HR Coating: 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.
HR Coating
Largest movements
- Cash +€509,913
up €509,913 (+113%), from €450,054 to €959,967
mainly Other debts (+€669,500) and Net result for the year (+€544,037)
- Tangible fixed assets -€227,269
down €227,269 (-21.7%), from €1.0m to €821,155
of which Plant, machinery and equipment: -€182,348
- Deferred charges and accrued income -€43,144
down €43,144 (-98.1%), from €43,959 to €815
- Other debts +€669,500
up €669,500 (+1,087%), from €61,599 to €731,099
- Reserves -€239,347
down €239,347 (-15.5%), from €1.5m to €1.3m
of which Tax-exempt reserves: -€239,970
- Tax, wage and social debts -€215,721
down €215,721 (-89.9%), from €239,851 to €24,130
of which Taxes: -€225,546
- Profit (loss) carried forward +€60,385
up €60,385, from -€60,385 to €0
- Gross operating margin +€459,142
up €459,142 (+54.2%), from €847,004 to €1.3m
- Taxes +€186,195
up €186,195 (+339%), from €54,998 to €241,192
- Staff costs +€107,466
up €107,466 (+47.7%), from €225,400 to €332,866
- Financial income +€40,581
up €40,581 (+217%), from €18,715 to €59,296
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 | €2,365,433 | €2,642,365 | +€276,932 | +11.7% |
| Fixed assets | 21/28 | €1,048,424 | €821,155 | -€227,269 | -21.7% |
| Tangible fixed assets | 22/27 | €1,048,424 | €821,155 | -€227,269 | -21.7% |
| Land and buildings | 22 | €521,559 | €490,243 | -€31,316 | -6.0% |
| Plant, machinery and equipment | 23 | €495,135 | €312,787 | -€182,348 | -36.8% |
| Furniture and vehicles | 24 | €31,730 | €18,125 | -€13,605 | -42.9% |
| Current assets | 29/58 | €1,317,009 | €1,821,210 | +€504,201 | +38.3% |
| Stocks and contracts in progress | 3 | €153,655 | €158,144 | +€4,489 | +2.9% |
| Stocks | 30/36 | €153,655 | €158,144 | +€4,489 | +2.9% |
| Amounts receivable within one year | 40/41 | €147,701 | €156,335 | +€8,634 | +5.8% |
| Trade receivables | 40 | €62,332 | €126,836 | +€64,504 | +103% |
| Other amounts receivable | 41 | €85,370 | €29,500 | -€55,870 | -65.4% |
| Current investments | 50/53 | €521,639 | €545,949 | +€24,309 | +4.7% |
| Cash at bank and in hand | 54/58 | €450,054 | €959,967 | +€509,913 | +113% |
| Deferred charges and accrued income | 490/1 | €43,959 | €815 | -€43,144 | -98.1% |
| Total equity and liabilities | 10/49 | €2,365,433 | €2,642,365 | +€276,932 | +11.7% |
| Equity | 10/15 | €1,533,117 | €1,354,154 | -€178,963 | -11.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,543,501 | €1,304,154 | -€239,347 | -15.5% |
| Tax-exempt reserves | 132 | €576,770 | €336,800 | -€239,970 | -41.6% |
| Distributable reserves | 133 | €966,731 | €967,354 | +€623 | +0.1% |
| Profit (loss) carried forward | 14 | -€60,385 | €0 | +€60,385 | |
| Amounts payable | 17/49 | €832,316 | €1,288,211 | +€455,894 | +54.8% |
| Amounts payable after more than one year | 17 | €420,000 | €420,000 | = | 0.0% |
| Other amounts payable | 178/9 | €420,000 | €420,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €367,250 | €815,544 | +€448,294 | +122% |
| Financial debts | 43 | €33,777 | €33,611 | -€166 | -0.5% |
| Credit institutions | 430/8 | €33,777 | €33,611 | -€166 | -0.5% |
| Trade debts | 44 | €32,023 | €26,704 | -€5,319 | -16.6% |
| Suppliers | 440/4 | €32,023 | €26,704 | -€5,319 | -16.6% |
| Taxes, remuneration and social security | 45 | €239,851 | €24,130 | -€215,721 | -89.9% |
| Taxes | 450/3 | €225,546 | €0 | -€225,546 | -100% |
| Remuneration and social security | 454/9 | €14,305 | €24,130 | +€9,825 | +68.7% |
| Other amounts payable | 47/48 | €61,599 | €731,099 | +€669,500 | +1,087% |
| Accrued charges and deferred income | 492/3 | €45,067 | €52,667 | +€7,600 | +16.9% |
| Non-recurring operating income | 76A | €2,501 | €0 | -€2,501 | -100% |
| Remuneration, social security and pensions | 62 | €225,400 | €332,866 | +€107,466 | +47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229,966 | €231,434 | +€1,468 | +0.6% |
| Other operating charges | 640/8 | €6,647 | €6,573 | -€74 | -1.1% |
| Gross operating margin | 9900 | €847,004 | €1,306,146 | +€459,142 | +54.2% |
| Operating profit (loss) | 9901 | €384,991 | €735,273 | +€350,282 | +91.0% |
| Financial income | 75/76B | €18,715 | €59,296 | +€40,581 | +217% |
| Recurring financial income | 75 | €18,715 | €59,296 | +€40,581 | +217% |
| Financial charges | 65/66B | €15,037 | €9,339 | -€5,698 | -37.9% |
| Recurring financial charges | 65 | €15,037 | €9,339 | -€5,698 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €388,669 | €785,230 | +€396,560 | +102% |
| Income taxes | 67/77 | €54,998 | €241,192 | +€186,195 | +339% |
| Profit (loss) for the period | 9904 | €333,672 | €544,037 | +€210,366 | +63.0% |
| Transfer from tax-exempt reserves | 789 | €93,780 | €239,970 | +€146,190 | +156% |
| Transfer to tax-exempt reserves | 689 | €336,800 | €0 | -€336,800 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €90,652 | €784,007 | +€693,356 | +765% |
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 17 October 2026 via checked.be.