HM-Consult: 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.
HM-Consult
Largest movements
- Receivables within one year +€126,714
up €126,714 (+72.6%), from €174,493 to €301,206
of which Trade receivables: +€121,117
- Current investments -€91,971
down €91,971 (-18.1%), from €506,970 to €414,999
- Cash -€28,360
down €28,360 (-17.2%), from €165,183 to €136,823
mainly Receivables within one year (-€126,714) and Contributions, distributions and other (-€88,080)
- Tangible fixed assets -€13,894
down €13,894 (-7.3%), from €189,129 to €175,234
of which Land and buildings: -€9,920
- Debts after one year -€15,484
down €15,484 (-9.1%), from €169,896 to €154,412
- Tax, wage and social debts +€14,992
up €14,992 (+56.2%), from €26,680 to €41,673
of which Taxes: +€14,992
- Gross operating margin +€13,131
up €13,131 (+10.9%), from €120,515 to €133,645
- Taxes +€4,190
up €4,190 (+14.2%), from €29,516 to €33,707
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 | €1,037,124 | €1,029,597 | -€7,527 | -0.7% |
| Fixed assets | 21/28 | €189,129 | €175,234 | -€13,894 | -7.3% |
| Tangible fixed assets | 22/27 | €189,129 | €175,234 | -€13,894 | -7.3% |
| Land and buildings | 22 | €175,936 | €166,016 | -€9,920 | -5.6% |
| Plant, machinery and equipment | 23 | €10,266 | €7,221 | -€3,045 | -29.7% |
| Furniture and vehicles | 24 | €2,926 | €1,997 | -€929 | -31.8% |
| Current assets | 29/58 | €847,996 | €854,363 | +€6,367 | +0.8% |
| Amounts receivable within one year | 40/41 | €174,493 | €301,206 | +€126,714 | +72.6% |
| Trade receivables | 40 | €133,100 | €254,217 | +€121,117 | +91.0% |
| Other amounts receivable | 41 | €41,393 | €46,989 | +€5,597 | +13.5% |
| Current investments | 50/53 | €506,970 | €414,999 | -€91,971 | -18.1% |
| Cash at bank and in hand | 54/58 | €165,183 | €136,823 | -€28,360 | -17.2% |
| Deferred charges and accrued income | 490/1 | €1,349 | €1,334 | -€16 | -1.2% |
| Total equity and liabilities | 10/49 | €1,037,124 | €1,029,597 | -€7,527 | -0.7% |
| Equity | 10/15 | €820,259 | €814,297 | -€5,963 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €801,659 | €795,697 | -€5,963 | -0.7% |
| Distributable reserves | 133 | €801,659 | €795,697 | -€5,963 | -0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €216,865 | €215,300 | -€1,564 | -0.7% |
| Amounts payable after more than one year | 17 | €169,896 | €154,412 | -€15,484 | -9.1% |
| Financial debts | 170/4 | €169,896 | €154,412 | -€15,484 | -9.1% |
| Amounts payable within one year | 42/48 | €46,968 | €60,888 | +€13,920 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €15,260 | €15,484 | +€224 | +1.5% |
| Financial debts | 43 | €11 | €12 | +€1 | +9.1% |
| Credit institutions | 430/8 | €11 | €12 | +€1 | +9.1% |
| Trade debts | 44 | €5,017 | €3,719 | -€1,298 | -25.9% |
| Suppliers | 440/4 | €5,017 | €3,719 | -€1,298 | -25.9% |
| Taxes, remuneration and social security | 45 | €26,680 | €41,673 | +€14,992 | +56.2% |
| Taxes | 450/3 | €26,680 | €41,673 | +€14,992 | +56.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,702 | €13,894 | +€193 | +1.4% |
| Other operating charges | 640/8 | €1,953 | €2,207 | +€254 | +13.0% |
| Gross operating margin | 9900 | €120,515 | €133,645 | +€13,131 | +10.9% |
| Operating profit (loss) | 9901 | €104,860 | €117,544 | +€12,684 | +12.1% |
| Financial income | 75/76B | €484 | €1,186 | +€701 | +144.9% |
| Recurring financial income | 75 | €484 | €1,186 | +€701 | +144.9% |
| Financial charges | 65/66B | €3,509 | €2,905 | -€603 | -17.2% |
| Recurring financial charges | 65 | €3,509 | €2,905 | -€603 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €101,835 | €115,824 | +€13,989 | +13.7% |
| Income taxes | 67/77 | €29,516 | €33,707 | +€4,190 | +14.2% |
| Profit (loss) for the period | 9904 | €72,319 | €82,117 | +€9,798 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €72,319 | €82,117 | +€9,798 | +13.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.