HR TEAM: 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 TEAM
Largest movements
- Cash -€66,586
down €66,586 (-90.7%), from €73,444 to €6,858
mainly Current portion of long-term debt (-€52,367) and Trade debts (-€48,423)
- Receivables within one year -€25,081
down €25,081 (-24.5%), from €102,308 to €77,226
of which Trade receivables: -€20,006
- Tangible fixed assets +€13,433
up €13,433 (+71.9%), from €18,694 to €32,127
of which Plant, machinery and equipment: +€18,744
- Current portion of long-term debt -€52,367
no longer reported in 2025 (was €52,367)
- Trade debts -€48,423
down €48,423 (-74.9%), from €64,647 to €16,225
- Other debts +€23,064
up €23,064 (+111%), from €20,850 to €43,914
- Staff costs +€32,175
up €32,175 (+619%), from €5,200 to €37,375
- Taxes -€10,238
down €10,238 (-66.5%), from €15,400 to €5,162
- Gross operating margin -€6,296
down €6,296 (-10.6%), from €59,512 to €53,216
- Financial charges +€1,357
up €1,357 (+116%), from €1,168 to €2,525
- Financial income +€1,031
up €1,031 (+2,062,900%), from €0 to €1,032
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 | €245,829 | €168,153 | -€77,676 | -31.6% |
| Fixed assets | 21/28 | €18,694 | €32,127 | +€13,433 | +71.9% |
| Tangible fixed assets | 22/27 | €18,694 | €32,127 | +€13,433 | +71.9% |
| Plant, machinery and equipment | 23 | €2,843 | €21,587 | +€18,744 | +659% |
| Furniture and vehicles | 24 | €3,888 | €241 | -€3,648 | -93.8% |
| Other tangible fixed assets | 26 | €11,962 | €10,300 | -€1,663 | -13.9% |
| Current assets | 29/58 | €227,135 | €136,026 | -€91,109 | -40.1% |
| Amounts receivable after more than one year | 29 | €51,383 | €51,383 | = | 0.0% |
| Trade receivables | 290 | €51,383 | €51,383 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €102,308 | €77,226 | -€25,081 | -24.5% |
| Trade receivables | 40 | €97,233 | €77,226 | -€20,006 | -20.6% |
| Other amounts receivable | 41 | €5,075 | - | -€5,075 | |
| Cash at bank and in hand | 54/58 | €73,444 | €6,858 | -€66,586 | -90.7% |
| Deferred charges and accrued income | 490/1 | €0 | €558 | +€558 | |
| Total equity and liabilities | 10/49 | €245,829 | €168,153 | -€77,676 | -31.6% |
| Equity | 10/15 | €75,973 | €76,755 | +€782 | +1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,860 | €46,860 | = | 0.0% |
| 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 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,913 | €23,695 | +€782 | +3.4% |
| Amounts payable | 17/49 | €169,856 | €91,398 | -€78,458 | -46.2% |
| Amounts payable within one year | 42/48 | €169,856 | €91,398 | -€78,458 | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €52,367 | - | -€52,367 | |
| Trade debts | 44 | €64,647 | €16,225 | -€48,423 | -74.9% |
| Suppliers | 440/4 | €64,647 | €16,225 | -€48,423 | -74.9% |
| Taxes, remuneration and social security | 45 | €31,992 | €31,259 | -€733 | -2.3% |
| Taxes | 450/3 | €31,992 | €15,562 | -€16,430 | -51.4% |
| Remuneration and social security | 454/9 | - | €15,697 | +€15,697 | |
| Other amounts payable | 47/48 | €20,850 | €43,914 | +€23,064 | +111% |
| Remuneration, social security and pensions | 62 | €5,200 | €37,375 | +€32,175 | +619% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,341 | €4,769 | -€572 | -10.7% |
| Other operating charges | 640/8 | €3,212 | €3,635 | +€422 | +13.2% |
| Gross operating margin | 9900 | €59,512 | €53,216 | -€6,296 | -10.6% |
| Operating profit (loss) | 9901 | €45,758 | €7,437 | -€38,321 | -83.7% |
| Financial income | 75/76B | €0 | €1,032 | +€1,031 | +2,062,900% |
| Recurring financial income | 75 | €0 | €1,032 | +€1,031 | +2,062,900% |
| Financial charges | 65/66B | €1,168 | €2,525 | +€1,357 | +116% |
| Recurring financial charges | 65 | €1,168 | €2,525 | +€1,357 | +116% |
| Profit (loss) for the period before taxes | 9903 | €44,591 | €5,944 | -€38,647 | -86.7% |
| Income taxes | 67/77 | €15,400 | €5,162 | -€10,238 | -66.5% |
| Profit (loss) for the period | 9904 | €29,191 | €782 | -€28,409 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,191 | €782 | -€28,409 | -97.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.