HLF Management: 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.
HLF Management
Largest movements
- Cash +€218,459
up €218,459 (+127,866%), from €171 to €218,630
mainly Receivables within one year (+€165,387) and Net result for the year (+€68,065)
- Receivables within one year -€165,387
down €165,387 (-39.9%), from €414,744 to €249,356
of which Trade receivables: -€167,250
- Tangible fixed assets -€28,648
down €28,648 (-6.2%), from €463,534 to €434,887
of which Land and buildings: -€28,291
- Reserves +€67,232
up €67,232 (+14.0%), from €481,520 to €548,752
of which Distributable reserves: +€69,232
- Debts after one year -€52,748
down €52,748 (-19.2%), from €274,088 to €221,340
- Depreciation -€9,508
down €9,508 (-24.9%), from €38,155 to €28,648
- Gross operating margin +€9,466
up €9,466 (+7.3%), from €130,455 to €139,921
- Taxes +€5,607
up €5,607 (+26.0%), from €21,562 to €27,169
- Financial charges -€2,919
down €2,919 (-21.4%), from €13,664 to €10,744
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 | €881,143 | €905,690 | +€24,547 | +2.8% |
| Fixed assets | 21/28 | €463,534 | €434,887 | -€28,648 | -6.2% |
| Tangible fixed assets | 22/27 | €463,534 | €434,887 | -€28,648 | -6.2% |
| Land and buildings | 22 | €462,514 | €434,224 | -€28,291 | -6.1% |
| Furniture and vehicles | 24 | €1,020 | €663 | -€357 | -35.0% |
| Current assets | 29/58 | €417,609 | €470,803 | +€53,195 | +12.7% |
| Amounts receivable within one year | 40/41 | €414,744 | €249,356 | -€165,387 | -39.9% |
| Trade receivables | 40 | €411,750 | €244,500 | -€167,250 | -40.6% |
| Other amounts receivable | 41 | €2,994 | €4,856 | +€1,863 | +62.2% |
| Cash at bank and in hand | 54/58 | €171 | €218,630 | +€218,459 | +127,866% |
| Deferred charges and accrued income | 490/1 | €2,694 | €2,817 | +€123 | +4.6% |
| Total equity and liabilities | 10/49 | €881,143 | €905,690 | +€24,547 | +2.8% |
| Equity | 10/15 | €514,974 | €582,206 | +€67,232 | +13.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €13,454 | €13,454 | = | 0.0% |
| Reserves | 13 | €481,520 | €548,752 | +€67,232 | +14.0% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Tax-exempt reserves | 132 | €56 | €56 | = | 0.0% |
| Distributable reserves | 133 | €479,464 | €548,696 | +€69,232 | +14.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €366,169 | €323,484 | -€42,685 | -11.7% |
| Amounts payable after more than one year | 17 | €274,088 | €221,340 | -€52,748 | -19.2% |
| Financial debts | 170/4 | €274,088 | €221,340 | -€52,748 | -19.2% |
| Amounts payable within one year | 42/48 | €88,155 | €98,986 | +€10,831 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €53,226 | €52,748 | -€478 | -0.9% |
| Trade debts | 44 | €2,675 | €7,169 | +€4,494 | +168% |
| Suppliers | 440/4 | €2,675 | €7,169 | +€4,494 | +168% |
| Taxes, remuneration and social security | 45 | €5,225 | €6,723 | +€1,499 | +28.7% |
| Taxes | 450/3 | €5,225 | €6,723 | +€1,499 | +28.7% |
| Other amounts payable | 47/48 | €27,029 | €32,345 | +€5,316 | +19.7% |
| Accrued charges and deferred income | 492/3 | €3,926 | €3,159 | -€768 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,155 | €28,648 | -€9,508 | -24.9% |
| Other operating charges | 640/8 | €4,827 | €5,295 | +€468 | +9.7% |
| Gross operating margin | 9900 | €130,455 | €139,921 | +€9,466 | +7.3% |
| Operating profit (loss) | 9901 | €87,472 | €105,978 | +€18,506 | +21.2% |
| Financial charges | 65/66B | €13,664 | €10,744 | -€2,919 | -21.4% |
| Recurring financial charges | 65 | €13,664 | €10,744 | -€2,919 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €73,809 | €95,234 | +€21,425 | +29.0% |
| Income taxes | 67/77 | €21,562 | €27,169 | +€5,607 | +26.0% |
| Profit (loss) for the period | 9904 | €52,246 | €68,065 | +€15,818 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,246 | €68,065 | +€15,818 | +30.3% |
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 23 October 2026 via checked.be.