HRCM: what changed
Two fiscal 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.
HRCM
Largest movements
- Cash +€22,333
up €22,333 (+26.4%), from €84,717 to €107,050
mainly Net result for the year (+€20,265) and Deferred charges and accrued income (+€5,119)
- Deferred charges and accrued income -€5,119
down €5,119 (-87.9%), from €5,825 to €706
- Receivables within one year +€2,288
up €2,288 (+43.3%), from €5,284 to €7,572
of which Trade receivables: +€4,141
- Reserves +€20,265
up €20,265 (+30.4%), from €66,694 to €86,959
- Gross operating margin +€5,477
up €5,477 (+22.2%), from €24,694 to €30,171
- Depreciation -€5,092
down €5,092 (-96.5%), from €5,276 to €184
- Taxes +€2,901
up €2,901 (+61.5%), from €4,719 to €7,620
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.
Cash bridge derived
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 | €96,010 | €115,328 | +€19,318 | +20.1% |
| Fixed assets | 21/28 | €184 | €0 | -€184 | -100.0% |
| Tangible fixed assets | 22/27 | €184 | €0 | -€184 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €184 | €0 | -€184 | -100.0% |
| Current assets | 29/58 | €95,826 | €115,328 | +€19,502 | +20.4% |
| Amounts receivable within one year | 40/41 | €5,284 | €7,572 | +€2,288 | +43.3% |
| Trade receivables | 40 | €1,330 | €5,471 | +€4,141 | +311.4% |
| Other amounts receivable | 41 | €3,954 | €2,101 | -€1,853 | -46.9% |
| Cash at bank and in hand | 54/58 | €84,717 | €107,050 | +€22,333 | +26.4% |
| Deferred charges and accrued income | 490/1 | €5,825 | €706 | -€5,119 | -87.9% |
| Total equity and liabilities | 10/49 | €96,010 | €115,328 | +€19,318 | +20.1% |
| Equity | 10/15 | €69,194 | €89,459 | +€20,265 | +29.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €66,694 | €86,959 | +€20,265 | +30.4% |
| Distributable reserves | 133 | €66,694 | €86,959 | +€20,265 | +30.4% |
| Amounts payable | 17/49 | €26,816 | €25,869 | -€947 | -3.5% |
| Amounts payable within one year | 42/48 | €25,283 | €24,507 | -€776 | -3.1% |
| Trade debts | 44 | €2,238 | €1,897 | -€341 | -15.3% |
| Suppliers | 440/4 | €2,238 | €1,897 | -€341 | -15.3% |
| Taxes, remuneration and social security | 45 | €3,997 | €3,210 | -€787 | -19.7% |
| Taxes | 450/3 | €3,997 | €3,210 | -€787 | -19.7% |
| Other amounts payable | 47/48 | €19,048 | €19,401 | +€353 | +1.9% |
| Accrued charges and deferred income | 492/3 | €1,533 | €1,361 | -€171 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,276 | €184 | -€5,092 | -96.5% |
| Other operating charges | 640/8 | €693 | €713 | +€20 | +2.9% |
| Gross operating margin | 9900 | €24,694 | €30,171 | +€5,477 | +22.2% |
| Operating profit (loss) | 9901 | €18,725 | €29,274 | +€10,549 | +56.3% |
| Financial income | 75/76B | €135 | €62 | -€72 | -53.8% |
| Recurring financial income | 75 | €135 | €62 | -€72 | -53.8% |
| Financial charges | 65/66B | €1,623 | €1,451 | -€171 | -10.6% |
| Recurring financial charges | 65 | €1,623 | €1,451 | -€171 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €17,238 | €27,885 | +€10,648 | +61.8% |
| Income taxes | 67/77 | €4,719 | €7,620 | +€2,901 | +61.5% |
| Profit (loss) for the period | 9904 | €12,518 | €20,265 | +€7,747 | +61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,518 | €20,265 | +€7,747 | +61.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.