HR & Engineering Solutions: 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 & Engineering Solutions
Largest movements
- Cash -€13,833
down €13,833 (-32.2%), from €43,012 to €29,180
mainly Investment in fixed assets (net) (-€16,029) and Net result for the year (-€11,714)
- Receivables within one year +€7,797
up €7,797 (+19.0%), from €40,936 to €48,733
of which Trade receivables: +€5,665
- Tangible fixed assets +€2,923
up €2,923 (+12.2%), from €24,016 to €26,939
of which Furniture and vehicles: +€1,995
- Profit (loss) carried forward -€11,714
down €11,714 (-34.2%), from €34,283 to €22,569
- Reserves -€9,000
down €9,000 (-21.0%), from €42,875 to €33,875
- Other debts +€8,550
new in 2025: €8,550
- Accrued charges and deferred income +€8,524
up €8,524 (+12508.9%), from €68 to €8,592
- Trade debts +€7,614
up €7,614 (+415.9%), from €1,831 to €9,444
- Depreciation +€3,816
up €3,816 (+41.1%), from €9,290 to €13,106
- Gross operating margin -€1,030
down €1,030 (-45.2%), from €2,277 to €1,247
- Other operating charges +€344
up €344 (+34.5%), from €998 to €1,342
- Financial income -€275
down €275 (-10.9%), from €2,514 to €2,239
- Financial charges -€89
down €89 (-15.9%), from €560 to €471
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 | €108,763 | €105,593 | -€3,170 | -2.9% |
| Fixed assets | 21/28 | €24,131 | €27,054 | +€2,923 | +12.1% |
| Tangible fixed assets | 22/27 | €24,016 | €26,939 | +€2,923 | +12.2% |
| Plant, machinery and equipment | 23 | €5,214 | €6,142 | +€928 | +17.8% |
| Furniture and vehicles | 24 | €18,801 | €20,796 | +€1,995 | +10.6% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €84,633 | €78,539 | -€6,093 | -7.2% |
| Amounts receivable within one year | 40/41 | €40,936 | €48,733 | +€7,797 | +19.0% |
| Trade receivables | 40 | €1,464 | €7,129 | +€5,665 | +387.0% |
| Other amounts receivable | 41 | €39,472 | €41,604 | +€2,132 | +5.4% |
| Cash at bank and in hand | 54/58 | €43,012 | €29,180 | -€13,833 | -32.2% |
| Deferred charges and accrued income | 490/1 | €685 | €627 | -€58 | -8.4% |
| Total equity and liabilities | 10/49 | €108,763 | €105,593 | -€3,170 | -2.9% |
| Equity | 10/15 | €89,658 | €68,944 | -€20,714 | -23.1% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €42,875 | €33,875 | -€9,000 | -21.0% |
| Distributable reserves | 133 | €42,875 | €33,875 | -€9,000 | -21.0% |
| Profit (loss) carried forward | 14 | €34,283 | €22,569 | -€11,714 | -34.2% |
| Amounts payable | 17/49 | €19,105 | €36,649 | +€17,544 | +91.8% |
| Amounts payable after more than one year | 17 | €8,294 | €2,800 | -€5,494 | -66.2% |
| Financial debts | 170/4 | €8,294 | €2,800 | -€5,494 | -66.2% |
| Amounts payable within one year | 42/48 | €10,743 | €25,257 | +€14,514 | +135.1% |
| Current portion of amounts payable after more than one year | 42 | €5,355 | €5,494 | +€139 | +2.6% |
| Trade debts | 44 | €1,831 | €9,444 | +€7,614 | +415.9% |
| Suppliers | 440/4 | €1,831 | €9,444 | +€7,614 | +415.9% |
| Taxes, remuneration and social security | 45 | €3,557 | €1,769 | -€1,788 | -50.3% |
| Taxes | 450/3 | €3,557 | €1,769 | -€1,788 | -50.3% |
| Other amounts payable | 47/48 | - | €8,550 | +€8,550 | |
| Accrued charges and deferred income | 492/3 | €68 | €8,592 | +€8,524 | +12508.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,290 | €13,106 | +€3,816 | +41.1% |
| Other operating charges | 640/8 | €998 | €1,342 | +€344 | +34.5% |
| Gross operating margin | 9900 | €2,277 | €1,247 | -€1,030 | -45.2% |
| Operating profit (loss) | 9901 | -€8,011 | -€13,201 | -€5,190 | -64.8% |
| Financial income | 75/76B | €2,514 | €2,239 | -€275 | -10.9% |
| Recurring financial income | 75 | €2,514 | €2,239 | -€275 | -10.9% |
| Financial charges | 65/66B | €560 | €471 | -€89 | -15.9% |
| Recurring financial charges | 65 | €560 | €471 | -€89 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,056 | -€11,432 | -€5,376 | -88.8% |
| Income taxes | 67/77 | €278 | €281 | +€3 | +1.1% |
| Profit (loss) for the period | 9904 | -€6,335 | -€11,714 | -€5,379 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,335 | -€11,714 | -€5,379 | -84.9% |
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 5 October 2026 via checked.be.