HDD Management Services: 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.
HDD Management Services
Largest movements
- Receivables within one year +€41,681
up €41,681 (+190%), from €21,933 to €63,614
of which Other amounts receivable: +€24,252
- Reserves +€60,000
up €60,000 (+31.2%), from €192,500 to €252,500
of which Distributable reserves: +€60,000
- Current portion of long-term debt -€26,392
down €26,392 (-60.5%), from €43,607 to €17,214
- Debts after one year -€17,214
down €17,214 (-21.6%), from €79,811 to €62,596
- Tax, wage and social debts +€10,164
up €10,164 (+46.2%), from €21,987 to €32,151
- Other debts +€5,780
up €5,780 (+6.5%), from €89,125 to €94,905
- Financial income +€35,000
new in 2025: €35,000
- Gross operating margin -€10,527
down €10,527 (-18.6%), from €56,574 to €46,047
- Taxes -€3,665
down €3,665 (-25.6%), from €14,287 to €10,623
- Financial charges +€2,288
up €2,288 (+41.0%), from €5,584 to €7,871
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 | €460,116 | €500,888 | +€40,772 | +8.9% |
| Fixed assets | 21/28 | €426,700 | €426,700 | = | 0.0% |
| Financial fixed assets | 28 | €426,700 | €426,700 | = | 0.0% |
| Current assets | 29/58 | €33,416 | €74,188 | +€40,772 | +122% |
| Amounts receivable within one year | 40/41 | €21,933 | €63,614 | +€41,681 | +190% |
| Trade receivables | 40 | €10,648 | €28,077 | +€17,429 | +164% |
| Other amounts receivable | 41 | €11,285 | €35,536 | +€24,252 | +215% |
| Cash at bank and in hand | 54/58 | €9,239 | €10,574 | +€1,335 | +14.5% |
| Deferred charges and accrued income | 490/1 | €2,244 | - | -€2,244 | |
| Total equity and liabilities | 10/49 | €460,116 | €500,888 | +€40,772 | +8.9% |
| Equity | 10/15 | €219,040 | €281,194 | +€62,154 | +28.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €192,500 | €252,500 | +€60,000 | +31.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €190,000 | €250,000 | +€60,000 | +31.6% |
| Profit (loss) carried forward | 14 | €1,540 | €3,694 | +€2,154 | +140% |
| Amounts payable | 17/49 | €241,076 | €219,694 | -€21,382 | -8.9% |
| Amounts payable after more than one year | 17 | €79,811 | €62,596 | -€17,214 | -21.6% |
| Financial debts | 170/4 | €79,811 | €62,596 | -€17,214 | -21.6% |
| Amounts payable within one year | 42/48 | €160,902 | €153,228 | -€7,675 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €43,607 | €17,214 | -€26,392 | -60.5% |
| Trade debts | 44 | €6,184 | €8,957 | +€2,773 | +44.8% |
| Suppliers | 440/4 | €6,184 | €8,957 | +€2,773 | +44.8% |
| Taxes, remuneration and social security | 45 | €21,987 | €32,151 | +€10,164 | +46.2% |
| Taxes | 450/3 | €21,987 | €32,151 | +€10,164 | +46.2% |
| Other amounts payable | 47/48 | €89,125 | €94,905 | +€5,780 | +6.5% |
| Accrued charges and deferred income | 492/3 | €364 | €3,871 | +€3,507 | +964% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €56,574 | €46,047 | -€10,527 | -18.6% |
| Operating profit (loss) | 9901 | €56,187 | €45,648 | -€10,539 | -18.8% |
| Financial income | 75/76B | - | €35,000 | +€35,000 | |
| Recurring financial income | 75 | - | €35,000 | +€35,000 | |
| Financial charges | 65/66B | €5,584 | €7,871 | +€2,288 | +41.0% |
| Recurring financial charges | 65 | €5,584 | €7,871 | +€2,288 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €50,603 | €72,776 | +€22,173 | +43.8% |
| Income taxes | 67/77 | €14,287 | €10,623 | -€3,665 | -25.6% |
| Profit (loss) for the period | 9904 | €36,316 | €62,154 | +€25,838 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,316 | €62,154 | +€25,838 | +71.1% |
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 22 October 2026 via checked.be.