HUMAN CAPITAL PARTNER: 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.
HUMAN CAPITAL PARTNER
Largest movements
- Cash -€33,625
down €33,625 (-27.4%), from €122,689 to €89,064
mainly Tax, wage and social debts (-€23,675) and Current investments (-€19,947)
- Current investments +€19,947
new in 2025: €19,947
- Tangible fixed assets -€7,987
down €7,987 (-26.7%), from €29,897 to €21,910
of which Furniture and vehicles: -€4,379
- Receivables within one year +€4,648
up €4,648 (+34.1%), from €13,648 to €18,295
of which Other amounts receivable: +€8,557
- Tax, wage and social debts -€23,675
down €23,675 (-61.3%), from €38,649 to €14,974
- Profit (loss) carried forward +€9,485
up €9,485 (+8.3%), from €114,357 to €123,842
- Other debts -€1,702
no longer reported in 2025 (was €1,702)
- Gross operating margin -€23,026
down €23,026 (-52.7%), from €43,704 to €20,679
- Taxes -€5,907
down €5,907 (-63.1%), from €9,363 to €3,456
- Depreciation -€971
down €971 (-10.8%), from €8,958 to €7,987
- Financial charges -€787
down €787 (-69.9%), from €1,127 to €340
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 | €166,233 | €149,741 | -€16,492 | -9.9% |
| Fixed assets | 21/28 | €29,897 | €21,910 | -€7,987 | -26.7% |
| Tangible fixed assets | 22/27 | €29,897 | €21,910 | -€7,987 | -26.7% |
| Land and buildings | 22 | €23,408 | €20,408 | -€3,000 | -12.8% |
| Plant, machinery and equipment | 23 | €1,000 | €392 | -€608 | -60.8% |
| Furniture and vehicles | 24 | €5,489 | €1,110 | -€4,379 | -79.8% |
| Current assets | 29/58 | €136,336 | €127,831 | -€8,505 | -6.2% |
| Amounts receivable within one year | 40/41 | €13,648 | €18,295 | +€4,648 | +34.1% |
| Trade receivables | 40 | €13,348 | €9,438 | -€3,910 | -29.3% |
| Other amounts receivable | 41 | €300 | €8,857 | +€8,557 | +2,852% |
| Current investments | 50/53 | - | €19,947 | +€19,947 | |
| Cash at bank and in hand | 54/58 | €122,689 | €89,064 | -€33,625 | -27.4% |
| Deferred charges and accrued income | 490/1 | - | €524 | +€524 | |
| Total equity and liabilities | 10/49 | €166,233 | €149,741 | -€16,492 | -9.9% |
| Equity | 10/15 | €124,357 | €133,842 | +€9,485 | +7.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,357 | €123,842 | +€9,485 | +8.3% |
| Amounts payable | 17/49 | €41,876 | €15,898 | -€25,978 | -62.0% |
| Amounts payable within one year | 42/48 | €41,876 | €15,898 | -€25,978 | -62.0% |
| Trade debts | 44 | €1,525 | €925 | -€600 | -39.3% |
| Suppliers | 440/4 | €1,525 | €925 | -€600 | -39.3% |
| Taxes, remuneration and social security | 45 | €38,649 | €14,974 | -€23,675 | -61.3% |
| Taxes | 450/3 | €38,649 | €14,974 | -€23,675 | -61.3% |
| Other amounts payable | 47/48 | €1,702 | - | -€1,702 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,958 | €7,987 | -€971 | -10.8% |
| Other operating charges | 640/8 | €149 | €152 | +€3 | +2.0% |
| Gross operating margin | 9900 | €43,704 | €20,679 | -€23,026 | -52.7% |
| Operating profit (loss) | 9901 | €34,598 | €12,540 | -€22,057 | -63.8% |
| Financial income | 75/76B | €682 | €740 | +€59 | +8.6% |
| Recurring financial income | 75 | €682 | €740 | +€59 | +8.6% |
| Financial charges | 65/66B | €1,127 | €340 | -€787 | -69.9% |
| Recurring financial charges | 65 | €1,127 | €340 | -€787 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €34,153 | €12,941 | -€21,212 | -62.1% |
| Income taxes | 67/77 | €9,363 | €3,456 | -€5,907 | -63.1% |
| Profit (loss) for the period | 9904 | €24,790 | €9,485 | -€15,305 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,790 | €9,485 | -€15,305 | -61.7% |
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 18 October 2026 via checked.be.