73,098 | +€19,060 | +35.3% |
| Operating profit (loss) | 9901 | €53,037 | €72,862 | +€19,825 | +37.4% |
| Financial income | 75/76B | €23 | €105 | +€81 | +348.8% |
| Recurring financial income | 75 | €23 | €105 | +€81 | +348.8% |
| Financial charges | 65/66B | €1 | €383 | +€382 | +47783.8% |
| Recurring financial charges | 65 | €1 | €383 | +€382 | +47783.8% |
| Profit (loss) for the period before taxes | 9903 | €53,059 | €72,583 | +€19,524 | +36.8% |
| Income taxes | 67/77 | €10,948 | €15,786 | +€4,838 | +44.2% |
| Profit (loss) for the period | 9904 | €42,112 | €56,797 | +€14,686 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,112 | €56,797 | +€14,686 | +34.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.