HC: 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.
HC
Largest movements
- Tangible fixed assets +€290,161
up €290,161 (+96720.4%), from €300 to €290,461
of which Land and buildings: +€290,461
- Cash +€20,574
up €20,574 (+6.2%), from €331,864 to €352,438
mainly Net result for the year (+€407,924) and Depreciation (+€53,741)
- Receivables within one year +€18,731
up €18,731 (+3.5%), from €530,937 to €549,668
of which Other amounts receivable: +€24,446
- Profit (loss) carried forward +€407,924
up €407,924 (+33582.0%), from €1,215 to €409,139
- Tax, wage and social debts -€72,028
down €72,028 (-42.0%), from €171,345 to €99,317
- Other debts -€22,673
down €22,673 (-3.4%), from €670,082 to €647,409
- Trade debts +€16,242
new in 2025: €16,242
- Depreciation +€53,381
up €53,381 (+14828.2%), from €360 to €53,741
- Taxes -€14,385
down €14,385 (-9.8%), from €147,102 to €132,717
- Gross operating margin -€12,710
down €12,710 (-2.1%), from €607,956 to €595,246
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 | €863,101 | €1,192,567 | +€329,466 | +38.2% |
| Fixed assets | 21/28 | €300 | €290,461 | +€290,161 | +96720.4% |
| Tangible fixed assets | 22/27 | €300 | €290,461 | +€290,161 | +96720.4% |
| Land and buildings | 22 | - | €290,461 | +€290,461 | |
| Furniture and vehicles | 24 | €300 | - | -€300 | |
| Current assets | 29/58 | €862,801 | €902,106 | +€39,305 | +4.6% |
| Amounts receivable within one year | 40/41 | €530,937 | €549,668 | +€18,731 | +3.5% |
| Trade receivables | 40 | €530,937 | €525,222 | -€5,715 | -1.1% |
| Other amounts receivable | 41 | - | €24,446 | +€24,446 | |
| Cash at bank and in hand | 54/58 | €331,864 | €352,438 | +€20,574 | +6.2% |
| Total equity and liabilities | 10/49 | €863,101 | €1,192,567 | +€329,466 | +38.2% |
| Equity | 10/15 | €21,675 | €429,599 | +€407,924 | +1882.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,215 | €409,139 | +€407,924 | +33582.0% |
| Amounts payable | 17/49 | €841,427 | €762,968 | -€78,458 | -9.3% |
| Amounts payable within one year | 42/48 | €841,427 | €762,968 | -€78,458 | -9.3% |
| Trade debts | 44 | - | €16,242 | +€16,242 | |
| Suppliers | 440/4 | - | €16,242 | +€16,242 | |
| Taxes, remuneration and social security | 45 | €171,345 | €99,317 | -€72,028 | -42.0% |
| Taxes | 450/3 | €171,345 | €99,317 | -€72,028 | -42.0% |
| Other amounts payable | 47/48 | €670,082 | €647,409 | -€22,673 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €360 | €53,741 | +€53,381 | +14828.2% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €607,956 | €595,246 | -€12,710 | -2.1% |
| Operating profit (loss) | 9901 | €607,211 | €541,117 | -€66,094 | -10.9% |
| Financial charges | 65/66B | €639 | €476 | -€164 | -25.6% |
| Recurring financial charges | 65 | €639 | €476 | -€164 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €606,572 | €540,641 | -€65,931 | -10.9% |
| Income taxes | 67/77 | €147,102 | €132,717 | -€14,385 | -9.8% |
| Profit (loss) for the period | 9904 | €459,470 | €407,924 | -€51,546 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €459,470 | €407,924 | -€51,546 | -11.2% |
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 9 October 2026 via checked.be.