H&SC: 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&SC
Largest movements
- Receivables within one year -€55,561
down €55,561 (-20.0%), from €277,176 to €221,615
of which Trade receivables: -€40,205
- Tangible fixed assets -€40,651
down €40,651 (-9.7%), from €421,230 to €380,579
of which Plant, machinery and equipment: -€27,307
- Deferred charges and accrued income -€12,649
down €12,649 (-73.4%), from €17,239 to €4,590
- Profit (loss) carried forward -€78,007
down €78,007, from €15,352 to -€62,655
- Debts after one year -€39,866
down €39,866 (-41.0%), from €97,312 to €57,446
- Current portion of long-term debt +€16,962
up €16,962 (+14.5%), from €117,247 to €134,209
- Trade debts -€9,581
down €9,581 (-3.7%), from €258,717 to €249,136
- Gross operating margin -€56,543
down €56,543 (-42.8%), from €132,067 to €75,524
- Staff costs +€8,726
up €8,726 (+10.4%), from €83,924 to €92,650
- Other operating charges +€2,537
up €2,537 (+91.5%), from €2,773 to €5,310
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 | €810,901 | €701,911 | -€108,990 | -13.4% |
| Fixed assets | 21/28 | €421,330 | €380,679 | -€40,651 | -9.6% |
| Tangible fixed assets | 22/27 | €421,230 | €380,579 | -€40,651 | -9.7% |
| Plant, machinery and equipment | 23 | €114,364 | €87,057 | -€27,307 | -23.9% |
| Other tangible fixed assets | 26 | €306,866 | €293,522 | -€13,344 | -4.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €389,571 | €321,232 | -€68,339 | -17.5% |
| Stocks and contracts in progress | 3 | €90,690 | €88,076 | -€2,614 | -2.9% |
| Stocks | 30/36 | €90,690 | €88,076 | -€2,614 | -2.9% |
| Amounts receivable within one year | 40/41 | €277,176 | €221,615 | -€55,561 | -20.0% |
| Trade receivables | 40 | €52,808 | €12,603 | -€40,205 | -76.1% |
| Other amounts receivable | 41 | €224,369 | €209,012 | -€15,357 | -6.8% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,466 | €6,951 | +€2,485 | +55.6% |
| Deferred charges and accrued income | 490/1 | €17,239 | €4,590 | -€12,649 | -73.4% |
| Total equity and liabilities | 10/49 | €810,901 | €701,911 | -€108,990 | -13.4% |
| Equity | 10/15 | €183,714 | €105,708 | -€78,007 | -42.5% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €103,363 | €103,363 | = | 0.0% |
| Distributable reserves | 133 | €103,363 | €103,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,352 | -€62,655 | -€78,007 | |
| Amounts payable | 17/49 | €627,187 | €596,204 | -€30,983 | -4.9% |
| Amounts payable after more than one year | 17 | €97,312 | €57,446 | -€39,866 | -41.0% |
| Financial debts | 170/4 | €97,312 | €57,446 | -€39,866 | -41.0% |
| Amounts payable within one year | 42/48 | €529,875 | €538,758 | +€8,883 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €117,247 | €134,209 | +€16,962 | +14.5% |
| Trade debts | 44 | €258,717 | €249,136 | -€9,581 | -3.7% |
| Suppliers | 440/4 | €258,717 | €249,136 | -€9,581 | -3.7% |
| Taxes, remuneration and social security | 45 | €42,117 | €45,012 | +€2,896 | +6.9% |
| Taxes | 450/3 | €21,953 | €21,935 | -€18 | -0.1% |
| Remuneration and social security | 454/9 | €20,164 | €23,078 | +€2,914 | +14.5% |
| Other amounts payable | 47/48 | €111,794 | €110,400 | -€1,394 | -1.2% |
| Non-recurring operating income | 76A | €6,854 | - | -€6,854 | |
| Remuneration, social security and pensions | 62 | €83,924 | €92,650 | +€8,726 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,651 | €40,651 | = | 0.0% |
| Other operating charges | 640/8 | €2,773 | €5,310 | +€2,537 | +91.5% |
| Gross operating margin | 9900 | €132,067 | €75,524 | -€56,543 | -42.8% |
| Operating profit (loss) | 9901 | €4,719 | -€63,086 | -€67,805 | |
| Financial income | 75/76B | €1,399 | €2,412 | +€1,013 | +72.4% |
| Recurring financial income | 75 | €1,399 | €2,412 | +€1,013 | +72.4% |
| Financial charges | 65/66B | €16,108 | €17,332 | +€1,225 | +7.6% |
| Recurring financial charges | 65 | €16,108 | €17,332 | +€1,225 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,990 | -€78,007 | -€68,017 | -680.9% |
| Income taxes | 67/77 | €78 | - | -€78 | |
| Profit (loss) for the period | 9904 | -€10,068 | -€78,007 | -€67,939 | -674.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,068 | -€78,007 | -€67,939 | -674.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.