HDN Transport: what changed
HDN Transport
Largest movements
- Cash -€19,847
down €19,847 (-75.0%), from €26,450 to €6,603
mainly Investment in fixed assets (net) (-€56,187) and Net result for the year (-€20,204)
- Deferred charges and accrued income +€9,119
new in 2025: €9,119
- Receivables after one year +€5,000
up €5,000 (+35.7%), from €14,000 to €19,000
- Tangible fixed assets +€3,382
up €3,382 (+2.5%), from €136,938 to €140,320
of which Furniture and vehicles: +€26,627
- Financial fixed assets +€3,100
up €3,100 (+344%), from €900 to €4,000
- Profit (loss) carried forward -€20,204
down €20,204 (-35.1%), from €57,561 to €37,357
- Debts after one year -€18,879
down €18,879 (-23.4%), from €80,808 to €61,929
- Other debts +€16,278
up €16,278 (+56.7%), from €28,703 to €44,981
- Current portion of long-term debt +€11,017
up €11,017 (+33.0%), from €33,395 to €44,412
- Tax, wage and social debts +€9,662
up €9,662 (+43.1%), from €22,410 to €32,072
of which Remuneration and social security: +€8,866
- Staff costs +€52,576
up €52,576 (+95.4%), from €55,128 to €107,703
- Gross operating margin +€26,160
up €26,160 (+19.6%), from €133,237 to €159,397
- Depreciation +€16,742
up €16,742 (+50.8%), from €32,963 to €49,705
- Taxes -€4,673
down €4,673 (-93.2%), from €5,015 to €342
- Financial charges +€2,699
up €2,699 (+14.9%), from €18,138 to €20,837
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,038 | €244,113 | -€925 | -0.4% |
| Fixed assets | 21/28 | €137,838 | €144,320 | +€6,482 | +4.7% |
| Tangible fixed assets | 22/27 | €136,938 | €140,320 | +€3,382 | +2.5% |
| Plant, machinery and equipment | 23 | €1,828 | €3,966 | +€2,138 | +117% |
| Furniture and vehicles | 24 | - | €26,627 | +€26,627 | |
| Leasing and similar rights | 25 | €135,111 | €109,727 | -€25,383 | -18.8% |
| Financial fixed assets | 28 | €900 | €4,000 | +€3,100 | +344% |
| Current assets | 29/58 | €107,199 | €99,792 | -€7,407 | -6.9% |
| Amounts receivable after more than one year | 29 | €14,000 | €19,000 | +€5,000 | +35.7% |
| Other amounts receivable | 291 | €14,000 | €19,000 | +€5,000 | +35.7% |
| Amounts receivable within one year | 40/41 | €66,749 | €65,071 | -€1,678 | -2.5% |
| Trade receivables | 40 | €66,749 | €65,071 | -€1,678 | -2.5% |
| Cash at bank and in hand | 54/58 | €26,450 | €6,603 | -€19,847 | -75.0% |
| Deferred charges and accrued income | 490/1 | - | €9,119 | +€9,119 | |
| Total equity and liabilities | 10/49 | €245,038 | €244,113 | -€925 | -0.4% |
| Equity | 10/15 | €62,561 | €42,357 | -€20,204 | -32.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,561 | €37,357 | -€20,204 | -35.1% |
| Amounts payable | 17/49 | €182,477 | €201,756 | +€19,280 | +10.6% |
| Amounts payable after more than one year | 17 | €80,808 | €61,929 | -€18,879 | -23.4% |
| Financial debts | 170/4 | €80,808 | €61,929 | -€18,879 | -23.4% |
| Amounts payable within one year | 42/48 | €101,668 | €139,227 | +€37,559 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €33,395 | €44,412 | +€11,017 | +33.0% |
| Financial debts | 43 | €11,000 | €8,100 | -€2,900 | -26.4% |
| Credit institutions | 430/8 | €11,000 | €8,100 | -€2,900 | -26.4% |
| Trade debts | 44 | €6,160 | €9,662 | +€3,502 | +56.9% |
| Suppliers | 440/4 | €6,160 | €9,662 | +€3,502 | +56.9% |
| Taxes, remuneration and social security | 45 | €22,410 | €32,072 | +€9,662 | +43.1% |
| Taxes | 450/3 | €12,977 | €13,772 | +€796 | +6.1% |
| Remuneration and social security | 454/9 | €9,434 | €18,300 | +€8,866 | +94.0% |
| Other amounts payable | 47/48 | €28,703 | €44,981 | +€16,278 | +56.7% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Remuneration, social security and pensions | 62 | €55,128 | €107,703 | +€52,576 | +95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,963 | €49,705 | +€16,742 | +50.8% |
| Other operating charges | 640/8 | €873 | €1,018 | +€145 | +16.6% |
| Non-recurring operating charges | 66A | €1,500 | - | -€1,500 | |
| Gross operating margin | 9900 | €133,237 | €159,397 | +€26,160 | +19.6% |
| Operating profit (loss) | 9901 | €42,773 | €971 | -€41,802 | -97.7% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €18,138 | €20,837 | +€2,699 | +14.9% |
| Recurring financial charges | 65 | €18,138 | €20,837 | +€2,699 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €24,635 | -€19,863 | -€44,498 | |
| Income taxes | 67/77 | €5,015 | €342 | -€4,673 | -93.2% |
| Profit (loss) for the period | 9904 | €19,621 | -€20,204 | -€39,825 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,621 | -€20,204 | -€39,825 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.