HFT: 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.
HFT
Largest movements
- Cash +€19,116
up €19,116 (+92.0%), from €20,785 to €39,901
mainly Depreciation (+€9,015) and Trade debts (+€7,730)
- Tangible fixed assets -€3,505
down €3,505 (-19.6%), from €17,865 to €14,361
of which Furniture and vehicles: -€2,485
- Receivables within one year -€3,503
down €3,503 (-3.2%), from €109,165 to €105,662
of which Trade receivables: -€29,025
- Intangible fixed assets -€1,873
down €1,873 (-47.9%), from €3,907 to €2,034
- Trade debts +€7,730
up €7,730 (+23.7%), from €32,628 to €40,358
- Tax, wage and social debts +€4,155
up €4,155 (+28.6%), from €14,540 to €18,695
- Reserves -€1,649
down €1,649 (-1.9%), from €86,279 to €84,630
of which Non-distributable reserves: -€1,860
- Gross operating margin -€12,536
down €12,536 (-64.5%), from €19,443 to €6,907
- Taxes -€3,939
no longer reported in 2025 (was €3,939)
- Write-downs +€2,226
new in 2025: €2,226
- Financial income -€485
down €485 (-10.1%), from €4,813 to €4,327
- Depreciation +€345
up €345 (+4.0%), from €8,671 to €9,015
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 | €152,047 | €162,283 | +€10,236 | +6.7% |
| Fixed assets | 21/28 | €22,097 | €16,720 | -€5,377 | -24.3% |
| Intangible fixed assets | 21 | €3,907 | €2,034 | -€1,873 | -47.9% |
| Tangible fixed assets | 22/27 | €17,865 | €14,361 | -€3,505 | -19.6% |
| Land and buildings | 22 | €2,436 | €1,822 | -€614 | -25.2% |
| Plant, machinery and equipment | 23 | €9,924 | €9,518 | -€406 | -4.1% |
| Furniture and vehicles | 24 | €5,505 | €3,020 | -€2,485 | -45.1% |
| Financial fixed assets | 28 | €325 | €325 | = | 0.0% |
| Current assets | 29/58 | €129,950 | €145,563 | +€15,614 | +12.0% |
| Amounts receivable within one year | 40/41 | €109,165 | €105,662 | -€3,503 | -3.2% |
| Trade receivables | 40 | €40,832 | €11,807 | -€29,025 | -71.1% |
| Other amounts receivable | 41 | €68,333 | €93,856 | +€25,522 | +37.3% |
| Cash at bank and in hand | 54/58 | €20,785 | €39,901 | +€19,116 | +92.0% |
| Total equity and liabilities | 10/49 | €152,047 | €162,283 | +€10,236 | +6.7% |
| Equity | 10/15 | €104,879 | €103,230 | -€1,649 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,279 | €84,630 | -€1,649 | -1.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €84,419 | €84,630 | +€211 | +0.3% |
| Amounts payable | 17/49 | €47,168 | €59,053 | +€11,885 | +25.2% |
| Amounts payable within one year | 42/48 | €47,168 | €59,053 | +€11,885 | +25.2% |
| Trade debts | 44 | €32,628 | €40,358 | +€7,730 | +23.7% |
| Suppliers | 440/4 | €32,628 | €40,358 | +€7,730 | +23.7% |
| Taxes, remuneration and social security | 45 | €14,540 | €18,695 | +€4,155 | +28.6% |
| Taxes | 450/3 | €14,540 | €18,695 | +€4,155 | +28.6% |
| Non-recurring operating income | 76A | - | €15,692 | +€15,692 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,671 | €9,015 | +€345 | +4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,226 | +€2,226 | |
| Other operating charges | 640/8 | €941 | €703 | -€238 | -25.3% |
| Gross operating margin | 9900 | €19,443 | €6,907 | -€12,536 | -64.5% |
| Operating profit (loss) | 9901 | €9,832 | -€5,037 | -€14,869 | |
| Financial income | 75/76B | €4,813 | €4,327 | -€485 | -10.1% |
| Recurring financial income | 75 | €4,813 | €4,327 | -€485 | -10.1% |
| Financial charges | 65/66B | €728 | €940 | +€212 | +29.1% |
| Recurring financial charges | 65 | €728 | €940 | +€212 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €13,917 | -€1,649 | -€15,566 | |
| Income taxes | 67/77 | €3,939 | - | -€3,939 | |
| Profit (loss) for the period | 9904 | €9,978 | -€1,649 | -€11,626 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,978 | -€1,649 | -€11,626 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.