HMS: 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.
HMS
Largest movements
- Cash +€4,026
up €4,026 (+44.3%), from €9,084 to €13,110
mainly Net result for the year (+€11,034) and Stocks and contracts (+€1,747)
- Stocks and contracts -€1,747
down €1,747 (-55.5%), from €3,146 to €1,399
- Tangible fixed assets -€1,181
down €1,181 (-27.9%), from €4,235 to €3,054
of which Plant, machinery and equipment: -€851
- Receivables within one year +€851
new in 2025: €851
- Profit (loss) carried forward +€11,034
up €11,034 (+47.1%), from -€23,424 to -€12,389
- Other debts -€5,678
no longer reported in 2025 (was €5,678)
- Trade debts -€1,729
down €1,729 (-34.3%), from €5,045 to €3,315
- Tax, wage and social debts -€1,677
down €1,677 (-17.6%), from €9,506 to €7,829
- Gross operating margin +€9,819
up €9,819 (+122.8%), from €7,994 to €17,814
- Other operating charges +€662
up €662 (+13.6%), from €4,865 to €5,526
- Depreciation +€392
up €392 (+49.7%), from €789 to €1,181
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 | €16,465 | €18,415 | +€1,950 | +11.8% |
| Fixed assets | 21/28 | €4,235 | €3,054 | -€1,181 | -27.9% |
| Tangible fixed assets | 22/27 | €4,235 | €3,054 | -€1,181 | -27.9% |
| Plant, machinery and equipment | 23 | €2,715 | €1,864 | -€851 | -31.3% |
| Furniture and vehicles | 24 | €1,520 | €1,190 | -€331 | -21.7% |
| Current assets | 29/58 | €12,230 | €15,361 | +€3,131 | +25.6% |
| Stocks and contracts in progress | 3 | €3,146 | €1,399 | -€1,747 | -55.5% |
| Stocks | 30/36 | €3,146 | €1,399 | -€1,747 | -55.5% |
| Amounts receivable within one year | 40/41 | - | €851 | +€851 | |
| Other amounts receivable | 41 | - | €851 | +€851 | |
| Cash at bank and in hand | 54/58 | €9,084 | €13,110 | +€4,026 | +44.3% |
| Total equity and liabilities | 10/49 | €16,465 | €18,415 | +€1,950 | +11.8% |
| Equity | 10/15 | -€3,764 | €7,271 | +€11,034 | |
| Contributions | 10/11 | €17,800 | €17,800 | = | 0.0% |
| Outside capital | 11 | €17,800 | €17,800 | = | 0.0% |
| Other | 1109/19 | €17,800 | €17,800 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,424 | -€12,389 | +€11,034 | +47.1% |
| Amounts payable | 17/49 | €20,229 | €11,144 | -€9,085 | -44.9% |
| Amounts payable within one year | 42/48 | €20,229 | €11,144 | -€9,085 | -44.9% |
| Trade debts | 44 | €5,045 | €3,315 | -€1,729 | -34.3% |
| Suppliers | 440/4 | €5,045 | €3,315 | -€1,729 | -34.3% |
| Taxes, remuneration and social security | 45 | €9,506 | €7,829 | -€1,677 | -17.6% |
| Taxes | 450/3 | €9,506 | €7,829 | -€1,677 | -17.6% |
| Other amounts payable | 47/48 | €5,678 | - | -€5,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €789 | €1,181 | +€392 | +49.7% |
| Other operating charges | 640/8 | €4,865 | €5,526 | +€662 | +13.6% |
| Gross operating margin | 9900 | €7,994 | €17,814 | +€9,819 | +122.8% |
| Operating profit (loss) | 9901 | €2,341 | €11,106 | +€8,765 | +374.5% |
| Financial charges | 65/66B | €96 | €72 | -€24 | -25.1% |
| Recurring financial charges | 65 | €96 | €72 | -€24 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €2,245 | €11,034 | +€8,790 | +391.6% |
| Profit (loss) for the period | 9904 | €2,245 | €11,034 | +€8,790 | +391.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,245 | €11,034 | +€8,790 | +391.6% |
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 3 October 2026 via checked.be.