H.B.C. MANAGEMENT: 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.
H.B.C. MANAGEMENT
Largest movements
- Stocks and contracts -€19,662
down €19,662 (-18.9%), from €104,300 to €84,638
- Tangible fixed assets -€13,191
down €13,191 (-4.7%), from €281,844 to €268,653
of which Land and buildings: -€13,191
- Cash +€11,507
up €11,507 (+46.3%), from €24,860 to €36,367
mainly Trade debts (+€32,361) and Stocks and contracts (+€19,662)
- Receivables within one year +€11,328
up €11,328 (+30.1%), from €37,675 to €49,003
of which Trade receivables: +€23,971
- Other debts -€51,362
down €51,362 (-41.4%), from €123,948 to €72,587
- Trade debts +€32,361
up €32,361 (+296%), from €10,918 to €43,279
- Profit (loss) carried forward +€8,877
up €8,877 (+2.0%), from -€439,673 to -€430,795
- Gross operating margin +€30,283
up €30,283, from -€2,391 to €27,891
- Other operating charges -€1,571
down €1,571 (-25.8%), from €6,079 to €4,508
- Depreciation -€665
down €665 (-4.8%), from €13,856 to €13,191
- Financial income -€594
no longer reported in 2025 (was €594)
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 | €449,293 | €439,170 | -€10,123 | -2.3% |
| Fixed assets | 21/28 | €281,844 | €268,653 | -€13,191 | -4.7% |
| Tangible fixed assets | 22/27 | €281,844 | €268,653 | -€13,191 | -4.7% |
| Land and buildings | 22 | €281,844 | €268,653 | -€13,191 | -4.7% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €167,449 | €170,517 | +€3,068 | +1.8% |
| Stocks and contracts in progress | 3 | €104,300 | €84,638 | -€19,662 | -18.9% |
| Stocks | 30/36 | €104,300 | €84,638 | -€19,662 | -18.9% |
| Amounts receivable within one year | 40/41 | €37,675 | €49,003 | +€11,328 | +30.1% |
| Trade receivables | 40 | €22,997 | €46,967 | +€23,971 | +104% |
| Other amounts receivable | 41 | €14,679 | €2,036 | -€12,643 | -86.1% |
| Cash at bank and in hand | 54/58 | €24,860 | €36,367 | +€11,507 | +46.3% |
| Deferred charges and accrued income | 490/1 | €614 | €510 | -€104 | -17.0% |
| Total equity and liabilities | 10/49 | €449,293 | €439,170 | -€10,123 | -2.3% |
| Equity | 10/15 | €310,327 | €319,205 | +€8,877 | +2.9% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€439,673 | -€430,795 | +€8,877 | +2.0% |
| Amounts payable | 17/49 | €138,966 | €119,965 | -€19,001 | -13.7% |
| Amounts payable after more than one year | 17 | €4,100 | €4,100 | = | 0.0% |
| Other amounts payable | 178/9 | €4,100 | €4,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €134,866 | €115,865 | -€19,001 | -14.1% |
| Trade debts | 44 | €10,918 | €43,279 | +€32,361 | +296% |
| Suppliers | 440/4 | €10,918 | €43,279 | +€32,361 | +296% |
| Other amounts payable | 47/48 | €123,948 | €72,587 | -€51,362 | -41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,856 | €13,191 | -€665 | -4.8% |
| Other operating charges | 640/8 | €6,079 | €4,508 | -€1,571 | -25.8% |
| Gross operating margin | 9900 | -€2,391 | €27,891 | +€30,283 | |
| Operating profit (loss) | 9901 | -€22,327 | €10,192 | +€32,519 | |
| Financial income | 75/76B | €594 | - | -€594 | |
| Recurring financial income | 75 | €594 | - | -€594 | |
| Financial charges | 65/66B | €603 | €361 | -€242 | -40.1% |
| Recurring financial charges | 65 | €603 | €361 | -€242 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | -€22,336 | €9,831 | +€32,167 | |
| Income taxes | 67/77 | €723 | €954 | +€230 | +31.9% |
| Profit (loss) for the period | 9904 | -€23,059 | €8,877 | +€31,937 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,059 | €8,877 | +€31,937 |
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 25 October 2026 via checked.be.