TECHNICAL HR EXPERTS: 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.
TECHNICAL HR EXPERTS
Largest movements
- Receivables within one year -€97,859
down €97,859 (-13.2%), from €740,507 to €642,648
of which Trade receivables: -€71,149
- Deferred charges and accrued income +€67,395
up €67,395 (+365%), from €18,455 to €85,851
- Reserves +€82,000
up €82,000 (+12.8%), from €639,208 to €721,208
- Tax, wage and social debts -€56,209
down €56,209 (-36.9%), from €152,195 to €95,986
of which Taxes: -€35,308
- Other debts -€52,500
down €52,500 (-40.1%), from €131,000 to €78,500
- Trade debts -€51,206
down €51,206 (-29.3%), from €174,481 to €123,275
- Debts after one year +€44,738
up €44,738 (+8.3%), from €536,749 to €581,487
- Gross operating margin -€117,283
down €117,283 (-12.9%), from €907,116 to €789,833
- Staff costs -€33,506
down €33,506 (-6.2%), from €540,486 to €506,980
- Depreciation +€25,575
up €25,575 (+56.4%), from €45,347 to €70,922
- Taxes -€20,115
down €20,115 (-28.0%), from €71,787 to €51,673
- Financial income +€14,917
up €14,917 (+159%), from €9,356 to €24,273
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 | €1,928,487 | €1,886,992 | -€41,496 | -2.2% |
| Fixed assets | 21/28 | €556,058 | €548,310 | -€7,748 | -1.4% |
| Tangible fixed assets | 22/27 | €552,083 | €544,335 | -€7,748 | -1.4% |
| Land and buildings | 22 | €491,481 | €444,299 | -€47,183 | -9.6% |
| Plant, machinery and equipment | 23 | €603 | €7,219 | +€6,616 | +1,098% |
| Furniture and vehicles | 24 | €9,470 | €23,223 | +€13,753 | +145% |
| Other tangible fixed assets | 26 | €50,529 | €69,594 | +€19,066 | +37.7% |
| Financial fixed assets | 28 | €3,975 | €3,975 | = | 0.0% |
| Current assets | 29/58 | €1,372,429 | €1,338,681 | -€33,748 | -2.5% |
| Amounts receivable after more than one year | 29 | €350,000 | €350,000 | = | 0.0% |
| Trade receivables | 290 | €350,000 | €350,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €740,507 | €642,648 | -€97,859 | -13.2% |
| Trade receivables | 40 | €287,587 | €216,438 | -€71,149 | -24.7% |
| Other amounts receivable | 41 | €452,920 | €426,210 | -€26,709 | -5.9% |
| Current investments | 50/53 | €3,600 | €4,901 | +€1,301 | +36.1% |
| Cash at bank and in hand | 54/58 | €259,867 | €255,281 | -€4,586 | -1.8% |
| Deferred charges and accrued income | 490/1 | €18,455 | €85,851 | +€67,395 | +365% |
| Total equity and liabilities | 10/49 | €1,928,487 | €1,886,992 | -€41,496 | -2.2% |
| Equity | 10/15 | €831,832 | €891,041 | +€59,209 | +7.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €639,208 | €721,208 | +€82,000 | +12.8% |
| Distributable reserves | 133 | €639,208 | €721,208 | +€82,000 | +12.8% |
| Profit (loss) carried forward | 14 | €180,224 | €157,433 | -€22,791 | -12.6% |
| Amounts payable | 17/49 | €1,096,656 | €995,951 | -€100,705 | -9.2% |
| Amounts payable after more than one year | 17 | €536,749 | €581,487 | +€44,738 | +8.3% |
| Financial debts | 170/4 | €536,749 | €581,487 | +€44,738 | +8.3% |
| Amounts payable within one year | 42/48 | €555,781 | €406,323 | -€149,458 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €47,965 | €75,164 | +€27,199 | +56.7% |
| Financial debts | 43 | €50,140 | €33,398 | -€16,742 | -33.4% |
| Credit institutions | 430/8 | €50,140 | €33,398 | -€16,742 | -33.4% |
| Trade debts | 44 | €174,481 | €123,275 | -€51,206 | -29.3% |
| Suppliers | 440/4 | €174,481 | €123,275 | -€51,206 | -29.3% |
| Taxes, remuneration and social security | 45 | €152,195 | €95,986 | -€56,209 | -36.9% |
| Taxes | 450/3 | €88,033 | €52,726 | -€35,308 | -40.1% |
| Remuneration and social security | 454/9 | €64,162 | €43,260 | -€20,901 | -32.6% |
| Other amounts payable | 47/48 | €131,000 | €78,500 | -€52,500 | -40.1% |
| Accrued charges and deferred income | 492/3 | €4,125 | €8,140 | +€4,015 | +97.3% |
| Remuneration, social security and pensions | 62 | €540,486 | €506,980 | -€33,506 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,347 | €70,922 | +€25,575 | +56.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,605 | -€9,354 | +€251 | +2.6% |
| Other operating charges | 640/8 | €30,466 | €30,081 | -€384 | -1.3% |
| Gross operating margin | 9900 | €907,116 | €789,833 | -€117,283 | -12.9% |
| Operating profit (loss) | 9901 | €300,423 | €191,205 | -€109,218 | -36.4% |
| Financial income | 75/76B | €9,356 | €24,273 | +€14,917 | +159% |
| Recurring financial income | 75 | €9,356 | €24,273 | +€14,917 | +159% |
| Financial charges | 65/66B | €28,768 | €26,096 | -€2,672 | -9.3% |
| Recurring financial charges | 65 | €28,768 | €26,096 | -€2,672 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €281,011 | €189,382 | -€91,629 | -32.6% |
| Income taxes | 67/77 | €71,787 | €51,673 | -€20,115 | -28.0% |
| Profit (loss) for the period | 9904 | €209,224 | €137,709 | -€71,515 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €209,224 | €137,709 | -€71,515 | -34.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.