HMRX: 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.
HMRX
Largest movements
- Cash +€123,413
up €123,413 (+48.4%), from €255,210 to €378,623
mainly Net result for the year (+€117,866) and Tax, wage and social debts (+€3,979)
- Profit (loss) carried forward +€117,866
up €117,866 (+54.7%), from €215,431 to €333,297
- Gross operating margin +€5,183
up €5,183 (+3.5%), from €149,624 to €154,807
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 | €300,278 | €420,925 | +€120,647 | +40.2% |
| Fixed assets | 21/28 | €1,721 | €233 | -€1,488 | -86.5% |
| Tangible fixed assets | 22/27 | €1,721 | €233 | -€1,488 | -86.5% |
| Furniture and vehicles | 24 | €1,721 | €233 | -€1,488 | -86.5% |
| Current assets | 29/58 | €298,557 | €420,692 | +€122,135 | +40.9% |
| Amounts receivable within one year | 40/41 | €42,855 | €41,577 | -€1,278 | -3.0% |
| Trade receivables | 40 | €42,821 | €41,543 | -€1,278 | -3.0% |
| Other amounts receivable | 41 | €34 | €34 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €255,210 | €378,623 | +€123,413 | +48.4% |
| Deferred charges and accrued income | 490/1 | €492 | €492 | = | 0.0% |
| Total equity and liabilities | 10/49 | €300,278 | €420,925 | +€120,647 | +40.2% |
| Equity | 10/15 | €217,931 | €335,797 | +€117,866 | +54.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €215,431 | €333,297 | +€117,866 | +54.7% |
| Amounts payable | 17/49 | €82,347 | €85,128 | +€2,781 | +3.4% |
| Amounts payable within one year | 42/48 | €82,347 | €85,128 | +€2,781 | +3.4% |
| Trade debts | 44 | €200 | €33 | -€167 | -83.5% |
| Suppliers | 440/4 | €200 | €33 | -€167 | -83.5% |
| Taxes, remuneration and social security | 45 | €78,835 | €82,815 | +€3,979 | +5.0% |
| Taxes | 450/3 | €76,495 | €82,815 | +€6,319 | +8.3% |
| Remuneration and social security | 454/9 | €2,340 | - | -€2,340 | |
| Other amounts payable | 47/48 | €3,312 | €2,280 | -€1,031 | -31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,488 | €1,488 | = | 0.0% |
| Other operating charges | 640/8 | €64 | €66 | +€2 | +3.0% |
| Gross operating margin | 9900 | €149,624 | €154,807 | +€5,183 | +3.5% |
| Operating profit (loss) | 9901 | €148,072 | €153,253 | +€5,181 | +3.5% |
| Financial charges | 65/66B | €1,817 | €1,426 | -€392 | -21.6% |
| Recurring financial charges | 65 | €1,817 | €1,426 | -€392 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €146,255 | €151,828 | +€5,572 | +3.8% |
| Income taxes | 67/77 | €32,567 | €33,962 | +€1,395 | +4.3% |
| Profit (loss) for the period | 9904 | €113,688 | €117,866 | +€4,178 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €113,688 | €117,866 | +€4,178 | +3.7% |
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 8 October 2026 via checked.be.