HYDRO JM: 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.
HYDRO JM
Largest movements
- Tangible fixed assets +€162,671
up €162,671 (+15.7%), from €1.0m to €1.2m
of which Plant, machinery and equipment: +€82,180
- Receivables within one year +€75,607
up €75,607 (+66.9%), from €112,946 to €188,553
of which Other amounts receivable: +€56,085
- Other debts +€162,000
new in 2025: €162,000
- Debts after one year +€28,353
up €28,353 (+2.8%), from €999,447 to €1.0m
- Reserves +€17,181
new in 2025: €17,181
- Current portion of long-term debt +€14,073
up €14,073 (+27.5%), from €51,168 to €65,240
- Gross operating margin +€24,014
up €24,014 (+23.1%), from €104,004 to €128,019
- Depreciation +€9,483
up €9,483 (+17.5%), from €54,164 to €63,647
- Taxes +€4,474
new in 2025: €4,474
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 | €1,167,489 | €1,406,807 | +€239,318 | +20.5% |
| Fixed assets | 21/28 | €1,041,681 | €1,204,352 | +€162,671 | +15.6% |
| Tangible fixed assets | 22/27 | €1,036,681 | €1,199,352 | +€162,671 | +15.7% |
| Land and buildings | 22 | €846,614 | €927,105 | +€80,490 | +9.5% |
| Plant, machinery and equipment | 23 | €190,067 | €272,247 | +€82,180 | +43.2% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €125,808 | €202,456 | +€76,647 | +60.9% |
| Amounts receivable within one year | 40/41 | €112,946 | €188,553 | +€75,607 | +66.9% |
| Trade receivables | 40 | €61,433 | €80,955 | +€19,522 | +31.8% |
| Other amounts receivable | 41 | €51,513 | €107,598 | +€56,085 | +109% |
| Cash at bank and in hand | 54/58 | €10,882 | €12,082 | +€1,200 | +11.0% |
| Deferred charges and accrued income | 490/1 | €1,981 | €1,821 | -€160 | -8.1% |
| Total equity and liabilities | 10/49 | €1,167,489 | €1,406,807 | +€239,318 | +20.5% |
| Equity | 10/15 | €67,348 | €85,731 | +€18,383 | +27.3% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | - | €17,181 | +€17,181 | |
| Distributable reserves | 133 | - | €17,181 | +€17,181 | |
| Profit (loss) carried forward | 14 | -€1,202 | - | +€1,202 | |
| Amounts payable | 17/49 | €1,100,141 | €1,321,076 | +€220,935 | +20.1% |
| Amounts payable after more than one year | 17 | €999,447 | €1,027,800 | +€28,353 | +2.8% |
| Financial debts | 170/4 | €999,447 | €1,027,800 | +€28,353 | +2.8% |
| Amounts payable within one year | 42/48 | €100,694 | €293,276 | +€192,582 | +191% |
| Current portion of amounts payable after more than one year | 42 | €51,168 | €65,240 | +€14,073 | +27.5% |
| Trade debts | 44 | €42,141 | €48,300 | +€6,159 | +14.6% |
| Suppliers | 440/4 | €42,141 | €48,300 | +€6,159 | +14.6% |
| Advances received on contracts in progress | 46 | - | €13,261 | +€13,261 | |
| Taxes, remuneration and social security | 45 | €7,385 | €4,474 | -€2,911 | -39.4% |
| Taxes | 450/3 | €7,385 | €4,474 | -€2,911 | -39.4% |
| Other amounts payable | 47/48 | - | €162,000 | +€162,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,164 | €63,647 | +€9,483 | +17.5% |
| Other operating charges | 640/8 | €3,777 | €4,722 | +€945 | +25.0% |
| Gross operating margin | 9900 | €104,004 | €128,019 | +€24,014 | +23.1% |
| Operating profit (loss) | 9901 | €46,064 | €59,650 | +€13,586 | +29.5% |
| Financial income | 75/76B | €244 | €3 | -€241 | -98.7% |
| Recurring financial income | 75 | €244 | €3 | -€241 | -98.7% |
| Financial charges | 65/66B | €36,068 | €36,796 | +€728 | +2.0% |
| Recurring financial charges | 65 | €36,068 | €36,796 | +€728 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €10,240 | €22,857 | +€12,617 | +123% |
| Income taxes | 67/77 | - | €4,474 | +€4,474 | |
| Profit (loss) for the period | 9904 | €10,240 | €18,383 | +€8,143 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,240 | €18,383 | +€8,143 | +79.5% |
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 17 October 2026 via checked.be.