HR TRADING: 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 TRADING
Largest movements
- Receivables within one year -€34,802
down €34,802 (-90.9%), from €38,265 to €3,464
of which Trade receivables: -€33,923
- Stocks and contracts +€18,662
up €18,662 (+83.5%), from €22,346 to €41,008
- Cash -€9,986
down €9,986 (-50.3%), from €19,849 to €9,863
mainly Trade debts (-€43,108) and Stocks and contracts (-€18,662)
- Trade debts -€43,108
down €43,108 (-62.3%), from €69,241 to €26,133
- Contributions +€15,100
up €15,100 (+431%), from €3,500 to €18,600
- Tax, wage and social debts +€1,278
up €1,278 (+47.4%), from €2,698 to €3,976
- Purchases and services +€81,022
up €81,022 (+20.5%), from €395,869 to €476,890
- Turnover +€80,576
up €80,576 (+20.2%), from €398,403 to €478,979
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 | €83,555 | €56,892 | -€26,663 | -31.9% |
| Fixed assets | 21/28 | €3,095 | €2,557 | -€538 | -17.4% |
| Intangible fixed assets | 21 | €318 | - | -€318 | |
| Tangible fixed assets | 22/27 | €602 | €382 | -€220 | -36.5% |
| Furniture and vehicles | 24 | €602 | €382 | -€220 | -36.5% |
| Financial fixed assets | 28 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €80,460 | €54,335 | -€26,125 | -32.5% |
| Stocks and contracts in progress | 3 | €22,346 | €41,008 | +€18,662 | +83.5% |
| Stocks | 30/36 | €22,346 | €41,008 | +€18,662 | +83.5% |
| Amounts receivable within one year | 40/41 | €38,265 | €3,464 | -€34,802 | -90.9% |
| Trade receivables | 40 | €33,923 | - | -€33,923 | |
| Other amounts receivable | 41 | €4,342 | €3,464 | -€878 | -20.2% |
| Cash at bank and in hand | 54/58 | €19,849 | €9,863 | -€9,986 | -50.3% |
| Total equity and liabilities | 10/49 | €83,555 | €56,892 | -€26,663 | -31.9% |
| Equity | 10/15 | €11,616 | €26,783 | +€15,167 | +131% |
| Contributions | 10/11 | €3,500 | €18,600 | +€15,100 | +431% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €6,256 | €6,323 | +€67 | +1.1% |
| Amounts payable | 17/49 | €71,939 | €30,109 | -€41,830 | -58.1% |
| Amounts payable within one year | 42/48 | €71,939 | €30,109 | -€41,830 | -58.1% |
| Trade debts | 44 | €69,241 | €26,133 | -€43,108 | -62.3% |
| Suppliers | 440/4 | €69,241 | €26,133 | -€43,108 | -62.3% |
| Taxes, remuneration and social security | 45 | €2,698 | €3,976 | +€1,278 | +47.4% |
| Taxes | 450/3 | €2,698 | €3,976 | +€1,278 | +47.4% |
| Turnover | 70 | €398,403 | €478,979 | +€80,576 | +20.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €395,869 | €476,890 | +€81,022 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €764 | €538 | -€227 | -29.6% |
| Other operating charges | 640/8 | €4,252 | €2,068 | -€2,184 | -51.4% |
| Gross operating margin | 9900 | €8,049 | €7,769 | -€280 | -3.5% |
| Operating profit (loss) | 9901 | €3,032 | €5,163 | +€2,131 | +70.3% |
| Financial charges | 65/66B | €57 | €1,901 | +€1,844 | +3,234% |
| Recurring financial charges | 65 | €57 | €1,901 | +€1,844 | +3,234% |
| Profit (loss) for the period before taxes | 9903 | €2,975 | €3,263 | +€287 | +9.7% |
| Income taxes | 67/77 | €2,698 | €3,195 | +€498 | +18.5% |
| Profit (loss) for the period | 9904 | €278 | €67 | -€210 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €278 | €67 | -€210 | -75.8% |
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 27 October 2026 via checked.be.