H.C. TRADING: 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. TRADING
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3,746
2024 · €33,185-€36,931
Equity
€532,367
2024 · €536,113-€3,746
Cash
€74,127
2024 · €99,847-€25,720
Balance sheet total
€1.7m
2024 · €1.7m+€5,991
Largest movements
Assets
- Current investments +€25,723
new in 2025: €25,723
- Cash -€25,720
down €25,720 (-25.8%), from €99,847 to €74,127
mainly Debts after one year (-€91,076) and Investment in fixed assets (net) (-€75,703)
Equity and liabilities
- Debts after one year -€91,076
down €91,076 (-13.5%), from €674,584 to €583,508
- Trade debts +€81,738
up €81,738 (+82.9%), from €98,589 to €180,327
- Short-term financial debts +€20,000
up €20,000 (+25.0%), from €80,000 to €100,000
Income statement
- Gross operating margin -€31,615
down €31,615 (-9.4%), from €335,166 to €303,551
- Staff costs +€21,847
up €21,847 (+13.0%), from €168,151 to €189,998
- Taxes -€11,367
down €11,367 (-83.2%), from €13,663 to €2,296
- Financial charges -€3,670
down €3,670 (-11.3%), from €32,373 to €28,703
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
€33,185
Gross operating margin
-€31,615
Staff costs
-€21,847
Depreciation
+€490
Other operating charges
+€1,019
Other operating items
-€22
Financial income
+€8
Financial charges
+€3,670
Taxes
+€11,367
Result 2025
-€3,746
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
+€149,621
Investment
-€101,426
Financing
-€73,914
Cash 2024
€99,847
From operations (derived)
+€149,621
Net result for the year
-€3,746
Depreciation
+€66,141
Stocks and contracts
+€4,848
Receivables within one year
-€559
Deferred charges and accrued income
-€714
Trade debts
+€81,738
Tax, wage and social debts
+€6,770
Other debts
-€5,090
Accrued charges and deferred income
+€233
Investment (derived)
-€101,426
Investment in fixed assets (net)
-€75,703
Current investments
-€25,723
Financing
-€73,914
Debts after one year
-€91,076
Current portion of long-term debt
-€2,838
Short-term financial debts
+€20,000
Cash 2025
€74,127
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,677,068 | €1,683,059 | +€5,991 | +0.4% |
| Fixed assets | 21/28 | €996,603 | €1,006,165 | +€9,562 | +1.0% |
| Tangible fixed assets | 22/27 | €996,603 | €1,006,165 | +€9,562 | +1.0% |
| Land and buildings | 22 | €925,400 | €880,266 | -€45,134 | -4.9% |
| Plant, machinery and equipment | 23 | €843 | €0 | -€843 | -100.0% |
| Furniture and vehicles | 24 | €14,263 | €3,923 | -€10,340 | -72.5% |
| Other tangible fixed assets | 26 | €56,097 | €121,975 | +€65,879 | +117% |
| Current assets | 29/58 | €680,465 | €676,894 | -€3,572 | -0.5% |
| Stocks and contracts in progress | 3 | €530,583 | €525,736 | -€4,848 | -0.9% |
| Stocks | 30/36 | €530,583 | €525,736 | -€4,848 | -0.9% |
| Amounts receivable within one year | 40/41 | €44,246 | €44,805 | +€559 | +1.3% |
| Trade receivables | 40 | €27,315 | €24,142 | -€3,174 | -11.6% |
| Other amounts receivable | 41 | €16,931 | €20,664 | +€3,733 | +22.0% |
| Current investments | 50/53 | - | €25,723 | +€25,723 | |
| Cash at bank and in hand | 54/58 | €99,847 | €74,127 | -€25,720 | -25.8% |
| Deferred charges and accrued income | 490/1 | €5,789 | €6,503 | +€714 | +12.3% |
| Total equity and liabilities | 10/49 | €1,677,068 | €1,683,059 | +€5,991 | +0.4% |
| Equity | 10/15 | €536,113 | €532,367 | -€3,746 | -0.7% |
| Contributions | 10/11 | €34,100 | €34,100 | = | 0.0% |
| Reserves | 13 | €192,409 | €192,409 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,110 | €16,110 | = | 0.0% |
| Distributable reserves | 133 | €176,299 | €176,299 | = | 0.0% |
| Profit (loss) carried forward | 14 | €309,604 | €305,858 | -€3,746 | -1.2% |
| Amounts payable | 17/49 | €1,140,955 | €1,150,692 | +€9,737 | +0.9% |
| Amounts payable after more than one year | 17 | €674,584 | €583,508 | -€91,076 | -13.5% |
| Financial debts | 170/4 | €674,584 | €583,508 | -€91,076 | -13.5% |
| Amounts payable within one year | 42/48 | €462,535 | €563,115 | +€100,580 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €93,914 | €91,076 | -€2,838 | -3.0% |
| Financial debts | 43 | €80,000 | €100,000 | +€20,000 | +25.0% |
| Credit institutions | 430/8 | €80,000 | €100,000 | +€20,000 | +25.0% |
| Trade debts | 44 | €98,589 | €180,327 | +€81,738 | +82.9% |
| Suppliers | 440/4 | €98,589 | €180,327 | +€81,738 | +82.9% |
| Taxes, remuneration and social security | 45 | €34,699 | €41,469 | +€6,770 | +19.5% |
| Taxes | 450/3 | €5,620 | €4,983 | -€636 | -11.3% |
| Remuneration and social security | 454/9 | €29,079 | €36,485 | +€7,406 | +25.5% |
| Other amounts payable | 47/48 | €155,333 | €150,243 | -€5,090 | -3.3% |
| Accrued charges and deferred income | 492/3 | €3,836 | €4,069 | +€233 | +6.1% |
| Remuneration, social security and pensions | 62 | €168,151 | €189,998 | +€21,847 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,631 | €66,141 | -€490 | -0.7% |
| Other operating charges | 640/8 | €22,611 | €21,592 | -€1,019 | -4.5% |
| Non-recurring operating charges | 66A | - | €22 | +€22 | |
| Gross operating margin | 9900 | €335,166 | €303,551 | -€31,615 | -9.4% |
| Operating profit (loss) | 9901 | €77,773 | €25,797 | -€51,975 | -66.8% |
| Financial income | 75/76B | €1,447 | €1,455 | +€8 | +0.5% |
| Recurring financial income | 75 | €1,447 | €1,455 | +€8 | +0.5% |
| Financial charges | 65/66B | €32,373 | €28,703 | -€3,670 | -11.3% |
| Recurring financial charges | 65 | €32,373 | €28,703 | -€3,670 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €46,847 | -€1,450 | -€48,298 | |
| Income taxes | 67/77 | €13,663 | €2,296 | -€11,367 | -83.2% |
| Profit (loss) for the period | 9904 | €33,185 | -€3,746 | -€36,931 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,185 | -€3,746 | -€36,931 |
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 14 October 2026 via checked.be.