HMx: 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.
HMx
Largest movements
- Tangible fixed assets +€42,455
up €42,455 (+350.0%), from €12,129 to €54,585
of which Furniture and vehicles: +€43,309
- Cash -€13,718
down €13,718 (-45.1%), from €30,437 to €16,719
mainly Investment in fixed assets (net) (-€50,756) and Tax, wage and social debts (-€17,646)
- Receivables within one year -€13,465
down €13,465 (-41.4%), from €32,510 to €19,045
of which Trade receivables: -€13,465
- Deferred charges and accrued income +€2,466
new in 2025: €2,466
- Other debts +€28,155
up €28,155 (+15727.2%), from €179 to €28,334
- Tax, wage and social debts -€17,646
down €17,646 (-69.5%), from €25,393 to €7,747
- Profit (loss) carried forward +€9,552
new in 2025: €9,552
- Trade debts -€2,323
down €2,323 (-17.6%), from €13,210 to €10,887
- Gross operating margin -€33,419
down €33,419 (-61.9%), from €53,976 to €20,557
- Taxes -€13,839
down €13,839 (-84.4%), from €16,395 to €2,556
- Purchases and services -€10,477
no longer reported in 2025 (was €10,477)
- Depreciation +€5,514
up €5,514 (+197.9%), from €2,786 to €8,300
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 | €75,076 | €92,814 | +€17,737 | +23.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €12,129 | €54,585 | +€42,455 | +350.0% |
| Tangible fixed assets | 22/27 | €12,129 | €54,585 | +€42,455 | +350.0% |
| Plant, machinery and equipment | 23 | €4,782 | €3,929 | -€854 | -17.8% |
| Furniture and vehicles | 24 | €7,347 | €50,656 | +€43,309 | +589.5% |
| Current assets | 29/58 | €62,947 | €38,229 | -€24,718 | -39.3% |
| Amounts receivable within one year | 40/41 | €32,510 | €19,045 | -€13,465 | -41.4% |
| Trade receivables | 40 | €32,510 | €19,045 | -€13,465 | -41.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €30,437 | €16,719 | -€13,718 | -45.1% |
| Deferred charges and accrued income | 490/1 | - | €2,466 | +€2,466 | |
| Total equity and liabilities | 10/49 | €75,076 | €92,814 | +€17,737 | +23.6% |
| Equity | 10/15 | €36,294 | €45,846 | +€9,552 | +26.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €34,794 | €34,794 | = | 0.0% |
| Distributable reserves | 133 | €34,794 | €34,794 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €9,552 | +€9,552 | |
| Amounts payable | 17/49 | €38,782 | €46,968 | +€8,186 | +21.1% |
| Amounts payable within one year | 42/48 | €38,782 | €46,968 | +€8,186 | +21.1% |
| Trade debts | 44 | €13,210 | €10,887 | -€2,323 | -17.6% |
| Suppliers | 440/4 | €13,210 | €10,887 | -€2,323 | -17.6% |
| Taxes, remuneration and social security | 45 | €25,393 | €7,747 | -€17,646 | -69.5% |
| Taxes | 450/3 | €25,393 | €7,747 | -€17,646 | -69.5% |
| Other amounts payable | 47/48 | €179 | €28,334 | +€28,155 | +15727.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €10,477 | - | -€10,477 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,786 | €8,300 | +€5,514 | +197.9% |
| Other operating charges | 640/8 | - | €74 | +€74 | |
| Gross operating margin | 9900 | €53,976 | €20,557 | -€33,419 | -61.9% |
| Operating profit (loss) | 9901 | €51,190 | €12,182 | -€39,007 | -76.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +4200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +4200.0% |
| Financial charges | 65/66B | - | €75 | +€75 | |
| Recurring financial charges | 65 | - | €75 | +€75 | |
| Profit (loss) for the period before taxes | 9903 | €51,190 | €12,108 | -€39,082 | -76.3% |
| Income taxes | 67/77 | €16,395 | €2,556 | -€13,839 | -84.4% |
| Profit (loss) for the period | 9904 | €34,794 | €9,552 | -€25,243 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,794 | €9,552 | -€25,243 | -72.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.