H.D.C. TRANS: 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.D.C. TRANS
Largest movements
- Tangible fixed assets -€32,411
down €32,411 (-16.2%), from €200,379 to €167,967
of which Furniture and vehicles: -€28,787
- Receivables within one year -€14,982
down €14,982 (-34.7%), from €43,215 to €28,232
of which Other amounts receivable: -€11,531
- Deferred charges and accrued income -€3,109
down €3,109 (-23.3%), from €13,323 to €10,214
- Debts after one year -€35,142
down €35,142 (-24.1%), from €145,575 to €110,433
of which Financial debts: -€23,104
- Trade debts -€30,404
down €30,404 (-78.1%), from €38,948 to €8,544
- Reserves +€11,266
up €11,266 (+27.6%), from €40,848 to €52,115
of which Distributable reserves: +€11,266
- Tax, wage and social debts +€7,069
up €7,069 (+1,367%), from €517 to €7,586
- Depreciation +€15,947
up €15,947 (+88.3%), from €18,059 to €34,006
- Gross operating margin +€8,008
up €8,008 (+15.6%), from €51,225 to €59,233
- Taxes +€2,760
up €2,760 (+108%), from €2,546 to €5,306
- Financial charges +€1,880
up €1,880 (+48.5%), from €3,876 to €5,757
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 | €270,053 | €221,782 | -€48,271 | -17.9% |
| Fixed assets | 21/28 | €200,379 | €167,967 | -€32,411 | -16.2% |
| Tangible fixed assets | 22/27 | €200,379 | €167,967 | -€32,411 | -16.2% |
| Furniture and vehicles | 24 | €181,748 | €152,961 | -€28,787 | -15.8% |
| Other tangible fixed assets | 26 | €18,630 | €15,006 | -€3,624 | -19.5% |
| Current assets | 29/58 | €69,675 | €53,815 | -€15,860 | -22.8% |
| Amounts receivable within one year | 40/41 | €43,215 | €28,232 | -€14,982 | -34.7% |
| Trade receivables | 40 | €26,218 | €22,767 | -€3,451 | -13.2% |
| Other amounts receivable | 41 | €16,996 | €5,465 | -€11,531 | -67.8% |
| Cash at bank and in hand | 54/58 | €13,137 | €15,369 | +€2,232 | +17.0% |
| Deferred charges and accrued income | 490/1 | €13,323 | €10,214 | -€3,109 | -23.3% |
| Total equity and liabilities | 10/49 | €270,053 | €221,782 | -€48,271 | -17.9% |
| Equity | 10/15 | €60,848 | €72,115 | +€11,266 | +18.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €40,848 | €52,115 | +€11,266 | +27.6% |
| Tax-exempt reserves | 132 | €12,468 | €12,468 | = | 0.0% |
| Distributable reserves | 133 | €28,380 | €39,646 | +€11,266 | +39.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €209,205 | €149,667 | -€59,538 | -28.5% |
| Amounts payable after more than one year | 17 | €145,575 | €110,433 | -€35,142 | -24.1% |
| Financial debts | 170/4 | €133,537 | €110,433 | -€23,104 | -17.3% |
| Other amounts payable | 178/9 | €12,038 | €0 | -€12,038 | -100% |
| Amounts payable within one year | 42/48 | €63,630 | €39,234 | -€24,396 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €24,165 | €23,104 | -€1,061 | -4.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €38,948 | €8,544 | -€30,404 | -78.1% |
| Suppliers | 440/4 | €38,948 | €8,544 | -€30,404 | -78.1% |
| Taxes, remuneration and social security | 45 | €517 | €7,586 | +€7,069 | +1,367% |
| Taxes | 450/3 | €517 | €7,586 | +€7,069 | +1,367% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,468 | €0 | -€12,468 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,059 | €34,006 | +€15,947 | +88.3% |
| Other operating charges | 640/8 | €2,971 | €2,898 | -€73 | -2.5% |
| Gross operating margin | 9900 | €51,225 | €59,233 | +€8,008 | +15.6% |
| Operating profit (loss) | 9901 | €30,195 | €22,329 | -€7,866 | -26.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €3,876 | €5,757 | +€1,880 | +48.5% |
| Recurring financial charges | 65 | €3,876 | €5,757 | +€1,880 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | €26,319 | €16,573 | -€9,746 | -37.0% |
| Income taxes | 67/77 | €2,546 | €5,306 | +€2,760 | +108% |
| Profit (loss) for the period | 9904 | €23,773 | €11,266 | -€12,506 | -52.6% |
| Transfer to tax-exempt reserves | 689 | €12,468 | €0 | -€12,468 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €11,304 | €11,266 | -€38 | -0.3% |
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 25 October 2026 via checked.be.