HK: 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.
HK
Largest movements
- Cash +€90,609
up €90,609 (+140%), from €64,506 to €155,115
mainly Net result for the year (+€105,151) and Deferred charges and accrued income (+€14,758)
- Receivables within one year +€39,533
up €39,533 (+43.0%), from €91,924 to €131,456
of which Trade receivables: +€32,304
- Deferred charges and accrued income -€14,758
down €14,758 (-92.9%), from €15,887 to €1,128
- Reserves +€105,151
up €105,151 (+111%), from €94,839 to €199,990
of which Distributable reserves: +€105,151
- Tax, wage and social debts +€14,375
up €14,375 (+109%), from €13,142 to €27,517
of which Taxes: +€14,269
- Trade debts -€3,830
down €3,830 (-8.4%), from €45,872 to €42,041
- Gross operating margin +€110,766
up €110,766 (+62.8%), from €176,392 to €287,158
- Taxes +€32,689
up €32,689 (+192%), from €17,056 to €49,745
- Staff costs +€4,342
up €4,342 (+3.8%), from €114,662 to €119,003
- Financial charges +€3,097
up €3,097 (+1,383%), from €224 to €3,321
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 | €184,025 | €299,721 | +€115,696 | +62.9% |
| Fixed assets | 21/28 | €11,709 | €12,021 | +€313 | +2.7% |
| Tangible fixed assets | 22/27 | €10,609 | €12,021 | +€1,413 | +13.3% |
| Plant, machinery and equipment | 23 | €2,088 | €1,070 | -€1,018 | -48.8% |
| Furniture and vehicles | 24 | €6,216 | €8,979 | +€2,763 | +44.4% |
| Other tangible fixed assets | 26 | €2,305 | €1,973 | -€332 | -14.4% |
| Financial fixed assets | 28 | €1,100 | €0 | -€1,100 | -100% |
| Current assets | 29/58 | €172,316 | €287,699 | +€115,383 | +67.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €91,924 | €131,456 | +€39,533 | +43.0% |
| Trade receivables | 40 | €50,129 | €82,433 | +€32,304 | +64.4% |
| Other amounts receivable | 41 | €41,795 | €49,024 | +€7,228 | +17.3% |
| Cash at bank and in hand | 54/58 | €64,506 | €155,115 | +€90,609 | +140% |
| Deferred charges and accrued income | 490/1 | €15,887 | €1,128 | -€14,758 | -92.9% |
| Total equity and liabilities | 10/49 | €184,025 | €299,721 | +€115,696 | +62.9% |
| Equity | 10/15 | €125,011 | €230,162 | +€105,151 | +84.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,839 | €199,990 | +€105,151 | +111% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €92,979 | €198,130 | +€105,151 | +113% |
| Profit (loss) carried forward | 14 | €11,572 | €11,572 | = | 0.0% |
| Amounts payable | 17/49 | €59,014 | €69,558 | +€10,545 | +17.9% |
| Amounts payable within one year | 42/48 | €59,014 | €69,558 | +€10,545 | +17.9% |
| Trade debts | 44 | €45,872 | €42,041 | -€3,830 | -8.4% |
| Suppliers | 440/4 | €45,872 | €42,041 | -€3,830 | -8.4% |
| Taxes, remuneration and social security | 45 | €13,142 | €27,517 | +€14,375 | +109% |
| Taxes | 450/3 | €11,361 | €25,629 | +€14,269 | +126% |
| Remuneration and social security | 454/9 | €1,781 | €1,888 | +€107 | +6.0% |
| Remuneration, social security and pensions | 62 | €114,662 | €119,003 | +€4,342 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,787 | €4,791 | -€1,996 | -29.4% |
| Other operating charges | 640/8 | €8,980 | €6,972 | -€2,009 | -22.4% |
| Gross operating margin | 9900 | €176,392 | €287,158 | +€110,766 | +62.8% |
| Operating profit (loss) | 9901 | €45,962 | €156,392 | +€110,429 | +240% |
| Financial income | 75/76B | €1,043 | €1,825 | +€782 | +74.9% |
| Recurring financial income | 75 | €1,043 | €1,825 | +€782 | +74.9% |
| Financial charges | 65/66B | €224 | €3,321 | +€3,097 | +1,383% |
| Recurring financial charges | 65 | €224 | €3,321 | +€3,097 | +1,383% |
| Profit (loss) for the period before taxes | 9903 | €46,782 | €154,896 | +€108,114 | +231% |
| Income taxes | 67/77 | €17,056 | €49,745 | +€32,689 | +192% |
| Profit (loss) for the period | 9904 | €29,726 | €105,151 | +€75,425 | +254% |
| Profit (loss) for the period to be appropriated | 9905 | €29,726 | €105,151 | +€75,425 | +254% |
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 21 October 2026 via checked.be.