HDM CONSULT: 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.
HDM CONSULT
Largest movements
- Current investments +€286,535
up €286,535 (+2,085%), from €13,740 to €300,275
- Receivables within one year -€129,519
down €129,519 (-32.0%), from €404,521 to €275,002
of which Trade receivables: -€130,188
- Cash -€92,801
down €92,801 (-15.2%), from €611,373 to €518,572
mainly Contributions, distributions and other (-€305,795) and Current investments (-€286,535)
- Other debts +€281,308
up €281,308 (+99.2%), from €283,466 to €564,774
- Reserves -€231,265
down €231,265 (-10.7%), from €2.2m to €1.9m
- Depreciation +€1,716
up €1,716 (+9.0%), from €19,071 to €20,787
- Financial charges +€1,555
up €1,555 (+7.3%), from €21,435 to €22,991
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 | €4,572,235 | €4,627,746 | +€55,512 | +1.2% |
| Fixed assets | 21/28 | €3,542,324 | €3,528,910 | -€13,414 | -0.4% |
| Tangible fixed assets | 22/27 | €36,704 | €23,290 | -€13,414 | -36.5% |
| Furniture and vehicles | 24 | €36,704 | €23,290 | -€13,414 | -36.5% |
| Financial fixed assets | 28 | €3,505,620 | €3,505,620 | = | 0.0% |
| Current assets | 29/58 | €1,029,911 | €1,098,837 | +€68,925 | +6.7% |
| Amounts receivable within one year | 40/41 | €404,521 | €275,002 | -€129,519 | -32.0% |
| Trade receivables | 40 | €130,188 | - | -€130,188 | |
| Other amounts receivable | 41 | €274,333 | €275,002 | +€669 | +0.2% |
| Current investments | 50/53 | €13,740 | €300,275 | +€286,535 | +2,085% |
| Cash at bank and in hand | 54/58 | €611,373 | €518,572 | -€92,801 | -15.2% |
| Deferred charges and accrued income | 490/1 | €276 | €4,987 | +€4,710 | +1,704% |
| Total equity and liabilities | 10/49 | €4,572,235 | €4,627,746 | +€55,512 | +1.2% |
| Equity | 10/15 | €4,281,596 | €4,050,331 | -€231,265 | -5.4% |
| Contributions | 10/11 | €2,110,976 | €2,110,976 | = | 0.0% |
| Reserves | 13 | €2,170,620 | €1,939,355 | -€231,265 | -10.7% |
| Distributable reserves | 133 | €2,170,620 | €1,939,355 | -€231,265 | -10.7% |
| Amounts payable | 17/49 | €290,639 | €577,415 | +€286,776 | +98.7% |
| Amounts payable within one year | 42/48 | €290,639 | €577,415 | +€286,776 | +98.7% |
| Trade debts | 44 | €1,556 | €7,941 | +€6,386 | +410% |
| Suppliers | 440/4 | €1,556 | €7,941 | +€6,386 | +410% |
| Taxes, remuneration and social security | 45 | €5,617 | €4,699 | -€918 | -16.3% |
| Taxes | 450/3 | €5,617 | €4,699 | -€918 | -16.3% |
| Other amounts payable | 47/48 | €283,466 | €564,774 | +€281,308 | +99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,071 | €20,787 | +€1,716 | +9.0% |
| Other operating charges | 640/8 | €1,571 | €1,257 | -€314 | -20.0% |
| Gross operating margin | 9900 | €131,413 | €131,937 | +€524 | +0.4% |
| Operating profit (loss) | 9901 | €110,771 | €109,893 | -€878 | -0.8% |
| Financial income | 75/76B | €24,092 | €24,876 | +€785 | +3.3% |
| Recurring financial income | 75 | €24,092 | €24,876 | +€785 | +3.3% |
| Financial charges | 65/66B | €21,435 | €22,991 | +€1,555 | +7.3% |
| Recurring financial charges | 65 | €21,435 | €22,991 | +€1,555 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €113,427 | €111,779 | -€1,649 | -1.5% |
| Income taxes | 67/77 | €37,917 | €37,248 | -€669 | -1.8% |
| Profit (loss) for the period | 9904 | €75,511 | €74,531 | -€980 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,511 | €74,531 | -€980 | -1.3% |
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.