HMCBASE: 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.
HMCBASE
Largest movements
- Receivables within one year +€577,847
up €577,847 (+67.7%), from €853,099 to €1.4m
of which Other amounts receivable: +€547,597
- Cash -€115,197
down €115,197 (-44.2%), from €260,482 to €145,285
mainly Receivables within one year (-€577,847) and Current investments (-€99,901)
- Current investments +€99,901
up €99,901 (+198.8%), from €50,245 to €150,146
- Tangible fixed assets -€23,875
down €23,875 (-30.5%), from €78,360 to €54,485
of which Leasing and similar rights: -€23,230
- Reserves +€653,970
up €653,970 (+59.4%), from €1.1m to €1.8m
- Tax, wage and social debts -€94,183
down €94,183 (-52.2%), from €180,279 to €86,096
of which Taxes: -€94,265
- Debts after one year -€21,533
down €21,533 (-43.7%), from €49,230 to €27,696
- Gross operating margin +€180,944
up €180,944 (+24.8%), from €729,867 to €910,811
- Taxes +€58,916
up €58,916 (+33.9%), from €173,895 to €232,811
- Financial income +€10,421
new in 2025: €10,421
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 | €1,363,077 | €1,900,711 | +€537,634 | +39.4% |
| Fixed assets | 21/28 | €194,100 | €170,225 | -€23,875 | -12.3% |
| Tangible fixed assets | 22/27 | €78,360 | €54,485 | -€23,875 | -30.5% |
| Furniture and vehicles | 24 | €2,814 | €2,169 | -€645 | -22.9% |
| Leasing and similar rights | 25 | €75,545 | €52,315 | -€23,230 | -30.7% |
| Financial fixed assets | 28 | €115,740 | €115,740 | = | 0.0% |
| Current assets | 29/58 | €1,168,977 | €1,730,487 | +€561,509 | +48.0% |
| Amounts receivable within one year | 40/41 | €853,099 | €1,430,946 | +€577,847 | +67.7% |
| Trade receivables | 40 | €0 | €30,250 | +€30,250 | |
| Other amounts receivable | 41 | €853,099 | €1,400,696 | +€547,597 | +64.2% |
| Current investments | 50/53 | €50,245 | €150,146 | +€99,901 | +198.8% |
| Cash at bank and in hand | 54/58 | €260,482 | €145,285 | -€115,197 | -44.2% |
| Deferred charges and accrued income | 490/1 | €5,151 | €4,110 | -€1,042 | -20.2% |
| Total equity and liabilities | 10/49 | €1,363,077 | €1,900,711 | +€537,634 | +39.4% |
| Equity | 10/15 | €1,106,865 | €1,760,835 | +€653,970 | +59.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,101,865 | €1,755,835 | +€653,970 | +59.4% |
| Distributable reserves | 133 | €1,101,865 | €1,755,835 | +€653,970 | +59.4% |
| Amounts payable | 17/49 | €256,213 | €139,876 | -€116,336 | -45.4% |
| Amounts payable after more than one year | 17 | €49,230 | €27,696 | -€21,533 | -43.7% |
| Financial debts | 170/4 | €49,230 | €27,696 | -€21,533 | -43.7% |
| Amounts payable within one year | 42/48 | €206,966 | €112,169 | -€94,798 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €20,994 | €21,533 | +€539 | +2.6% |
| Trade debts | 44 | €5,694 | €4,539 | -€1,154 | -20.3% |
| Suppliers | 440/4 | €5,694 | €4,539 | -€1,154 | -20.3% |
| Taxes, remuneration and social security | 45 | €180,279 | €86,096 | -€94,183 | -52.2% |
| Taxes | 450/3 | €177,451 | €83,185 | -€94,265 | -53.1% |
| Remuneration and social security | 454/9 | €2,828 | €2,911 | +€83 | +2.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €17 | €11 | -€6 | -33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,939 | €24,556 | +€617 | +2.6% |
| Other operating charges | 640/8 | €6,636 | €6,734 | +€98 | +1.5% |
| Gross operating margin | 9900 | €729,867 | €910,811 | +€180,944 | +24.8% |
| Operating profit (loss) | 9901 | €699,291 | €879,520 | +€180,229 | +25.8% |
| Financial income | 75/76B | - | €10,421 | +€10,421 | |
| Recurring financial income | 75 | - | €10,421 | +€10,421 | |
| Financial charges | 65/66B | €2,946 | €3,160 | +€214 | +7.3% |
| Recurring financial charges | 65 | €2,946 | €3,160 | +€214 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €696,345 | €886,781 | +€190,436 | +27.3% |
| Income taxes | 67/77 | €173,895 | €232,811 | +€58,916 | +33.9% |
| Profit (loss) for the period | 9904 | €522,450 | €653,970 | +€131,520 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €522,450 | €653,970 | +€131,520 | +25.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.