HYDROFORM: 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.
HYDROFORM
Largest movements
- Tangible fixed assets +€991,359
up €991,359 (+280.9%), from €352,961 to €1.3m
of which Assets under construction and advance payments: +€988,382
- Cash -€43,787
down €43,787 (-66.7%), from €65,686 to €21,900
mainly Investment in fixed assets (net) (-€998,768) and Other debts (-€387,846)
- Debts after one year +€1.1m
new in 2025: €1.1m
- Other debts -€387,846
down €387,846 (-91.3%), from €424,764 to €36,918
- Trade debts +€273,928
up €273,928, from €0 to €273,928
- Profit (loss) carried forward -€51,014
down €51,014 (-307.7%), from -€16,580 to -€67,595
- Financial charges +€41,674
up €41,674 (+34319.7%), from €121 to €41,796
- Depreciation +€2,032
up €2,032 (+237.0%), from €857 to €2,889
- Gross operating margin +€873
up €873 (+12.8%), from -€6,803 to -€5,930
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 | €428,183 | €1,374,474 | +€946,291 | +221.0% |
| Fixed assets | 21/28 | €352,961 | €1,348,840 | +€995,879 | +282.1% |
| Intangible fixed assets | 21 | - | €4,521 | +€4,521 | |
| Tangible fixed assets | 22/27 | €352,961 | €1,344,320 | +€991,359 | +280.9% |
| Land and buildings | 22 | €52,800 | €52,800 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,188 | €5,165 | +€2,976 | +136.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Assets under construction and advance payments | 27 | €297,973 | €1,286,355 | +€988,382 | +331.7% |
| Current assets | 29/58 | €75,222 | €25,634 | -€49,588 | -65.9% |
| Amounts receivable within one year | 40/41 | €3,903 | €149 | -€3,753 | -96.2% |
| Trade receivables | 40 | €340 | - | -€340 | |
| Other amounts receivable | 41 | €3,562 | €149 | -€3,413 | -95.8% |
| Cash at bank and in hand | 54/58 | €65,686 | €21,900 | -€43,787 | -66.7% |
| Deferred charges and accrued income | 490/1 | €5,633 | €3,585 | -€2,048 | -36.4% |
| Total equity and liabilities | 10/49 | €428,183 | €1,374,474 | +€946,291 | +221.0% |
| Equity | 10/15 | €3,420 | -€47,595 | -€51,014 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,580 | -€67,595 | -€51,014 | -307.7% |
| Amounts payable | 17/49 | €424,764 | €1,422,069 | +€997,305 | +234.8% |
| Amounts payable after more than one year | 17 | - | €1,111,223 | +€1.1m | |
| Financial debts | 170/4 | - | €1,111,223 | +€1.1m | |
| Amounts payable within one year | 42/48 | €424,764 | €310,846 | -€113,918 | -26.8% |
| Trade debts | 44 | €0 | €273,928 | +€273,928 | |
| Suppliers | 440/4 | €0 | €273,928 | +€273,928 | |
| Other amounts payable | 47/48 | €424,764 | €36,918 | -€387,846 | -91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €857 | €2,889 | +€2,032 | +237.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€6,803 | -€5,930 | +€873 | +12.8% |
| Operating profit (loss) | 9901 | -€8,047 | -€9,218 | -€1,171 | -14.6% |
| Financial charges | 65/66B | €121 | €41,796 | +€41,674 | +34319.7% |
| Recurring financial charges | 65 | €121 | €41,796 | +€41,674 | +34319.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,169 | -€51,014 | -€42,846 | -524.5% |
| Profit (loss) for the period | 9904 | -€8,169 | -€51,014 | -€42,846 | -524.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,169 | -€51,014 | -€42,846 | -524.5% |
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 29 September 2026 via checked.be.