H-CA: 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-CA
Largest movements
- Cash -€68,500
down €68,500 (-38.6%), from €177,358 to €108,858
mainly Contributions, distributions and other (-€274,536) and Current portion of long-term debt (-€4,214)
- Receivables after one year -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Tangible fixed assets -€10,556
down €10,556 (-66.2%), from €15,949 to €5,394
of which Leasing and similar rights: -€9,132
- Profit (loss) carried forward -€213,299
down €213,299 (-100.0%), from €213,299 to €0
- Other debts +€108,879
up €108,879 (+12511.5%), from €870 to €109,749
- Tax, wage and social debts +€9,098
up €9,098 (+493.7%), from €1,843 to €10,940
of which Taxes: +€7,694
- Current portion of long-term debt -€4,214
down €4,214 (-52.2%), from €8,072 to €3,858
- Debts after one year -€3,638
down €3,638 (-100.0%), from €3,638 to €0
- Financial charges +€5,508
up €5,508 (+1027.0%), from €536 to €6,044
- Gross operating margin +€3,254
up €3,254 (+3.7%), from €88,490 to €91,744
- Financial income +€1,002
up €1,002 (+66.3%), from €1,511 to €2,513
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.
Cash bridge derived
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 | €233,319 | €131,352 | -€101,967 | -43.7% |
| Fixed assets | 21/28 | €15,949 | €5,394 | -€10,556 | -66.2% |
| Tangible fixed assets | 22/27 | €15,949 | €5,394 | -€10,556 | -66.2% |
| Furniture and vehicles | 24 | €4,791 | €3,367 | -€1,423 | -29.7% |
| Leasing and similar rights | 25 | €11,159 | €2,027 | -€9,132 | -81.8% |
| Current assets | 29/58 | €217,369 | €125,958 | -€91,412 | -42.1% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100.0% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €14,367 | €16,403 | +€2,036 | +14.2% |
| Trade receivables | 40 | €13,233 | €13,868 | +€635 | +4.8% |
| Other amounts receivable | 41 | €1,134 | €2,535 | +€1,401 | +123.5% |
| Cash at bank and in hand | 54/58 | €177,358 | €108,858 | -€68,500 | -38.6% |
| Deferred charges and accrued income | 490/1 | €644 | €697 | +€53 | +8.2% |
| Total equity and liabilities | 10/49 | €233,319 | €131,352 | -€101,967 | -43.7% |
| Equity | 10/15 | €218,299 | €5,000 | -€213,299 | -97.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,299 | €0 | -€213,299 | -100.0% |
| Amounts payable | 17/49 | €15,020 | €126,352 | +€111,331 | +741.2% |
| Amounts payable after more than one year | 17 | €3,638 | €0 | -€3,638 | -100.0% |
| Financial debts | 170/4 | €3,638 | €0 | -€3,638 | -100.0% |
| Amounts payable within one year | 42/48 | €11,325 | €125,942 | +€114,616 | +1012.0% |
| Current portion of amounts payable after more than one year | 42 | €8,072 | €3,858 | -€4,214 | -52.2% |
| Trade debts | 44 | €541 | €1,394 | +€853 | +157.8% |
| Suppliers | 440/4 | €541 | €1,394 | +€853 | +157.8% |
| Taxes, remuneration and social security | 45 | €1,843 | €10,940 | +€9,098 | +493.7% |
| Taxes | 450/3 | €1,843 | €9,537 | +€7,694 | +417.6% |
| Remuneration and social security | 454/9 | - | €1,403 | +€1,403 | |
| Other amounts payable | 47/48 | €870 | €109,749 | +€108,879 | +12511.5% |
| Accrued charges and deferred income | 492/3 | €57 | €410 | +€353 | +621.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,424 | €10,556 | +€131 | +1.3% |
| Other operating charges | 640/8 | €721 | €453 | -€268 | -37.2% |
| Gross operating margin | 9900 | €88,490 | €91,744 | +€3,254 | +3.7% |
| Operating profit (loss) | 9901 | €77,345 | €80,736 | +€3,391 | +4.4% |
| Financial income | 75/76B | €1,511 | €2,513 | +€1,002 | +66.3% |
| Recurring financial income | 75 | €1,511 | €2,513 | +€1,002 | +66.3% |
| Financial charges | 65/66B | €536 | €6,044 | +€5,508 | +1027.0% |
| Recurring financial charges | 65 | €536 | €6,044 | +€5,508 | +1027.0% |
| Profit (loss) for the period before taxes | 9903 | €78,320 | €77,205 | -€1,115 | -1.4% |
| Income taxes | 67/77 | €16,079 | €15,967 | -€112 | -0.7% |
| Profit (loss) for the period | 9904 | €62,241 | €61,237 | -€1,003 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,241 | €61,237 | -€1,003 | -1.6% |
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 9 October 2026 via checked.be.