HMS-i: 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-i
Largest movements
- Receivables within one year +€28,733
up €28,733 (+391.8%), from €7,334 to €36,067
of which Trade receivables: +€29,702
- Tangible fixed assets +€12,515
up €12,515 (+513.4%), from €2,438 to €14,953
of which Furniture and vehicles: +€12,880
- Debts after one year +€52,359
up €52,359 (+73.0%), from €71,730 to €124,089
- Profit (loss) carried forward -€8,754
down €8,754 (-28.7%), from -€30,495 to -€39,249
- Trade debts -€3,933
down €3,933 (-39.0%), from €10,096 to €6,163
- Tax, wage and social debts +€1,760
up €1,760 (+35.4%), from €4,973 to €6,733
- Gross operating margin +€32,564
up €32,564 (+87.8%), from -€37,089 to -€4,525
- Other operating charges -€2,303
down €2,303 (-80.0%), from €2,879 to €576
- Depreciation +€1,073
up €1,073 (+104.9%), from €1,022 to €2,095
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €130,125 | €171,020 | +€40,895 | +31.4% |
| Fixed assets | 21/28 | €122,438 | €134,953 | +€12,515 | +10.2% |
| Tangible fixed assets | 22/27 | €2,438 | €14,953 | +€12,515 | +513.4% |
| Plant, machinery and equipment | 23 | €1,377 | €1,012 | -€365 | -26.5% |
| Furniture and vehicles | 24 | €1,061 | €13,940 | +€12,880 | +1214.4% |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €7,687 | €36,067 | +€28,380 | +369.2% |
| Amounts receivable within one year | 40/41 | €7,334 | €36,067 | +€28,733 | +391.8% |
| Trade receivables | 40 | €6,365 | €36,067 | +€29,702 | +466.6% |
| Other amounts receivable | 41 | €969 | - | -€969 | |
| Deferred charges and accrued income | 490/1 | €353 | - | -€353 | |
| Total equity and liabilities | 10/49 | €130,125 | €171,020 | +€40,895 | +31.4% |
| Equity | 10/15 | €31,005 | €22,251 | -€8,754 | -28.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,495 | -€39,249 | -€8,754 | -28.7% |
| Amounts payable | 17/49 | €99,120 | €148,770 | +€49,649 | +50.1% |
| Amounts payable after more than one year | 17 | €71,730 | €124,089 | +€52,359 | +73.0% |
| Other amounts payable | 178/9 | €71,730 | €124,089 | +€52,359 | +73.0% |
| Amounts payable within one year | 42/48 | €27,390 | €24,681 | -€2,710 | -9.9% |
| Financial debts | 43 | €12,321 | €11,784 | -€537 | -4.4% |
| Credit institutions | 430/8 | €12,321 | €11,784 | -€537 | -4.4% |
| Trade debts | 44 | €10,096 | €6,163 | -€3,933 | -39.0% |
| Suppliers | 440/4 | €10,096 | €6,163 | -€3,933 | -39.0% |
| Taxes, remuneration and social security | 45 | €4,973 | €6,733 | +€1,760 | +35.4% |
| Taxes | 450/3 | €4,973 | €6,733 | +€1,760 | +35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,022 | €2,095 | +€1,073 | +104.9% |
| Other operating charges | 640/8 | €2,879 | €576 | -€2,303 | -80.0% |
| Gross operating margin | 9900 | -€37,089 | -€4,525 | +€32,564 | +87.8% |
| Operating profit (loss) | 9901 | -€40,991 | -€7,197 | +€33,794 | +82.4% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €1,288 | €1,558 | +€270 | +21.0% |
| Recurring financial charges | 65 | €1,288 | €1,558 | +€270 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | -€42,276 | -€8,754 | +€33,522 | +79.3% |
| Profit (loss) for the period | 9904 | -€42,276 | -€8,754 | +€33,522 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,276 | -€8,754 | +€33,522 | +79.3% |
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 7 October 2026 via checked.be.