HMB: 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.
HMB
Largest movements
- Deferred charges and accrued income +€2,850
up €2,850 (+90.5%), from €3,150 to €6,000
- Other debts +€1,500
up €1,500 (+1.6%), from €96,750 to €98,250
- Financial charges -€106,059
down €106,059 (-100.0%), from €106,059 to €0
of which Non-recurring financial charges: -€106,000
- Financial income +€446
up €446 (+18.5%), from €2,404 to €2,850
- Gross operating margin -€431
down €431 (-68.4%), from -€630 to -€1,061
- Other operating charges -€221
down €221 (-26.6%), from €833 to €611
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 | €105,624 | €107,577 | +€1,952 | +1.8% |
| Formation expenses | 20 | €779 | €154 | -€625 | -80.2% |
| Fixed assets | 21/28 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €98,845 | €101,423 | +€2,577 | +2.6% |
| Amounts receivable after more than one year | 29 | €95,000 | €95,000 | = | 0.0% |
| Other amounts receivable | 291 | €95,000 | €95,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €196 | €419 | +€223 | +113.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €196 | €419 | +€223 | +113.6% |
| Cash at bank and in hand | 54/58 | €499 | €4 | -€496 | -99.3% |
| Deferred charges and accrued income | 490/1 | €3,150 | €6,000 | +€2,850 | +90.5% |
| Total equity and liabilities | 10/49 | €105,624 | €107,577 | +€1,952 | +1.8% |
| Equity | 10/15 | €8,390 | €8,942 | +€552 | +6.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,610 | -€111,058 | +€552 | +0.5% |
| Amounts payable | 17/49 | €97,234 | €98,634 | +€1,400 | +1.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €96,850 | €98,250 | +€1,400 | +1.4% |
| Trade debts | 44 | €100 | €0 | -€100 | -100.0% |
| Suppliers | 440/4 | €100 | €0 | -€100 | -100.0% |
| Other amounts payable | 47/48 | €96,750 | €98,250 | +€1,500 | +1.6% |
| Accrued charges and deferred income | 492/3 | €384 | €384 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €625 | €625 | +€0 | 0.0% |
| Other operating charges | 640/8 | €833 | €611 | -€221 | -26.6% |
| Gross operating margin | 9900 | -€630 | -€1,061 | -€431 | -68.4% |
| Operating profit (loss) | 9901 | -€2,088 | -€2,298 | -€210 | -10.1% |
| Financial income | 75/76B | €2,404 | €2,850 | +€446 | +18.5% |
| Recurring financial income | 75 | €2,404 | €2,850 | +€446 | +18.5% |
| Financial charges | 65/66B | €106,059 | €0 | -€106,059 | -100.0% |
| Recurring financial charges | 65 | €59 | €0 | -€59 | -100.0% |
| Non-recurring financial charges | 66B | €106,000 | €0 | -€106,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€105,742 | €552 | +€106,294 | |
| Profit (loss) for the period | 9904 | -€105,742 | €552 | +€106,294 | |
| Profit (loss) for the period to be appropriated | 9905 | -€105,742 | €552 | +€106,294 |
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 4 October 2026 via checked.be.