HC TRADING: 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 TRADING
Largest movements
- Receivables within one year -€44,040
down €44,040 (-51.8%), from €85,031 to €40,991
of which Other amounts receivable: -€37,965
- Tangible fixed assets -€13,827
down €13,827 (-17.4%), from €79,245 to €65,418
of which Furniture and vehicles: -€7,441
- Cash +€9,112
up €9,112 (+24.3%), from €37,556 to €46,668
mainly Receivables within one year (+€44,040) and Depreciation (+€17,277)
- Profit (loss) carried forward -€41,517
down €41,517 (-48.3%), from €85,912 to €44,396
- Trade debts -€7,587
down €7,587 (-44.6%), from €16,998 to €9,412
- Advances received +€5,995
new in 2025: €5,995
- Other debts -€5,646
down €5,646 (-9.6%), from €58,921 to €53,274
- Gross operating margin -€33,948
down €33,948, from €24,593 to -€9,355
- Taxes -€14,849
down €14,849 (-64.0%), from €23,207 to €8,359
- Depreciation -€8,686
down €8,686 (-33.5%), from €25,962 to €17,277
- Financial charges -€7,312
down €7,312 (-96.7%), from €7,560 to €248
of which Non-recurring financial charges: -€7,260
- Other operating charges -€6,693
down €6,693 (-49.6%), from €13,501 to €6,808
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 | €211,831 | €163,077 | -€48,754 | -23.0% |
| Fixed assets | 21/28 | €89,245 | €75,418 | -€13,827 | -15.5% |
| Tangible fixed assets | 22/27 | €79,245 | €65,418 | -€13,827 | -17.4% |
| Plant, machinery and equipment | 23 | €1,534 | €690 | -€844 | -55.0% |
| Furniture and vehicles | 24 | €11,441 | €4,000 | -€7,441 | -65.0% |
| Other tangible fixed assets | 26 | €66,270 | €60,728 | -€5,542 | -8.4% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €122,587 | €87,659 | -€34,928 | -28.5% |
| Amounts receivable within one year | 40/41 | €85,031 | €40,991 | -€44,040 | -51.8% |
| Trade receivables | 40 | €17,510 | €11,435 | -€6,075 | -34.7% |
| Other amounts receivable | 41 | €67,521 | €29,556 | -€37,965 | -56.2% |
| Cash at bank and in hand | 54/58 | €37,556 | €46,668 | +€9,112 | +24.3% |
| Total equity and liabilities | 10/49 | €211,831 | €163,077 | -€48,754 | -23.0% |
| Equity | 10/15 | €135,912 | €94,396 | -€41,517 | -30.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,912 | €44,396 | -€41,517 | -48.3% |
| Amounts payable | 17/49 | €75,919 | €68,681 | -€7,238 | -9.5% |
| Amounts payable within one year | 42/48 | €75,919 | €68,681 | -€7,238 | -9.5% |
| Trade debts | 44 | €16,998 | €9,412 | -€7,587 | -44.6% |
| Suppliers | 440/4 | €16,998 | €9,412 | -€7,587 | -44.6% |
| Advances received on contracts in progress | 46 | - | €5,995 | +€5,995 | |
| Other amounts payable | 47/48 | €58,921 | €53,274 | -€5,646 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,962 | €17,277 | -€8,686 | -33.5% |
| Other operating charges | 640/8 | €13,501 | €6,808 | -€6,693 | -49.6% |
| Gross operating margin | 9900 | €24,593 | -€9,355 | -€33,948 | |
| Operating profit (loss) | 9901 | -€14,870 | -€33,440 | -€18,570 | -125% |
| Financial income | 75/76B | - | €530 | +€530 | |
| Recurring financial income | 75 | - | €530 | +€530 | |
| Financial charges | 65/66B | €7,560 | €248 | -€7,312 | -96.7% |
| Recurring financial charges | 65 | €300 | €248 | -€52 | -17.4% |
| Non-recurring financial charges | 66B | €7,260 | - | -€7,260 | |
| Profit (loss) for the period before taxes | 9903 | -€22,430 | -€33,158 | -€10,728 | -47.8% |
| Income taxes | 67/77 | €23,207 | €8,359 | -€14,849 | -64.0% |
| Profit (loss) for the period | 9904 | -€45,637 | -€41,517 | +€4,121 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,637 | -€41,517 | +€4,121 | +9.0% |
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 15 October 2026 via checked.be.