HM FinancING: 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 FinancING
Largest movements
- Intangible fixed assets -€180,107
down €180,107 (-11.1%), from €1.6m to €1.4m
- Current investments +€125,000
new in 2025: €125,000
- Cash +€38,818
up €38,818 (+145%), from €26,823 to €65,641
mainly Net result for the year (+€251,942) and Depreciation (+€180,107)
- Deferred charges and accrued income +€20,966
up €20,966 (+16.2%), from €129,786 to €150,752
- Debts after one year -€171,663
down €171,663 (-12.2%), from €1.4m to €1.2m
of which Financial debts: -€116,663
- Reserves +€97,617
up €97,617 (+173%), from €56,528 to €154,144
- Other debts +€49,692
up €49,692 (+46.8%), from €106,279 to €155,970
- Trade debts +€22,532
up €22,532 (+68.5%), from €32,899 to €55,431
- Gross operating margin +€139,804
up €139,804 (+15.7%), from €888,823 to €1.0m
- Staff costs +€26,172
up €26,172 (+5.6%), from €468,021 to €494,193
- Taxes +€15,322
up €15,322 (+47.3%), from €32,367 to €47,689
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 | €1,790,331 | €1,797,684 | +€7,353 | +0.4% |
| Fixed assets | 21/28 | €1,622,436 | €1,446,309 | -€176,127 | -10.9% |
| Intangible fixed assets | 21 | €1,622,436 | €1,442,329 | -€180,107 | -11.1% |
| Financial fixed assets | 28 | - | €3,980 | +€3,980 | |
| Current assets | 29/58 | €167,895 | €351,375 | +€183,480 | +109% |
| Amounts receivable within one year | 40/41 | €11,285 | €9,981 | -€1,304 | -11.6% |
| Trade receivables | 40 | €11,279 | €9,975 | -€1,304 | -11.6% |
| Other amounts receivable | 41 | €6 | €6 | = | 0.0% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €26,823 | €65,641 | +€38,818 | +145% |
| Deferred charges and accrued income | 490/1 | €129,786 | €150,752 | +€20,966 | +16.2% |
| Total equity and liabilities | 10/49 | €1,790,331 | €1,797,684 | +€7,353 | +0.4% |
| Equity | 10/15 | €68,928 | €166,544 | +€97,617 | +142% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €56,528 | €154,144 | +€97,617 | +173% |
| Distributable reserves | 133 | €56,528 | €154,144 | +€97,617 | +173% |
| Amounts payable | 17/49 | €1,721,403 | €1,631,140 | -€90,264 | -5.2% |
| Amounts payable after more than one year | 17 | €1,404,493 | €1,232,830 | -€171,663 | -12.2% |
| Financial debts | 170/4 | €869,493 | €752,830 | -€116,663 | -13.4% |
| Other amounts payable | 178/9 | €535,000 | €480,000 | -€55,000 | -10.3% |
| Amounts payable within one year | 42/48 | €316,910 | €398,310 | +€81,399 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €113,110 | €116,663 | +€3,553 | +3.1% |
| Financial debts | 43 | - | €4,169 | +€4,169 | |
| Credit institutions | 430/8 | - | €4,169 | +€4,169 | |
| Trade debts | 44 | €32,899 | €55,431 | +€22,532 | +68.5% |
| Suppliers | 440/4 | €32,899 | €55,431 | +€22,532 | +68.5% |
| Taxes, remuneration and social security | 45 | €64,623 | €66,076 | +€1,453 | +2.2% |
| Taxes | 450/3 | €32,650 | €22,689 | -€9,961 | -30.5% |
| Remuneration and social security | 454/9 | €31,973 | €43,387 | +€11,414 | +35.7% |
| Other amounts payable | 47/48 | €106,279 | €155,970 | +€49,692 | +46.8% |
| Remuneration, social security and pensions | 62 | €468,021 | €494,193 | +€26,172 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,630 | €180,107 | +€1,476 | +0.8% |
| Other operating charges | 640/8 | €1,579 | €2,125 | +€546 | +34.6% |
| Gross operating margin | 9900 | €888,823 | €1,028,627 | +€139,804 | +15.7% |
| Operating profit (loss) | 9901 | €240,594 | €352,202 | +€111,609 | +46.4% |
| Financial income | 75/76B | €4,239 | €573 | -€3,666 | -86.5% |
| Recurring financial income | 75 | €4,239 | €573 | -€3,666 | -86.5% |
| Financial charges | 65/66B | €55,408 | €53,144 | -€2,264 | -4.1% |
| Recurring financial charges | 65 | €55,408 | €53,144 | -€2,264 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €189,425 | €299,631 | +€110,207 | +58.2% |
| Income taxes | 67/77 | €32,367 | €47,689 | +€15,322 | +47.3% |
| Profit (loss) for the period | 9904 | €157,058 | €251,942 | +€94,884 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €157,058 | €251,942 | +€94,884 | +60.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.