HDW Consulting: 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 Consulting
Largest movements
- Cash +€96,981
up €96,981 (+3,956%), from €2,452 to €99,433
mainly Other debts (+€100,962) and Depreciation (+€15,003)
- Tangible fixed assets -€12,618
down €12,618 (-39.6%), from €31,850 to €19,232
of which Other tangible fixed assets: -€10,260
- Stocks and contracts -€3,054
down €3,054 (-26.1%), from €11,721 to €8,667
- Other debts +€100,962
up €100,962 (+163%), from €61,914 to €162,876
- Profit (loss) carried forward -€21,509
down €21,509 (-95.5%), from -€22,533 to -€44,043
- Trade debts +€2,425
new in 2025: €2,425
- Depreciation +€6,460
up €6,460 (+75.6%), from €8,543 to €15,003
- Gross operating margin -€4,784
down €4,784 (-460%), from -€1,040 to -€5,824
- Financial income -€260
down €260 (-91.9%), from €283 to €23
- Financial charges -€96
down €96 (-38.3%), from €252 to €156
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 | €46,196 | €128,182 | +€81,986 | +177% |
| Fixed assets | 21/28 | €31,902 | €19,284 | -€12,618 | -39.6% |
| Tangible fixed assets | 22/27 | €31,850 | €19,232 | -€12,618 | -39.6% |
| Plant, machinery and equipment | 23 | €3,278 | €2,185 | -€1,093 | -33.3% |
| Furniture and vehicles | 24 | €4,765 | €3,501 | -€1,264 | -26.5% |
| Other tangible fixed assets | 26 | €23,806 | €13,546 | -€10,260 | -43.1% |
| Financial fixed assets | 28 | €52 | €52 | = | 0.0% |
| Current assets | 29/58 | €14,294 | €108,898 | +€94,604 | +662% |
| Stocks and contracts in progress | 3 | €11,721 | €8,667 | -€3,054 | -26.1% |
| Stocks | 30/36 | €11,721 | €8,667 | -€3,054 | -26.1% |
| Amounts receivable within one year | 40/41 | €121 | - | -€121 | |
| Trade receivables | 40 | €121 | - | -€121 | |
| Cash at bank and in hand | 54/58 | €2,452 | €99,433 | +€96,981 | +3,956% |
| Deferred charges and accrued income | 490/1 | - | €799 | +€799 | |
| Total equity and liabilities | 10/49 | €46,196 | €128,182 | +€81,986 | +177% |
| Equity | 10/15 | -€18,533 | -€40,043 | -€21,509 | -116% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,533 | -€44,043 | -€21,509 | -95.5% |
| Amounts payable | 17/49 | €64,729 | €168,225 | +€103,496 | +160% |
| Amounts payable within one year | 42/48 | €64,707 | €168,225 | +€103,518 | +160% |
| Trade debts | 44 | - | €2,425 | +€2,425 | |
| Suppliers | 440/4 | - | €2,425 | +€2,425 | |
| Taxes, remuneration and social security | 45 | €2,793 | €2,925 | +€132 | +4.7% |
| Taxes | 450/3 | €2,793 | €2,925 | +€132 | +4.7% |
| Other amounts payable | 47/48 | €61,914 | €162,876 | +€100,962 | +163% |
| Accrued charges and deferred income | 492/3 | €23 | - | -€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,543 | €15,003 | +€6,460 | +75.6% |
| Other operating charges | 640/8 | €569 | €550 | -€19 | -3.3% |
| Gross operating margin | 9900 | -€1,040 | -€5,824 | -€4,784 | -460% |
| Operating profit (loss) | 9901 | -€10,153 | -€21,377 | -€11,224 | -111% |
| Financial income | 75/76B | €283 | €23 | -€260 | -91.9% |
| Recurring financial income | 75 | €283 | €23 | -€260 | -91.9% |
| Financial charges | 65/66B | €252 | €156 | -€96 | -38.3% |
| Recurring financial charges | 65 | €252 | €156 | -€96 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,122 | -€21,509 | -€11,388 | -113% |
| Profit (loss) for the period | 9904 | -€10,122 | -€21,509 | -€11,388 | -113% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,122 | -€21,509 | -€11,388 | -113% |
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 16 October 2026 via checked.be.