HMDLH: 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.
HMDLH
Largest movements
- Cash +€37,129
up €37,129 (+157.2%), from €23,620 to €60,749
mainly Net result for the year (+€35,348) and Receivables within one year (+€7,170)
- Receivables within one year -€7,170
down €7,170 (-85.5%), from €8,385 to €1,215
of which Trade receivables: -€8,385
- Tangible fixed assets +€1,149
up €1,149 (+155.7%), from €738 to €1,886
- Reserves +€35,348
up €35,348 (+201.5%), from €17,540 to €52,889
- Tax, wage and social debts -€4,868
down €4,868 (-47.1%), from €10,331 to €5,463
- Gross operating margin +€27,884
up €27,884 (+148.1%), from €18,832 to €46,716
- Taxes +€5,386
up €5,386 (+122.4%), from €4,399 to €9,785
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 | €33,813 | €64,685 | +€30,872 | +91.3% |
| Fixed assets | 21/28 | €738 | €1,886 | +€1,149 | +155.7% |
| Tangible fixed assets | 22/27 | €738 | €1,886 | +€1,149 | +155.7% |
| Furniture and vehicles | 24 | €738 | €1,886 | +€1,149 | +155.7% |
| Current assets | 29/58 | €33,075 | €62,799 | +€29,724 | +89.9% |
| Amounts receivable within one year | 40/41 | €8,385 | €1,215 | -€7,170 | -85.5% |
| Trade receivables | 40 | €8,385 | - | -€8,385 | |
| Other amounts receivable | 41 | - | €1,215 | +€1,215 | |
| Cash at bank and in hand | 54/58 | €23,620 | €60,749 | +€37,129 | +157.2% |
| Deferred charges and accrued income | 490/1 | €1,070 | €835 | -€235 | -22.0% |
| Total equity and liabilities | 10/49 | €33,813 | €64,685 | +€30,872 | +91.3% |
| Equity | 10/15 | €20,040 | €55,389 | +€35,348 | +176.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €17,540 | €52,889 | +€35,348 | +201.5% |
| Distributable reserves | 133 | €17,540 | €52,889 | +€35,348 | +201.5% |
| Amounts payable | 17/49 | €13,773 | €9,296 | -€4,476 | -32.5% |
| Amounts payable within one year | 42/48 | €13,773 | €9,296 | -€4,476 | -32.5% |
| Trade debts | 44 | €3,386 | €3,834 | +€448 | +13.2% |
| Suppliers | 440/4 | €3,386 | €3,834 | +€448 | +13.2% |
| Taxes, remuneration and social security | 45 | €10,331 | €5,463 | -€4,868 | -47.1% |
| Taxes | 450/3 | €10,331 | €5,463 | -€4,868 | -47.1% |
| Other amounts payable | 47/48 | €56 | - | -€56 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484 | €664 | +€180 | +37.1% |
| Other operating charges | 640/8 | €445 | €750 | +€305 | +68.5% |
| Gross operating margin | 9900 | €18,832 | €46,716 | +€27,884 | +148.1% |
| Operating profit (loss) | 9901 | €17,902 | €45,302 | +€27,399 | +153.0% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €65 | €168 | +€103 | +159.7% |
| Recurring financial charges | 65 | €65 | €168 | +€103 | +159.7% |
| Profit (loss) for the period before taxes | 9903 | €17,844 | €45,133 | +€27,290 | +152.9% |
| Income taxes | 67/77 | €4,399 | €9,785 | +€5,386 | +122.4% |
| Profit (loss) for the period | 9904 | €13,445 | €35,348 | +€21,904 | +162.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,445 | €35,348 | +€21,904 | +162.9% |
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 2 October 2026 via checked.be.