HMZ Event: 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.
HMZ Event
Largest movements
- Receivables within one year +€119,890
up €119,890 (+55.6%), from €215,499 to €335,390
of which Other amounts receivable: +€111,150
- Deferred charges and accrued income +€22,625
new in 2025: €22,625
- Cash +€20,723
new in 2025: €20,723
mainly Net result for the year (+€85,433) and Other debts (+€62,000)
- Intangible fixed assets +€4,933
up €4,933 (+126.5%), from €3,900 to €8,833
- Other debts +€62,000
up €62,000 (+39.0%), from €158,910 to €220,910
- Tax, wage and social debts +€53,810
up €53,810 (+99.4%), from €54,126 to €107,935
of which Taxes: +€51,664
- Trade debts +€45,579
up €45,579 (+3548.9%), from €1,284 to €46,863
- Profit (loss) carried forward +€5,433
up €5,433 (+103.6%), from €5,245 to €10,677
- Gross operating margin -€31,334
down €31,334 (-17.8%), from €175,878 to €144,544
- Financial income +€7,582
up €7,582 (+119.7%), from €6,336 to €13,918
- Other operating charges +€6,516
up €6,516 (+2413.6%), from €270 to €6,786
- Staff costs +€4,280
up €4,280 (+8.1%), from €53,041 to €57,321
- Taxes +€2,307
up €2,307 (+108.6%), from €2,124 to €4,431
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 | €219,609 | €390,052 | +€170,443 | +77.6% |
| Fixed assets | 21/28 | €4,110 | €11,315 | +€7,205 | +175.3% |
| Intangible fixed assets | 21 | €3,900 | €8,833 | +€4,933 | +126.5% |
| Tangible fixed assets | 22/27 | - | €2,272 | +€2,272 | |
| Furniture and vehicles | 24 | - | €2,272 | +€2,272 | |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €215,499 | €378,737 | +€163,238 | +75.7% |
| Amounts receivable within one year | 40/41 | €215,499 | €335,390 | +€119,890 | +55.6% |
| Trade receivables | 40 | €2,537 | €11,277 | +€8,740 | +344.5% |
| Other amounts receivable | 41 | €212,963 | €324,113 | +€111,150 | +52.2% |
| Cash at bank and in hand | 54/58 | - | €20,723 | +€20,723 | |
| Deferred charges and accrued income | 490/1 | - | €22,625 | +€22,625 | |
| Total equity and liabilities | 10/49 | €219,609 | €390,052 | +€170,443 | +77.6% |
| Equity | 10/15 | €5,245 | €10,677 | +€5,433 | +103.6% |
| Profit (loss) carried forward | 14 | €5,245 | €10,677 | +€5,433 | +103.6% |
| Amounts payable | 17/49 | €214,364 | €379,375 | +€165,011 | +77.0% |
| Amounts payable within one year | 42/48 | €214,364 | €379,375 | +€165,011 | +77.0% |
| Current portion of amounts payable after more than one year | 42 | - | €3,667 | +€3,667 | |
| Financial debts | 43 | €45 | - | -€45 | |
| Credit institutions | 430/8 | €45 | - | -€45 | |
| Trade debts | 44 | €1,284 | €46,863 | +€45,579 | +3548.9% |
| Suppliers | 440/4 | €1,284 | €46,863 | +€45,579 | +3548.9% |
| Taxes, remuneration and social security | 45 | €54,126 | €107,935 | +€53,810 | +99.4% |
| Taxes | 450/3 | €44,703 | €96,367 | +€51,664 | +115.6% |
| Remuneration and social security | 454/9 | €9,423 | €11,568 | +€2,145 | +22.8% |
| Other amounts payable | 47/48 | €158,910 | €220,910 | +€62,000 | +39.0% |
| Remuneration, social security and pensions | 62 | €53,041 | €57,321 | +€4,280 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,477 | €1,295 | -€182 | -12.3% |
| Other operating charges | 640/8 | €270 | €6,786 | +€6,516 | +2413.6% |
| Non-recurring operating charges | 66A | - | €1,616 | +€1,616 | |
| Gross operating margin | 9900 | €175,878 | €144,544 | -€31,334 | -17.8% |
| Operating profit (loss) | 9901 | €121,090 | €77,526 | -€43,564 | -36.0% |
| Financial income | 75/76B | €6,336 | €13,918 | +€7,582 | +119.7% |
| Recurring financial income | 75 | €6,336 | €13,918 | +€7,582 | +119.7% |
| Financial charges | 65/66B | €57 | €1,580 | +€1,523 | +2661.6% |
| Recurring financial charges | 65 | €57 | €1,580 | +€1,523 | +2661.6% |
| Profit (loss) for the period before taxes | 9903 | €127,369 | €89,864 | -€37,505 | -29.4% |
| Income taxes | 67/77 | €2,124 | €4,431 | +€2,307 | +108.6% |
| Profit (loss) for the period | 9904 | €125,245 | €85,433 | -€39,812 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €125,245 | €85,433 | -€39,812 | -31.8% |
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 11 October 2026 via checked.be.