H-COOL: what changed
Two fiscal 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-COOL
Largest movements
- Tangible fixed assets -€275,832
down €275,832 (-24.1%), from €1.1m to €866,418
of which Land and buildings: -€259,408
- Receivables within one year +€145,077
new in 2025: €145,077
- Profit (loss) carried forward +€347,904
up €347,904 (+33.0%), from -€1.1m to -€704,829
- Debts after one year -€267,839
down €267,839 (-17.5%), from €1.5m to €1.3m
- Other debts -€195,534
no longer reported in 2025 (was €195,534)
- Trade debts -€15,601
down €15,601 (-37.0%), from €42,159 to €26,558
- Financial charges -€29,009
down €29,009 (-47.1%), from €61,606 to €32,597
- Gross operating margin +€23,520
up €23,520 (+3.5%), from €679,479 to €702,999
- Depreciation -€17,517
down €17,517 (-6.0%), from €293,349 to €275,832
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 | €1,144,874 | €1,015,688 | -€129,186 | -11.3% |
| Fixed assets | 21/28 | €1,142,250 | €866,418 | -€275,832 | -24.1% |
| Tangible fixed assets | 22/27 | €1,142,250 | €866,418 | -€275,832 | -24.1% |
| Land and buildings | 22 | €1,054,360 | €794,952 | -€259,408 | -24.6% |
| Plant, machinery and equipment | 23 | €87,891 | €71,466 | -€16,425 | -18.7% |
| Current assets | 29/58 | €2,623 | €149,270 | +€146,647 | +5589.9% |
| Amounts receivable within one year | 40/41 | - | €145,077 | +€145,077 | |
| Other amounts receivable | 41 | - | €145,077 | +€145,077 | |
| Cash at bank and in hand | 54/58 | €2,623 | €4,193 | +€1,570 | +59.8% |
| Total equity and liabilities | 10/49 | €1,144,874 | €1,015,688 | -€129,186 | -11.3% |
| Equity | 10/15 | -€976,746 | -€630,588 | +€346,158 | +35.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €52,198 | €52,198 | = | 0.0% |
| Non-distributable reserves | 130/1 | €52,198 | €52,198 | = | 0.0% |
| Reserves not available under the articles | 1311 | €52,198 | €52,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,052,733 | -€704,829 | +€347,904 | +33.0% |
| Investment grants | 15 | €5,239 | €3,493 | -€1,746 | -33.3% |
| Provisions and deferred taxes | 16 | €1,746 | €1,164 | -€582 | -33.3% |
| Deferred taxes | 168 | €1,746 | €1,164 | -€582 | -33.3% |
| Amounts payable | 17/49 | €2,119,874 | €1,645,113 | -€474,761 | -22.4% |
| Amounts payable after more than one year | 17 | €1,529,850 | €1,262,011 | -€267,839 | -17.5% |
| Financial debts | 170/4 | €1,529,850 | €1,262,011 | -€267,839 | -17.5% |
| Amounts payable within one year | 42/48 | €514,127 | €307,793 | -€206,334 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €263,413 | €267,839 | +€4,425 | +1.7% |
| Trade debts | 44 | €42,159 | €26,558 | -€15,601 | -37.0% |
| Suppliers | 440/4 | €42,159 | €26,558 | -€15,601 | -37.0% |
| Taxes, remuneration and social security | 45 | €13,021 | €13,396 | +€376 | +2.9% |
| Taxes | 450/3 | €13,021 | €13,396 | +€376 | +2.9% |
| Other amounts payable | 47/48 | €195,534 | - | -€195,534 | |
| Accrued charges and deferred income | 492/3 | €75,897 | €75,308 | -€589 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293,349 | €275,832 | -€17,517 | -6.0% |
| Other operating charges | 640/8 | €43,841 | €48,994 | +€5,153 | +11.8% |
| Gross operating margin | 9900 | €679,479 | €702,999 | +€23,520 | +3.5% |
| Operating profit (loss) | 9901 | €342,289 | €378,172 | +€35,884 | +10.5% |
| Financial income | 75/76B | €1,840 | €1,746 | -€94 | -5.1% |
| Recurring financial income | 75 | €1,840 | €1,746 | -€94 | -5.1% |
| Financial charges | 65/66B | €61,606 | €32,597 | -€29,009 | -47.1% |
| Recurring financial charges | 65 | €61,606 | €32,597 | -€29,009 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €282,523 | €347,322 | +€64,798 | +22.9% |
| Transfer from deferred taxes | 780 | €582 | €582 | = | 0.0% |
| Profit (loss) for the period | 9904 | €283,106 | €347,904 | +€64,798 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €283,106 | €347,904 | +€64,798 | +22.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.