HRMES: 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.
HRMES
Largest movements
- Financial fixed assets -€2.0m
down €2.0m (-93.8%), from €2.1m to €129,932
- Profit (loss) carried forward -€2.0m
down €2.0m (-347.5%), from -€565,548 to -€2.5m
- Current portion of long-term debt -€28,514
down €28,514 (-100.0%), from €28,514 to €0
- Other debts +€23,000
up €23,000 (+29.3%), from €78,500 to €101,500
- Financial charges +€1.8m
up €1.8m (+1362.1%), from €135,203 to €2.0m
of which Non-recurring financial charges: +€2.0m
- Financial income -€429,000
down €429,000 (-100.0%), from €429,000 to €0
- Gross operating margin -€88,078
down €88,078 (-86.9%), from €101,359 to €13,281
- Other operating charges -€33,570
down €33,570 (-95.7%), from €35,094 to €1,524
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 | €2,106,380 | €133,659 | -€2.0m | -93.7% |
| Fixed assets | 21/28 | €2,104,931 | €129,932 | -€2.0m | -93.8% |
| Financial fixed assets | 28 | €2,104,931 | €129,932 | -€2.0m | -93.8% |
| Current assets | 29/58 | €1,450 | €3,727 | +€2,277 | +157.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €87 | €1,740 | +€1,653 | +1892.7% |
| Trade receivables | 40 | - | €1,739 | +€1,739 | |
| Other amounts receivable | 41 | €87 | €1 | -€86 | -98.9% |
| Cash at bank and in hand | 54/58 | €1,362 | €1,987 | +€625 | +45.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,106,380 | €133,659 | -€2.0m | -93.7% |
| Equity | 10/15 | -€261,819 | -€2,226,883 | -€2.0m | -750.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €285,128 | €285,128 | = | 0.0% |
| Distributable reserves | 133 | €285,128 | €285,128 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€565,548 | -€2,530,611 | -€2.0m | -347.5% |
| Amounts payable | 17/49 | €2,368,200 | €2,360,542 | -€7,658 | -0.3% |
| Amounts payable after more than one year | 17 | €2,257,672 | €2,257,672 | = | 0.0% |
| Financial debts | 170/4 | €2,118,392 | €275,000 | -€1.8m | -87.0% |
| Other amounts payable | 178/9 | €139,280 | €1,982,672 | +€1.8m | +1323.5% |
| Amounts payable within one year | 42/48 | €110,528 | €102,870 | -€7,658 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €28,514 | €0 | -€28,514 | -100.0% |
| Trade debts | 44 | €3,514 | €1,166 | -€2,348 | -66.8% |
| Suppliers | 440/4 | €3,514 | €1,166 | -€2,348 | -66.8% |
| Taxes, remuneration and social security | 45 | - | €204 | +€204 | |
| Taxes | 450/3 | - | €204 | +€204 | |
| Other amounts payable | 47/48 | €78,500 | €101,500 | +€23,000 | +29.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €6,001 | €0 | -€6,001 | -100.0% |
| Remuneration, social security and pensions | 62 | -€319 | €0 | +€319 | |
| Other operating charges | 640/8 | €35,094 | €1,524 | -€33,570 | -95.7% |
| Non-recurring operating charges | 66A | €204,340 | €0 | -€204,340 | -100.0% |
| Gross operating margin | 9900 | €101,359 | €13,281 | -€88,078 | -86.9% |
| Operating profit (loss) | 9901 | -€137,756 | €11,757 | +€149,513 | |
| Financial income | 75/76B | €429,000 | €0 | -€429,000 | -100.0% |
| Recurring financial income | 75 | €429,000 | €0 | -€429,000 | -100.0% |
| Financial charges | 65/66B | €135,203 | €1,976,821 | +€1.8m | +1362.1% |
| Recurring financial charges | 65 | €132,653 | €822 | -€131,832 | -99.4% |
| Non-recurring financial charges | 66B | €2,550 | €1,975,999 | +€2.0m | +77390.2% |
| Profit (loss) for the period before taxes | 9903 | €156,041 | -€1,965,064 | -€2.1m | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €156,041 | -€1,965,064 | -€2.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €156,041 | -€1,965,064 | -€2.1m |
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 11 October 2026 via checked.be.