HR Roads: 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 Roads
Largest movements
- Cash +€102,646
up €102,646 (+64.3%), from €159,552 to €262,198
mainly Net result for the year (+€75,231) and Receivables within one year (+€18,667)
- Receivables within one year -€18,667
down €18,667 (-44.4%), from €42,064 to €23,397
- Reserves +€75,231
up €75,231 (+43.2%), from €174,317 to €249,548
- Tax, wage and social debts +€4,727
up €4,727 (+20.3%), from €23,323 to €28,050
of which Taxes: +€7,977
- Other debts +€3,173
up €3,173 (+479%), from €662 to €3,835
- Gross operating margin +€27,592
up €27,592 (+36.4%), from €75,876 to €103,468
- Taxes +€8,607
up €8,607 (+39.2%), from €21,962 to €30,569
- Financial income +€1,112
up €1,112 (+54.3%), from €2,048 to €3,159
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 | €203,561 | €287,778 | +€84,217 | +41.4% |
| Fixed assets | 21/28 | €901 | €1,130 | +€229 | +25.4% |
| Tangible fixed assets | 22/27 | €901 | €1,130 | +€229 | +25.4% |
| Plant, machinery and equipment | 23 | €156 | €606 | +€450 | +289% |
| Furniture and vehicles | 24 | €745 | €524 | -€221 | -29.6% |
| Current assets | 29/58 | €202,660 | €286,648 | +€83,988 | +41.4% |
| Amounts receivable within one year | 40/41 | €42,064 | €23,397 | -€18,667 | -44.4% |
| Trade receivables | 40 | €42,064 | €23,397 | -€18,667 | -44.4% |
| Cash at bank and in hand | 54/58 | €159,552 | €262,198 | +€102,646 | +64.3% |
| Deferred charges and accrued income | 490/1 | €1,045 | €1,053 | +€9 | +0.8% |
| Total equity and liabilities | 10/49 | €203,561 | €287,778 | +€84,217 | +41.4% |
| Equity | 10/15 | €179,317 | €254,548 | +€75,231 | +42.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €174,317 | €249,548 | +€75,231 | +43.2% |
| Distributable reserves | 133 | €174,317 | €249,548 | +€75,231 | +43.2% |
| Amounts payable | 17/49 | €24,244 | €33,230 | +€8,986 | +37.1% |
| Amounts payable within one year | 42/48 | €24,244 | €33,230 | +€8,986 | +37.1% |
| Trade debts | 44 | €259 | €1,345 | +€1,086 | +420% |
| Suppliers | 440/4 | €259 | €1,345 | +€1,086 | +420% |
| Taxes, remuneration and social security | 45 | €23,323 | €28,050 | +€4,727 | +20.3% |
| Taxes | 450/3 | €20,073 | €28,050 | +€7,977 | +39.7% |
| Remuneration and social security | 454/9 | €3,250 | €0 | -€3,250 | -100% |
| Other amounts payable | 47/48 | €662 | €3,835 | +€3,173 | +479% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €307 | -€93 | -23.3% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €75,876 | €103,468 | +€27,592 | +36.4% |
| Operating profit (loss) | 9901 | €75,025 | €102,695 | +€27,671 | +36.9% |
| Financial income | 75/76B | €2,048 | €3,159 | +€1,112 | +54.3% |
| Recurring financial income | 75 | €2,048 | €3,159 | +€1,112 | +54.3% |
| Financial charges | 65/66B | €77 | €54 | -€23 | -29.7% |
| Recurring financial charges | 65 | €77 | €54 | -€23 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €76,996 | €105,801 | +€28,805 | +37.4% |
| Income taxes | 67/77 | €21,962 | €30,569 | +€8,607 | +39.2% |
| Profit (loss) for the period | 9904 | €55,033 | €75,231 | +€20,198 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,033 | €75,231 | +€20,198 | +36.7% |
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 17 October 2026 via checked.be.