HDR SALES: 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.
HDR SALES
Largest movements
- Receivables within one year -€5,252
down €5,252 (-99.0%), from €5,306 to €53
of which Other amounts receivable: -€5,252
- Cash -€4,597
down €4,597 (-26.3%), from €17,476 to €12,879
mainly Net result for the year (-€43,567) and Investment in fixed assets (net) (-€1,750)
- Financial fixed assets +€1,750
new in 2025: €1,750
- Tangible fixed assets -€1,229
down €1,229 (-4.7%), from €26,353 to €25,124
- Profit (loss) carried forward -€43,567
new in 2025: -€43,567
- Tax, wage and social debts +€15,976
up €15,976 (+396%), from €4,038 to €20,014
of which Remuneration and social security: +€18,881
- Other debts +€11,470
up €11,470 (+220%), from €5,210 to €16,680
- Trade debts +€6,792
new in 2025: €6,792
- Gross operating margin -€46,695
down €46,695, from €6,391 to -€40,304
- Taxes -€1,267
down €1,267 (-100%), from €1,267 to €0
- Depreciation +€1,032
up €1,032 (+521%), from €198 to €1,229
- Financial charges +€1,004
up €1,004 (+2,511%), from €40 to €1,044
- Other operating charges +€990
new in 2025: €990
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 | €49,135 | €39,806 | -€9,329 | -19.0% |
| Fixed assets | 21/28 | €26,353 | €26,874 | +€521 | +2.0% |
| Tangible fixed assets | 22/27 | €26,353 | €25,124 | -€1,229 | -4.7% |
| Land and buildings | 22 | €26,353 | €25,124 | -€1,229 | -4.7% |
| Financial fixed assets | 28 | - | €1,750 | +€1,750 | |
| Current assets | 29/58 | €22,782 | €12,932 | -€9,849 | -43.2% |
| Amounts receivable within one year | 40/41 | €5,306 | €53 | -€5,252 | -99.0% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €5,306 | €53 | -€5,252 | -99.0% |
| Cash at bank and in hand | 54/58 | €17,476 | €12,879 | -€4,597 | -26.3% |
| Total equity and liabilities | 10/49 | €49,135 | €39,806 | -€9,329 | -19.0% |
| Equity | 10/15 | €4,887 | -€38,680 | -€43,567 | |
| Reserves | 13 | €4,887 | €4,887 | = | 0.0% |
| Distributable reserves | 133 | €4,887 | €4,887 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€43,567 | -€43,567 | |
| Amounts payable | 17/49 | €44,248 | €78,486 | +€34,238 | +77.4% |
| Amounts payable after more than one year | 17 | €35,000 | €35,000 | = | 0.0% |
| Financial debts | 170/4 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,248 | €43,486 | +€34,238 | +370% |
| Trade debts | 44 | - | €6,792 | +€6,792 | |
| Suppliers | 440/4 | - | €6,792 | +€6,792 | |
| Taxes, remuneration and social security | 45 | €4,038 | €20,014 | +€15,976 | +396% |
| Taxes | 450/3 | €4,038 | €1,133 | -€2,905 | -71.9% |
| Remuneration and social security | 454/9 | - | €18,881 | +€18,881 | |
| Other amounts payable | 47/48 | €5,210 | €16,680 | +€11,470 | +220% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198 | €1,229 | +€1,032 | +521% |
| Other operating charges | 640/8 | - | €990 | +€990 | |
| Gross operating margin | 9900 | €6,391 | -€40,304 | -€46,695 | |
| Operating profit (loss) | 9901 | €6,194 | -€42,523 | -€48,716 | |
| Financial charges | 65/66B | €40 | €1,044 | +€1,004 | +2,511% |
| Recurring financial charges | 65 | €40 | €1,044 | +€1,004 | +2,511% |
| Profit (loss) for the period before taxes | 9903 | €6,154 | -€43,567 | -€49,721 | |
| Income taxes | 67/77 | €1,267 | €0 | -€1,267 | -100% |
| Profit (loss) for the period | 9904 | €4,887 | -€43,567 | -€48,454 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,887 | -€43,567 | -€48,454 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.