HRelations Consultancy: 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.
HRelations Consultancy
Largest movements
- Cash +€40,996
up €40,996 (+44.8%), from €91,501 to €132,497
mainly Net result for the year (+€59,520) and Receivables within one year (+€26,717)
- Receivables within one year -€26,717
down €26,717 (-84.9%), from €31,460 to €4,743
of which Trade receivables: -€31,460
- Tangible fixed assets -€13,604
down €13,604 (-7.1%), from €191,949 to €178,345
of which Furniture and vehicles: -€8,096
- Reserves +€59,520
up €59,520 (+25.0%), from €238,212 to €297,731
- Debts after one year -€50,000
no longer reported in 2025 (was €50,000)
- Tax, wage and social debts -€5,603
down €5,603 (-30.0%), from €18,696 to €13,093
of which Taxes: -€5,603
- Accrued charges and deferred income -€3,164
no longer reported in 2025 (was €3,164)
- Gross operating margin +€34,913
up €34,913 (+57.6%), from €60,581 to €95,494
- Taxes +€12,483
up €12,483 (+161%), from €7,774 to €20,257
- Other operating charges -€10,480
down €10,480 (-84.6%), from €12,383 to €1,903
- Financial charges -€3,019
down €3,019 (-93.5%), from €3,229 to €210
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 | €315,449 | €316,143 | +€695 | +0.2% |
| Fixed assets | 21/28 | €191,949 | €178,345 | -€13,604 | -7.1% |
| Tangible fixed assets | 22/27 | €191,949 | €178,345 | -€13,604 | -7.1% |
| Land and buildings | 22 | €173,134 | €168,575 | -€4,559 | -2.6% |
| Plant, machinery and equipment | 23 | €2,399 | €1,450 | -€949 | -39.6% |
| Furniture and vehicles | 24 | €16,417 | €8,320 | -€8,096 | -49.3% |
| Current assets | 29/58 | €123,500 | €137,798 | +€14,299 | +11.6% |
| Amounts receivable within one year | 40/41 | €31,460 | €4,743 | -€26,717 | -84.9% |
| Trade receivables | 40 | €31,460 | - | -€31,460 | |
| Other amounts receivable | 41 | - | €4,743 | +€4,743 | |
| Cash at bank and in hand | 54/58 | €91,501 | €132,497 | +€40,996 | +44.8% |
| Deferred charges and accrued income | 490/1 | €539 | €559 | +€20 | +3.8% |
| Total equity and liabilities | 10/49 | €315,449 | €316,143 | +€695 | +0.2% |
| Equity | 10/15 | €243,212 | €302,731 | +€59,520 | +24.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €238,212 | €297,731 | +€59,520 | +25.0% |
| Distributable reserves | 133 | €238,212 | €297,731 | +€59,520 | +25.0% |
| Amounts payable | 17/49 | €72,237 | €13,412 | -€58,825 | -81.4% |
| Amounts payable after more than one year | 17 | €50,000 | - | -€50,000 | |
| Financial debts | 170/4 | €50,000 | - | -€50,000 | |
| Amounts payable within one year | 42/48 | €19,073 | €13,412 | -€5,661 | -29.7% |
| Trade debts | 44 | €173 | €7 | -€166 | -96.1% |
| Suppliers | 440/4 | €173 | €7 | -€166 | -96.1% |
| Taxes, remuneration and social security | 45 | €18,696 | €13,093 | -€5,603 | -30.0% |
| Taxes | 450/3 | €17,799 | €12,196 | -€5,603 | -31.5% |
| Remuneration and social security | 454/9 | €897 | €897 | = | 0.0% |
| Other amounts payable | 47/48 | €204 | €312 | +€108 | +53.0% |
| Accrued charges and deferred income | 492/3 | €3,164 | - | -€3,164 | |
| Non-recurring operating income | 76A | €1,722 | - | -€1,722 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,833 | €13,604 | -€228 | -1.7% |
| Other operating charges | 640/8 | €12,383 | €1,903 | -€10,480 | -84.6% |
| Gross operating margin | 9900 | €60,581 | €95,494 | +€34,913 | +57.6% |
| Operating profit (loss) | 9901 | €34,365 | €79,987 | +€45,621 | +133% |
| Financial charges | 65/66B | €3,229 | €210 | -€3,019 | -93.5% |
| Recurring financial charges | 65 | €3,229 | €210 | -€3,019 | -93.5% |
| Profit (loss) for the period before taxes | 9903 | €31,136 | €79,777 | +€48,640 | +156% |
| Income taxes | 67/77 | €7,774 | €20,257 | +€12,483 | +161% |
| Profit (loss) for the period | 9904 | €23,362 | €59,520 | +€36,157 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €23,362 | €59,520 | +€36,157 | +155% |
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.