HR POWER: 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 POWER
Largest movements
- Receivables within one year -€29,907
down €29,907 (-27.3%), from €109,382 to €79,475
of which Trade receivables: -€30,883
- Cash -€29,775
down €29,775 (-63.3%), from €47,070 to €17,295
mainly Contributions, distributions and other (-€66,500) and Trade debts (-€18,839)
- Tangible fixed assets -€12,060
down €12,060 (-5.8%), from €208,155 to €196,094
of which Land and buildings: -€10,692
- Reserves -€30,026
down €30,026 (-45.1%), from €66,596 to €36,570
- Trade debts -€18,839
down €18,839 (-28.2%), from €66,858 to €48,019
- Debts after one year -€10,000
down €10,000 (-8.1%), from €123,333 to €113,333
- Other debts -€9,532
down €9,532 (-12.1%), from €78,862 to €69,329
- Tax, wage and social debts -€5,267
down €5,267 (-100%), from €5,267 to €0
- Gross operating margin -€37,264
down €37,264 (-31.4%), from €118,488 to €81,224
- Taxes -€5,516
down €5,516 (-30.1%), from €18,334 to €12,818
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 | €369,516 | €299,182 | -€70,334 | -19.0% |
| Fixed assets | 21/28 | €208,155 | €196,094 | -€12,060 | -5.8% |
| Tangible fixed assets | 22/27 | €208,155 | €196,094 | -€12,060 | -5.8% |
| Land and buildings | 22 | €195,485 | €184,794 | -€10,692 | -5.5% |
| Plant, machinery and equipment | 23 | €1,727 | €2,210 | +€483 | +27.9% |
| Furniture and vehicles | 24 | €9,730 | €9,091 | -€639 | -6.6% |
| Other tangible fixed assets | 26 | €1,212 | €0 | -€1,212 | -100% |
| Current assets | 29/58 | €161,361 | €103,087 | -€58,274 | -36.1% |
| Amounts receivable within one year | 40/41 | €109,382 | €79,475 | -€29,907 | -27.3% |
| Trade receivables | 40 | €107,715 | €76,832 | -€30,883 | -28.7% |
| Other amounts receivable | 41 | €1,667 | €2,643 | +€976 | +58.6% |
| Cash at bank and in hand | 54/58 | €47,070 | €17,295 | -€29,775 | -63.3% |
| Deferred charges and accrued income | 490/1 | €4,909 | €6,317 | +€1,408 | +28.7% |
| Total equity and liabilities | 10/49 | €369,516 | €299,182 | -€70,334 | -19.0% |
| Equity | 10/15 | €85,196 | €55,170 | -€30,026 | -35.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,596 | €36,570 | -€30,026 | -45.1% |
| Distributable reserves | 133 | €66,596 | €36,570 | -€30,026 | -45.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €284,320 | €244,012 | -€40,308 | -14.2% |
| Amounts payable after more than one year | 17 | €123,333 | €113,333 | -€10,000 | -8.1% |
| Financial debts | 170/4 | €123,333 | €113,333 | -€10,000 | -8.1% |
| Amounts payable within one year | 42/48 | €160,987 | €130,679 | -€30,308 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €13,331 | +€3,331 | +33.3% |
| Trade debts | 44 | €66,858 | €48,019 | -€18,839 | -28.2% |
| Suppliers | 440/4 | €66,858 | €48,019 | -€18,839 | -28.2% |
| Taxes, remuneration and social security | 45 | €5,267 | €0 | -€5,267 | -100% |
| Taxes | 450/3 | €5,267 | €0 | -€5,267 | -100% |
| Other amounts payable | 47/48 | €78,862 | €69,329 | -€9,532 | -12.1% |
| Non-recurring operating income | 76A | €8,000 | €0 | -€8,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,116 | €19,742 | +€626 | +3.3% |
| Other operating charges | 640/8 | €2,903 | €3,190 | +€287 | +9.9% |
| Non-recurring operating charges | 66A | €1,989 | €0 | -€1,989 | -100% |
| Gross operating margin | 9900 | €118,488 | €81,224 | -€37,264 | -31.4% |
| Operating profit (loss) | 9901 | €94,479 | €58,291 | -€36,188 | -38.3% |
| Financial income | 75/76B | €4 | €174 | +€171 | +4,785% |
| Recurring financial income | 75 | €4 | €174 | +€171 | +4,785% |
| Financial charges | 65/66B | €9,651 | €9,174 | -€478 | -5.0% |
| Recurring financial charges | 65 | €9,651 | €9,174 | -€478 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €84,831 | €49,292 | -€35,539 | -41.9% |
| Income taxes | 67/77 | €18,334 | €12,818 | -€5,516 | -30.1% |
| Profit (loss) for the period | 9904 | €66,497 | €36,474 | -€30,023 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €66,497 | €36,474 | -€30,023 | -45.1% |
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 21 October 2026 via checked.be.