HDH Avocats: 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.
HDH Avocats
Largest movements
- Receivables within one year -€435,659
down €435,659 (-91.4%), from €476,546 to €40,887
of which Trade receivables: -€439,806
- Cash -€102,244
down €102,244 (-42.5%), from €240,513 to €138,268
mainly Trade debts (-€427,002) and Net result for the year (-€55,036)
- Deferred charges and accrued income +€48,097
up €48,097 (+5,586%), from €861 to €48,958
- Tangible fixed assets -€35,905
down €35,905 (-24.1%), from €148,814 to €112,909
of which Leasing and similar rights: -€34,018
- Trade debts -€427,002
down €427,002 (-91.9%), from €464,473 to €37,471
of which Bills of exchange payable: -€434,270
- Profit (loss) carried forward -€55,036
down €55,036 (-63.5%), from €86,647 to €31,611
- Debts after one year -€34,878
down €34,878 (-31.0%), from €112,670 to €77,792
- Other debts -€15,551
down €15,551 (-13.4%), from €115,867 to €100,317
- Gross operating margin -€33,036
down €33,036 (-19.1%), from €173,379 to €140,344
- Staff costs +€15,981
up €15,981 (+12.7%), from €125,894 to €141,875
- Other operating charges -€4,805
down €4,805 (-39.7%), from €12,101 to €7,296
- Depreciation +€4,180
up €4,180 (+12.2%), from €34,324 to €38,505
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 | €866,734 | €341,023 | -€525,711 | -60.7% |
| Fixed assets | 21/28 | €148,814 | €112,909 | -€35,905 | -24.1% |
| Tangible fixed assets | 22/27 | €148,814 | €112,909 | -€35,905 | -24.1% |
| Plant, machinery and equipment | 23 | €3,833 | €2,803 | -€1,030 | -26.9% |
| Furniture and vehicles | 24 | €4,014 | €3,157 | -€856 | -21.3% |
| Leasing and similar rights | 25 | €140,967 | €106,949 | -€34,018 | -24.1% |
| Current assets | 29/58 | €717,920 | €228,114 | -€489,806 | -68.2% |
| Amounts receivable within one year | 40/41 | €476,546 | €40,887 | -€435,659 | -91.4% |
| Trade receivables | 40 | €476,546 | €36,740 | -€439,806 | -92.3% |
| Other amounts receivable | 41 | - | €4,147 | +€4,147 | |
| Cash at bank and in hand | 54/58 | €240,513 | €138,268 | -€102,244 | -42.5% |
| Deferred charges and accrued income | 490/1 | €861 | €48,958 | +€48,097 | +5,586% |
| Total equity and liabilities | 10/49 | €866,734 | €341,023 | -€525,711 | -60.7% |
| Equity | 10/15 | €107,272 | €52,236 | -€55,036 | -51.3% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,647 | €31,611 | -€55,036 | -63.5% |
| Amounts payable | 17/49 | €759,462 | €288,787 | -€470,674 | -62.0% |
| Amounts payable after more than one year | 17 | €112,670 | €77,792 | -€34,878 | -31.0% |
| Financial debts | 170/4 | €112,670 | €77,792 | -€34,878 | -31.0% |
| Amounts payable within one year | 42/48 | €646,792 | €210,995 | -€435,797 | -67.4% |
| Current portion of amounts payable after more than one year | 42 | €38,076 | €45,572 | +€7,496 | +19.7% |
| Trade debts | 44 | €464,473 | €37,471 | -€427,002 | -91.9% |
| Suppliers | 440/4 | €30,203 | €37,471 | +€7,268 | +24.1% |
| Bills of exchange payable | 441 | €434,270 | - | -€434,270 | |
| Taxes, remuneration and social security | 45 | €28,376 | €27,635 | -€740 | -2.6% |
| Taxes | 450/3 | €15,169 | €14,139 | -€1,030 | -6.8% |
| Remuneration and social security | 454/9 | €13,207 | €13,496 | +€289 | +2.2% |
| Other amounts payable | 47/48 | €115,867 | €100,317 | -€15,551 | -13.4% |
| Remuneration, social security and pensions | 62 | €125,894 | €141,875 | +€15,981 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,324 | €38,505 | +€4,180 | +12.2% |
| Other operating charges | 640/8 | €12,101 | €7,296 | -€4,805 | -39.7% |
| Gross operating margin | 9900 | €173,379 | €140,344 | -€33,036 | -19.1% |
| Operating profit (loss) | 9901 | €1,060 | -€47,332 | -€48,392 | |
| Financial income | 75/76B | €101 | €117 | +€16 | +16.1% |
| Recurring financial income | 75 | €101 | €117 | +€16 | +16.1% |
| Financial charges | 65/66B | €7,452 | €7,251 | -€201 | -2.7% |
| Recurring financial charges | 65 | €7,452 | €7,251 | -€201 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,292 | -€54,467 | -€48,175 | -766% |
| Income taxes | 67/77 | €539 | €570 | +€31 | +5.7% |
| Profit (loss) for the period | 9904 | -€6,830 | -€55,036 | -€48,206 | -706% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,830 | -€55,036 | -€48,206 | -706% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.