HMO: 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.
HMO
Largest movements
- Receivables within one year -€21,100
no longer reported in 2025 (was €21,100)
- Financial fixed assets -€8,000
down €8,000 (-2.1%), from €384,000 to €376,000
- Debts after one year -€54,192
down €54,192 (-75.1%), from €72,125 to €17,933
- Reserves +€50,000
new in 2025: €50,000
- Profit (loss) carried forward -€29,498
down €29,498 (-21.5%), from €137,063 to €107,565
- Other debts +€27,914
up €27,914 (+604%), from €4,620 to €32,534
- Tax, wage and social debts -€16,819
down €16,819 (-43.2%), from €38,897 to €22,078
- Gross operating margin -€25,249
down €25,249 (-26.7%), from €94,681 to €69,432
- Depreciation -€8,081
down €8,081 (-50.3%), from €16,081 to €8,000
- Taxes -€4,597
down €4,597 (-33.1%), from €13,900 to €9,303
- Other operating charges -€3,128
down €3,128 (-57.9%), from €5,401 to €2,273
- Financial charges +€2,520
up €2,520 (+137%), from €1,834 to €4,354
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 | €405,961 | €377,881 | -€28,080 | -6.9% |
| Fixed assets | 21/28 | €384,000 | €376,000 | -€8,000 | -2.1% |
| Financial fixed assets | 28 | €384,000 | €376,000 | -€8,000 | -2.1% |
| Current assets | 29/58 | €21,961 | €1,881 | -€20,080 | -91.4% |
| Amounts receivable within one year | 40/41 | €21,100 | - | -€21,100 | |
| Other amounts receivable | 41 | €21,100 | - | -€21,100 | |
| Cash at bank and in hand | 54/58 | €861 | €1,881 | +€1,020 | +118% |
| Total equity and liabilities | 10/49 | €405,961 | €377,881 | -€28,080 | -6.9% |
| Equity | 10/15 | €227,063 | €247,565 | +€20,502 | +9.0% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | - | €90,000 | +€90,000 | |
| Issued capital | 100 | - | €90,000 | +€90,000 | |
| Reserves | 13 | - | €50,000 | +€50,000 | |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | €137,063 | €107,565 | -€29,498 | -21.5% |
| Amounts payable | 17/49 | €178,898 | €130,316 | -€48,582 | -27.2% |
| Amounts payable after more than one year | 17 | €72,125 | €17,933 | -€54,192 | -75.1% |
| Financial debts | 170/4 | €72,125 | €17,933 | -€54,192 | -75.1% |
| Amounts payable within one year | 42/48 | €106,773 | €112,383 | +€5,610 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €57,053 | €56,895 | -€158 | -0.3% |
| Trade debts | 44 | €6,203 | €876 | -€5,327 | -85.9% |
| Suppliers | 440/4 | €6,203 | €876 | -€5,327 | -85.9% |
| Taxes, remuneration and social security | 45 | €38,897 | €22,078 | -€16,819 | -43.2% |
| Taxes | 450/3 | €38,897 | €22,078 | -€16,819 | -43.2% |
| Other amounts payable | 47/48 | €4,620 | €32,534 | +€27,914 | +604% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,081 | €8,000 | -€8,081 | -50.3% |
| Other operating charges | 640/8 | €5,401 | €2,273 | -€3,128 | -57.9% |
| Gross operating margin | 9900 | €94,681 | €69,432 | -€25,249 | -26.7% |
| Operating profit (loss) | 9901 | €73,199 | €59,159 | -€14,040 | -19.2% |
| Financial charges | 65/66B | €1,834 | €4,354 | +€2,520 | +137% |
| Recurring financial charges | 65 | €1,834 | €4,354 | +€2,520 | +137% |
| Profit (loss) for the period before taxes | 9903 | €71,365 | €54,805 | -€16,560 | -23.2% |
| Income taxes | 67/77 | €13,900 | €9,303 | -€4,597 | -33.1% |
| Profit (loss) for the period | 9904 | €57,465 | €45,502 | -€11,963 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,465 | €45,502 | -€11,963 | -20.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.