HR Construct: 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.
HR Construct
Largest movements
- Receivables within one year +€130,564
up €130,564 (+3598.3%), from €3,628 to €134,192
- Receivables after one year +€59,000
new in 2025: €59,000
- Cash +€13,279
up €13,279 (+25.9%), from €51,327 to €64,606
mainly Net result for the year (+€164,196) and Tax, wage and social debts (+€39,122)
- Reserves +€163,363
up €163,363 (+412.8%), from €39,579 to €202,942
- Tax, wage and social debts +€39,122
up €39,122 (+248.0%), from €15,777 to €54,899
- Gross operating margin +€161,265
up €161,265 (+310.2%), from €51,990 to €213,255
- Taxes +€38,543
up €38,543 (+370.2%), from €10,412 to €48,954
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 | €60,362 | €261,924 | +€201,562 | +333.9% |
| Formation expenses | 20 | €490 | €0 | -€490 | -100.0% |
| Fixed assets | 21/28 | €4,917 | €4,022 | -€895 | -18.2% |
| Tangible fixed assets | 22/27 | €4,017 | €3,122 | -€895 | -22.3% |
| Plant, machinery and equipment | 23 | €4,017 | €3,122 | -€895 | -22.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €54,955 | €257,902 | +€202,946 | +369.3% |
| Amounts receivable after more than one year | 29 | - | €59,000 | +€59,000 | |
| Other amounts receivable | 291 | - | €59,000 | +€59,000 | |
| Amounts receivable within one year | 40/41 | €3,628 | €134,192 | +€130,564 | +3598.3% |
| Other amounts receivable | 41 | €3,628 | €134,192 | +€130,564 | +3598.3% |
| Cash at bank and in hand | 54/58 | €51,327 | €64,606 | +€13,279 | +25.9% |
| Deferred charges and accrued income | 490/1 | - | €103 | +€103 | |
| Total equity and liabilities | 10/49 | €60,362 | €261,924 | +€201,562 | +333.9% |
| Equity | 10/15 | €43,079 | €206,442 | +€163,363 | +379.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €39,579 | €202,942 | +€163,363 | +412.8% |
| Distributable reserves | 133 | €39,579 | €202,942 | +€163,363 | +412.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,283 | €55,482 | +€38,199 | +221.0% |
| Amounts payable within one year | 42/48 | €17,283 | €55,482 | +€38,199 | +221.0% |
| Trade debts | 44 | €1,506 | €0 | -€1,506 | -100.0% |
| Suppliers | 440/4 | €1,506 | €0 | -€1,506 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,777 | €54,899 | +€39,122 | +248.0% |
| Taxes | 450/3 | €15,777 | €54,899 | +€39,122 | +248.0% |
| Other amounts payable | 47/48 | - | €583 | +€583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,926 | €1,385 | -€542 | -28.1% |
| Gross operating margin | 9900 | €51,990 | €213,255 | +€161,265 | +310.2% |
| Operating profit (loss) | 9901 | €50,064 | €211,871 | +€161,806 | +323.2% |
| Financial income | 75/76B | - | €1,333 | +€1,333 | |
| Recurring financial income | 75 | - | €1,333 | +€1,333 | |
| Financial charges | 65/66B | €74 | €54 | -€20 | -26.5% |
| Recurring financial charges | 65 | €74 | €54 | -€20 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €49,991 | €213,150 | +€163,159 | +326.4% |
| Income taxes | 67/77 | €10,412 | €48,954 | +€38,543 | +370.2% |
| Profit (loss) for the period | 9904 | €39,579 | €164,196 | +€124,617 | +314.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,579 | €164,196 | +€124,617 | +314.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.