H & C INVEST: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
H & C INVEST
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€684
up €684 (+5.5%), from €12,443 to €13,127
- Taxes +€243
up €243 (+9.0%), from €2,688 to €2,930
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,749,217 | €3,745,901 | -€3,316 | -0.1% |
| Fixed assets | 21/28 | €3,742,636 | €3,740,481 | -€2,156 | -0.1% |
| Tangible fixed assets | 22/27 | €67,536 | €65,381 | -€2,156 | -3.2% |
| Land and buildings | 22 | €67,536 | €65,381 | -€2,156 | -3.2% |
| Financial fixed assets | 28 | €3,675,100 | €3,675,100 | = | 0.0% |
| Current assets | 29/58 | €6,580 | €5,420 | -€1,160 | -17.6% |
| Amounts receivable within one year | 40/41 | €600 | €600 | = | 0.0% |
| Trade receivables | 40 | €600 | €600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,980 | €4,820 | -€1,160 | -19.4% |
| Total equity and liabilities | 10/49 | €3,749,217 | €3,745,901 | -€3,316 | -0.1% |
| Equity | 10/15 | €3,731,031 | €3,736,887 | +€5,856 | +0.2% |
| Contributions | 10/11 | €3,675,100 | €3,675,100 | = | 0.0% |
| Reserves | 13 | €55,931 | €61,787 | +€5,856 | +10.5% |
| Distributable reserves | 133 | €55,931 | €61,787 | +€5,856 | +10.5% |
| Amounts payable | 17/49 | €18,185 | €9,014 | -€9,171 | -50.4% |
| Amounts payable after more than one year | 17 | €682 | - | -€682 | |
| Financial debts | 170/4 | €682 | - | -€682 | |
| Amounts payable within one year | 42/48 | €17,504 | €9,014 | -€8,490 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €8,101 | €682 | -€7,419 | -91.6% |
| Trade debts | 44 | €968 | - | -€968 | |
| Suppliers | 440/4 | €968 | - | -€968 | |
| Taxes, remuneration and social security | 45 | €5,721 | €5,618 | -€103 | -1.8% |
| Taxes | 450/3 | €5,721 | €5,618 | -€103 | -1.8% |
| Other amounts payable | 47/48 | €2,715 | €2,715 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,156 | €2,156 | = | 0.0% |
| Other operating charges | 640/8 | €1,996 | €1,904 | -€92 | -4.6% |
| Gross operating margin | 9900 | €12,443 | €13,127 | +€684 | +5.5% |
| Operating profit (loss) | 9901 | €8,291 | €9,067 | +€777 | +9.4% |
| Financial charges | 65/66B | €354 | €281 | -€73 | -20.6% |
| Recurring financial charges | 65 | €354 | €281 | -€73 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €7,936 | €8,786 | +€850 | +10.7% |
| Income taxes | 67/77 | €2,688 | €2,930 | +€243 | +9.0% |
| Profit (loss) for the period | 9904 | €5,249 | €5,856 | +€607 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,249 | €5,856 | +€607 | +11.6% |
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 1 November 2026 via checked.be.