HCHGREEN: 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.
HCHGREEN
Largest movements
- Tangible fixed assets +€184,079
up €184,079 (+42.7%), from €431,181 to €615,260
of which Plant, machinery and equipment: +€146,907
- Receivables within one year -€48,999
down €48,999 (-14.0%), from €349,241 to €300,241
of which Trade receivables: -€60,880
- Cash +€14,617
up €14,617 (+148.4%), from €9,852 to €24,470
mainly Depreciation (+€169,232) and Debts after one year (+€153,455)
- Deferred charges and accrued income +€10,767
up €10,767 (+882.3%), from €1,220 to €11,988
- Debts after one year +€153,455
up €153,455 (+44.9%), from €341,892 to €495,347
- Trade debts -€80,733
down €80,733 (-44.8%), from €180,028 to €99,295
- Current portion of long-term debt +€66,586
up €66,586 (+70.8%), from €94,060 to €160,645
- Reserves +€15,674
up €15,674 (+9.3%), from €169,429 to €185,102
- Gross operating margin +€106,612
up €106,612 (+56.1%), from €190,197 to €296,809
- Depreciation +€46,711
up €46,711 (+38.1%), from €122,522 to €169,232
- Staff costs +€36,654
up €36,654 (+94.0%), from €39,008 to €75,662
- Financial charges +€10,073
up €10,073 (+80.2%), from €12,553 to €22,626
- Other operating charges +€4,685
up €4,685 (+133.3%), from €3,514 to €8,199
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 | €792,368 | €952,832 | +€160,464 | +20.3% |
| Fixed assets | 21/28 | €432,054 | €616,133 | +€184,079 | +42.6% |
| Tangible fixed assets | 22/27 | €431,181 | €615,260 | +€184,079 | +42.7% |
| Plant, machinery and equipment | 23 | €133,695 | €280,602 | +€146,907 | +109.9% |
| Furniture and vehicles | 24 | €297,486 | €334,658 | +€37,172 | +12.5% |
| Financial fixed assets | 28 | €873 | €873 | = | 0.0% |
| Current assets | 29/58 | €360,313 | €336,699 | -€23,615 | -6.6% |
| Amounts receivable within one year | 40/41 | €349,241 | €300,241 | -€48,999 | -14.0% |
| Trade receivables | 40 | €306,035 | €245,155 | -€60,880 | -19.9% |
| Other amounts receivable | 41 | €43,205 | €55,086 | +€11,881 | +27.5% |
| Cash at bank and in hand | 54/58 | €9,852 | €24,470 | +€14,617 | +148.4% |
| Deferred charges and accrued income | 490/1 | €1,220 | €11,988 | +€10,767 | +882.3% |
| Total equity and liabilities | 10/49 | €792,368 | €952,832 | +€160,464 | +20.3% |
| Equity | 10/15 | €171,829 | €187,502 | +€15,674 | +9.1% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €169,429 | €185,102 | +€15,674 | +9.3% |
| Distributable reserves | 133 | €169,429 | €185,102 | +€15,674 | +9.3% |
| Amounts payable | 17/49 | €620,539 | €765,329 | +€144,791 | +23.3% |
| Amounts payable after more than one year | 17 | €341,892 | €495,347 | +€153,455 | +44.9% |
| Financial debts | 170/4 | €341,892 | €495,347 | +€153,455 | +44.9% |
| Amounts payable within one year | 42/48 | €278,647 | €269,982 | -€8,665 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €94,060 | €160,645 | +€66,586 | +70.8% |
| Trade debts | 44 | €180,028 | €99,295 | -€80,733 | -44.8% |
| Suppliers | 440/4 | €180,028 | €99,295 | -€80,733 | -44.8% |
| Taxes, remuneration and social security | 45 | €986 | €6,516 | +€5,530 | +560.6% |
| Remuneration and social security | 454/9 | €986 | €6,516 | +€5,530 | +560.6% |
| Other amounts payable | 47/48 | €3,573 | €3,526 | -€47 | -1.3% |
| Remuneration, social security and pensions | 62 | €39,008 | €75,662 | +€36,654 | +94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,522 | €169,232 | +€46,711 | +38.1% |
| Other operating charges | 640/8 | €3,514 | €8,199 | +€4,685 | +133.3% |
| Gross operating margin | 9900 | €190,197 | €296,809 | +€106,612 | +56.1% |
| Operating profit (loss) | 9901 | €25,153 | €43,715 | +€18,562 | +73.8% |
| Financial income | 75/76B | €2,759 | - | -€2,759 | |
| Recurring financial income | 75 | €838 | - | -€838 | |
| Non-recurring financial income | 76B | €1,921 | - | -€1,921 | |
| Financial charges | 65/66B | €12,553 | €22,626 | +€10,073 | +80.2% |
| Recurring financial charges | 65 | €12,553 | €22,626 | +€10,073 | +80.2% |
| Profit (loss) for the period before taxes | 9903 | €15,360 | €21,089 | +€5,730 | +37.3% |
| Income taxes | 67/77 | €3,979 | €5,416 | +€1,437 | +36.1% |
| Profit (loss) for the period | 9904 | €11,380 | €15,674 | +€4,293 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,380 | €15,674 | +€4,293 | +37.7% |
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 5 October 2026 via checked.be.