HDS: 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.
HDS
Largest movements
- Cash +€18,354
up €18,354 (+54.5%), from €33,696 to €52,051
mainly Depreciation (+€11,995) and Net result for the year (+€9,466)
- Tangible fixed assets -€8,614
down €8,614 (-29.0%), from €29,682 to €21,067
of which Furniture and vehicles: -€4,638
- Profit (loss) carried forward +€9,466
up €9,466, from -€6,341 to €3,125
- Other debts +€867
up €867 (+3.0%), from €29,279 to €30,146
- Tax, wage and social debts +€811
up €811 (+28.7%), from €2,830 to €3,641
of which Taxes: +€811
- Gross operating margin +€15,613
up €15,613 (+185%), from €8,443 to €24,056
- Taxes +€1,998
up €1,998 (+1,453%), from €138 to €2,136
- Financial charges -€615
down €615 (-72.9%), from €843 to €228
- Financial income -€326
no longer reported in 2025 (was €326)
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 | €65,872 | €76,367 | +€10,494 | +15.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €29,682 | €21,067 | -€8,614 | -29.0% |
| Tangible fixed assets | 22/27 | €29,682 | €21,067 | -€8,614 | -29.0% |
| Plant, machinery and equipment | 23 | €14,786 | €10,809 | -€3,977 | -26.9% |
| Furniture and vehicles | 24 | €14,896 | €10,258 | -€4,638 | -31.1% |
| Current assets | 29/58 | €36,190 | €55,299 | +€19,109 | +52.8% |
| Amounts receivable within one year | 40/41 | €2,494 | €3,249 | +€754 | +30.2% |
| Trade receivables | 40 | €2,494 | €3,249 | +€754 | +30.2% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €33,696 | €52,051 | +€18,354 | +54.5% |
| Total equity and liabilities | 10/49 | €65,872 | €76,367 | +€10,494 | +15.9% |
| Equity | 10/15 | €33,064 | €42,530 | +€9,466 | +28.6% |
| Contributions | 10/11 | €14,400 | €14,400 | = | 0.0% |
| Reserves | 13 | €25,005 | €25,005 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €23,005 | €23,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,341 | €3,125 | +€9,466 | |
| Amounts payable | 17/49 | €32,808 | €33,837 | +€1,029 | +3.1% |
| Amounts payable within one year | 42/48 | €32,808 | €33,837 | +€1,029 | +3.1% |
| Trade debts | 44 | €700 | €50 | -€650 | -92.9% |
| Suppliers | 440/4 | €700 | €50 | -€650 | -92.9% |
| Taxes, remuneration and social security | 45 | €2,830 | €3,641 | +€811 | +28.7% |
| Taxes | 450/3 | €2,380 | €3,191 | +€811 | +34.1% |
| Remuneration and social security | 454/9 | €450 | €450 | = | 0.0% |
| Other amounts payable | 47/48 | €29,279 | €30,146 | +€867 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,793 | €11,995 | +€202 | +1.7% |
| Other operating charges | 640/8 | €85 | €232 | +€147 | +173% |
| Gross operating margin | 9900 | €8,443 | €24,056 | +€15,613 | +185% |
| Operating profit (loss) | 9901 | -€3,435 | €11,829 | +€15,265 | |
| Financial income | 75/76B | €326 | - | -€326 | |
| Recurring financial income | 75 | €326 | - | -€326 | |
| Financial charges | 65/66B | €843 | €228 | -€615 | -72.9% |
| Recurring financial charges | 65 | €843 | €228 | -€615 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,952 | €11,601 | +€15,553 | |
| Income taxes | 67/77 | €138 | €2,136 | +€1,998 | +1,453% |
| Profit (loss) for the period | 9904 | -€4,090 | €9,466 | +€13,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,090 | €9,466 | +€13,555 |
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 31 October 2026 via checked.be.