HR-MANAGEMENT: 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-MANAGEMENT
Largest movements
- Cash -€120,552
down €120,552 (-35.3%), from €341,763 to €221,212
mainly Current investments (-€100,000) and Contributions, distributions and other (-€59,965)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€34,862
up €34,862, from €0 to €34,862
of which Trade receivables: +€34,264
- Reserves +€11,118
up €11,118 (+4.0%), from €280,461 to €291,580
- Other debts +€4,317
up €4,317 (+14.7%), from €29,463 to €33,780
- Gross operating margin +€18,288
up €18,288 (+20.2%), from €90,593 to €108,881
- Taxes +€6,914
up €6,914 (+25.0%), from €27,643 to €34,557
- Depreciation -€2,375
down €2,375 (-43.1%), from €5,507 to €3,132
- Financial charges -€2,084
down €2,084 (-91.7%), from €2,274 to €190
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 | €346,630 | €362,222 | +€15,592 | +4.5% |
| Fixed assets | 21/28 | €4,281 | €5,603 | +€1,321 | +30.9% |
| Tangible fixed assets | 22/27 | €4,281 | €5,603 | +€1,321 | +30.9% |
| Furniture and vehicles | 24 | €4,281 | €1,269 | -€3,012 | -70.4% |
| Other tangible fixed assets | 26 | - | €4,334 | +€4,334 | |
| Current assets | 29/58 | €342,349 | €356,619 | +€14,271 | +4.2% |
| Amounts receivable within one year | 40/41 | €0 | €34,862 | +€34,862 | |
| Trade receivables | 40 | €0 | €34,264 | +€34,264 | |
| Other amounts receivable | 41 | - | €598 | +€598 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €341,763 | €221,212 | -€120,552 | -35.3% |
| Deferred charges and accrued income | 490/1 | €585 | €546 | -€39 | -6.7% |
| Total equity and liabilities | 10/49 | €346,630 | €362,222 | +€15,592 | +4.5% |
| Equity | 10/15 | €299,461 | €310,580 | +€11,118 | +3.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €280,461 | €291,580 | +€11,118 | +4.0% |
| Distributable reserves | 133 | €280,461 | €291,580 | +€11,118 | +4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,168 | €51,642 | +€4,474 | +9.5% |
| Amounts payable within one year | 42/48 | €47,168 | €51,642 | +€4,474 | +9.5% |
| Trade debts | 44 | €2,616 | €453 | -€2,164 | -82.7% |
| Suppliers | 440/4 | €2,616 | €453 | -€2,164 | -82.7% |
| Taxes, remuneration and social security | 45 | €15,089 | €17,410 | +€2,321 | +15.4% |
| Taxes | 450/3 | €15,089 | €17,410 | +€2,321 | +15.4% |
| Other amounts payable | 47/48 | €29,463 | €33,780 | +€4,317 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,507 | €3,132 | -€2,375 | -43.1% |
| Other operating charges | 640/8 | €808 | €918 | +€110 | +13.6% |
| Gross operating margin | 9900 | €90,593 | €108,881 | +€18,288 | +20.2% |
| Operating profit (loss) | 9901 | €84,279 | €104,831 | +€20,552 | +24.4% |
| Financial income | 75/76B | - | €999 | +€999 | |
| Recurring financial income | 75 | - | €999 | +€999 | |
| Financial charges | 65/66B | €2,274 | €190 | -€2,084 | -91.7% |
| Recurring financial charges | 65 | €2,274 | €190 | -€2,084 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | €82,004 | €105,640 | +€23,636 | +28.8% |
| Income taxes | 67/77 | €27,643 | €34,557 | +€6,914 | +25.0% |
| Profit (loss) for the period | 9904 | €54,361 | €71,083 | +€16,722 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,361 | €71,083 | +€16,722 | +30.8% |
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 15 October 2026 via checked.be.