HND MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€3,884
up €3,884 (+17.6%), from €22,079 to €25,963
mainly Other debts (+€15,392) and Net result for the year (+€8,692)
- Tangible fixed assets +€544
up €544 (+9.0%), from €6,061 to €6,606
- Other debts +€15,392
up €15,392 (+3407.5%), from €452 to €15,843
- Profit (loss) carried forward -€8,842
no longer reported in 2025 (was €8,842)
- Current portion of long-term debt -€3,009
down €3,009 (-73.6%), from €4,091 to €1,082
- Tax, wage and social debts +€2,630
up €2,630 (+41.3%), from €6,374 to €9,004
of which Taxes: +€2,630
- Debts after one year -€1,082
down €1,082 (-28.0%), from €3,865 to €2,783
- Gross operating margin +€1,441
up €1,441 (+11.3%), from €12,789 to €14,230
- Depreciation +€369
up €369 (+29.4%), from €1,253 to €1,622
- Other operating charges -€188
down €188 (-21.3%), from €882 to €694
- Taxes +€172
up €172 (+6.0%), from €2,861 to €3,033
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 | €28,435 | €32,878 | +€4,443 | +15.6% |
| Fixed assets | 21/28 | €6,061 | €6,606 | +€544 | +9.0% |
| Tangible fixed assets | 22/27 | €6,061 | €6,606 | +€544 | +9.0% |
| Furniture and vehicles | 24 | €6,061 | €6,606 | +€544 | +9.0% |
| Current assets | 29/58 | €22,373 | €26,272 | +€3,899 | +17.4% |
| Amounts receivable within one year | 40/41 | €270 | €273 | +€3 | +1.1% |
| Other amounts receivable | 41 | €270 | €273 | +€3 | +1.1% |
| Cash at bank and in hand | 54/58 | €22,079 | €25,963 | +€3,884 | +17.6% |
| Deferred charges and accrued income | 490/1 | €24 | €36 | +€12 | +48.5% |
| Total equity and liabilities | 10/49 | €28,435 | €32,878 | +€4,443 | +15.6% |
| Equity | 10/15 | €11,842 | €3,000 | -€8,842 | -74.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,842 | - | -€8,842 | |
| Amounts payable | 17/49 | €16,593 | €29,878 | +€13,285 | +80.1% |
| Amounts payable after more than one year | 17 | €3,865 | €2,783 | -€1,082 | -28.0% |
| Financial debts | 170/4 | €3,865 | €2,783 | -€1,082 | -28.0% |
| Amounts payable within one year | 42/48 | €12,727 | €27,094 | +€14,367 | +112.9% |
| Current portion of amounts payable after more than one year | 42 | €4,091 | €1,082 | -€3,009 | -73.6% |
| Trade debts | 44 | €1,810 | €1,165 | -€645 | -35.6% |
| Suppliers | 440/4 | €1,810 | €1,165 | -€645 | -35.6% |
| Taxes, remuneration and social security | 45 | €6,374 | €9,004 | +€2,630 | +41.3% |
| Taxes | 450/3 | €4,095 | €6,725 | +€2,630 | +64.2% |
| Remuneration and social security | 454/9 | €2,279 | €2,279 | = | 0.0% |
| Other amounts payable | 47/48 | €452 | €15,843 | +€15,392 | +3407.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,253 | €1,622 | +€369 | +29.4% |
| Other operating charges | 640/8 | €882 | €694 | -€188 | -21.3% |
| Gross operating margin | 9900 | €12,789 | €14,230 | +€1,441 | +11.3% |
| Operating profit (loss) | 9901 | €10,653 | €11,914 | +€1,260 | +11.8% |
| Financial income | 75/76B | €1 | €120 | +€119 | +11784.2% |
| Recurring financial income | 75 | €1 | €120 | +€119 | +11784.2% |
| Financial charges | 65/66B | €250 | €309 | +€59 | +23.7% |
| Recurring financial charges | 65 | €250 | €309 | +€59 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €10,405 | €11,725 | +€1,320 | +12.7% |
| Income taxes | 67/77 | €2,861 | €3,033 | +€172 | +6.0% |
| Profit (loss) for the period | 9904 | €7,544 | €8,692 | +€1,148 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,544 | €8,692 | +€1,148 | +15.2% |
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 6 October 2026 via checked.be.