HZP ART: 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.
HZP ART
Largest movements
- Receivables within one year +€36,480
up €36,480 (+923%), from €3,951 to €40,432
of which Trade receivables: +€22,678
- Cash -€26,928
down €26,928 (-37.6%), from €71,535 to €44,607
mainly Receivables within one year (-€36,480) and Trade debts (-€4,403)
- Profit (loss) carried forward +€18,142
up €18,142 (+115%), from €15,729 to €33,871
- Trade debts -€4,403
down €4,403 (-9.2%), from €47,764 to €43,361
- Other debts -€2,788
no longer reported in 2025 (was €2,788)
- Tax, wage and social debts -€1,216
down €1,216 (-10.6%), from €11,493 to €10,277
of which Taxes: -€616
- Gross operating margin +€2,997
up €2,997 (+14.2%), from €21,100 to €24,097
- Depreciation +€1,312
up €1,312 (+1,133%), from €116 to €1,428
- Taxes -€616
down €616 (-11.7%), from €5,243 to €4,627
- Financial income +€292
new in 2025: €292
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 | €78,774 | €88,509 | +€9,735 | +12.4% |
| Fixed assets | 21/28 | €3,288 | €3,471 | +€182 | +5.5% |
| Tangible fixed assets | 22/27 | €3,288 | €3,471 | +€182 | +5.5% |
| Plant, machinery and equipment | 23 | €3,288 | €3,471 | +€182 | +5.5% |
| Current assets | 29/58 | €75,486 | €85,038 | +€9,553 | +12.7% |
| Amounts receivable within one year | 40/41 | €3,951 | €40,432 | +€36,480 | +923% |
| Trade receivables | 40 | €1,141 | €23,819 | +€22,678 | +1,988% |
| Other amounts receivable | 41 | €2,811 | €16,613 | +€13,802 | +491% |
| Cash at bank and in hand | 54/58 | €71,535 | €44,607 | -€26,928 | -37.6% |
| Total equity and liabilities | 10/49 | €78,774 | €88,509 | +€9,735 | +12.4% |
| Equity | 10/15 | €16,729 | €34,871 | +€18,142 | +108% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,729 | €33,871 | +€18,142 | +115% |
| Amounts payable | 17/49 | €62,045 | €53,638 | -€8,407 | -13.5% |
| Amounts payable within one year | 42/48 | €62,045 | €53,638 | -€8,407 | -13.5% |
| Trade debts | 44 | €47,764 | €43,361 | -€4,403 | -9.2% |
| Suppliers | 440/4 | €47,764 | €43,361 | -€4,403 | -9.2% |
| Taxes, remuneration and social security | 45 | €11,493 | €10,277 | -€1,216 | -10.6% |
| Taxes | 450/3 | €5,243 | €4,627 | -€616 | -11.7% |
| Remuneration and social security | 454/9 | €6,250 | €5,650 | -€600 | -9.6% |
| Other amounts payable | 47/48 | €2,788 | - | -€2,788 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116 | €1,428 | +€1,312 | +1,133% |
| Other operating charges | 640/8 | - | €118 | +€118 | |
| Gross operating margin | 9900 | €21,100 | €24,097 | +€2,997 | +14.2% |
| Operating profit (loss) | 9901 | €20,984 | €22,551 | +€1,567 | +7.5% |
| Financial income | 75/76B | - | €292 | +€292 | |
| Recurring financial income | 75 | - | €292 | +€292 | |
| Financial charges | 65/66B | €12 | €74 | +€61 | +501% |
| Recurring financial charges | 65 | €12 | €74 | +€61 | +501% |
| Profit (loss) for the period before taxes | 9903 | €20,972 | €22,769 | +€1,797 | +8.6% |
| Income taxes | 67/77 | €5,243 | €4,627 | -€616 | -11.7% |
| Profit (loss) for the period | 9904 | €15,729 | €18,142 | +€2,413 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,729 | €18,142 | +€2,413 | +15.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.