HMED: 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.
HMED
Largest movements
- Receivables after one year +€49,500
new in 2025: €49,500
- Receivables within one year +€18,627
up €18,627 (+35.1%), from €53,134 to €71,762
of which Other amounts receivable: +€66,762
- Deferred charges and accrued income +€10,394
new in 2025: €10,394
- Cash +€2,782
up €2,782 (+57.0%), from €4,882 to €7,664
mainly Net result for the year (+€69,511) and Trade debts (+€7,390)
- Profit (loss) carried forward +€69,511
up €69,511 (+166.4%), from €41,774 to €111,285
- Trade debts +€7,390
up €7,390 (+447.2%), from €1,653 to €9,043
- Tax, wage and social debts +€4,985
up €4,985 (+42.6%), from €11,700 to €16,685
of which Taxes: +€5,985
- Gross operating margin +€33,510
up €33,510 (+60.3%), from €55,563 to €89,073
- Taxes +€7,285
up €7,285 (+68.1%), from €10,700 to €17,985
- Depreciation -€1,045
down €1,045 (-74.7%), from €1,398 to €353
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 | €58,072 | €140,521 | +€82,449 | +142.0% |
| Fixed assets | 21/28 | €56 | €1,201 | +€1,146 | +2062.4% |
| Tangible fixed assets | 22/27 | - | €1,146 | +€1,146 | |
| Plant, machinery and equipment | 23 | - | €1,146 | +€1,146 | |
| Financial fixed assets | 28 | €56 | €56 | = | 0.0% |
| Current assets | 29/58 | €58,016 | €139,320 | +€81,303 | +140.1% |
| Amounts receivable after more than one year | 29 | - | €49,500 | +€49,500 | |
| Other amounts receivable | 291 | - | €49,500 | +€49,500 | |
| Amounts receivable within one year | 40/41 | €53,134 | €71,762 | +€18,627 | +35.1% |
| Trade receivables | 40 | €53,134 | €5,000 | -€48,134 | -90.6% |
| Other amounts receivable | 41 | - | €66,762 | +€66,762 | |
| Cash at bank and in hand | 54/58 | €4,882 | €7,664 | +€2,782 | +57.0% |
| Deferred charges and accrued income | 490/1 | - | €10,394 | +€10,394 | |
| Total equity and liabilities | 10/49 | €58,072 | €140,521 | +€82,449 | +142.0% |
| Equity | 10/15 | €44,274 | €113,785 | +€69,511 | +157.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,774 | €111,285 | +€69,511 | +166.4% |
| Amounts payable | 17/49 | €13,798 | €26,737 | +€12,938 | +93.8% |
| Amounts payable within one year | 42/48 | €13,798 | €26,737 | +€12,938 | +93.8% |
| Trade debts | 44 | €1,653 | €9,043 | +€7,390 | +447.2% |
| Suppliers | 440/4 | €1,653 | €9,043 | +€7,390 | +447.2% |
| Taxes, remuneration and social security | 45 | €11,700 | €16,685 | +€4,985 | +42.6% |
| Taxes | 450/3 | €10,700 | €16,685 | +€5,985 | +55.9% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €446 | €1,009 | +€563 | +126.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,398 | €353 | -€1,045 | -74.7% |
| Other operating charges | 640/8 | €1,613 | €1,080 | -€533 | -33.0% |
| Gross operating margin | 9900 | €55,563 | €89,073 | +€33,510 | +60.3% |
| Operating profit (loss) | 9901 | €52,552 | €87,640 | +€35,088 | +66.8% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €78 | €158 | +€80 | +102.2% |
| Recurring financial charges | 65 | €78 | €158 | +€80 | +102.2% |
| Profit (loss) for the period before taxes | 9903 | €52,474 | €87,496 | +€35,022 | +66.7% |
| Income taxes | 67/77 | €10,700 | €17,985 | +€7,285 | +68.1% |
| Profit (loss) for the period | 9904 | €41,774 | €69,511 | +€27,738 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,774 | €69,511 | +€27,738 | +66.4% |
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 5 October 2026 via checked.be.