HN Welding: 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.
HN Welding
Largest movements
- Cash +€43,931
up €43,931 (+91.3%), from €48,140 to €92,071
mainly Net result for the year (+€60,079) and Depreciation (+€14,131)
- Receivables within one year +€12,195
up €12,195 (+6.7%), from €180,999 to €193,194
of which Trade receivables: +€30,195
- Tangible fixed assets +€10,269
up €10,269 (+14.8%), from €69,273 to €79,542
of which Plant, machinery and equipment: +€11,952
- Reserves +€60,079
up €60,079 (+22.3%), from €268,988 to €329,067
- Tax, wage and social debts +€6,553
up €6,553 (+131%), from €5,014 to €11,567
- Gross operating margin +€59,472
up €59,472 (+115%), from €51,603 to €111,075
- Turnover +€51,991
up €51,991 (+40.7%), from €127,586 to €179,577
- Taxes +€26,503
up €26,503 (+279%), from €9,500 to €36,003
- Purchases and services -€7,481
down €7,481 (-9.8%), from €75,983 to €68,502
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.
Derived cash bridge
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 | €301,202 | €367,597 | +€66,395 | +22.0% |
| Fixed assets | 21/28 | €72,063 | €82,332 | +€10,269 | +14.3% |
| Tangible fixed assets | 22/27 | €69,273 | €79,542 | +€10,269 | +14.8% |
| Land and buildings | 22 | €33,805 | €33,413 | -€392 | -1.2% |
| Plant, machinery and equipment | 23 | €29,707 | €41,659 | +€11,952 | +40.2% |
| Furniture and vehicles | 24 | €5,761 | €4,470 | -€1,291 | -22.4% |
| Financial fixed assets | 28 | €2,790 | €2,790 | = | 0.0% |
| Current assets | 29/58 | €229,139 | €285,265 | +€56,126 | +24.5% |
| Amounts receivable within one year | 40/41 | €180,999 | €193,194 | +€12,195 | +6.7% |
| Trade receivables | 40 | €41,180 | €71,375 | +€30,195 | +73.3% |
| Other amounts receivable | 41 | €139,819 | €121,819 | -€18,000 | -12.9% |
| Cash at bank and in hand | 54/58 | €48,140 | €92,071 | +€43,931 | +91.3% |
| Total equity and liabilities | 10/49 | €301,202 | €367,597 | +€66,395 | +22.0% |
| Equity | 10/15 | €269,988 | €330,067 | +€60,079 | +22.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €268,988 | €329,067 | +€60,079 | +22.3% |
| Distributable reserves | 133 | €268,988 | €329,067 | +€60,079 | +22.3% |
| Amounts payable | 17/49 | €31,214 | €37,530 | +€6,316 | +20.2% |
| Amounts payable within one year | 42/48 | €31,214 | €37,530 | +€6,316 | +20.2% |
| Trade debts | 44 | €3,415 | €4,814 | +€1,399 | +41.0% |
| Suppliers | 440/4 | €3,415 | €4,814 | +€1,399 | +41.0% |
| Taxes, remuneration and social security | 45 | €5,014 | €11,567 | +€6,553 | +131% |
| Taxes | 450/3 | €5,014 | €11,567 | +€6,553 | +131% |
| Other amounts payable | 47/48 | €22,785 | €21,149 | -€1,636 | -7.2% |
| Turnover | 70 | €127,586 | €179,577 | +€51,991 | +40.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €75,983 | €68,502 | -€7,481 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,909 | €14,131 | -€778 | -5.2% |
| Other operating charges | 640/8 | €849 | €873 | +€24 | +2.8% |
| Gross operating margin | 9900 | €51,603 | €111,075 | +€59,472 | +115% |
| Operating profit (loss) | 9901 | €35,845 | €96,071 | +€60,226 | +168% |
| Financial income | 75/76B | €29 | €11 | -€18 | -62.1% |
| Recurring financial income | 75 | €29 | €11 | -€18 | -62.1% |
| Financial charges | 65/66B | €87 | - | -€87 | |
| Recurring financial charges | 65 | €87 | - | -€87 | |
| Profit (loss) for the period before taxes | 9903 | €35,787 | €96,082 | +€60,295 | +168% |
| Income taxes | 67/77 | €9,500 | €36,003 | +€26,503 | +279% |
| Profit (loss) for the period | 9904 | €26,287 | €60,079 | +€33,792 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €26,287 | €60,079 | +€33,792 | +129% |
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 27 October 2026 via checked.be.