HKH: what changed
Two fiscal 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.
HKH
Largest movements
- Tangible fixed assets -€9,739
down €9,739 (-31.8%), from €30,664 to €20,926
of which Furniture and vehicles: -€11,889
- Receivables within one year +€3,935
up €3,935 (+151.9%), from €2,591 to €6,526
of which Trade receivables: +€5,740
- Financial fixed assets -€2,200
no longer reported in 2025 (was €2,200)
- Cash +€1,111
up €1,111 (+78.0%), from €1,424 to €2,535
mainly Trade debts (+€12,160) and Investment in fixed assets (net) (+€6,048)
- Stocks and contracts -€600
no longer reported in 2025 (was €600)
- Trade debts +€12,160
up €12,160 (+665.7%), from €1,827 to €13,987
- Profit (loss) carried forward -€9,959
down €9,959 (-81.1%), from -€12,274 to -€22,232
- Other debts -€9,899
down €9,899 (-21.3%), from €46,567 to €36,668
- Gross operating margin +€13,258
up €13,258, from -€9,842 to €3,416
- Depreciation +€4,492
up €4,492 (+321.2%), from €1,399 to €5,890
- Other operating charges +€1,022
new in 2025: €1,022
- Financial charges -€777
down €777 (-80.4%), from €966 to €189
- Taxes +€111
up €111 (+158.1%), from €71 to €182
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 | €38,001 | €30,125 | -€7,876 | -20.7% |
| Fixed assets | 21/28 | €32,864 | €20,926 | -€11,939 | -36.3% |
| Tangible fixed assets | 22/27 | €30,664 | €20,926 | -€9,739 | -31.8% |
| Plant, machinery and equipment | 23 | €3,007 | €5,158 | +€2,151 | +71.5% |
| Furniture and vehicles | 24 | €27,657 | €15,767 | -€11,889 | -43.0% |
| Financial fixed assets | 28 | €2,200 | - | -€2,200 | |
| Current assets | 29/58 | €5,137 | €9,200 | +€4,063 | +79.1% |
| Stocks and contracts in progress | 3 | €600 | - | -€600 | |
| Stocks | 30/36 | €600 | - | -€600 | |
| Amounts receivable within one year | 40/41 | €2,591 | €6,526 | +€3,935 | +151.9% |
| Trade receivables | 40 | €643 | €6,383 | +€5,740 | +892.5% |
| Other amounts receivable | 41 | €1,948 | €143 | -€1,805 | -92.7% |
| Cash at bank and in hand | 54/58 | €1,424 | €2,535 | +€1,111 | +78.0% |
| Deferred charges and accrued income | 490/1 | €522 | €138 | -€383 | -73.5% |
| Total equity and liabilities | 10/49 | €38,001 | €30,125 | -€7,876 | -20.7% |
| Equity | 10/15 | -€10,774 | -€20,732 | -€9,959 | -92.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,274 | -€22,232 | -€9,959 | -81.1% |
| Amounts payable | 17/49 | €48,775 | €50,857 | +€2,083 | +4.3% |
| Amounts payable within one year | 42/48 | €48,775 | €50,857 | +€2,083 | +4.3% |
| Trade debts | 44 | €1,827 | €13,987 | +€12,160 | +665.7% |
| Suppliers | 440/4 | €1,827 | €13,987 | +€12,160 | +665.7% |
| Taxes, remuneration and social security | 45 | €381 | €203 | -€178 | -46.8% |
| Taxes | 450/3 | €381 | €203 | -€178 | -46.8% |
| Other amounts payable | 47/48 | €46,567 | €36,668 | -€9,899 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,399 | €5,890 | +€4,492 | +321.2% |
| Other operating charges | 640/8 | - | €1,022 | +€1,022 | |
| Non-recurring operating charges | 66A | - | €6,093 | +€6,093 | |
| Gross operating margin | 9900 | -€9,842 | €3,416 | +€13,258 | |
| Operating profit (loss) | 9901 | -€11,241 | -€9,589 | +€1,651 | +14.7% |
| Financial income | 75/76B | €3 | €2 | -€1 | -34.6% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -34.6% |
| Financial charges | 65/66B | €966 | €189 | -€777 | -80.4% |
| Recurring financial charges | 65 | €966 | €189 | -€777 | -80.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,203 | -€9,777 | +€2,427 | +19.9% |
| Income taxes | 67/77 | €71 | €182 | +€111 | +158.1% |
| Profit (loss) for the period | 9904 | -€12,274 | -€9,959 | +€2,315 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,274 | -€9,959 | +€2,315 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.