HDM Technical Solutions: what changed
Two fiscal 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 Technical Solutions
Largest movements
- Cash +€34,302
up €34,302 (+79.1%), from €43,360 to €77,662
mainly Net result for the year (+€17,382) and Depreciation (+€8,546)
- Stocks and contracts -€7,094
no longer reported in 2025 (was €7,094)
- Tangible fixed assets -€7,093
down €7,093 (-29.2%), from €24,323 to €17,230
- Reserves +€17,382
up €17,382 (+28.1%), from €61,779 to €79,162
- Tax, wage and social debts +€7,243
up €7,243 (+39.8%), from €18,182 to €25,426
of which Taxes: +€6,536
- Current portion of long-term debt -€2,069
down €2,069 (-56.6%), from €3,658 to €1,589
- Debts after one year -€1,903
down €1,903 (-78.8%), from €2,415 to €512
- Gross operating margin -€57,175
down €57,175 (-62.0%), from €92,248 to €35,072
- Taxes -€9,846
down €9,846 (-60.1%), from €16,382 to €6,536
- Staff costs -€2,349
no longer reported in 2025 (was €2,349)
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.
Cash bridge derived
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 | €89,276 | €109,339 | +€20,063 | +22.5% |
| Fixed assets | 21/28 | €24,323 | €17,230 | -€7,093 | -29.2% |
| Tangible fixed assets | 22/27 | €24,323 | €17,230 | -€7,093 | -29.2% |
| Furniture and vehicles | 24 | €24,323 | €17,230 | -€7,093 | -29.2% |
| Current assets | 29/58 | €64,953 | €92,109 | +€27,156 | +41.8% |
| Stocks and contracts in progress | 3 | €7,094 | - | -€7,094 | |
| Contracts in progress | 37 | €7,094 | - | -€7,094 | |
| Amounts receivable within one year | 40/41 | €14,346 | €14,270 | -€77 | -0.5% |
| Trade receivables | 40 | €12,273 | €11,909 | -€364 | -3.0% |
| Other amounts receivable | 41 | €2,073 | €2,361 | +€288 | +13.9% |
| Cash at bank and in hand | 54/58 | €43,360 | €77,662 | +€34,302 | +79.1% |
| Deferred charges and accrued income | 490/1 | €153 | €177 | +€25 | +16.1% |
| Total equity and liabilities | 10/49 | €89,276 | €109,339 | +€20,063 | +22.5% |
| Equity | 10/15 | €64,279 | €81,662 | +€17,382 | +27.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €61,779 | €79,162 | +€17,382 | +28.1% |
| Distributable reserves | 133 | €61,779 | €79,162 | +€17,382 | +28.1% |
| Amounts payable | 17/49 | €24,997 | €27,678 | +€2,681 | +10.7% |
| Amounts payable after more than one year | 17 | €2,415 | €512 | -€1,903 | -78.8% |
| Financial debts | 170/4 | €2,415 | €512 | -€1,903 | -78.8% |
| Amounts payable within one year | 42/48 | €22,582 | €27,165 | +€4,584 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €3,658 | €1,589 | -€2,069 | -56.6% |
| Trade debts | 44 | €741 | €151 | -€590 | -79.7% |
| Suppliers | 440/4 | €741 | €151 | -€590 | -79.7% |
| Taxes, remuneration and social security | 45 | €18,182 | €25,426 | +€7,243 | +39.8% |
| Taxes | 450/3 | €16,382 | €22,918 | +€6,536 | +39.9% |
| Remuneration and social security | 454/9 | €1,800 | €2,508 | +€708 | +39.3% |
| Remuneration, social security and pensions | 62 | €2,349 | - | -€2,349 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,944 | €8,546 | -€397 | -4.4% |
| Other operating charges | 640/8 | €2,343 | €2,125 | -€218 | -9.3% |
| Gross operating margin | 9900 | €92,248 | €35,072 | -€57,175 | -62.0% |
| Operating profit (loss) | 9901 | €78,612 | €24,401 | -€54,210 | -69.0% |
| Financial income | 75/76B | €345 | €54 | -€291 | -84.2% |
| Recurring financial income | 75 | €345 | €54 | -€291 | -84.2% |
| Financial charges | 65/66B | €795 | €538 | -€258 | -32.4% |
| Recurring financial charges | 65 | €795 | €538 | -€258 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €78,161 | €23,918 | -€54,243 | -69.4% |
| Income taxes | 67/77 | €16,382 | €6,536 | -€9,846 | -60.1% |
| Profit (loss) for the period | 9904 | €61,779 | €17,382 | -€44,397 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,779 | €17,382 | -€44,397 | -71.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.