HR Works: 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 Works
Largest movements
- Tangible fixed assets +€70,922
up €70,922 (+282%), from €25,113 to €96,035
of which Leasing and similar rights: +€74,052
- Cash -€13,188
down €13,188 (-54.9%), from €24,022 to €10,834
mainly Investment in fixed assets (net) (-€93,288) and Tax, wage and social debts (-€9,535)
- Intangible fixed assets -€1,438
no longer reported in 2025 (was €1,438)
- Debts after one year +€50,518
new in 2025: €50,518
- Current portion of long-term debt +€15,791
new in 2025: €15,791
- Tax, wage and social debts -€9,535
down €9,535 (-33.3%), from €28,627 to €19,093
of which Taxes: -€9,650
- Reserves +€6,161
up €6,161 (+43.7%), from €14,102 to €20,263
- Other debts -€5,336
no longer reported in 2025 (was €5,336)
- Gross operating margin -€20,315
down €20,315 (-34.1%), from €59,628 to €39,314
- Depreciation +€17,876
up €17,876 (+302%), from €5,928 to €23,805
- Taxes -€13,185
down €13,185 (-84.7%), from €15,564 to €2,379
- Financial charges +€6,467
up €6,467 (+1,209%), from €535 to €7,002
- Other operating charges -€1,532
down €1,532 (-85.0%), from €1,802 to €270
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 | €56,617 | €112,423 | +€55,806 | +98.6% |
| Fixed assets | 21/28 | €26,551 | €96,035 | +€69,483 | +262% |
| Intangible fixed assets | 21 | €1,438 | - | -€1,438 | |
| Tangible fixed assets | 22/27 | €25,113 | €96,035 | +€70,922 | +282% |
| Land and buildings | 22 | €24,299 | €20,635 | -€3,664 | -15.1% |
| Furniture and vehicles | 24 | €814 | €1,348 | +€534 | +65.6% |
| Leasing and similar rights | 25 | - | €74,052 | +€74,052 | |
| Current assets | 29/58 | €30,065 | €16,388 | -€13,677 | -45.5% |
| Amounts receivable within one year | 40/41 | €6,043 | €5,554 | -€489 | -8.1% |
| Trade receivables | 40 | €289 | - | -€289 | |
| Other amounts receivable | 41 | €5,754 | €5,554 | -€200 | -3.5% |
| Cash at bank and in hand | 54/58 | €24,022 | €10,834 | -€13,188 | -54.9% |
| Total equity and liabilities | 10/49 | €56,617 | €112,423 | +€55,806 | +98.6% |
| Equity | 10/15 | €19,102 | €25,263 | +€6,161 | +32.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €14,102 | €20,263 | +€6,161 | +43.7% |
| Distributable reserves | 133 | €14,102 | €20,263 | +€6,161 | +43.7% |
| Amounts payable | 17/49 | €37,515 | €87,160 | +€49,645 | +132% |
| Amounts payable after more than one year | 17 | - | €50,518 | +€50,518 | |
| Financial debts | 170/4 | - | €50,518 | +€50,518 | |
| Amounts payable within one year | 42/48 | €37,100 | €36,642 | -€458 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | - | €15,791 | +€15,791 | |
| Trade debts | 44 | €3,137 | €1,758 | -€1,379 | -43.9% |
| Suppliers | 440/4 | €3,137 | €1,758 | -€1,379 | -43.9% |
| Taxes, remuneration and social security | 45 | €28,627 | €19,093 | -€9,535 | -33.3% |
| Taxes | 450/3 | €26,837 | €17,187 | -€9,650 | -36.0% |
| Remuneration and social security | 454/9 | €1,790 | €1,905 | +€115 | +6.4% |
| Other amounts payable | 47/48 | €5,336 | - | -€5,336 | |
| Accrued charges and deferred income | 492/3 | €415 | - | -€415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,928 | €23,805 | +€17,876 | +302% |
| Other operating charges | 640/8 | €1,802 | €270 | -€1,532 | -85.0% |
| Gross operating margin | 9900 | €59,628 | €39,314 | -€20,315 | -34.1% |
| Operating profit (loss) | 9901 | €51,898 | €15,239 | -€36,659 | -70.6% |
| Financial income | 75/76B | - | €303 | +€303 | |
| Recurring financial income | 75 | - | €303 | +€303 | |
| Financial charges | 65/66B | €535 | €7,002 | +€6,467 | +1,209% |
| Recurring financial charges | 65 | €535 | €7,002 | +€6,467 | +1,209% |
| Profit (loss) for the period before taxes | 9903 | €51,362 | €8,540 | -€42,823 | -83.4% |
| Income taxes | 67/77 | €15,564 | €2,379 | -€13,185 | -84.7% |
| Profit (loss) for the period | 9904 | €35,799 | €6,161 | -€29,638 | -82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,799 | €6,161 | -€29,638 | -82.8% |
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 30 October 2026 via checked.be.