HDL-Concept: 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.
HDL-Concept
Largest movements
- Receivables within one year +€15,007
up €15,007 (+87.0%), from €17,241 to €32,248
of which Other amounts receivable: +€8,333
- Tangible fixed assets -€5,494
down €5,494 (-26.6%), from €20,689 to €15,194
of which Plant, machinery and equipment: -€3,365
- Stocks and contracts -€1,787
down €1,787 (-40.5%), from €4,411 to €2,624
- Cash -€1,781
down €1,781 (-11.1%), from €16,079 to €14,298
mainly Receivables within one year (-€15,007) and Net result for the year (-€3,455)
- Trade debts +€10,144
up €10,144 (+186%), from €5,460 to €15,604
- Profit (loss) carried forward -€3,455
down €3,455 (-28.1%), from -€12,284 to -€15,739
- Debts after one year +€1,191
up €1,191 (+3.0%), from €39,690 to €40,881
- Tax, wage and social debts -€1,102
down €1,102 (-56.0%), from €1,969 to €867
- Other debts -€833
down €833 (-10.3%), from €8,125 to €7,292
- Gross operating margin -€14,423
down €14,423 (-64.6%), from €22,317 to €7,894
- Taxes -€819
down €819 (-48.9%), from €1,675 to €856
- Other operating charges +€405
up €405 (+56.5%), from €717 to €1,122
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 | €63,420 | €69,365 | +€5,945 | +9.4% |
| Fixed assets | 21/28 | €20,689 | €15,194 | -€5,494 | -26.6% |
| Tangible fixed assets | 22/27 | €20,689 | €15,194 | -€5,494 | -26.6% |
| Plant, machinery and equipment | 23 | €13,078 | €9,713 | -€3,365 | -25.7% |
| Furniture and vehicles | 24 | €7,611 | €5,481 | -€2,129 | -28.0% |
| Current assets | 29/58 | €42,731 | €54,170 | +€11,440 | +26.8% |
| Amounts receivable after more than one year | 29 | €5,000 | €5,000 | = | 0.0% |
| Other amounts receivable | 291 | €5,000 | €5,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,411 | €2,624 | -€1,787 | -40.5% |
| Stocks | 30/36 | €4,411 | €2,624 | -€1,787 | -40.5% |
| Amounts receivable within one year | 40/41 | €17,241 | €32,248 | +€15,007 | +87.0% |
| Trade receivables | 40 | €323 | €6,998 | +€6,675 | +2,066% |
| Other amounts receivable | 41 | €16,918 | €25,250 | +€8,333 | +49.3% |
| Cash at bank and in hand | 54/58 | €16,079 | €14,298 | -€1,781 | -11.1% |
| Total equity and liabilities | 10/49 | €63,420 | €69,365 | +€5,945 | +9.4% |
| Equity | 10/15 | €8,176 | €4,721 | -€3,455 | -42.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,284 | -€15,739 | -€3,455 | -28.1% |
| Amounts payable | 17/49 | €55,244 | €64,643 | +€9,400 | +17.0% |
| Amounts payable after more than one year | 17 | €39,690 | €40,881 | +€1,191 | +3.0% |
| Financial debts | 170/4 | €39,690 | €40,881 | +€1,191 | +3.0% |
| Amounts payable within one year | 42/48 | €15,554 | €23,763 | +€8,209 | +52.8% |
| Trade debts | 44 | €5,460 | €15,604 | +€10,144 | +186% |
| Suppliers | 440/4 | €5,460 | €15,604 | +€10,144 | +186% |
| Taxes, remuneration and social security | 45 | €1,969 | €867 | -€1,102 | -56.0% |
| Taxes | 450/3 | €1,969 | €867 | -€1,102 | -56.0% |
| Other amounts payable | 47/48 | €8,125 | €7,292 | -€833 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,194 | €8,098 | -€96 | -1.2% |
| Other operating charges | 640/8 | €717 | €1,122 | +€405 | +56.5% |
| Gross operating margin | 9900 | €22,317 | €7,894 | -€14,423 | -64.6% |
| Operating profit (loss) | 9901 | €13,406 | -€1,326 | -€14,732 | |
| Financial charges | 65/66B | €1,266 | €1,273 | +€7 | +0.6% |
| Recurring financial charges | 65 | €1,266 | €1,273 | +€7 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €12,140 | -€2,599 | -€14,739 | |
| Income taxes | 67/77 | €1,675 | €856 | -€819 | -48.9% |
| Profit (loss) for the period | 9904 | €10,466 | -€3,455 | -€13,920 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,466 | -€3,455 | -€13,920 |
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 15 October 2026 via checked.be.