H.C.H.: what changed
What changed
H.C.H.
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€111,125
2024 · €62,949+€48,176
Equity
€322,733
2024 · €211,609+€111,125
Cash
€151,510
2024 · €99,083+€52,427
Balance sheet total
€1.4m
2024 · €912,709+€441,161
Largest movements
Assets
- Tangible fixed assets +€383,737
up €383,737 (+95.9%), from €400,000 to €783,737
- Cash +€52,427
up €52,427 (+52.9%), from €99,083 to €151,510
mainly Trade debts (+€406,719) and Net result for the year (+€111,125)
Equity and liabilities
- Trade debts +€406,719
up €406,719, from €0 to €406,719
- Profit (loss) carried forward +€98,176
up €98,176 (+758%), from €12,949 to €111,125
- Other debts -€80,000
down €80,000 (-12.3%), from €652,474 to €572,474
Income statement
- Financial charges -€33,925
down €33,925 (-96.6%), from €35,127 to €1,202
- Gross operating margin +€30,014
up €30,014 (+24.9%), from €120,520 to €150,533
- Taxes +€12,619
up €12,619 (+53.5%), from €23,579 to €36,198
- Depreciation +€2,512
new in 2025: €2,512
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€62,949
Gross operating margin
+€30,014
Depreciation
-€2,512
Other operating charges
-€1,118
Financial income
+€486
Financial charges
+€33,925
Taxes
-€12,619
Result 2025
€111,125
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€438,676
Investment
-€386,249
Financing
€0
Cash 2024
€99,083
From operations (derived)
+€438,676
Net result for the year
+€111,125
Depreciation
+€2,512
Receivables within one year
-€4,997
Trade debts
+€406,719
Tax, wage and social debts
+€3,317
Other debts
-€80,000
Investment (derived)
-€386,249
Investment in fixed assets (net)
-€386,249
Cash 2025
€151,510
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €912,709 | €1,353,869 | +€441,161 | +48.3% |
| Fixed assets | 21/28 | €808,998 | €1,192,734 | +€383,737 | +47.4% |
| Tangible fixed assets | 22/27 | €400,000 | €783,737 | +€383,737 | +95.9% |
| Land and buildings | 22 | €400,000 | €783,737 | +€383,737 | +95.9% |
| Financial fixed assets | 28 | €408,998 | €408,998 | = | 0.0% |
| Current assets | 29/58 | €103,711 | €161,135 | +€57,424 | +55.4% |
| Amounts receivable within one year | 40/41 | €2,690 | €7,687 | +€4,997 | +186% |
| Other amounts receivable | 41 | €2,690 | €7,687 | +€4,997 | +186% |
| Current investments | 50/53 | €1,939 | €1,939 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €99,083 | €151,510 | +€52,427 | +52.9% |
| Total equity and liabilities | 10/49 | €912,709 | €1,353,869 | +€441,161 | +48.3% |
| Equity | 10/15 | €211,609 | €322,733 | +€111,125 | +52.5% |
| Contributions | 10/11 | €180,600 | €180,600 | = | 0.0% |
| Reserves | 13 | €18,060 | €31,009 | +€12,949 | +71.7% |
| Non-distributable reserves | 130/1 | €18,060 | €18,060 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,060 | €18,060 | = | 0.0% |
| Distributable reserves | 133 | €0 | €12,949 | +€12,949 | |
| Profit (loss) carried forward | 14 | €12,949 | €111,125 | +€98,176 | +758% |
| Amounts payable | 17/49 | €701,100 | €1,031,136 | +€330,036 | +47.1% |
| Amounts payable within one year | 42/48 | €701,100 | €1,031,136 | +€330,036 | +47.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €406,719 | +€406,719 | |
| Suppliers | 440/4 | €0 | €406,719 | +€406,719 | |
| Taxes, remuneration and social security | 45 | €48,627 | €51,944 | +€3,317 | +6.8% |
| Taxes | 450/3 | €48,627 | €51,944 | +€3,317 | +6.8% |
| Other amounts payable | 47/48 | €652,474 | €572,474 | -€80,000 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,512 | +€2,512 | |
| Other operating charges | 640/8 | €0 | €1,118 | +€1,118 | |
| Gross operating margin | 9900 | €120,520 | €150,533 | +€30,014 | +24.9% |
| Operating profit (loss) | 9901 | €120,520 | €146,904 | +€26,384 | +21.9% |
| Financial income | 75/76B | €1,135 | €1,621 | +€486 | +42.8% |
| Recurring financial income | 75 | €1,135 | €1,621 | +€486 | +42.8% |
| Financial charges | 65/66B | €35,127 | €1,202 | -€33,925 | -96.6% |
| Recurring financial charges | 65 | €35,127 | €1,202 | -€33,925 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | €86,527 | €147,323 | +€60,795 | +70.3% |
| Income taxes | 67/77 | €23,579 | €36,198 | +€12,619 | +53.5% |
| Profit (loss) for the period | 9904 | €62,949 | €111,125 | +€48,176 | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,949 | €111,125 | +€48,176 | +76.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.