HND: 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.
HND
Largest movements
- Tangible fixed assets -€48,728
down €48,728 (-8.5%), from €574,998 to €526,271
- Debts after one year -€64,246
down €64,246 (-8.9%), from €719,101 to €654,855
of which Financial debts: -€33,818
- Profit (loss) carried forward +€15,673
up €15,673 (+8.2%), from -€191,257 to -€175,584
- Gross operating margin -€5,645
down €5,645 (-6.6%), from €86,085 to €80,441
- Financial charges -€3,512
down €3,512 (-23.4%), from €15,017 to €11,505
- Other operating charges +€902
up €902 (+24.8%), from €3,633 to €4,535
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 | €580,892 | €532,199 | -€48,693 | -8.4% |
| Fixed assets | 21/28 | €574,998 | €526,271 | -€48,728 | -8.5% |
| Tangible fixed assets | 22/27 | €574,998 | €526,271 | -€48,728 | -8.5% |
| Land and buildings | 22 | €574,998 | €526,271 | -€48,728 | -8.5% |
| Current assets | 29/58 | €5,894 | €5,928 | +€35 | +0.6% |
| Cash at bank and in hand | 54/58 | €5,894 | €5,928 | +€35 | +0.6% |
| Total equity and liabilities | 10/49 | €580,892 | €532,199 | -€48,693 | -8.4% |
| Equity | 10/15 | -€172,657 | -€156,984 | +€15,673 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€191,257 | -€175,584 | +€15,673 | +8.2% |
| Amounts payable | 17/49 | €753,549 | €689,183 | -€64,366 | -8.5% |
| Amounts payable after more than one year | 17 | €719,101 | €654,855 | -€64,246 | -8.9% |
| Financial debts | 170/4 | €498,599 | €464,781 | -€33,818 | -6.8% |
| Other amounts payable | 178/9 | €220,502 | €190,074 | -€30,428 | -13.8% |
| Amounts payable within one year | 42/48 | €34,448 | €34,328 | -€120 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €34,448 | €34,168 | -€280 | -0.8% |
| Trade debts | 44 | - | €160 | +€160 | |
| Suppliers | 440/4 | - | €160 | +€160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,216 | €48,728 | +€512 | +1.1% |
| Other operating charges | 640/8 | €3,633 | €4,535 | +€902 | +24.8% |
| Gross operating margin | 9900 | €86,085 | €80,441 | -€5,645 | -6.6% |
| Operating profit (loss) | 9901 | €34,236 | €27,178 | -€7,058 | -20.6% |
| Financial charges | 65/66B | €15,017 | €11,505 | -€3,512 | -23.4% |
| Recurring financial charges | 65 | €15,017 | €11,505 | -€3,512 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €19,219 | €15,673 | -€3,546 | -18.4% |
| Profit (loss) for the period | 9904 | €19,219 | €15,673 | -€3,546 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,219 | €15,673 | -€3,546 | -18.4% |
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 4 October 2026 via checked.be.