HRDX: 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.
HRDX
Largest movements
- Cash +€150,417
up €150,417 (+297.9%), from €50,497 to €200,914
mainly Net result for the year (+€98,844) and Investment in fixed assets (net) (+€34,013)
- Tangible fixed assets -€34,945
down €34,945 (-93.2%), from €37,489 to €2,544
- Deferred charges and accrued income +€16,010
up €16,010 (+1589.5%), from €1,007 to €17,017
- Profit (loss) carried forward +€98,844
up €98,844 (+179.3%), from €55,129 to €153,972
- Tax, wage and social debts +€29,626
up €29,626 (+102.8%), from €28,823 to €58,450
of which Taxes: +€29,411
- Gross operating margin +€57,793
up €57,793 (+75.4%), from €76,636 to €134,429
- Taxes +€14,614
up €14,614 (+103.3%), from €14,150 to €28,764
- Depreciation -€6,354
down €6,354 (-87.2%), from €7,286 to €932
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 | €88,994 | €220,475 | +€131,482 | +147.7% |
| Fixed assets | 21/28 | €37,489 | €2,544 | -€34,945 | -93.2% |
| Tangible fixed assets | 22/27 | €37,489 | €2,544 | -€34,945 | -93.2% |
| Furniture and vehicles | 24 | €37,489 | €2,544 | -€34,945 | -93.2% |
| Current assets | 29/58 | €51,504 | €217,931 | +€166,427 | +323.1% |
| Cash at bank and in hand | 54/58 | €50,497 | €200,914 | +€150,417 | +297.9% |
| Deferred charges and accrued income | 490/1 | €1,007 | €17,017 | +€16,010 | +1589.5% |
| Total equity and liabilities | 10/49 | €88,994 | €220,475 | +€131,482 | +147.7% |
| Equity | 10/15 | €59,129 | €157,972 | +€98,844 | +167.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,129 | €153,972 | +€98,844 | +179.3% |
| Amounts payable | 17/49 | €29,865 | €62,503 | +€32,638 | +109.3% |
| Amounts payable within one year | 42/48 | €29,865 | €62,253 | +€32,388 | +108.4% |
| Trade debts | 44 | €250 | €2,152 | +€1,902 | +760.9% |
| Suppliers | 440/4 | €250 | €2,152 | +€1,902 | +760.9% |
| Taxes, remuneration and social security | 45 | €28,823 | €58,450 | +€29,626 | +102.8% |
| Taxes | 450/3 | €26,688 | €56,100 | +€29,411 | +110.2% |
| Remuneration and social security | 454/9 | €2,135 | €2,350 | +€215 | +10.1% |
| Other amounts payable | 47/48 | €792 | €1,651 | +€860 | +108.6% |
| Accrued charges and deferred income | 492/3 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,286 | €932 | -€6,354 | -87.2% |
| Other operating charges | 640/8 | €53 | €647 | +€594 | +1121.2% |
| Non-recurring operating charges | 66A | - | €4,149 | +€4,149 | |
| Gross operating margin | 9900 | €76,636 | €134,429 | +€57,793 | +75.4% |
| Operating profit (loss) | 9901 | €69,296 | €128,701 | +€59,405 | +85.7% |
| Financial charges | 65/66B | €17 | €1,093 | +€1,076 | +6279.2% |
| Recurring financial charges | 65 | €17 | €1,093 | +€1,076 | +6279.2% |
| Profit (loss) for the period before taxes | 9903 | €69,279 | €127,608 | +€58,329 | +84.2% |
| Income taxes | 67/77 | €14,150 | €28,764 | +€14,614 | +103.3% |
| Profit (loss) for the period | 9904 | €55,129 | €98,844 | +€43,715 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,129 | €98,844 | +€43,715 | +79.3% |
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 5 October 2026 via checked.be.