HDW-CONSULT: 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.
HDW-CONSULT
Largest movements
- Tangible fixed assets -€24,400
down €24,400 (-9.5%), from €257,959 to €233,559
of which Leasing and similar rights: -€15,868
- Debts after one year -€21,975
down €21,975 (-38.4%), from €57,244 to €35,269
- Reserves +€17,196
up €17,196 (+9.9%), from €173,348 to €190,544
- Current portion of long-term debt -€5,864
down €5,864 (-19.0%), from €30,880 to €25,016
- Tax, wage and social debts -€4,617
down €4,617 (-46.8%), from €9,876 to €5,259
of which Remuneration and social security: -€4,728
- Trade debts -€4,035
down €4,035 (-43.8%), from €9,210 to €5,175
- Gross operating margin +€12,413
up €12,413 (+25.7%), from €48,353 to €60,766
- Taxes +€3,686
up €3,686 (+66.9%), from €5,511 to €9,197
- Financial charges -€992
down €992 (-27.1%), from €3,657 to €2,665
- Depreciation +€904
up €904 (+3.6%), from €25,083 to €25,987
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 | €357,240 | €336,021 | -€21,219 | -5.9% |
| Fixed assets | 21/28 | €257,959 | €233,559 | -€24,400 | -9.5% |
| Tangible fixed assets | 22/27 | €257,959 | €233,559 | -€24,400 | -9.5% |
| Land and buildings | 22 | €190,623 | €181,808 | -€8,815 | -4.6% |
| Plant, machinery and equipment | 23 | €994 | €682 | -€312 | -31.4% |
| Furniture and vehicles | 24 | €2,090 | €2,685 | +€595 | +28.5% |
| Leasing and similar rights | 25 | €64,252 | €48,384 | -€15,868 | -24.7% |
| Current assets | 29/58 | €99,281 | €102,462 | +€3,181 | +3.2% |
| Amounts receivable within one year | 40/41 | €26,408 | €27,464 | +€1,056 | +4.0% |
| Trade receivables | 40 | €22,065 | €16,941 | -€5,124 | -23.2% |
| Other amounts receivable | 41 | €4,343 | €10,522 | +€6,179 | +142.3% |
| Cash at bank and in hand | 54/58 | €71,926 | €73,977 | +€2,051 | +2.9% |
| Deferred charges and accrued income | 490/1 | €947 | €1,021 | +€74 | +7.8% |
| Total equity and liabilities | 10/49 | €357,240 | €336,021 | -€21,219 | -5.9% |
| Equity | 10/15 | €221,171 | €238,368 | +€17,197 | +7.8% |
| Contributions | 10/11 | €47,600 | €47,600 | = | 0.0% |
| Reserves | 13 | €173,348 | €190,544 | +€17,196 | +9.9% |
| Distributable reserves | 133 | €173,348 | €190,544 | +€17,196 | +9.9% |
| Profit (loss) carried forward | 14 | €223 | €223 | +€0 | +0.2% |
| Amounts payable | 17/49 | €136,069 | €97,653 | -€38,416 | -28.2% |
| Amounts payable after more than one year | 17 | €57,244 | €35,269 | -€21,975 | -38.4% |
| Financial debts | 170/4 | €57,244 | €35,269 | -€21,975 | -38.4% |
| Amounts payable within one year | 42/48 | €78,825 | €62,384 | -€16,441 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €30,880 | €25,016 | -€5,864 | -19.0% |
| Trade debts | 44 | €9,210 | €5,175 | -€4,035 | -43.8% |
| Suppliers | 440/4 | €9,210 | €5,175 | -€4,035 | -43.8% |
| Taxes, remuneration and social security | 45 | €9,876 | €5,259 | -€4,617 | -46.8% |
| Taxes | 450/3 | €3,648 | €3,759 | +€111 | +3.0% |
| Remuneration and social security | 454/9 | €6,228 | €1,500 | -€4,728 | -75.9% |
| Other amounts payable | 47/48 | €28,859 | €26,934 | -€1,925 | -6.7% |
| Non-recurring operating income | 76A | €5,873 | - | -€5,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,083 | €25,987 | +€904 | +3.6% |
| Other operating charges | 640/8 | €5,659 | €5,720 | +€61 | +1.1% |
| Gross operating margin | 9900 | €48,353 | €60,766 | +€12,413 | +25.7% |
| Operating profit (loss) | 9901 | €17,611 | €29,059 | +€11,448 | +65.0% |
| Financial income | 75/76B | €100 | - | -€100 | |
| Recurring financial income | 75 | €100 | - | -€100 | |
| Financial charges | 65/66B | €3,657 | €2,665 | -€992 | -27.1% |
| Recurring financial charges | 65 | €3,657 | €2,665 | -€992 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €14,054 | €26,394 | +€12,340 | +87.8% |
| Income taxes | 67/77 | €5,511 | €9,197 | +€3,686 | +66.9% |
| Profit (loss) for the period | 9904 | €8,543 | €17,197 | +€8,654 | +101.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,543 | €17,197 | +€8,654 | +101.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.