H.C. Finance: 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. Finance
Largest movements
- Tangible fixed assets -€65,682
down €65,682 (-94.2%), from €69,745 to €4,063
- Cash +€1,745
up €1,745 (+18.7%), from €9,334 to €11,079
mainly Investment in fixed assets (net) (+€65,087) and Tax, wage and social debts (+€4,118)
- Deferred charges and accrued income +€1,410
up €1,410 (+572%), from €247 to €1,657
- Debts after one year -€40,290
down €40,290 (-97.5%), from €41,342 to €1,052
- Current portion of long-term debt -€10,558
down €10,558 (-87.3%), from €12,094 to €1,537
- Profit (loss) carried forward -€8,512
new in 2025: -€8,512
- Other debts -€7,391
down €7,391 (-98.5%), from €7,502 to €110
- Tax, wage and social debts +€4,118
up €4,118 (+141%), from €2,915 to €7,034
- Gross operating margin -€33,050
down €33,050, from €31,040 to -€2,010
- Depreciation -€15,685
down €15,685 (-96.3%), from €16,280 to €595
- Taxes -€2,167
down €2,167 (-74.3%), from €2,915 to €749
- Financial charges +€822
up €822 (+27.5%), from €2,990 to €3,812
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 | €86,625 | €24,868 | -€61,757 | -71.3% |
| Fixed assets | 21/28 | €69,745 | €4,063 | -€65,682 | -94.2% |
| Tangible fixed assets | 22/27 | €69,745 | €4,063 | -€65,682 | -94.2% |
| Furniture and vehicles | 24 | €69,745 | €4,063 | -€65,682 | -94.2% |
| Current assets | 29/58 | €16,880 | €20,805 | +€3,925 | +23.3% |
| Amounts receivable within one year | 40/41 | €7,299 | €8,069 | +€771 | +10.6% |
| Trade receivables | 40 | €7,291 | €8,069 | +€778 | +10.7% |
| Other amounts receivable | 41 | €8 | €0 | -€8 | -100% |
| Cash at bank and in hand | 54/58 | €9,334 | €11,079 | +€1,745 | +18.7% |
| Deferred charges and accrued income | 490/1 | €247 | €1,657 | +€1,410 | +572% |
| Total equity and liabilities | 10/49 | €86,625 | €24,868 | -€61,757 | -71.3% |
| Equity | 10/15 | €22,680 | €14,168 | -€8,512 | -37.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €22,580 | €22,580 | = | 0.0% |
| Distributable reserves | 133 | €22,580 | €22,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,512 | -€8,512 | |
| Amounts payable | 17/49 | €63,945 | €10,700 | -€53,245 | -83.3% |
| Amounts payable after more than one year | 17 | €41,342 | €1,052 | -€40,290 | -97.5% |
| Financial debts | 170/4 | €41,342 | €1,052 | -€40,290 | -97.5% |
| Amounts payable within one year | 42/48 | €22,603 | €9,648 | -€12,954 | -57.3% |
| Current portion of amounts payable after more than one year | 42 | €12,094 | €1,537 | -€10,558 | -87.3% |
| Trade debts | 44 | €91 | €967 | +€876 | +962% |
| Suppliers | 440/4 | €91 | €967 | +€876 | +962% |
| Taxes, remuneration and social security | 45 | €2,915 | €7,034 | +€4,118 | +141% |
| Taxes | 450/3 | €2,915 | €7,034 | +€4,118 | +141% |
| Other amounts payable | 47/48 | €7,502 | €110 | -€7,391 | -98.5% |
| Non-recurring operating income | 76A | - | €2,411 | +€2,411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,280 | €595 | -€15,685 | -96.3% |
| Other operating charges | 640/8 | €1,339 | €1,346 | +€7 | +0.5% |
| Gross operating margin | 9900 | €31,040 | -€2,010 | -€33,050 | |
| Operating profit (loss) | 9901 | €13,421 | -€3,951 | -€17,372 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €2,990 | €3,812 | +€822 | +27.5% |
| Recurring financial charges | 65 | €2,990 | €3,812 | +€822 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | €10,434 | -€7,763 | -€18,197 | |
| Income taxes | 67/77 | €2,915 | €749 | -€2,167 | -74.3% |
| Profit (loss) for the period | 9904 | €7,518 | -€8,512 | -€16,030 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,518 | -€8,512 | -€16,030 |
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 22 October 2026 via checked.be.