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
- Tangible fixed assets +€8,856
up €8,856 (+1,287%), from €688 to €9,544
of which Plant, machinery and equipment: +€9,544
- Cash -€6,720
down €6,720 (-39.2%), from €17,155 to €10,435
mainly Investment in fixed assets (net) (-€10,000) and Tax, wage and social debts (-€3,304)
- Receivables within one year -€2,818
down €2,818 (-49.1%), from €5,735 to €2,917
of which Trade receivables: -€3,536
- Deferred charges and accrued income +€590
new in 2025: €590
- Reserves +€15,976
new in 2025: €15,976
- Profit (loss) carried forward -€13,350
no longer reported in 2025 (was €13,350)
- Tax, wage and social debts -€3,304
down €3,304 (-45.8%), from €7,209 to €3,905
- Trade debts +€586
up €586 (+136%), from €429 to €1,015
- Gross operating margin -€13,860
down €13,860 (-71.8%), from €19,303 to €5,443
- Taxes -€4,249
down €4,249 (-77.8%), from €5,461 to €1,212
- Depreciation +€892
up €892 (+353%), from €253 to €1,144
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 | €23,578 | €23,485 | -€93 | -0.4% |
| Fixed assets | 21/28 | €688 | €9,544 | +€8,856 | +1,287% |
| Tangible fixed assets | 22/27 | €688 | €9,544 | +€8,856 | +1,287% |
| Plant, machinery and equipment | 23 | - | €9,544 | +€9,544 | |
| Furniture and vehicles | 24 | €688 | - | -€688 | |
| Current assets | 29/58 | €22,890 | €13,942 | -€8,948 | -39.1% |
| Amounts receivable within one year | 40/41 | €5,735 | €2,917 | -€2,818 | -49.1% |
| Trade receivables | 40 | €4,235 | €699 | -€3,536 | -83.5% |
| Other amounts receivable | 41 | €1,500 | €2,218 | +€718 | +47.8% |
| Cash at bank and in hand | 54/58 | €17,155 | €10,435 | -€6,720 | -39.2% |
| Deferred charges and accrued income | 490/1 | - | €590 | +€590 | |
| Total equity and liabilities | 10/49 | €23,578 | €23,485 | -€93 | -0.4% |
| Equity | 10/15 | €15,350 | €17,976 | +€2,626 | +17.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €15,976 | +€15,976 | |
| Distributable reserves | 133 | - | €15,976 | +€15,976 | |
| Profit (loss) carried forward | 14 | €13,350 | - | -€13,350 | |
| Amounts payable | 17/49 | €8,228 | €5,509 | -€2,719 | -33.0% |
| Amounts payable within one year | 42/48 | €7,638 | €4,919 | -€2,719 | -35.6% |
| Trade debts | 44 | €429 | €1,015 | +€586 | +136% |
| Suppliers | 440/4 | €429 | €1,015 | +€586 | +136% |
| Taxes, remuneration and social security | 45 | €7,209 | €3,905 | -€3,304 | -45.8% |
| Taxes | 450/3 | €7,209 | €3,905 | -€3,304 | -45.8% |
| Accrued charges and deferred income | 492/3 | €590 | €590 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253 | €1,144 | +€892 | +353% |
| Other operating charges | 640/8 | €376 | €368 | -€8 | -2.2% |
| Gross operating margin | 9900 | €19,303 | €5,443 | -€13,860 | -71.8% |
| Operating profit (loss) | 9901 | €18,674 | €3,931 | -€14,743 | -79.0% |
| Financial income | 75/76B | €137 | - | -€137 | |
| Recurring financial income | 75 | €137 | - | -€137 | |
| Financial charges | 65/66B | - | €93 | +€93 | |
| Recurring financial charges | 65 | - | €93 | +€93 | |
| Profit (loss) for the period before taxes | 9903 | €18,811 | €3,838 | -€14,973 | -79.6% |
| Income taxes | 67/77 | €5,461 | €1,212 | -€4,249 | -77.8% |
| Profit (loss) for the period | 9904 | €13,350 | €2,626 | -€10,724 | -80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,350 | €2,626 | -€10,724 | -80.3% |
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 14 October 2026 via checked.be.