HRL SERVICES: 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.
HRL SERVICES
Largest movements
- Tangible fixed assets -€22,298
down €22,298 (-7.9%), from €282,607 to €260,309
of which Assets under construction and advance payments: -€15,036
- Cash -€21,012
down €21,012 (-58.5%), from €35,889 to €14,876
mainly Contributions, distributions and other (-€34,000) and Other debts (-€18,623)
- Receivables within one year +€13,550
up €13,550 (+49.1%), from €27,576 to €41,126
of which Trade receivables: +€14,552
- Deferred charges and accrued income -€5,198
down €5,198 (-100.0%), from €5,198 to €0
- Other debts -€18,623
down €18,623 (-64.2%), from €28,991 to €10,368
- Tax, wage and social debts +€18,571
up €18,571 (+489.8%), from €3,792 to €22,363
- Trade debts -€18,130
down €18,130 (-85.5%), from €21,199 to €3,069
- Reserves -€10,000
down €10,000 (-12.8%), from €77,860 to €67,860
of which Distributable reserves: -€10,000
- Debts after one year -€7,500
down €7,500 (-8.9%), from €84,375 to €76,875
- Depreciation +€2,994
up €2,994 (+13.9%), from €21,560 to €24,554
- Gross operating margin +€965
up €965 (+1.5%), from €62,508 to €63,473
- Taxes -€635
down €635 (-6.0%), from €10,509 to €9,874
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 | €351,270 | €316,312 | -€34,958 | -10.0% |
| Fixed assets | 21/28 | €282,607 | €260,309 | -€22,298 | -7.9% |
| Tangible fixed assets | 22/27 | €282,607 | €260,309 | -€22,298 | -7.9% |
| Land and buildings | 22 | €63,533 | €57,927 | -€5,606 | -8.8% |
| Plant, machinery and equipment | 23 | €2,625 | €2,046 | -€579 | -22.0% |
| Furniture and vehicles | 24 | €3,132 | €2,055 | -€1,078 | -34.4% |
| Assets under construction and advance payments | 27 | €213,317 | €198,281 | -€15,036 | -7.0% |
| Current assets | 29/58 | €68,663 | €56,002 | -€12,660 | -18.4% |
| Amounts receivable within one year | 40/41 | €27,576 | €41,126 | +€13,550 | +49.1% |
| Trade receivables | 40 | €26,520 | €41,072 | +€14,552 | +54.9% |
| Other amounts receivable | 41 | €1,056 | €54 | -€1,002 | -94.9% |
| Cash at bank and in hand | 54/58 | €35,889 | €14,876 | -€21,012 | -58.5% |
| Deferred charges and accrued income | 490/1 | €5,198 | €0 | -€5,198 | -100.0% |
| Total equity and liabilities | 10/49 | €351,270 | €316,312 | -€34,958 | -10.0% |
| Equity | 10/15 | €205,413 | €196,137 | -€9,276 | -4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €77,860 | €67,860 | -€10,000 | -12.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,000 | €66,000 | -€10,000 | -13.2% |
| Profit (loss) carried forward | 14 | €115,153 | €115,877 | +€724 | +0.6% |
| Amounts payable | 17/49 | €145,856 | €120,175 | -€25,682 | -17.6% |
| Amounts payable after more than one year | 17 | €84,375 | €76,875 | -€7,500 | -8.9% |
| Financial debts | 170/4 | €84,375 | €76,875 | -€7,500 | -8.9% |
| Amounts payable within one year | 42/48 | €61,481 | €43,300 | -€18,182 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €7,500 | = | 0.0% |
| Trade debts | 44 | €21,199 | €3,069 | -€18,130 | -85.5% |
| Suppliers | 440/4 | €21,199 | €3,069 | -€18,130 | -85.5% |
| Taxes, remuneration and social security | 45 | €3,792 | €22,363 | +€18,571 | +489.8% |
| Taxes | 450/3 | €3,792 | €22,363 | +€18,571 | +489.8% |
| Other amounts payable | 47/48 | €28,991 | €10,368 | -€18,623 | -64.2% |
| Non-recurring operating income | 76A | €12,515 | €0 | -€12,515 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,560 | €24,554 | +€2,994 | +13.9% |
| Other operating charges | 640/8 | €1,379 | €1,375 | -€5 | -0.3% |
| Non-recurring operating charges | 66A | - | €575 | +€575 | |
| Gross operating margin | 9900 | €62,508 | €63,473 | +€965 | +1.5% |
| Operating profit (loss) | 9901 | €39,569 | €36,970 | -€2,600 | -6.6% |
| Financial charges | 65/66B | €2,274 | €2,372 | +€98 | +4.3% |
| Recurring financial charges | 65 | €2,274 | €2,372 | +€98 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €37,295 | €34,597 | -€2,698 | -7.2% |
| Income taxes | 67/77 | €10,509 | €9,874 | -€635 | -6.0% |
| Profit (loss) for the period | 9904 | €26,786 | €24,724 | -€2,063 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,786 | €24,724 | -€2,063 | -7.7% |
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 10 October 2026 via checked.be.