HDE Studio: 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.
HDE Studio
Largest movements
- Receivables within one year -€25,262
down €25,262 (-82.0%), from €30,804 to €5,542
of which Trade receivables: -€21,865
- Cash -€6,682
down €6,682 (-58.3%), from €11,458 to €4,776
mainly Trade debts (-€18,334) and Net result for the year (-€14,480)
- Tangible fixed assets -€5,274
down €5,274 (-66.3%), from €7,957 to €2,683
- Trade debts -€18,334
no longer reported in 2024 (was €18,334)
- Reserves -€14,480
down €14,480 (-84.0%), from €17,237 to €2,756
- Tax, wage and social debts -€2,421
down €2,421 (-32.6%), from €7,420 to €4,999
- Short-term financial debts -€2,134
down €2,134 (-84.2%), from €2,534 to €400
- Gross operating margin -€52,883
down €52,883, from €46,139 to -€6,745
- Other operating charges -€23,726
down €23,726 (-95.1%), from €24,945 to €1,219
- Financial charges -€3,831
down €3,831 (-75.5%), from €5,073 to €1,242
- Taxes -€3,379
no longer reported in 2024 (was €3,379)
- Depreciation +€2,313
up €2,313 (+78.1%), from €2,961 to €5,274
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 | €50,524 | €13,155 | -€37,369 | -74.0% |
| Fixed assets | 21/28 | €7,957 | €2,683 | -€5,274 | -66.3% |
| Tangible fixed assets | 22/27 | €7,957 | €2,683 | -€5,274 | -66.3% |
| Furniture and vehicles | 24 | €7,957 | €2,683 | -€5,274 | -66.3% |
| Current assets | 29/58 | €42,567 | €10,472 | -€32,095 | -75.4% |
| Amounts receivable within one year | 40/41 | €30,804 | €5,542 | -€25,262 | -82.0% |
| Trade receivables | 40 | €23,109 | €1,244 | -€21,865 | -94.6% |
| Other amounts receivable | 41 | €7,696 | €4,299 | -€3,397 | -44.1% |
| Cash at bank and in hand | 54/58 | €11,458 | €4,776 | -€6,682 | -58.3% |
| Deferred charges and accrued income | 490/1 | €305 | €153 | -€151 | -49.6% |
| Total equity and liabilities | 10/49 | €50,524 | €13,155 | -€37,369 | -74.0% |
| Equity | 10/15 | €22,237 | €7,756 | -€14,480 | -65.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,237 | €2,756 | -€14,480 | -84.0% |
| Distributable reserves | 133 | €17,237 | €2,756 | -€14,480 | -84.0% |
| Amounts payable | 17/49 | €28,288 | €5,399 | -€22,889 | -80.9% |
| Amounts payable within one year | 42/48 | €28,288 | €5,399 | -€22,889 | -80.9% |
| Financial debts | 43 | €2,534 | €400 | -€2,134 | -84.2% |
| Credit institutions | 430/8 | €2,534 | €400 | -€2,134 | -84.2% |
| Trade debts | 44 | €18,334 | - | -€18,334 | |
| Suppliers | 440/4 | €18,334 | - | -€18,334 | |
| Taxes, remuneration and social security | 45 | €7,420 | €4,999 | -€2,421 | -32.6% |
| Taxes | 450/3 | €7,420 | €4,999 | -€2,421 | -32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,961 | €5,274 | +€2,313 | +78.1% |
| Other operating charges | 640/8 | €24,945 | €1,219 | -€23,726 | -95.1% |
| Gross operating margin | 9900 | €46,139 | -€6,745 | -€52,883 | |
| Operating profit (loss) | 9901 | €18,233 | -€13,238 | -€31,471 | |
| Financial income | 75/76B | €1,266 | €0 | -€1,266 | -100.0% |
| Recurring financial income | 75 | €1,266 | €0 | -€1,266 | -100.0% |
| Financial charges | 65/66B | €5,073 | €1,242 | -€3,831 | -75.5% |
| Recurring financial charges | 65 | €5,073 | €1,242 | -€3,831 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | €14,426 | -€14,480 | -€28,906 | |
| Income taxes | 67/77 | €3,379 | - | -€3,379 | |
| Profit (loss) for the period | 9904 | €11,047 | -€14,480 | -€25,527 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,047 | -€14,480 | -€25,527 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.