HM BUSINESS: 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.
HM BUSINESS
Largest movements
- Tangible fixed assets -€37,121
down €37,121 (-55.7%), from €66,625 to €29,504
- Receivables within one year -€4,982
down €4,982 (-33.8%), from €14,733 to €9,751
of which Other amounts receivable: -€9,015
- Cash -€3,334
down €3,334 (-40.1%), from €8,308 to €4,974
mainly Other debts (-€26,410) and Net result for the year (-€18,802)
- Deferred charges and accrued income +€2,105
up €2,105 (+68.8%), from €3,061 to €5,166
- Other debts -€26,410
down €26,410 (-33.9%), from €77,895 to €51,485
- Profit (loss) carried forward -€18,802
down €18,802, from €4,242 to -€14,559
- Tax, wage and social debts +€1,880
up €1,880 (+319%), from €590 to €2,469
- Other operating charges +€12,949
up €12,949 (+1,082%), from €1,197 to €14,146
- Depreciation +€5,065
up €5,065 (+50.1%), from €10,101 to €15,165
- Gross operating margin -€4,835
down €4,835 (-31.4%), from €15,383 to €10,549
- Taxes -€589
no longer reported in 2025 (was €589)
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 | €92,727 | €49,395 | -€43,332 | -46.7% |
| Fixed assets | 21/28 | €66,625 | €29,504 | -€37,121 | -55.7% |
| Tangible fixed assets | 22/27 | €66,625 | €29,504 | -€37,121 | -55.7% |
| Furniture and vehicles | 24 | €66,625 | €29,504 | -€37,121 | -55.7% |
| Current assets | 29/58 | €26,102 | €19,891 | -€6,211 | -23.8% |
| Amounts receivable within one year | 40/41 | €14,733 | €9,751 | -€4,982 | -33.8% |
| Trade receivables | 40 | €2,590 | €6,623 | +€4,033 | +156% |
| Other amounts receivable | 41 | €12,143 | €3,128 | -€9,015 | -74.2% |
| Cash at bank and in hand | 54/58 | €8,308 | €4,974 | -€3,334 | -40.1% |
| Deferred charges and accrued income | 490/1 | €3,061 | €5,166 | +€2,105 | +68.8% |
| Total equity and liabilities | 10/49 | €92,727 | €49,395 | -€43,332 | -46.7% |
| Equity | 10/15 | €14,242 | -€4,559 | -€18,802 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,242 | -€14,559 | -€18,802 | |
| Amounts payable | 17/49 | €78,485 | €53,954 | -€24,530 | -31.3% |
| Amounts payable within one year | 42/48 | €78,485 | €53,954 | -€24,530 | -31.3% |
| Taxes, remuneration and social security | 45 | €590 | €2,469 | +€1,880 | +319% |
| Taxes | 450/3 | €590 | €2,469 | +€1,880 | +319% |
| Other amounts payable | 47/48 | €77,895 | €51,485 | -€26,410 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,101 | €15,165 | +€5,065 | +50.1% |
| Other operating charges | 640/8 | €1,197 | €14,146 | +€12,949 | +1,082% |
| Non-recurring operating charges | 66A | €1,000 | - | -€1,000 | |
| Gross operating margin | 9900 | €15,383 | €10,549 | -€4,835 | -31.4% |
| Operating profit (loss) | 9901 | €3,086 | -€18,762 | -€21,848 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €141 | €40 | -€102 | -72.0% |
| Recurring financial charges | 65 | €141 | €40 | -€102 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | €2,946 | -€18,802 | -€21,748 | |
| Income taxes | 67/77 | €589 | - | -€589 | |
| Profit (loss) for the period | 9904 | €2,357 | -€18,802 | -€21,159 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,357 | -€18,802 | -€21,159 |
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 25 October 2026 via checked.be.