HR²: 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.
HR²
Largest movements
- Cash +€63,860
up €63,860 (+50.7%), from €125,912 to €189,772
mainly Other debts (+€196,922) and Net result for the year (+€195,001)
- Receivables within one year -€29,650
down €29,650 (-47.4%), from €62,532 to €32,882
of which Trade receivables: -€29,650
- Other debts +€196,922
up €196,922 (+2,826%), from €6,967 to €203,889
- Reserves -€152,919
down €152,919 (-98.8%), from €154,774 to €1,855
of which Distributable reserves: -€152,919
- Debts after one year -€11,002
down €11,002 (-26.1%), from €42,117 to €31,115
- Trade debts +€7,117
up €7,117 (+648%), from €1,099 to €8,216
- Tax, wage and social debts -€7,077
down €7,077 (-51.5%), from €13,754 to €6,677
- Gross operating margin +€64,108
up €64,108 (+30.7%), from €208,646 to €272,754
- Taxes +€13,363
up €13,363 (+28.2%), from €47,465 to €60,828
- Depreciation +€7,255
up €7,255 (+119%), from €6,100 to €13,355
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 | €248,917 | €282,304 | +€33,387 | +13.4% |
| Fixed assets | 21/28 | €56,344 | €55,334 | -€1,010 | -1.8% |
| Tangible fixed assets | 22/27 | €56,344 | €55,334 | -€1,010 | -1.8% |
| Plant, machinery and equipment | 23 | €2,091 | €13,526 | +€11,434 | +547% |
| Furniture and vehicles | 24 | €1,052 | €0 | -€1,052 | -100% |
| Leasing and similar rights | 25 | €52,501 | €41,251 | -€11,250 | -21.4% |
| Other tangible fixed assets | 26 | €699 | €557 | -€142 | -20.3% |
| Current assets | 29/58 | €192,574 | €226,971 | +€34,397 | +17.9% |
| Amounts receivable within one year | 40/41 | €62,532 | €32,882 | -€29,650 | -47.4% |
| Trade receivables | 40 | €62,532 | €32,882 | -€29,650 | -47.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €125,912 | €189,772 | +€63,860 | +50.7% |
| Deferred charges and accrued income | 490/1 | €4,130 | €4,317 | +€187 | +4.5% |
| Total equity and liabilities | 10/49 | €248,917 | €282,304 | +€33,387 | +13.4% |
| Equity | 10/15 | €174,324 | €21,405 | -€152,919 | -87.7% |
| Contributions | 10/11 | €19,550 | €19,550 | = | 0.0% |
| Reserves | 13 | €154,774 | €1,855 | -€152,919 | -98.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €154,774 | €1,855 | -€152,919 | -98.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €74,594 | €260,899 | +€186,305 | +250% |
| Amounts payable after more than one year | 17 | €42,117 | €31,115 | -€11,002 | -26.1% |
| Financial debts | 170/4 | €42,117 | €31,115 | -€11,002 | -26.1% |
| Amounts payable within one year | 42/48 | €32,476 | €229,784 | +€197,308 | +608% |
| Current portion of amounts payable after more than one year | 42 | €10,657 | €11,002 | +€346 | +3.2% |
| Trade debts | 44 | €1,099 | €8,216 | +€7,117 | +648% |
| Suppliers | 440/4 | €1,099 | €8,216 | +€7,117 | +648% |
| Taxes, remuneration and social security | 45 | €13,754 | €6,677 | -€7,077 | -51.5% |
| Taxes | 450/3 | €13,754 | €6,677 | -€7,077 | -51.5% |
| Other amounts payable | 47/48 | €6,967 | €203,889 | +€196,922 | +2,826% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,100 | €13,355 | +€7,255 | +119% |
| Other operating charges | 640/8 | €1,516 | €2,504 | +€989 | +65.2% |
| Gross operating margin | 9900 | €208,646 | €272,754 | +€64,108 | +30.7% |
| Operating profit (loss) | 9901 | €201,030 | €256,895 | +€55,864 | +27.8% |
| Financial income | 75/76B | €2 | €558 | +€556 | +24,182% |
| Recurring financial income | 75 | €2 | €558 | +€556 | +24,182% |
| Financial charges | 65/66B | €649 | €1,624 | +€975 | +150% |
| Recurring financial charges | 65 | €649 | €1,624 | +€975 | +150% |
| Profit (loss) for the period before taxes | 9903 | €200,383 | €255,829 | +€55,446 | +27.7% |
| Income taxes | 67/77 | €47,465 | €60,828 | +€13,363 | +28.2% |
| Profit (loss) for the period | 9904 | €152,919 | €195,001 | +€42,083 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €152,919 | €195,001 | +€42,083 | +27.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.