H.C.S. DISTRIBUTION: 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.
What changed
H.C.S. DISTRIBUTION
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€159,270
2024 · €102,610+€56,660
Equity
€1.3m
2024 · €1.1m+€159,270
Cash
€358,138
2024 · €356,466+€1,672
Balance sheet total
€2.4m
2024 · €2.5m-€127,172
Largest movements
Assets
- Tangible fixed assets -€112,477
down €112,477 (-6.3%), from €1.8m to €1.7m
of which Plant, machinery and equipment: -€90,906
Equity and liabilities
- Debts after one year -€195,044
down €195,044 (-26.7%), from €731,351 to €536,307
- Reserves +€159,270
up €159,270 (+57.3%), from €277,848 to €437,118
of which Distributable reserves: +€159,270
- Trade debts -€56,764
down €56,764 (-31.0%), from €182,913 to €126,149
- Other debts -€40,000
no longer reported in 2025 (was €40,000)
- Accrued charges and deferred income +€27,834
up €27,834 (+102%), from €27,217 to €55,051
Income statement
- Turnover +€4.9m
new in 2025: €4.9m
- Purchases and services +€4.3m
new in 2025: €4.3m
- Staff costs -€73,488
down €73,488 (-14.8%), from €497,640 to €424,152
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.
Result 2024
€102,610
Gross operating margin
-€488
Staff costs
+€73,488
Depreciation
+€655
Other operating charges
+€628
Other operating items
+€381
Financial income
+€5,430
Financial charges
+€5,345
Taxes
-€28,779
Result 2025
€159,270
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€229,982
Investment
-€34,430
Financing
-€193,880
Cash 2024
€356,466
From operations (derived)
+€229,982
Net result for the year
+€159,270
Depreciation
+€143,835
Stocks and contracts
+€222
Receivables within one year
+€4,795
Deferred charges and accrued income
+€14,422
Trade debts
-€56,764
Tax, wage and social debts
-€23,632
Other debts
-€40,000
Accrued charges and deferred income
+€27,834
Investment (derived)
-€34,430
Investment in fixed assets (net)
-€34,430
Financing
-€193,880
Debts after one year
-€195,044
Current portion of long-term debt
+€1,164
Cash 2025
€358,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,493,028 | €2,365,856 | -€127,172 | -5.1% |
| Formation expenses | 20 | €11,492 | €17,056 | +€5,564 | +48.4% |
| Fixed assets | 21/28 | €1,823,024 | €1,708,055 | -€114,969 | -6.3% |
| Intangible fixed assets | 21 | €39,646 | €37,154 | -€2,492 | -6.3% |
| Tangible fixed assets | 22/27 | €1,783,378 | €1,670,901 | -€112,477 | -6.3% |
| Land and buildings | 22 | €1,248,358 | €1,210,668 | -€37,690 | -3.0% |
| Plant, machinery and equipment | 23 | €494,013 | €403,107 | -€90,906 | -18.4% |
| Furniture and vehicles | 24 | €41,007 | €57,126 | +€16,119 | +39.3% |
| Current assets | 29/58 | €658,512 | €640,745 | -€17,767 | -2.7% |
| Stocks and contracts in progress | 3 | €199,378 | €199,156 | -€222 | -0.1% |
| Stocks | 30/36 | €199,378 | €199,156 | -€222 | -0.1% |
| Amounts receivable within one year | 40/41 | €66,861 | €62,066 | -€4,795 | -7.2% |
| Trade receivables | 40 | €66,830 | €60,922 | -€5,908 | -8.8% |
| Other amounts receivable | 41 | €31 | €1,144 | +€1,113 | +3,590% |
| Cash at bank and in hand | 54/58 | €356,466 | €358,138 | +€1,672 | +0.5% |
| Deferred charges and accrued income | 490/1 | €35,807 | €21,385 | -€14,422 | -40.3% |
| Total equity and liabilities | 10/49 | €2,493,028 | €2,365,856 | -€127,172 | -5.1% |
| Equity | 10/15 | €1,129,847 | €1,289,117 | +€159,270 | +14.1% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Capital | 10 | €85,000 | €85,000 | = | 0.0% |
| Issued capital | 100 | €85,000 | €85,000 | = | 0.0% |
| Revaluation surpluses | 12 | €752,020 | €752,020 | = | 0.0% |
| Reserves | 13 | €277,848 | €437,118 | +€159,270 | +57.3% |
| Non-distributable reserves | 130/1 | €8,500 | €8,500 | = | 0.0% |
| Legal reserve | 130 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €269,348 | €428,618 | +€159,270 | +59.1% |
| Profit (loss) carried forward | 14 | €14,979 | €14,979 | = | 0.0% |
| Amounts payable | 17/49 | €1,363,181 | €1,076,739 | -€286,442 | -21.0% |
| Amounts payable after more than one year | 17 | €731,351 | €536,307 | -€195,044 | -26.7% |
| Financial debts | 170/4 | €731,351 | €536,307 | -€195,044 | -26.7% |
| Amounts payable within one year | 42/48 | €604,613 | €485,381 | -€119,232 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €193,881 | €195,045 | +€1,164 | +0.6% |
| Trade debts | 44 | €182,913 | €126,149 | -€56,764 | -31.0% |
| Suppliers | 440/4 | €182,913 | €126,149 | -€56,764 | -31.0% |
| Taxes, remuneration and social security | 45 | €187,819 | €164,187 | -€23,632 | -12.6% |
| Taxes | 450/3 | €50,329 | €43,323 | -€7,006 | -13.9% |
| Remuneration and social security | 454/9 | €137,490 | €120,864 | -€16,626 | -12.1% |
| Other amounts payable | 47/48 | €40,000 | - | -€40,000 | |
| Accrued charges and deferred income | 492/3 | €27,217 | €55,051 | +€27,834 | +102% |
| Turnover | 70 | - | €4,948,996 | +€4.9m | |
| Non-recurring operating income | 76A | - | €14,186 | +€14,186 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €4,336,853 | +€4.3m | |
| Remuneration, social security and pensions | 62 | €497,640 | €424,152 | -€73,488 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,490 | €143,835 | -€655 | -0.5% |
| Other operating charges | 640/8 | €14,866 | €14,238 | -€628 | -4.2% |
| Non-recurring operating charges | 66A | €460 | €79 | -€381 | -82.8% |
| Gross operating margin | 9900 | €811,472 | €810,984 | -€488 | -0.1% |
| Operating profit (loss) | 9901 | €154,016 | €228,680 | +€74,664 | +48.5% |
| Financial income | 75/76B | €7,086 | €12,516 | +€5,430 | +76.6% |
| Recurring financial income | 75 | €7,086 | €12,516 | +€5,430 | +76.6% |
| Financial charges | 65/66B | €35,378 | €30,033 | -€5,345 | -15.1% |
| Recurring financial charges | 65 | €35,378 | €30,033 | -€5,345 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €125,724 | €211,163 | +€85,439 | +68.0% |
| Income taxes | 67/77 | €23,114 | €51,893 | +€28,779 | +125% |
| Profit (loss) for the period | 9904 | €102,610 | €159,270 | +€56,660 | +55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,610 | €159,270 | +€56,660 | +55.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.