H&C: 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&C
Largest movements
- Current investments -€500,748
no longer reported in 2025 (was €500,748)
- Tangible fixed assets +€96,203
up €96,203 (+106%), from €90,804 to €187,006
of which Plant, machinery and equipment: +€69,149
- Cash +€46,863
up €46,863 (+7.3%), from €645,418 to €692,282
mainly Net result for the year (+€580,050) and Other debts (+€548,108)
- Receivables within one year -€33,515
down €33,515 (-82.0%), from €40,857 to €7,342
of which Trade receivables: -€28,945
- Reserves -€965,100
down €965,100 (-85.2%), from €1.1m to €167,752
of which Distributable reserves: -€963,650
- Other debts +€548,108
up €548,108 (+13,922%), from €3,937 to €552,045
- Tax, wage and social debts +€52,583
up €52,583 (+79.5%), from €66,160 to €118,743
of which Taxes: +€52,583
- Trade debts -€27,355
down €27,355 (-49.4%), from €55,414 to €28,059
- Gross operating margin +€174,918
up €174,918 (+28.7%), from €609,787 to €784,705
- Taxes +€40,268
up €40,268 (+27.8%), from €144,871 to €185,139
- Financial income +€14,878
up €14,878 (+37,194%), from €40 to €14,918
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 | €1,280,953 | €888,323 | -€392,630 | -30.7% |
| Fixed assets | 21/28 | €90,804 | €187,006 | +€96,203 | +106% |
| Tangible fixed assets | 22/27 | €90,804 | €187,006 | +€96,203 | +106% |
| Plant, machinery and equipment | 23 | €5,950 | €75,099 | +€69,149 | +1,162% |
| Furniture and vehicles | 24 | €74,143 | €50,793 | -€23,350 | -31.5% |
| Other tangible fixed assets | 26 | €10,711 | €61,114 | +€50,403 | +471% |
| Current assets | 29/58 | €1,190,149 | €701,317 | -€488,833 | -41.1% |
| Amounts receivable within one year | 40/41 | €40,857 | €7,342 | -€33,515 | -82.0% |
| Trade receivables | 40 | €34,989 | €6,044 | -€28,945 | -82.7% |
| Other amounts receivable | 41 | €5,868 | €1,298 | -€4,570 | -77.9% |
| Current investments | 50/53 | €500,748 | - | -€500,748 | |
| Cash at bank and in hand | 54/58 | €645,418 | €692,282 | +€46,863 | +7.3% |
| Deferred charges and accrued income | 490/1 | €3,126 | €1,693 | -€1,433 | -45.8% |
| Total equity and liabilities | 10/49 | €1,280,953 | €888,323 | -€392,630 | -30.7% |
| Equity | 10/15 | €1,151,444 | €186,494 | -€964,950 | -83.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,132,852 | €167,752 | -€965,100 | -85.2% |
| Tax-exempt reserves | 132 | €3,902 | €2,452 | -€1,450 | -37.2% |
| Distributable reserves | 133 | €1,128,950 | €165,300 | -€963,650 | -85.4% |
| Profit (loss) carried forward | 14 | €42 | €192 | +€151 | +362% |
| Provisions and deferred taxes | 16 | €1,301 | €817 | -€483 | -37.2% |
| Deferred taxes | 168 | €1,301 | €817 | -€483 | -37.2% |
| Amounts payable | 17/49 | €128,208 | €701,012 | +€572,803 | +447% |
| Amounts payable within one year | 42/48 | €125,512 | €698,848 | +€573,336 | +457% |
| Trade debts | 44 | €55,414 | €28,059 | -€27,355 | -49.4% |
| Suppliers | 440/4 | €55,414 | €28,059 | -€27,355 | -49.4% |
| Taxes, remuneration and social security | 45 | €66,160 | €118,743 | +€52,583 | +79.5% |
| Taxes | 450/3 | €64,160 | €116,743 | +€52,583 | +82.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €3,937 | €552,045 | +€548,108 | +13,922% |
| Accrued charges and deferred income | 492/3 | €2,697 | €2,164 | -€533 | -19.8% |
| Non-recurring operating income | 76A | - | €87 | +€87 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,451 | €33,646 | +€2,195 | +7.0% |
| Other operating charges | 640/8 | €1,379 | €724 | -€655 | -47.5% |
| Non-recurring operating charges | 66A | €1,733 | - | -€1,733 | |
| Gross operating margin | 9900 | €609,787 | €784,705 | +€174,918 | +28.7% |
| Operating profit (loss) | 9901 | €575,224 | €750,335 | +€175,111 | +30.4% |
| Financial income | 75/76B | €40 | €14,918 | +€14,878 | +37,194% |
| Recurring financial income | 75 | €40 | €14,918 | +€14,878 | +37,194% |
| Financial charges | 65/66B | €111 | €547 | +€436 | +392% |
| Recurring financial charges | 65 | €111 | €547 | +€436 | +392% |
| Profit (loss) for the period before taxes | 9903 | €575,153 | €764,706 | +€189,553 | +33.0% |
| Transfer from deferred taxes | 780 | €483 | €483 | = | 0.0% |
| Income taxes | 67/77 | €144,871 | €185,139 | +€40,268 | +27.8% |
| Profit (loss) for the period | 9904 | €430,765 | €580,050 | +€149,285 | +34.7% |
| Transfer from tax-exempt reserves | 789 | €1,450 | €1,450 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €432,216 | €581,501 | +€149,285 | +34.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.