HDMS: 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.
HDMS
Largest movements
- Cash +€107,050
up €107,050 (+66.1%), from €161,983 to €269,033
mainly Net result for the year (+€167,174) and Depreciation (+€2,501)
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year +€12,242
up €12,242 (+28.8%), from €42,550 to €54,792
of which Trade receivables: +€10,604
- Profit (loss) carried forward +€167,174
up €167,174 (+103.1%), from €162,151 to €329,325
- Gross operating margin +€4,310
up €4,310 (+2.0%), from €214,038 to €218,348
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 | €215,526 | €383,827 | +€168,301 | +78.1% |
| Fixed assets | 21/28 | €9,630 | €7,129 | -€2,501 | -26.0% |
| Tangible fixed assets | 22/27 | €9,630 | €7,129 | -€2,501 | -26.0% |
| Plant, machinery and equipment | 23 | €2,918 | €2,301 | -€617 | -21.1% |
| Furniture and vehicles | 24 | €6,712 | €4,828 | -€1,884 | -28.1% |
| Current assets | 29/58 | €205,896 | €376,698 | +€170,802 | +83.0% |
| Amounts receivable within one year | 40/41 | €42,550 | €54,792 | +€12,242 | +28.8% |
| Trade receivables | 40 | €22,345 | €32,950 | +€10,604 | +47.5% |
| Other amounts receivable | 41 | €20,205 | €21,842 | +€1,638 | +8.1% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €161,983 | €269,033 | +€107,050 | +66.1% |
| Deferred charges and accrued income | 490/1 | €1,363 | €2,873 | +€1,511 | +110.9% |
| Total equity and liabilities | 10/49 | €215,526 | €383,827 | +€168,301 | +78.1% |
| Equity | 10/15 | €163,151 | €330,325 | +€167,174 | +102.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,151 | €329,325 | +€167,174 | +103.1% |
| Amounts payable | 17/49 | €52,374 | €53,502 | +€1,128 | +2.2% |
| Amounts payable within one year | 42/48 | €52,374 | €53,502 | +€1,128 | +2.2% |
| Trade debts | 44 | €1,095 | €1,749 | +€654 | +59.8% |
| Suppliers | 440/4 | €1,095 | €1,749 | +€654 | +59.8% |
| Taxes, remuneration and social security | 45 | €51,280 | €51,753 | +€473 | +0.9% |
| Taxes | 450/3 | €49,855 | €50,328 | +€473 | +0.9% |
| Remuneration and social security | 454/9 | €1,425 | €1,425 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,808 | €2,501 | +€693 | +38.3% |
| Other operating charges | 640/8 | €606 | €1,108 | +€502 | +82.7% |
| Gross operating margin | 9900 | €214,038 | €218,348 | +€4,310 | +2.0% |
| Operating profit (loss) | 9901 | €211,624 | €214,739 | +€3,116 | +1.5% |
| Financial income | 75/76B | €735 | €2,768 | +€2,034 | +276.9% |
| Recurring financial income | 75 | €735 | €2,768 | +€2,034 | +276.9% |
| Financial charges | 65/66B | €352 | €50 | -€302 | -85.8% |
| Recurring financial charges | 65 | €352 | €50 | -€302 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | €212,006 | €217,458 | +€5,452 | +2.6% |
| Income taxes | 67/77 | €49,855 | €50,284 | +€429 | +0.9% |
| Profit (loss) for the period | 9904 | €162,151 | €167,174 | +€5,023 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €162,151 | €167,174 | +€5,023 | +3.1% |
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 11 October 2026 via checked.be.