HR SQUARED: 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 SQUARED
Largest movements
- Cash -€75,914
down €75,914 (-22.6%), from €336,293 to €260,379
mainly Receivables after one year (-€68,000) and Other debts (-€23,905)
- Receivables after one year +€68,000
new in 2024: €68,000
- Tangible fixed assets +€9,309
up €9,309 (+809%), from €1,151 to €10,460
of which Land and buildings: +€6,600
- Other debts -€23,905
down €23,905 (-89.4%), from €26,735 to €2,830
- Profit (loss) carried forward +€17,291
up €17,291 (+14.9%), from €116,122 to €133,413
- Reserves +€15,000
up €15,000 (+8.8%), from €169,860 to €184,860
of which Distributable reserves: +€15,000
- Trade debts -€4,207
down €4,207 (-31.3%), from €13,447 to €9,240
- Purchases and services +€51,243
up €51,243 (+70.8%), from €72,414 to €123,657
- Gross operating margin -€38,847
down €38,847 (-47.8%), from €81,282 to €42,435
- Turnover +€12,396
up €12,396 (+8.1%), from €153,696 to €166,092
- Taxes -€11,813
down €11,813 (-49.3%), from €23,964 to €12,151
- Financial income +€4,063
up €4,063 (+6,770,883%), from €0 to €4,063
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,861 | €358,401 | +€1,540 | +0.4% |
| Fixed assets | 21/28 | €1,151 | €10,460 | +€9,309 | +809% |
| Tangible fixed assets | 22/27 | €1,151 | €10,460 | +€9,309 | +809% |
| Land and buildings | 22 | - | €6,600 | +€6,600 | |
| Plant, machinery and equipment | 23 | €241 | €107 | -€134 | -55.7% |
| Furniture and vehicles | 24 | €910 | €3,753 | +€2,843 | +312% |
| Current assets | 29/58 | €355,710 | €347,941 | -€7,769 | -2.2% |
| Amounts receivable after more than one year | 29 | - | €68,000 | +€68,000 | |
| Other amounts receivable | 291 | - | €68,000 | +€68,000 | |
| Amounts receivable within one year | 40/41 | €18,554 | €18,664 | +€110 | +0.6% |
| Trade receivables | 40 | €18,554 | €18,664 | +€110 | +0.6% |
| Cash at bank and in hand | 54/58 | €336,293 | €260,379 | -€75,914 | -22.6% |
| Deferred charges and accrued income | 490/1 | €863 | €898 | +€36 | +4.1% |
| Total equity and liabilities | 10/49 | €356,861 | €358,401 | +€1,540 | +0.4% |
| Equity | 10/15 | €298,382 | €330,673 | +€32,291 | +10.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €169,860 | €184,860 | +€15,000 | +8.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €168,000 | €183,000 | +€15,000 | +8.9% |
| Profit (loss) carried forward | 14 | €116,122 | €133,413 | +€17,291 | +14.9% |
| Amounts payable | 17/49 | €58,479 | €27,728 | -€30,751 | -52.6% |
| Amounts payable within one year | 42/48 | €58,479 | €27,728 | -€30,751 | -52.6% |
| Trade debts | 44 | €13,447 | €9,240 | -€4,207 | -31.3% |
| Suppliers | 440/4 | €13,447 | €9,240 | -€4,207 | -31.3% |
| Taxes, remuneration and social security | 45 | €18,297 | €15,659 | -€2,638 | -14.4% |
| Taxes | 450/3 | €15,247 | €12,409 | -€2,838 | -18.6% |
| Remuneration and social security | 454/9 | €3,050 | €3,250 | +€200 | +6.6% |
| Other amounts payable | 47/48 | €26,735 | €2,830 | -€23,905 | -89.4% |
| Turnover | 70 | €153,696 | €166,092 | +€12,396 | +8.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €72,414 | €123,657 | +€51,243 | +70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,351 | €1,120 | -€1,232 | -52.4% |
| Other operating charges | 640/8 | €895 | €856 | -€40 | -4.4% |
| Gross operating margin | 9900 | €81,282 | €42,435 | -€38,847 | -47.8% |
| Operating profit (loss) | 9901 | €78,036 | €40,460 | -€37,575 | -48.2% |
| Financial income | 75/76B | €0 | €4,063 | +€4,063 | +6,770,883% |
| Recurring financial income | 75 | €0 | €4,063 | +€4,063 | +6,770,883% |
| Financial charges | 65/66B | €48 | €80 | +€32 | +67.4% |
| Recurring financial charges | 65 | €48 | €80 | +€32 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | €77,988 | €44,442 | -€33,545 | -43.0% |
| Income taxes | 67/77 | €23,964 | €12,151 | -€11,813 | -49.3% |
| Profit (loss) for the period | 9904 | €54,024 | €32,291 | -€21,733 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,024 | €32,291 | -€21,733 | -40.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.