HRM TRADUCT: 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.
HRM TRADUCT
Largest movements
- Receivables after one year +€28,089
new in 2025: €28,089
- Tangible fixed assets +€14,546
up €14,546 (+729%), from €1,996 to €16,542
of which Furniture and vehicles: +€13,711
- Deferred charges and accrued income +€11,272
up €11,272 (+101%), from €11,137 to €22,410
- Cash -€6,010
down €6,010 (-25.0%), from €24,026 to €18,016
mainly Receivables after one year (-€28,089) and Investment in fixed assets (net) (-€16,796)
- Reserves +€73,493
new in 2025: €73,493
- Profit (loss) carried forward -€34,952
no longer reported in 2025 (was €34,952)
- Tax, wage and social debts +€7,192
up €7,192 (+179%), from €4,011 to €11,202
of which Taxes: +€4,542
- Other debts +€3,000
new in 2025: €3,000
- Gross operating margin +€29,441
up €29,441 (+64.1%), from €45,942 to €75,382
- Staff costs +€17,726
new in 2025: €17,726
- Taxes +€6,562
up €6,562 (+72.2%), from €9,091 to €15,653
- Depreciation +€1,845
up €1,845 (+456%), from €404 to €2,250
- Financial income +€1,533
up €1,533 (+18,602%), from €8 to €1,541
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 | €41,124 | €88,918 | +€47,794 | +116% |
| Fixed assets | 21/28 | €1,996 | €16,542 | +€14,546 | +729% |
| Tangible fixed assets | 22/27 | €1,996 | €16,542 | +€14,546 | +729% |
| Plant, machinery and equipment | 23 | - | €835 | +€835 | |
| Furniture and vehicles | 24 | €1,996 | €15,707 | +€13,711 | +687% |
| Current assets | 29/58 | €39,128 | €72,376 | +€33,248 | +85.0% |
| Amounts receivable after more than one year | 29 | - | €28,089 | +€28,089 | |
| Other amounts receivable | 291 | - | €28,089 | +€28,089 | |
| Amounts receivable within one year | 40/41 | €3,965 | €3,862 | -€103 | -2.6% |
| Trade receivables | 40 | €553 | €2,912 | +€2,359 | +426% |
| Other amounts receivable | 41 | €3,412 | €950 | -€2,462 | -72.2% |
| Cash at bank and in hand | 54/58 | €24,026 | €18,016 | -€6,010 | -25.0% |
| Deferred charges and accrued income | 490/1 | €11,137 | €22,410 | +€11,272 | +101% |
| Total equity and liabilities | 10/49 | €41,124 | €88,918 | +€47,794 | +116% |
| Equity | 10/15 | €35,052 | €73,593 | +€38,541 | +110% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Contributions outside capital | 11 | €100 | €100 | = | 0.0% |
| Share premium | 1100/10 | €100 | €100 | = | 0.0% |
| Reserves | 13 | - | €73,493 | +€73,493 | |
| Distributable reserves | 133 | - | €73,493 | +€73,493 | |
| Profit (loss) carried forward | 14 | €34,952 | - | -€34,952 | |
| Amounts payable | 17/49 | €6,072 | €15,325 | +€9,253 | +152% |
| Amounts payable within one year | 42/48 | €5,444 | €15,202 | +€9,758 | +179% |
| Trade debts | 44 | €1,434 | €1,000 | -€434 | -30.2% |
| Suppliers | 440/4 | €1,434 | €1,000 | -€434 | -30.2% |
| Taxes, remuneration and social security | 45 | €4,011 | €11,202 | +€7,192 | +179% |
| Taxes | 450/3 | €4,011 | €8,552 | +€4,542 | +113% |
| Remuneration and social security | 454/9 | - | €2,650 | +€2,650 | |
| Other amounts payable | 47/48 | - | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | €628 | €123 | -€505 | -80.5% |
| Remuneration, social security and pensions | 62 | - | €17,726 | +€17,726 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404 | €2,250 | +€1,845 | +456% |
| Other operating charges | 640/8 | €1,086 | €1,191 | +€104 | +9.6% |
| Non-recurring operating charges | 66A | - | €591 | +€591 | |
| Gross operating margin | 9900 | €45,942 | €75,382 | +€29,441 | +64.1% |
| Operating profit (loss) | 9901 | €44,451 | €53,625 | +€9,174 | +20.6% |
| Financial income | 75/76B | €8 | €1,541 | +€1,533 | +18,602% |
| Recurring financial income | 75 | €8 | €1,541 | +€1,533 | +18,602% |
| Financial charges | 65/66B | €417 | €72 | -€345 | -82.7% |
| Recurring financial charges | 65 | €417 | €72 | -€345 | -82.7% |
| Profit (loss) for the period before taxes | 9903 | €44,043 | €55,094 | +€11,051 | +25.1% |
| Income taxes | 67/77 | €9,091 | €15,653 | +€6,562 | +72.2% |
| Profit (loss) for the period | 9904 | €34,952 | €39,441 | +€4,489 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,952 | €39,441 | +€4,489 | +12.8% |
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 29 October 2026 via checked.be.