HR PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€15,489
up €15,489 (+209.8%), from €7,383 to €22,872
of which Other amounts receivable: +€14,410
- Tangible fixed assets +€9,711
new in 2025: €9,711
- Deferred charges and accrued income +€2,657
new in 2025: €2,657
- Cash +€1,058
up €1,058 (+14.2%), from €7,431 to €8,489
mainly Other debts (+€14,096) and Net result for the year (+€13,144)
- Other debts +€14,096
new in 2025: €14,096
- Debts after one year +€10,328
new in 2025: €10,328
- Current portion of long-term debt +€2,840
new in 2025: €2,840
- Tax, wage and social debts +€2,799
up €2,799 (+39.1%), from €7,155 to €9,954
of which Taxes: +€2,799
- Profit (loss) carried forward -€953
down €953 (-100.0%), from €953 to €0
- Gross operating margin +€15,301
up €15,301 (+227.8%), from €6,717 to €22,017
- Taxes +€2,396
up €2,396 (+92.6%), from €2,588 to €4,984
- Depreciation +€1,613
new in 2025: €1,613
- Other operating charges +€1,470
new in 2025: €1,470
- Financial income +€534
up €534 (+207.6%), from €257 to €791
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 | €14,814 | €43,729 | +€28,915 | +195.2% |
| Fixed assets | 21/28 | - | €9,711 | +€9,711 | |
| Tangible fixed assets | 22/27 | - | €9,711 | +€9,711 | |
| Furniture and vehicles | 24 | - | €9,711 | +€9,711 | |
| Current assets | 29/58 | €14,814 | €34,019 | +€19,204 | +129.6% |
| Amounts receivable within one year | 40/41 | €7,383 | €22,872 | +€15,489 | +209.8% |
| Trade receivables | 40 | €0 | €1,079 | +€1,079 | |
| Other amounts receivable | 41 | €7,383 | €21,793 | +€14,410 | +195.2% |
| Cash at bank and in hand | 54/58 | €7,431 | €8,489 | +€1,058 | +14.2% |
| Deferred charges and accrued income | 490/1 | - | €2,657 | +€2,657 | |
| Total equity and liabilities | 10/49 | €14,814 | €43,729 | +€28,915 | +195.2% |
| Equity | 10/15 | €5,953 | €5,000 | -€953 | -16.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €953 | €0 | -€953 | -100.0% |
| Amounts payable | 17/49 | €8,861 | €38,729 | +€29,868 | +337.1% |
| Amounts payable after more than one year | 17 | - | €10,328 | +€10,328 | |
| Financial debts | 170/4 | - | €10,328 | +€10,328 | |
| Amounts payable within one year | 42/48 | €8,861 | €28,401 | +€19,540 | +220.5% |
| Current portion of amounts payable after more than one year | 42 | - | €2,840 | +€2,840 | |
| Trade debts | 44 | €1,706 | €1,511 | -€195 | -11.4% |
| Suppliers | 440/4 | €1,706 | €1,511 | -€195 | -11.4% |
| Taxes, remuneration and social security | 45 | €7,155 | €9,954 | +€2,799 | +39.1% |
| Taxes | 450/3 | €7,155 | €9,954 | +€2,799 | +39.1% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | - | €14,096 | +€14,096 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,613 | +€1,613 | |
| Other operating charges | 640/8 | - | €1,470 | +€1,470 | |
| Gross operating margin | 9900 | €6,717 | €22,017 | +€15,301 | +227.8% |
| Operating profit (loss) | 9901 | €6,717 | €18,935 | +€12,218 | +181.9% |
| Financial income | 75/76B | €257 | €791 | +€534 | +207.6% |
| Recurring financial income | 75 | €257 | €791 | +€534 | +207.6% |
| Financial charges | 65/66B | €1,421 | €1,598 | +€176 | +12.4% |
| Recurring financial charges | 65 | €1,421 | €1,598 | +€176 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €5,552 | €18,127 | +€12,575 | +226.5% |
| Income taxes | 67/77 | €2,588 | €4,984 | +€2,396 | +92.6% |
| Profit (loss) for the period | 9904 | €2,965 | €13,144 | +€10,179 | +343.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,965 | €13,144 | +€10,179 | +343.3% |
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 10 October 2026 via checked.be.