HR-TOPIC: 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-TOPIC
Largest movements
- Cash +€32,130
up €32,130 (+103%), from €31,253 to €63,383
mainly Net result for the year (+€107,539) and Current investments (+€11,299)
- Current investments -€11,299
down €11,299 (-30.1%), from €37,516 to €26,217
- Receivables within one year -€5,931
down €5,931 (-16.3%), from €36,383 to €30,452
of which Trade receivables: -€5,534
- Other debts +€10,414
up €10,414 (+10.5%), from €99,069 to €109,483
- Trade debts +€3,154
up €3,154 (+402%), from €784 to €3,939
- Financial income +€17,444
up €17,444 (+311,502%), from €6 to €17,450
- Gross operating margin +€4,269
up €4,269 (+3.8%), from €112,463 to €116,732
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 | €109,582 | €123,505 | +€13,924 | +12.7% |
| Fixed assets | 21/28 | €229 | €0 | -€229 | -100% |
| Tangible fixed assets | 22/27 | €229 | €0 | -€229 | -100% |
| Plant, machinery and equipment | 23 | €229 | €0 | -€229 | -100% |
| Current assets | 29/58 | €109,353 | €123,505 | +€14,153 | +12.9% |
| Amounts receivable within one year | 40/41 | €36,383 | €30,452 | -€5,931 | -16.3% |
| Trade receivables | 40 | €35,494 | €29,959 | -€5,534 | -15.6% |
| Other amounts receivable | 41 | €890 | €493 | -€397 | -44.6% |
| Current investments | 50/53 | €37,516 | €26,217 | -€11,299 | -30.1% |
| Cash at bank and in hand | 54/58 | €31,253 | €63,383 | +€32,130 | +103% |
| Deferred charges and accrued income | 490/1 | €4,201 | €3,454 | -€747 | -17.8% |
| Total equity and liabilities | 10/49 | €109,582 | €123,505 | +€13,924 | +12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,582 | €123,505 | +€13,924 | +12.7% |
| Amounts payable within one year | 42/48 | €109,582 | €123,505 | +€13,924 | +12.7% |
| Financial debts | 43 | €174 | €0 | -€174 | -100% |
| Credit institutions | 430/8 | €174 | €0 | -€174 | -100% |
| Trade debts | 44 | €784 | €3,939 | +€3,154 | +402% |
| Suppliers | 440/4 | €784 | €3,939 | +€3,154 | +402% |
| Taxes, remuneration and social security | 45 | €9,555 | €10,084 | +€529 | +5.5% |
| Taxes | 450/3 | €9,555 | €10,084 | +€529 | +5.5% |
| Other amounts payable | 47/48 | €99,069 | €109,483 | +€10,414 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250 | €229 | -€21 | -8.3% |
| Other operating charges | 640/8 | €1,564 | €1,186 | -€378 | -24.2% |
| Gross operating margin | 9900 | €112,463 | €116,732 | +€4,269 | +3.8% |
| Operating profit (loss) | 9901 | €110,649 | €115,316 | +€4,668 | +4.2% |
| Financial income | 75/76B | €6 | €17,450 | +€17,444 | +311,502% |
| Recurring financial income | 75 | €6 | €17,450 | +€17,444 | +311,502% |
| Financial charges | 65/66B | €63 | €68 | +€5 | +8.7% |
| Recurring financial charges | 65 | €63 | €68 | +€5 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €110,591 | €132,698 | +€22,106 | +20.0% |
| Income taxes | 67/77 | €24,402 | €25,158 | +€757 | +3.1% |
| Profit (loss) for the period | 9904 | €86,189 | €107,539 | +€21,350 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €86,189 | €107,539 | +€21,350 | +24.8% |
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 20 October 2026 via checked.be.