HBCE: 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.
HBCE
Largest movements
- Cash +€54,151
up €54,151 (+73.2%), from €73,933 to €128,084
mainly Tax, wage and social debts (+€70,416) and Net result for the year (+€52,683)
- Receivables within one year -€24,188
down €24,188 (-19.1%), from €126,334 to €102,146
- Deferred charges and accrued income +€22,567
up €22,567 (+368%), from €6,132 to €28,699
- Current investments +€13,500
new in 2025: €13,500
- Financial fixed assets +€13,450
up €13,450 (+1.7%), from €801,200 to €814,650
- Tax, wage and social debts +€70,416
up €70,416 (+30.8%), from €228,852 to €299,268
of which Taxes: +€42,205
- Profit (loss) carried forward +€38,383
up €38,383 (+7.9%), from €486,888 to €525,270
- Other debts -€36,564
down €36,564 (-28.9%), from €126,606 to €90,042
- Trade debts +€16,802
up €16,802 (+26.0%), from €64,706 to €81,508
- Financial charges +€218,325
up €218,325 (+1,352%), from €16,154 to €234,478
of which Non-recurring financial charges: +€200,000
- Other operating charges -€84,753
down €84,753 (-69.3%), from €122,299 to €37,546
- Gross operating margin +€36,996
up €36,996 (+6.5%), from €572,264 to €609,260
- Staff costs +€31,228
up €31,228 (+21.9%), from €142,519 to €173,747
- Taxes +€7,865
up €7,865 (+7.8%), from €101,232 to €109,097
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 | €1,021,436 | €1,105,471 | +€84,036 | +8.2% |
| Fixed assets | 21/28 | €813,472 | €831,185 | +€17,713 | +2.2% |
| Tangible fixed assets | 22/27 | €12,272 | €16,535 | +€4,263 | +34.7% |
| Furniture and vehicles | 24 | €8,163 | €12,857 | +€4,694 | +57.5% |
| Other tangible fixed assets | 26 | €4,108 | €3,678 | -€431 | -10.5% |
| Financial fixed assets | 28 | €801,200 | €814,650 | +€13,450 | +1.7% |
| Current assets | 29/58 | €207,964 | €274,287 | +€66,323 | +31.9% |
| Stocks and contracts in progress | 3 | €1,566 | €1,858 | +€292 | +18.7% |
| Stocks | 30/36 | €1,566 | €1,858 | +€292 | +18.7% |
| Amounts receivable within one year | 40/41 | €126,334 | €102,146 | -€24,188 | -19.1% |
| Other amounts receivable | 41 | €126,334 | €102,146 | -€24,188 | -19.1% |
| Current investments | 50/53 | - | €13,500 | +€13,500 | |
| Cash at bank and in hand | 54/58 | €73,933 | €128,084 | +€54,151 | +73.2% |
| Deferred charges and accrued income | 490/1 | €6,132 | €28,699 | +€22,567 | +368% |
| Total equity and liabilities | 10/49 | €1,021,436 | €1,105,471 | +€84,036 | +8.2% |
| Equity | 10/15 | €504,163 | €542,546 | +€38,383 | +7.6% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €1,076 | €1,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,076 | €1,076 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,076 | €1,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | €486,888 | €525,270 | +€38,383 | +7.9% |
| Provisions and deferred taxes | 16 | €58,890 | €58,890 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €58,890 | €58,890 | = | 0.0% |
| Major repairs and maintenance | 162 | €58,890 | €58,890 | = | 0.0% |
| Amounts payable | 17/49 | €458,382 | €504,035 | +€45,653 | +10.0% |
| Amounts payable within one year | 42/48 | €435,466 | €486,119 | +€50,653 | +11.6% |
| Trade debts | 44 | €64,706 | €81,508 | +€16,802 | +26.0% |
| Suppliers | 440/4 | €64,706 | €81,508 | +€16,802 | +26.0% |
| Advances received on contracts in progress | 46 | €15,301 | €15,301 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €228,852 | €299,268 | +€70,416 | +30.8% |
| Taxes | 450/3 | €197,553 | €239,758 | +€42,205 | +21.4% |
| Remuneration and social security | 454/9 | €31,300 | €59,510 | +€28,210 | +90.1% |
| Other amounts payable | 47/48 | €126,606 | €90,042 | -€36,564 | -28.9% |
| Accrued charges and deferred income | 492/3 | €22,917 | €17,917 | -€5,000 | -21.8% |
| Remuneration, social security and pensions | 62 | €142,519 | €173,747 | +€31,228 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,228 | €5,157 | +€929 | +22.0% |
| Other operating charges | 640/8 | €122,299 | €37,546 | -€84,753 | -69.3% |
| Gross operating margin | 9900 | €572,264 | €609,260 | +€36,996 | +6.5% |
| Operating profit (loss) | 9901 | €303,217 | €392,810 | +€89,592 | +29.5% |
| Financial income | 75/76B | €0 | €3,448 | +€3,448 | +783,582% |
| Recurring financial income | 75 | €0 | €3,448 | +€3,448 | +783,582% |
| Financial charges | 65/66B | €16,154 | €234,478 | +€218,325 | +1,352% |
| Recurring financial charges | 65 | €16,154 | €34,478 | +€18,325 | +113% |
| Non-recurring financial charges | 66B | - | €200,000 | +€200,000 | |
| Profit (loss) for the period before taxes | 9903 | €287,064 | €161,780 | -€125,284 | -43.6% |
| Income taxes | 67/77 | €101,232 | €109,097 | +€7,865 | +7.8% |
| Profit (loss) for the period | 9904 | €185,832 | €52,683 | -€133,149 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €185,832 | €52,683 | -€133,149 | -71.7% |
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 14 October 2026 via checked.be.