HC SPA: 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 SPA
Largest movements
- Receivables within one year +€12,170
up €12,170 (+84512.8%), from €14 to €12,184
of which Trade receivables: +€12,170
- Tangible fixed assets -€3,628
down €3,628 (-11.4%), from €31,903 to €28,275
of which Other tangible fixed assets: -€3,343
- Stocks and contracts -€1,687
down €1,687 (-18.2%), from €9,246 to €7,560
- Trade debts +€14,755
up €14,755 (+246.1%), from €5,996 to €20,751
- Profit (loss) carried forward -€5,774
down €5,774 (-40.0%), from €14,445 to €8,672
- Debts after one year -€2,958
down €2,958 (-36.8%), from €8,045 to €5,087
- Tax, wage and social debts +€2,798
up €2,798 (+150.0%), from €1,865 to €4,663
- Accrued charges and deferred income -€1,500
down €1,500 (-21.6%), from €6,957 to €5,457
- Gross operating margin -€11,213
down €11,213 (-55.5%), from €20,190 to €8,977
- Depreciation -€9,528
down €9,528 (-43.0%), from €22,167 to €12,638
- Financial income -€990
down €990 (-99.6%), from €994 to €4
- Other operating charges -€817
down €817 (-41.0%), from €1,990 to €1,173
- Financial charges -€291
down €291 (-23.6%), from €1,234 to €943
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 | €57,947 | €65,224 | +€7,277 | +12.6% |
| Fixed assets | 21/28 | €36,478 | €32,950 | -€3,528 | -9.7% |
| Tangible fixed assets | 22/27 | €31,903 | €28,275 | -€3,628 | -11.4% |
| Plant, machinery and equipment | 23 | €7,776 | €5,267 | -€2,509 | -32.3% |
| Furniture and vehicles | 24 | €7,252 | €9,475 | +€2,223 | +30.7% |
| Other tangible fixed assets | 26 | €16,875 | €13,533 | -€3,343 | -19.8% |
| Financial fixed assets | 28 | €4,575 | €4,675 | +€100 | +2.2% |
| Current assets | 29/58 | €21,468 | €32,274 | +€10,805 | +50.3% |
| Stocks and contracts in progress | 3 | €9,246 | €7,560 | -€1,687 | -18.2% |
| Stocks | 30/36 | €9,246 | €7,560 | -€1,687 | -18.2% |
| Amounts receivable within one year | 40/41 | €14 | €12,184 | +€12,170 | +84512.8% |
| Trade receivables | 40 | - | €12,170 | +€12,170 | |
| Other amounts receivable | 41 | €14 | €14 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,030 | €12,348 | +€318 | +2.6% |
| Deferred charges and accrued income | 490/1 | €178 | €182 | +€4 | +2.2% |
| Total equity and liabilities | 10/49 | €57,947 | €65,224 | +€7,277 | +12.6% |
| Equity | 10/15 | €22,505 | €16,732 | -€5,774 | -25.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,445 | €8,672 | -€5,774 | -40.0% |
| Amounts payable | 17/49 | €35,441 | €48,492 | +€13,051 | +36.8% |
| Amounts payable after more than one year | 17 | €8,045 | €5,087 | -€2,958 | -36.8% |
| Financial debts | 170/4 | €8,045 | €5,087 | -€2,958 | -36.8% |
| Amounts payable within one year | 42/48 | €20,439 | €37,948 | +€17,509 | +85.7% |
| Current portion of amounts payable after more than one year | 42 | €2,859 | €2,958 | +€100 | +3.5% |
| Trade debts | 44 | €5,996 | €20,751 | +€14,755 | +246.1% |
| Suppliers | 440/4 | €5,996 | €20,751 | +€14,755 | +246.1% |
| Taxes, remuneration and social security | 45 | €1,865 | €4,663 | +€2,798 | +150.0% |
| Taxes | 450/3 | €1,865 | €4,663 | +€2,798 | +150.0% |
| Other amounts payable | 47/48 | €9,720 | €9,576 | -€144 | -1.5% |
| Accrued charges and deferred income | 492/3 | €6,957 | €5,457 | -€1,500 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,167 | €12,638 | -€9,528 | -43.0% |
| Other operating charges | 640/8 | €1,990 | €1,173 | -€817 | -41.0% |
| Gross operating margin | 9900 | €20,190 | €8,977 | -€11,213 | -55.5% |
| Operating profit (loss) | 9901 | -€3,967 | -€4,835 | -€868 | -21.9% |
| Financial income | 75/76B | €994 | €4 | -€990 | -99.6% |
| Recurring financial income | 75 | €994 | €4 | -€990 | -99.6% |
| Financial charges | 65/66B | €1,234 | €943 | -€291 | -23.6% |
| Recurring financial charges | 65 | €1,234 | €943 | -€291 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,207 | -€5,774 | -€1,567 | -37.2% |
| Profit (loss) for the period | 9904 | -€4,207 | -€5,774 | -€1,567 | -37.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,207 | -€5,774 | -€1,567 | -37.2% |
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 9 October 2026 via checked.be.