HCA: what changed
Two fiscal 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.
HCA
Largest movements
- Cash +€35,483
up €35,483 (+28.7%), from €123,454 to €158,937
mainly Net result for the year (+€19,082) and Accrued charges and deferred income (+€13,650)
- Stocks and contracts +€4,434
new in 2025: €4,434
- Receivables within one year -€3,711
down €3,711 (-22.9%), from €16,233 to €12,522
- Reserves +€19,082
up €19,082 (+24.7%), from €77,131 to €96,214
of which Distributable reserves: +€19,082
- Trade debts -€13,749
down €13,749 (-26.1%), from €52,748 to €39,000
- Accrued charges and deferred income +€13,650
new in 2025: €13,650
- Tax, wage and social debts +€12,381
up €12,381 (+102.1%), from €12,126 to €24,506
of which Taxes: +€11,281
- Other debts +€5,767
new in 2025: €5,767
- Gross operating margin -€25,872
down €25,872 (-34.7%), from €74,618 to €48,746
- Other operating charges +€10,664
up €10,664 (+250.3%), from €4,260 to €14,924
- Taxes -€9,393
down €9,393 (-49.7%), from €18,883 to €9,489
- Write-downs -€4,339
no longer reported in 2025 (was €4,339)
- Depreciation +€2,373
up €2,373 (+176.0%), from €1,349 to €3,722
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 | €148,205 | €185,337 | +€37,132 | +25.1% |
| Fixed assets | 21/28 | €7,403 | €8,256 | +€853 | +11.5% |
| Tangible fixed assets | 22/27 | €6,153 | €6,906 | +€753 | +12.2% |
| Land and buildings | 22 | €5,336 | €6,745 | +€1,409 | +26.4% |
| Furniture and vehicles | 24 | €817 | €161 | -€656 | -80.3% |
| Financial fixed assets | 28 | €1,250 | €1,350 | +€100 | +8.0% |
| Current assets | 29/58 | €140,802 | €177,081 | +€36,279 | +25.8% |
| Stocks and contracts in progress | 3 | - | €4,434 | +€4,434 | |
| Stocks | 30/36 | - | €4,434 | +€4,434 | |
| Amounts receivable within one year | 40/41 | €16,233 | €12,522 | -€3,711 | -22.9% |
| Trade receivables | 40 | €16,233 | €12,522 | -€3,711 | -22.9% |
| Cash at bank and in hand | 54/58 | €123,454 | €158,937 | +€35,483 | +28.7% |
| Deferred charges and accrued income | 490/1 | €1,116 | €1,189 | +€73 | +6.5% |
| Total equity and liabilities | 10/49 | €148,205 | €185,337 | +€37,132 | +25.1% |
| Equity | 10/15 | €83,331 | €102,414 | +€19,082 | +22.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,131 | €96,214 | +€19,082 | +24.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €75,271 | €94,354 | +€19,082 | +25.4% |
| Amounts payable | 17/49 | €64,874 | €82,923 | +€18,050 | +27.8% |
| Amounts payable within one year | 42/48 | €64,874 | €69,273 | +€4,400 | +6.8% |
| Trade debts | 44 | €52,748 | €39,000 | -€13,749 | -26.1% |
| Suppliers | 440/4 | €52,748 | €39,000 | -€13,749 | -26.1% |
| Taxes, remuneration and social security | 45 | €12,126 | €24,506 | +€12,381 | +102.1% |
| Taxes | 450/3 | €9,899 | €21,180 | +€11,281 | +114.0% |
| Remuneration and social security | 454/9 | €2,227 | €3,326 | +€1,100 | +49.4% |
| Other amounts payable | 47/48 | - | €5,767 | +€5,767 | |
| Accrued charges and deferred income | 492/3 | - | €13,650 | +€13,650 | |
| Remuneration, social security and pensions | 62 | €2,388 | €396 | -€1,992 | -83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,349 | €3,722 | +€2,373 | +176.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,339 | - | -€4,339 | |
| Other operating charges | 640/8 | €4,260 | €14,924 | +€10,664 | +250.3% |
| Gross operating margin | 9900 | €74,618 | €48,746 | -€25,872 | -34.7% |
| Operating profit (loss) | 9901 | €62,283 | €29,704 | -€32,579 | -52.3% |
| Financial income | 75/76B | €152 | €155 | +€3 | +2.0% |
| Recurring financial income | 75 | €152 | €155 | +€3 | +2.0% |
| Financial charges | 65/66B | €1,392 | €1,287 | -€105 | -7.6% |
| Recurring financial charges | 65 | €1,392 | €1,287 | -€105 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €61,042 | €28,572 | -€32,471 | -53.2% |
| Income taxes | 67/77 | €18,883 | €9,489 | -€9,393 | -49.7% |
| Profit (loss) for the period | 9904 | €42,160 | €19,082 | -€23,077 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,160 | €19,082 | -€23,077 | -54.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.