HTKM: 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.
HTKM
Largest movements
- Financial fixed assets -€275,000
down €275,000 (-99.8%), from €275,422 to €422
- Tangible fixed assets +€111,688
up €111,688 (+13.0%), from €861,029 to €972,716
of which Furniture and vehicles: +€82,768
- Receivables within one year +€81,563
up €81,563 (+1356.2%), from €6,014 to €87,577
of which Trade receivables: +€80,707
- Cash -€29,931
down €29,931 (-66.3%), from €45,177 to €15,246
mainly Other debts (-€168,898) and Receivables within one year (-€81,563)
- Deferred charges and accrued income +€16,557
new in 2025: €16,557
- Other debts -€168,898
down €168,898 (-45.9%), from €367,857 to €198,959
- Trade debts +€67,428
up €67,428 (+10356.9%), from €651 to €68,079
- Debts after one year -€43,605
down €43,605 (-13.5%), from €323,848 to €280,242
- Reserves +€38,084
up €38,084 (+8.3%), from €459,033 to €497,117
of which Distributable reserves: +€39,944
- Tax, wage and social debts +€14,811
up €14,811 (+423.2%), from €3,500 to €18,311
of which Taxes: +€11,874
- Depreciation -€19,146
down €19,146 (-22.8%), from €83,944 to €64,798
- Staff costs +€5,840
up €5,840 (+10.8%), from €53,887 to €59,727
- Taxes +€4,334
new in 2025: €4,334
- Gross operating margin -€3,003
down €3,003 (-1.6%), from €191,975 to €188,972
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 | €1,203,004 | €1,112,514 | -€90,490 | -7.5% |
| Fixed assets | 21/28 | €1,136,451 | €973,138 | -€163,312 | -14.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €861,029 | €972,716 | +€111,688 | +13.0% |
| Land and buildings | 22 | €818,852 | €837,647 | +€18,795 | +2.3% |
| Plant, machinery and equipment | 23 | €42,177 | €52,301 | +€10,124 | +24.0% |
| Furniture and vehicles | 24 | - | €82,768 | +€82,768 | |
| Financial fixed assets | 28 | €275,422 | €422 | -€275,000 | -99.8% |
| Current assets | 29/58 | €66,553 | €139,376 | +€72,823 | +109.4% |
| Stocks and contracts in progress | 3 | €15,362 | €19,996 | +€4,634 | +30.2% |
| Stocks | 30/36 | €15,362 | €19,996 | +€4,634 | +30.2% |
| Amounts receivable within one year | 40/41 | €6,014 | €87,577 | +€81,563 | +1356.2% |
| Trade receivables | 40 | €5,861 | €86,569 | +€80,707 | +1376.9% |
| Other amounts receivable | 41 | €152 | €1,008 | +€856 | +561.2% |
| Cash at bank and in hand | 54/58 | €45,177 | €15,246 | -€29,931 | -66.3% |
| Deferred charges and accrued income | 490/1 | - | €16,557 | +€16,557 | |
| Total equity and liabilities | 10/49 | €1,203,004 | €1,112,514 | -€90,490 | -7.5% |
| Equity | 10/15 | €465,233 | €503,317 | +€38,084 | +8.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €459,033 | €497,117 | +€38,084 | +8.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €457,173 | €497,117 | +€39,944 | +8.7% |
| Amounts payable | 17/49 | €737,771 | €609,197 | -€128,574 | -17.4% |
| Amounts payable after more than one year | 17 | €323,848 | €280,242 | -€43,605 | -13.5% |
| Financial debts | 170/4 | €323,848 | €280,242 | -€43,605 | -13.5% |
| Amounts payable within one year | 42/48 | €413,923 | €328,955 | -€84,969 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €41,915 | €43,605 | +€1,690 | +4.0% |
| Trade debts | 44 | €651 | €68,079 | +€67,428 | +10356.9% |
| Suppliers | 440/4 | €651 | €68,079 | +€67,428 | +10356.9% |
| Taxes, remuneration and social security | 45 | €3,500 | €18,311 | +€14,811 | +423.2% |
| Taxes | 450/3 | - | €11,874 | +€11,874 | |
| Remuneration and social security | 454/9 | €3,500 | €6,437 | +€2,937 | +83.9% |
| Other amounts payable | 47/48 | €367,857 | €198,959 | -€168,898 | -45.9% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €53,887 | €59,727 | +€5,840 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,944 | €64,798 | -€19,146 | -22.8% |
| Other operating charges | 640/8 | €8,126 | €8,190 | +€63 | +0.8% |
| Gross operating margin | 9900 | €191,975 | €188,972 | -€3,003 | -1.6% |
| Operating profit (loss) | 9901 | €46,018 | €56,258 | +€10,240 | +22.3% |
| Financial income | 75/76B | €69 | €1,053 | +€984 | +1435.5% |
| Recurring financial income | 75 | €69 | €1,053 | +€984 | +1435.5% |
| Financial charges | 65/66B | €13,919 | €14,893 | +€974 | +7.0% |
| Recurring financial charges | 65 | €13,919 | €14,893 | +€974 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €32,167 | €42,418 | +€10,251 | +31.9% |
| Income taxes | 67/77 | - | €4,334 | +€4,334 | |
| Profit (loss) for the period | 9904 | €32,167 | €38,084 | +€5,917 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,167 | €38,084 | +€5,917 | +18.4% |
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.