H-Con: 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-Con
Largest movements
- Tangible fixed assets -€20,892
down €20,892 (-14.8%), from €141,048 to €120,156
- Cash +€3,974
up €3,974 (+60.1%), from €6,614 to €10,588
mainly Depreciation (+€22,092) and Other debts (+€8,288)
- Debts after one year -€19,533
down €19,533 (-30.0%), from €65,080 to €45,548
- Tax, wage and social debts -€16,468
down €16,468 (-54.4%), from €30,278 to €13,809
of which Remuneration and social security: -€15,339
- Other debts +€8,288
up €8,288 (+11.0%), from €75,292 to €83,580
- Profit (loss) carried forward +€4,799
up €4,799 (+6.5%), from -€73,714 to -€68,915
- Advances received +€3,149
up €3,149 (+109%), from €2,880 to €6,029
- Staff costs -€108,623
down €108,623 (-52.6%), from €206,638 to €98,015
- Gross operating margin -€50,985
down €50,985 (-27.6%), from €184,775 to €133,790
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,315 | €141,567 | -€15,748 | -10.0% |
| Fixed assets | 21/28 | €141,048 | €120,156 | -€20,892 | -14.8% |
| Tangible fixed assets | 22/27 | €141,048 | €120,156 | -€20,892 | -14.8% |
| Land and buildings | 22 | €102,841 | €96,604 | -€6,238 | -6.1% |
| Plant, machinery and equipment | 23 | €18,669 | €12,315 | -€6,354 | -34.0% |
| Furniture and vehicles | 24 | €8,872 | €4,126 | -€4,745 | -53.5% |
| Other tangible fixed assets | 26 | €10,666 | €7,110 | -€3,555 | -33.3% |
| Current assets | 29/58 | €16,267 | €21,411 | +€5,144 | +31.6% |
| Amounts receivable within one year | 40/41 | €7,624 | €7,850 | +€226 | +3.0% |
| Trade receivables | 40 | €6,504 | €2,202 | -€4,302 | -66.1% |
| Other amounts receivable | 41 | €1,120 | €5,647 | +€4,528 | +404% |
| Cash at bank and in hand | 54/58 | €6,614 | €10,588 | +€3,974 | +60.1% |
| Deferred charges and accrued income | 490/1 | €2,029 | €2,973 | +€944 | +46.5% |
| Total equity and liabilities | 10/49 | €157,315 | €141,567 | -€15,748 | -10.0% |
| Equity | 10/15 | -€48,714 | -€43,915 | +€4,799 | +9.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,714 | -€68,915 | +€4,799 | +6.5% |
| Amounts payable | 17/49 | €206,029 | €185,482 | -€20,547 | -10.0% |
| Amounts payable after more than one year | 17 | €65,080 | €45,548 | -€19,533 | -30.0% |
| Financial debts | 170/4 | €65,080 | €45,548 | -€19,533 | -30.0% |
| Amounts payable within one year | 42/48 | €140,949 | €139,934 | -€1,014 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €18,558 | €19,533 | +€974 | +5.3% |
| Trade debts | 44 | €13,941 | €16,984 | +€3,043 | +21.8% |
| Suppliers | 440/4 | €13,941 | €16,984 | +€3,043 | +21.8% |
| Advances received on contracts in progress | 46 | €2,880 | €6,029 | +€3,149 | +109% |
| Taxes, remuneration and social security | 45 | €30,278 | €13,809 | -€16,468 | -54.4% |
| Taxes | 450/3 | €8,026 | €6,897 | -€1,129 | -14.1% |
| Remuneration and social security | 454/9 | €22,252 | €6,913 | -€15,339 | -68.9% |
| Other amounts payable | 47/48 | €75,292 | €83,580 | +€8,288 | +11.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €206,638 | €98,015 | -€108,623 | -52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,853 | €22,092 | +€240 | +1.1% |
| Other operating charges | 640/8 | €959 | €1,029 | +€70 | +7.3% |
| Non-recurring operating charges | 66A | €178 | €3,971 | +€3,794 | +2,137% |
| Gross operating margin | 9900 | €184,775 | €133,790 | -€50,985 | -27.6% |
| Operating profit (loss) | 9901 | -€44,852 | €8,683 | +€53,535 | |
| Financial income | 75/76B | €216 | €418 | +€202 | +93.6% |
| Recurring financial income | 75 | €216 | €418 | +€202 | +93.6% |
| Financial charges | 65/66B | €5,053 | €4,301 | -€751 | -14.9% |
| Recurring financial charges | 65 | €5,053 | €4,301 | -€751 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | -€49,689 | €4,799 | +€54,488 | |
| Profit (loss) for the period | 9904 | -€49,689 | €4,799 | +€54,488 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,689 | €4,799 | +€54,488 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.