HM CORP: 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 CORP
Largest movements
- Cash +€73,673
up €73,673 (+17.6%), from €418,146 to €491,819
mainly Net result for the year (+€349,985) and Depreciation (+€36,844)
- Stocks and contracts +€66,527
up €66,527 (+128%), from €51,960 to €118,487
- Receivables within one year -€25,571
down €25,571 (-30.8%), from €83,154 to €57,583
of which Other amounts receivable: -€41,243
- Tangible fixed assets +€14,692
up €14,692 (+15.3%), from €95,962 to €110,654
of which Furniture and vehicles: +€32,062
- Profit (loss) carried forward +€349,985
up €349,985 (+171%), from €204,628 to €554,613
- Trade debts -€152,479
down €152,479 (-93.8%), from €162,547 to €10,068
- Other debts -€51,623
down €51,623 (-51.6%), from €100,000 to €48,377
- Gross operating margin +€244,631
up €244,631 (+45.4%), from €538,335 to €782,967
- Other operating charges +€84,142
up €84,142 (+4,028%), from €2,089 to €86,232
- Staff costs -€72,626
down €72,626 (-28.7%), from €252,719 to €180,092
- Taxes +€57,877
up €57,877 (+92.5%), from €62,592 to €120,468
- Purchases and services +€33,274
up €33,274 (+1.5%), from €2.3m to €2.3m
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 | €669,666 | €795,543 | +€125,877 | +18.8% |
| Fixed assets | 21/28 | €112,962 | €127,654 | +€14,692 | +13.0% |
| Tangible fixed assets | 22/27 | €95,962 | €110,654 | +€14,692 | +15.3% |
| Plant, machinery and equipment | 23 | €54,316 | €36,945 | -€17,371 | -32.0% |
| Furniture and vehicles | 24 | €41,647 | €73,709 | +€32,062 | +77.0% |
| Financial fixed assets | 28 | €17,000 | €17,000 | = | 0.0% |
| Current assets | 29/58 | €556,703 | €667,889 | +€111,186 | +20.0% |
| Stocks and contracts in progress | 3 | €51,960 | €118,487 | +€66,527 | +128% |
| Stocks | 30/36 | €51,960 | €118,487 | +€66,527 | +128% |
| Amounts receivable within one year | 40/41 | €83,154 | €57,583 | -€25,571 | -30.8% |
| Trade receivables | 40 | - | €15,672 | +€15,672 | |
| Other amounts receivable | 41 | €83,154 | €41,911 | -€41,243 | -49.6% |
| Cash at bank and in hand | 54/58 | €418,146 | €491,819 | +€73,673 | +17.6% |
| Deferred charges and accrued income | 490/1 | €3,443 | - | -€3,443 | |
| Total equity and liabilities | 10/49 | €669,666 | €795,543 | +€125,877 | +18.8% |
| Equity | 10/15 | €224,628 | €574,613 | +€349,985 | +156% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,628 | €554,613 | +€349,985 | +171% |
| Amounts payable | 17/49 | €445,038 | €220,930 | -€224,107 | -50.4% |
| Amounts payable after more than one year | 17 | €7,223 | - | -€7,223 | |
| Financial debts | 170/4 | €7,223 | - | -€7,223 | |
| Amounts payable within one year | 42/48 | €437,814 | €220,930 | -€216,884 | -49.5% |
| Current portion of amounts payable after more than one year | 42 | €14,447 | €7,223 | -€7,224 | -50.0% |
| Trade debts | 44 | €162,547 | €10,068 | -€152,479 | -93.8% |
| Suppliers | 440/4 | €162,547 | €10,068 | -€152,479 | -93.8% |
| Taxes, remuneration and social security | 45 | €160,820 | €155,261 | -€5,558 | -3.5% |
| Taxes | 450/3 | €147,339 | €155,261 | +€7,922 | +5.4% |
| Remuneration and social security | 454/9 | €13,481 | - | -€13,481 | |
| Other amounts payable | 47/48 | €100,000 | €48,377 | -€51,623 | -51.6% |
| Non-recurring operating income | 76A | - | €35,588 | +€35,588 | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,255,875 | €2,289,149 | +€33,274 | +1.5% |
| Remuneration, social security and pensions | 62 | €252,719 | €180,092 | -€72,626 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,122 | €36,844 | +€6,723 | +22.3% |
| Other operating charges | 640/8 | €2,089 | €86,232 | +€84,142 | +4,028% |
| Non-recurring operating charges | 66A | €792 | €7,601 | +€6,808 | +859% |
| Gross operating margin | 9900 | €538,335 | €782,967 | +€244,631 | +45.4% |
| Operating profit (loss) | 9901 | €252,614 | €472,198 | +€219,584 | +86.9% |
| Financial income | 75/76B | - | €10,019 | +€10,019 | |
| Recurring financial income | 75 | - | €10,019 | +€10,019 | |
| Non-recurring financial income | 76B | - | €10,019 | +€10,019 | |
| Financial charges | 65/66B | €8,762 | €11,763 | +€3,001 | +34.2% |
| Recurring financial charges | 65 | €8,762 | €11,763 | +€3,001 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €243,851 | €470,453 | +€226,602 | +92.9% |
| Income taxes | 67/77 | €62,592 | €120,468 | +€57,877 | +92.5% |
| Profit (loss) for the period | 9904 | €181,260 | €349,985 | +€168,725 | +93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €181,260 | €349,985 | +€168,725 | +93.1% |
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 23 October 2026 via checked.be.