HC MANAGEMENT: 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 MANAGEMENT
Largest movements
- Financial fixed assets -€29,928
down €29,928 (-74.8%), from €40,000 to €10,072
- Cash +€11,897
up €11,897, from €0 to €11,897
mainly Investment in fixed assets (net) (+€28,523) and Depreciation (+€6,828)
- Tangible fixed assets -€5,423
down €5,423 (-21.4%), from €25,319 to €19,895
of which Furniture and vehicles: -€5,616
- Receivables within one year +€2,864
up €2,864 (+81.0%), from €3,537 to €6,401
of which Trade receivables: +€2,940
- Profit (loss) carried forward -€15,183
new in 2024: -€15,183
- Tax, wage and social debts +€6,681
up €6,681 (+275%), from €2,434 to €9,115
- Other debts -€6,444
down €6,444 (-64.3%), from €10,028 to €3,584
- Debts after one year -€3,662
down €3,662 (-33.2%), from €11,018 to €7,356
- Short-term financial debts -€2,831
down €2,831 (-100%), from €2,831 to €0
- Financial charges +€30,164
up €30,164 (+3,807%), from €792 to €30,956
of which Non-recurring financial charges: +€29,928
- Gross operating margin +€17,774
up €17,774 (+150%), from €11,856 to €29,630
- Depreciation +€5,432
up €5,432 (+389%), from €1,396 to €6,828
- Taxes +€4,204
up €4,204 (+185%), from €2,268 to €6,471
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,396 | €48,560 | -€20,836 | -30.0% |
| Fixed assets | 21/28 | €65,319 | €29,967 | -€35,351 | -54.1% |
| Tangible fixed assets | 22/27 | €25,319 | €19,895 | -€5,423 | -21.4% |
| Plant, machinery and equipment | 23 | €2,789 | €2,982 | +€193 | +6.9% |
| Furniture and vehicles | 24 | €22,530 | €16,914 | -€5,616 | -24.9% |
| Financial fixed assets | 28 | €40,000 | €10,072 | -€29,928 | -74.8% |
| Current assets | 29/58 | €4,078 | €18,593 | +€14,515 | +356% |
| Amounts receivable within one year | 40/41 | €3,537 | €6,401 | +€2,864 | +81.0% |
| Trade receivables | 40 | €3,462 | €6,401 | +€2,940 | +84.9% |
| Other amounts receivable | 41 | €76 | €0 | -€76 | -100% |
| Cash at bank and in hand | 54/58 | €0 | €11,897 | +€11,897 | |
| Deferred charges and accrued income | 490/1 | €540 | €294 | -€246 | -45.5% |
| Total equity and liabilities | 10/49 | €69,396 | €48,560 | -€20,836 | -30.0% |
| Equity | 10/15 | €38,413 | €23,230 | -€15,183 | -39.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €36,413 | €36,413 | = | 0.0% |
| Distributable reserves | 133 | €36,413 | €36,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€15,183 | -€15,183 | |
| Amounts payable | 17/49 | €30,983 | €25,330 | -€5,653 | -18.2% |
| Amounts payable after more than one year | 17 | €11,018 | €7,356 | -€3,662 | -33.2% |
| Financial debts | 170/4 | €11,018 | €7,356 | -€3,662 | -33.2% |
| Amounts payable within one year | 42/48 | €19,966 | €17,975 | -€1,991 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €3,432 | €3,662 | +€230 | +6.7% |
| Financial debts | 43 | €2,831 | €0 | -€2,831 | -100% |
| Credit institutions | 430/8 | €2,831 | €0 | -€2,831 | -100% |
| Trade debts | 44 | €1,242 | €1,615 | +€373 | +30.0% |
| Suppliers | 440/4 | €1,242 | €1,615 | +€373 | +30.0% |
| Taxes, remuneration and social security | 45 | €2,434 | €9,115 | +€6,681 | +275% |
| Taxes | 450/3 | €2,434 | €9,115 | +€6,681 | +275% |
| Other amounts payable | 47/48 | €10,028 | €3,584 | -€6,444 | -64.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,396 | €6,828 | +€5,432 | +389% |
| Other operating charges | 640/8 | €745 | €566 | -€179 | -24.0% |
| Gross operating margin | 9900 | €11,856 | €29,630 | +€17,774 | +150% |
| Operating profit (loss) | 9901 | €9,715 | €22,236 | +€12,520 | +129% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €792 | €30,956 | +€30,164 | +3,807% |
| Recurring financial charges | 65 | €792 | €1,028 | +€236 | +29.7% |
| Non-recurring financial charges | 66B | - | €29,928 | +€29,928 | |
| Profit (loss) for the period before taxes | 9903 | €8,923 | -€8,712 | -€17,635 | |
| Income taxes | 67/77 | €2,268 | €6,471 | +€4,204 | +185% |
| Profit (loss) for the period | 9904 | €6,655 | -€15,183 | -€21,839 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,655 | -€15,183 | -€21,839 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.