Hilmar Rode: 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.
Hilmar Rode
Largest movements
- Current investments +€4.1m
new in 2025: €4.1m
- Receivables after one year +€736,568
up €736,568 (+9.8%), from €7.5m to €8.3m
- Cash +€214,201
up €214,201 (+93.3%), from €229,635 to €443,836
mainly Net result for the year (+€4.0m) and Tax, wage and social debts (+€1.1m)
- Profit (loss) carried forward +€4.0m
up €4.0m (+76.0%), from €5.2m to €9.2m
- Tax, wage and social debts +€1.1m
up €1.1m (+54.5%), from €2.0m to €3.1m
of which Taxes: +€1.1m
- Gross operating margin -€1.7m
down €1.7m (-24.3%), from €6.9m to €5.2m
- Taxes -€414,979
down €414,979 (-24.0%), from €1.7m to €1.3m
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 | €7,764,367 | €12,826,925 | +€5.1m | +65.2% |
| Fixed assets | 21/28 | - | €27,624 | +€27,624 | |
| Tangible fixed assets | 22/27 | - | €27,624 | +€27,624 | |
| Furniture and vehicles | 24 | - | €27,624 | +€27,624 | |
| Current assets | 29/58 | €7,764,367 | €12,799,301 | +€5.0m | +64.8% |
| Amounts receivable after more than one year | 29 | €7,534,731 | €8,271,299 | +€736,568 | +9.8% |
| Other amounts receivable | 291 | €7,534,731 | €8,271,299 | +€736,568 | +9.8% |
| Current investments | 50/53 | - | €4,084,166 | +€4.1m | |
| Cash at bank and in hand | 54/58 | €229,635 | €443,836 | +€214,201 | +93.3% |
| Total equity and liabilities | 10/49 | €7,764,367 | €12,826,925 | +€5.1m | +65.2% |
| Equity | 10/15 | €5,751,247 | €9,705,441 | +€4.0m | +68.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €545,000 | €545,000 | = | 0.0% |
| Distributable reserves | 133 | €545,000 | €545,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,203,247 | €9,157,441 | +€4.0m | +76.0% |
| Amounts payable | 17/49 | €2,013,120 | €3,121,484 | +€1.1m | +55.1% |
| Amounts payable within one year | 42/48 | €2,013,120 | €3,121,484 | +€1.1m | +55.1% |
| Trade debts | 44 | €10,536 | €1,591 | -€8,945 | -84.9% |
| Suppliers | 440/4 | €10,536 | €1,591 | -€8,945 | -84.9% |
| Taxes, remuneration and social security | 45 | €2,002,111 | €3,092,869 | +€1.1m | +54.5% |
| Taxes | 450/3 | €2,002,111 | €3,064,503 | +€1.1m | +53.1% |
| Remuneration and social security | 454/9 | - | €28,366 | +€28,366 | |
| Other amounts payable | 47/48 | €473 | €27,023 | +€26,550 | +5609.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,097 | +€1,097 | |
| Other operating charges | 640/8 | €169 | €186 | +€16 | +9.7% |
| Gross operating margin | 9900 | €6,931,378 | €5,244,324 | -€1.7m | -24.3% |
| Operating profit (loss) | 9901 | €6,931,209 | €5,243,041 | -€1.7m | -24.4% |
| Financial income | 75/76B | - | €27,110 | +€27,110 | |
| Recurring financial income | 75 | - | €27,110 | +€27,110 | |
| Financial charges | 65/66B | €104 | €900 | +€797 | +770.0% |
| Recurring financial charges | 65 | €104 | €900 | +€797 | +770.0% |
| Profit (loss) for the period before taxes | 9903 | €6,931,105 | €5,269,251 | -€1.7m | -24.0% |
| Income taxes | 67/77 | €1,730,035 | €1,315,057 | -€414,979 | -24.0% |
| Profit (loss) for the period | 9904 | €5,201,070 | €3,954,194 | -€1.2m | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,201,070 | €3,954,194 | -€1.2m | -24.0% |
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 11 October 2026 via checked.be.