HLK: 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.
HLK
Largest movements
- Receivables within one year +€305,262
up €305,262 (+1069.6%), from €28,539 to €333,801
of which Other amounts receivable: +€288,702
- Tangible fixed assets -€71,126
down €71,126 (-24.5%), from €290,128 to €219,001
- Stocks and contracts -€13,717
down €13,717 (-7.1%), from €194,115 to €180,397
- Cash +€9,477
up €9,477 (+63.2%), from €15,000 to €24,477
mainly Trade debts (+€327,010) and Depreciation (+€77,143)
- Trade debts +€327,010
up €327,010 (+107.5%), from €304,319 to €631,329
- Profit (loss) carried forward -€48,223
down €48,223 (-37.2%), from -€129,502 to -€177,726
- Debts after one year -€44,216
down €44,216 (-18.0%), from €245,618 to €201,402
- Depreciation -€7,014
down €7,014 (-8.3%), from €84,157 to €77,143
- Financial charges -€4,316
down €4,316 (-22.0%), from €19,628 to €15,312
- Gross operating margin -€3,663
down €3,663 (-1.6%), from €225,156 to €221,492
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 | €528,617 | €760,421 | +€231,804 | +43.9% |
| Fixed assets | 21/28 | €290,128 | €219,001 | -€71,126 | -24.5% |
| Tangible fixed assets | 22/27 | €290,128 | €219,001 | -€71,126 | -24.5% |
| Plant, machinery and equipment | 23 | €290,128 | €219,001 | -€71,126 | -24.5% |
| Current assets | 29/58 | €238,489 | €541,420 | +€302,930 | +127.0% |
| Stocks and contracts in progress | 3 | €194,115 | €180,397 | -€13,717 | -7.1% |
| Stocks | 30/36 | €194,115 | €180,397 | -€13,717 | -7.1% |
| Amounts receivable within one year | 40/41 | €28,539 | €333,801 | +€305,262 | +1069.6% |
| Trade receivables | 40 | €9,406 | €25,966 | +€16,560 | +176.0% |
| Other amounts receivable | 41 | €19,133 | €307,835 | +€288,702 | +1508.9% |
| Cash at bank and in hand | 54/58 | €15,000 | €24,477 | +€9,477 | +63.2% |
| Deferred charges and accrued income | 490/1 | €835 | €2,745 | +€1,909 | +228.6% |
| Total equity and liabilities | 10/49 | €528,617 | €760,421 | +€231,804 | +43.9% |
| Equity | 10/15 | -€104,502 | -€152,726 | -€48,223 | -46.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€129,502 | -€177,726 | -€48,223 | -37.2% |
| Amounts payable | 17/49 | €633,119 | €913,147 | +€280,028 | +44.2% |
| Amounts payable after more than one year | 17 | €245,618 | €201,402 | -€44,216 | -18.0% |
| Financial debts | 170/4 | €245,618 | €201,402 | -€44,216 | -18.0% |
| Amounts payable within one year | 42/48 | €387,501 | €711,744 | +€324,243 | +83.7% |
| Current portion of amounts payable after more than one year | 42 | €43,717 | €44,216 | +€499 | +1.1% |
| Financial debts | 43 | €7,124 | €0 | -€7,124 | -100.0% |
| Credit institutions | 430/8 | €7,124 | €0 | -€7,124 | -100.0% |
| Trade debts | 44 | €304,319 | €631,329 | +€327,010 | +107.5% |
| Suppliers | 440/4 | €304,319 | €631,329 | +€327,010 | +107.5% |
| Advances received on contracts in progress | 46 | - | €545 | +€545 | |
| Taxes, remuneration and social security | 45 | €32,142 | €35,655 | +€3,513 | +10.9% |
| Remuneration and social security | 454/9 | €32,142 | €35,655 | +€3,513 | +10.9% |
| Other amounts payable | 47/48 | €199 | €0 | -€199 | -100.0% |
| Remuneration, social security and pensions | 62 | €175,479 | €176,049 | +€570 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,157 | €77,143 | -€7,014 | -8.3% |
| Other operating charges | 640/8 | €2,168 | €2,047 | -€120 | -5.6% |
| Gross operating margin | 9900 | €225,156 | €221,492 | -€3,663 | -1.6% |
| Operating profit (loss) | 9901 | -€36,648 | -€33,747 | +€2,901 | +7.9% |
| Financial income | 75/76B | €1,314 | €836 | -€479 | -36.4% |
| Recurring financial income | 75 | €1,314 | €836 | -€479 | -36.4% |
| Financial charges | 65/66B | €19,628 | €15,312 | -€4,316 | -22.0% |
| Recurring financial charges | 65 | €19,628 | €15,312 | -€4,316 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€54,962 | -€48,223 | +€6,738 | +12.3% |
| Profit (loss) for the period | 9904 | -€54,962 | -€48,223 | +€6,738 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,962 | -€48,223 | +€6,738 | +12.3% |
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 10 October 2026 via checked.be.