H&C: 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.
H&C
Largest movements
- Stocks and contracts -€38,126
no longer reported in 2025 (was €38,126)
- Receivables within one year -€4,087
down €4,087 (-4.8%), from €84,959 to €80,872
of which Trade receivables: -€39,606
- Deferred charges and accrued income -€2,570
no longer reported in 2025 (was €2,570)
- Tangible fixed assets -€1,713
down €1,713 (-96.8%), from €1,770 to €57
of which Plant, machinery and equipment: -€1,597
- Profit (loss) carried forward -€36,736
down €36,736 (-49.7%), from €73,904 to €37,168
- Trade debts -€10,623
down €10,623 (-78.1%), from €13,602 to €2,979
- Gross operating margin -€33,950
down €33,950 (-1067.6%), from -€3,180 to -€37,130
- Depreciation -€4,494
down €4,494 (-72.4%), from €6,208 to €1,713
- Staff costs -€1,727
no longer reported in 2025 (was €1,727)
- Other operating charges -€1,515
down €1,515 (-72.7%), from €2,085 to €570
- Financial income +€1,060
up €1,060 (+45.3%), from €2,338 to €3,398
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 | €129,483 | €82,124 | -€47,359 | -36.6% |
| Fixed assets | 21/28 | €1,770 | €57 | -€1,713 | -96.8% |
| Tangible fixed assets | 22/27 | €1,770 | €57 | -€1,713 | -96.8% |
| Plant, machinery and equipment | 23 | €1,654 | €57 | -€1,597 | -96.6% |
| Furniture and vehicles | 24 | €116 | - | -€116 | |
| Current assets | 29/58 | €127,713 | €82,067 | -€45,646 | -35.7% |
| Stocks and contracts in progress | 3 | €38,126 | - | -€38,126 | |
| Stocks | 30/36 | €38,126 | - | -€38,126 | |
| Amounts receivable within one year | 40/41 | €84,959 | €80,872 | -€4,087 | -4.8% |
| Trade receivables | 40 | €41,566 | €1,960 | -€39,606 | -95.3% |
| Other amounts receivable | 41 | €43,394 | €78,912 | +€35,519 | +81.9% |
| Cash at bank and in hand | 54/58 | €2,058 | €1,195 | -€863 | -41.9% |
| Deferred charges and accrued income | 490/1 | €2,570 | - | -€2,570 | |
| Total equity and liabilities | 10/49 | €129,483 | €82,124 | -€47,359 | -36.6% |
| Equity | 10/15 | €101,383 | €64,647 | -€36,736 | -36.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Other | 1319 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,904 | €37,168 | -€36,736 | -49.7% |
| Amounts payable | 17/49 | €28,100 | €17,477 | -€10,623 | -37.8% |
| Amounts payable within one year | 42/48 | €28,100 | €17,477 | -€10,623 | -37.8% |
| Trade debts | 44 | €13,602 | €2,979 | -€10,623 | -78.1% |
| Suppliers | 440/4 | €13,602 | €2,979 | -€10,623 | -78.1% |
| Taxes, remuneration and social security | 45 | €202 | €202 | = | 0.0% |
| Taxes | 450/3 | €202 | €202 | = | 0.0% |
| Other amounts payable | 47/48 | €14,296 | €14,296 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,727 | - | -€1,727 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,208 | €1,713 | -€4,494 | -72.4% |
| Other operating charges | 640/8 | €2,085 | €570 | -€1,515 | -72.7% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | -€3,180 | -€37,130 | -€33,950 | -1067.6% |
| Operating profit (loss) | 9901 | -€13,200 | -€39,476 | -€26,277 | -199.1% |
| Financial income | 75/76B | €2,338 | €3,398 | +€1,060 | +45.3% |
| Recurring financial income | 75 | €2,338 | €3,398 | +€1,060 | +45.3% |
| Financial charges | 65/66B | €494 | €440 | -€54 | -11.0% |
| Recurring financial charges | 65 | €494 | €440 | -€54 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,356 | -€36,518 | -€25,163 | -221.6% |
| Income taxes | 67/77 | €376 | €218 | -€158 | -42.1% |
| Profit (loss) for the period | 9904 | -€11,732 | -€36,736 | -€25,004 | -213.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,732 | -€36,736 | -€25,004 | -213.1% |
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 6 October 2026 via checked.be.