HDX 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.
HDX CONSULTING
Largest movements
- Receivables within one year +€67,795
up €67,795 (+159.6%), from €42,480 to €110,275
of which Trade receivables: +€71,138
- Cash -€51,278
down €51,278 (-28.2%), from €181,589 to €130,311
mainly Contributions, distributions and other (-€71,962) and Receivables within one year (-€67,795)
- Tangible fixed assets -€37,457
down €37,457 (-9.3%), from €402,492 to €365,034
of which Furniture and vehicles: -€31,132
- Current investments -€12,500
down €12,500 (-99.9%), from €12,515 to €16
- Debts after one year -€30,446
down €30,446 (-24.2%), from €125,633 to €95,187
- Other debts -€22,456
down €22,456 (-49.9%), from €44,976 to €22,520
- Tax, wage and social debts +€11,859
up €11,859 (+55.6%), from €21,329 to €33,188
- Gross operating margin +€47,646
up €47,646 (+42.0%), from €113,427 to €161,073
- Taxes +€13,645
up €13,645 (+65.9%), from €20,719 to €34,365
- Financial charges -€4,122
down €4,122 (-32.3%), from €12,749 to €8,626
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 | €651,343 | €615,444 | -€35,898 | -5.5% |
| Fixed assets | 21/28 | €402,517 | €365,059 | -€37,457 | -9.3% |
| Tangible fixed assets | 22/27 | €402,492 | €365,034 | -€37,457 | -9.3% |
| Land and buildings | 22 | €268,433 | €263,184 | -€5,249 | -2.0% |
| Plant, machinery and equipment | 23 | €25,225 | €24,148 | -€1,077 | -4.3% |
| Furniture and vehicles | 24 | €108,834 | €77,702 | -€31,132 | -28.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €248,826 | €250,385 | +€1,559 | +0.6% |
| Amounts receivable within one year | 40/41 | €42,480 | €110,275 | +€67,795 | +159.6% |
| Trade receivables | 40 | €25,197 | €96,335 | +€71,138 | +282.3% |
| Other amounts receivable | 41 | €17,283 | €13,940 | -€3,344 | -19.3% |
| Current investments | 50/53 | €12,515 | €16 | -€12,500 | -99.9% |
| Cash at bank and in hand | 54/58 | €181,589 | €130,311 | -€51,278 | -28.2% |
| Deferred charges and accrued income | 490/1 | €12,242 | €9,785 | -€2,457 | -20.1% |
| Total equity and liabilities | 10/49 | €651,343 | €615,444 | -€35,898 | -5.5% |
| Equity | 10/15 | €344,714 | €347,760 | +€3,046 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €326,114 | €329,160 | +€3,046 | +0.9% |
| Tax-exempt reserves | 132 | €10,949 | €7,882 | -€3,067 | -28.0% |
| Distributable reserves | 133 | €315,165 | €321,278 | +€6,113 | +1.9% |
| Provisions and deferred taxes | 16 | €74,813 | €74,046 | -€767 | -1.0% |
| Provisions for liabilities and charges | 160/5 | €72,076 | €72,076 | = | 0.0% |
| Other liabilities and charges | 164/5 | €72,076 | €72,076 | = | 0.0% |
| Deferred taxes | 168 | €2,737 | €1,970 | -€767 | -28.0% |
| Amounts payable | 17/49 | €231,816 | €193,638 | -€38,178 | -16.5% |
| Amounts payable after more than one year | 17 | €125,633 | €95,187 | -€30,446 | -24.2% |
| Financial debts | 170/4 | €125,633 | €95,187 | -€30,446 | -24.2% |
| Amounts payable within one year | 42/48 | €101,382 | €94,309 | -€7,073 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €29,947 | €30,446 | +€500 | +1.7% |
| Trade debts | 44 | €5,131 | €8,155 | +€3,024 | +58.9% |
| Suppliers | 440/4 | €5,131 | €8,155 | +€3,024 | +58.9% |
| Taxes, remuneration and social security | 45 | €21,329 | €33,188 | +€11,859 | +55.6% |
| Taxes | 450/3 | €21,329 | €33,188 | +€11,859 | +55.6% |
| Other amounts payable | 47/48 | €44,976 | €22,520 | -€22,456 | -49.9% |
| Accrued charges and deferred income | 492/3 | €4,801 | €4,142 | -€658 | -13.7% |
| Non-recurring operating income | 76A | - | €544 | +€544 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,254 | €42,549 | +€295 | +0.7% |
| Other operating charges | 640/8 | €1,893 | €2,111 | +€218 | +11.5% |
| Gross operating margin | 9900 | €113,427 | €161,073 | +€47,646 | +42.0% |
| Operating profit (loss) | 9901 | €69,280 | €116,413 | +€47,133 | +68.0% |
| Financial income | 75/76B | €1,049 | €820 | -€229 | -21.8% |
| Recurring financial income | 75 | €1,049 | €820 | -€229 | -21.8% |
| Financial charges | 65/66B | €12,749 | €8,626 | -€4,122 | -32.3% |
| Recurring financial charges | 65 | €12,749 | €8,626 | -€4,122 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €57,581 | €108,606 | +€51,026 | +88.6% |
| Transfer from deferred taxes | 780 | €767 | €767 | = | 0.0% |
| Income taxes | 67/77 | €20,719 | €34,365 | +€13,645 | +65.9% |
| Profit (loss) for the period | 9904 | €37,628 | €75,009 | +€37,381 | +99.3% |
| Transfer from tax-exempt reserves | 789 | €3,067 | €3,067 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,695 | €78,076 | +€37,381 | +91.9% |
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 9 October 2026 via checked.be.