HUMAN LINKS: 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.
HUMAN LINKS
Largest movements
- Receivables within one year +€83,062
up €83,062 (+59.5%), from €139,594 to €222,655
of which Trade receivables: +€58,384
- Cash -€74,373
down €74,373 (-83.8%), from €88,714 to €14,341
mainly Receivables within one year (-€83,062) and Tax, wage and social debts (-€13,870)
- Tangible fixed assets -€14,948
down €14,948 (-75.4%), from €19,835 to €4,887
of which Furniture and vehicles: -€10,136
- Reserves +€26,000
up €26,000 (+21.7%), from €119,995 to €145,995
- Tax, wage and social debts -€13,870
down €13,870 (-69.9%), from €19,847 to €5,976
- Other debts -€12,406
down €12,406 (-9.7%), from €127,791 to €115,386
- Current portion of long-term debt -€7,888
down €7,888 (-100.0%), from €7,888 to €0
- Depreciation -€3,278
down €3,278 (-18.0%), from €18,226 to €14,948
- Taxes +€2,173
up €2,173 (+23.3%), from €9,331 to €11,504
- Gross operating margin +€2,112
up €2,112 (+1.8%), from €115,656 to €117,768
- Financial charges -€1,558
down €1,558 (-2.3%), from €67,515 to €65,957
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 | €302,931 | €295,900 | -€7,031 | -2.3% |
| Fixed assets | 21/28 | €20,800 | €5,853 | -€14,948 | -71.9% |
| Tangible fixed assets | 22/27 | €19,835 | €4,887 | -€14,948 | -75.4% |
| Plant, machinery and equipment | 23 | €7,201 | €2,389 | -€4,812 | -66.8% |
| Furniture and vehicles | 24 | €12,634 | €2,498 | -€10,136 | -80.2% |
| Financial fixed assets | 28 | €965 | €965 | = | 0.0% |
| Current assets | 29/58 | €282,131 | €290,047 | +€7,916 | +2.8% |
| Amounts receivable within one year | 40/41 | €139,594 | €222,655 | +€83,062 | +59.5% |
| Trade receivables | 40 | €112,839 | €171,223 | +€58,384 | +51.7% |
| Other amounts receivable | 41 | €26,755 | €51,432 | +€24,678 | +92.2% |
| Current investments | 50/53 | €50,544 | €51,919 | +€1,374 | +2.7% |
| Cash at bank and in hand | 54/58 | €88,714 | €14,341 | -€74,373 | -83.8% |
| Deferred charges and accrued income | 490/1 | €3,278 | €1,132 | -€2,146 | -65.5% |
| Total equity and liabilities | 10/49 | €302,931 | €295,900 | -€7,031 | -2.3% |
| Equity | 10/15 | €127,114 | €152,617 | +€25,502 | +20.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,995 | €145,995 | +€26,000 | +21.7% |
| Distributable reserves | 133 | €119,995 | €145,995 | +€26,000 | +21.7% |
| Profit (loss) carried forward | 14 | €919 | €421 | -€498 | -54.2% |
| Amounts payable | 17/49 | €175,817 | €143,283 | -€32,534 | -18.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €175,817 | €143,283 | -€32,534 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €7,888 | €0 | -€7,888 | -100.0% |
| Trade debts | 44 | €20,290 | €21,921 | +€1,630 | +8.0% |
| Suppliers | 440/4 | €20,290 | €21,921 | +€1,630 | +8.0% |
| Taxes, remuneration and social security | 45 | €19,847 | €5,976 | -€13,870 | -69.9% |
| Taxes | 450/3 | €19,847 | €5,976 | -€13,870 | -69.9% |
| Other amounts payable | 47/48 | €127,791 | €115,386 | -€12,406 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,226 | €14,948 | -€3,278 | -18.0% |
| Other operating charges | 640/8 | €1,389 | €1,258 | -€132 | -9.5% |
| Gross operating margin | 9900 | €115,656 | €117,768 | +€2,112 | +1.8% |
| Operating profit (loss) | 9901 | €96,041 | €101,563 | +€5,522 | +5.7% |
| Financial income | 75/76B | €410 | €1,400 | +€990 | +241.5% |
| Recurring financial income | 75 | €410 | €1,400 | +€990 | +241.5% |
| Financial charges | 65/66B | €67,515 | €65,957 | -€1,558 | -2.3% |
| Recurring financial charges | 65 | €67,515 | €65,957 | -€1,558 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €28,936 | €37,006 | +€8,070 | +27.9% |
| Income taxes | 67/77 | €9,331 | €11,504 | +€2,173 | +23.3% |
| Profit (loss) for the period | 9904 | €19,605 | €25,502 | +€5,897 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,605 | €25,502 | +€5,897 | +30.1% |
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 30 September 2026 via checked.be.