HCMVISION: 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.
HCMVISION
Largest movements
- Tangible fixed assets -€52,578
down €52,578 (-10.5%), from €501,675 to €449,096
- Receivables within one year +€18,452
up €18,452 (+10.2%), from €181,202 to €199,654
of which Other amounts receivable: +€103,217
- Deferred charges and accrued income -€7,964
down €7,964 (-26.8%), from €29,683 to €21,720
- Profit (loss) carried forward +€122,618
up €122,618 (+79.3%), from -€154,681 to -€32,062
- Debts after one year -€69,901
down €69,901 (-15.0%), from €467,289 to €397,388
- Trade debts -€40,191
down €40,191 (-68.6%), from €58,609 to €18,418
- Other debts -€31,155
down €31,155 (-29.2%), from €106,532 to €75,377
- Tax, wage and social debts -€12,869
down €12,869 (-26.3%), from €49,001 to €36,132
of which Remuneration and social security: -€8,138
- Staff costs -€72,399
down €72,399 (-44.3%), from €163,302 to €90,903
- Other operating charges +€13,467
up €13,467 (+154.6%), from €8,711 to €22,178
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 | €717,034 | €678,096 | -€38,938 | -5.4% |
| Fixed assets | 21/28 | €501,675 | €449,096 | -€52,578 | -10.5% |
| Tangible fixed assets | 22/27 | €501,675 | €449,096 | -€52,578 | -10.5% |
| Land and buildings | 22 | €284,333 | €275,593 | -€8,740 | -3.1% |
| Plant, machinery and equipment | 23 | €126,654 | €108,117 | -€18,537 | -14.6% |
| Furniture and vehicles | 24 | €85,272 | €62,671 | -€22,601 | -26.5% |
| Other tangible fixed assets | 26 | €5,416 | €2,715 | -€2,701 | -49.9% |
| Current assets | 29/58 | €215,360 | €229,000 | +€13,640 | +6.3% |
| Amounts receivable within one year | 40/41 | €181,202 | €199,654 | +€18,452 | +10.2% |
| Trade receivables | 40 | €92,446 | €7,681 | -€84,766 | -91.7% |
| Other amounts receivable | 41 | €88,756 | €191,974 | +€103,217 | +116.3% |
| Cash at bank and in hand | 54/58 | €4,474 | €7,626 | +€3,152 | +70.5% |
| Deferred charges and accrued income | 490/1 | €29,683 | €21,720 | -€7,964 | -26.8% |
| Total equity and liabilities | 10/49 | €717,034 | €678,096 | -€38,938 | -5.4% |
| Equity | 10/15 | -€44,215 | €78,404 | +€122,618 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €104,266 | €104,266 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €96,766 | €96,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,681 | -€32,062 | +€122,618 | +79.3% |
| Amounts payable | 17/49 | €761,249 | €599,693 | -€161,556 | -21.2% |
| Amounts payable after more than one year | 17 | €467,289 | €397,388 | -€69,901 | -15.0% |
| Financial debts | 170/4 | €467,289 | €397,388 | -€69,901 | -15.0% |
| Amounts payable within one year | 42/48 | €293,960 | €202,305 | -€91,655 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €59,442 | €61,568 | +€2,125 | +3.6% |
| Financial debts | 43 | €20,375 | €10,810 | -€9,565 | -46.9% |
| Credit institutions | 430/8 | €12,042 | €2,477 | -€9,565 | -79.4% |
| Other loans | 439 | €8,333 | €8,333 | = | 0.0% |
| Trade debts | 44 | €58,609 | €18,418 | -€40,191 | -68.6% |
| Suppliers | 440/4 | €58,609 | €18,418 | -€40,191 | -68.6% |
| Taxes, remuneration and social security | 45 | €49,001 | €36,132 | -€12,869 | -26.3% |
| Taxes | 450/3 | €31,926 | €27,194 | -€4,732 | -14.8% |
| Remuneration and social security | 454/9 | €17,076 | €8,938 | -€8,138 | -47.7% |
| Other amounts payable | 47/48 | €106,532 | €75,377 | -€31,155 | -29.2% |
| Non-recurring operating income | 76A | - | €10,412 | +€10,412 | |
| Remuneration, social security and pensions | 62 | €163,302 | €90,903 | -€72,399 | -44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,878 | €53,605 | +€727 | +1.4% |
| Other operating charges | 640/8 | €8,711 | €22,178 | +€13,467 | +154.6% |
| Non-recurring operating charges | 66A | - | €680 | +€680 | |
| Gross operating margin | 9900 | €306,022 | €308,886 | +€2,864 | +0.9% |
| Operating profit (loss) | 9901 | €81,131 | €141,519 | +€60,389 | +74.4% |
| Financial income | 75/76B | €5,735 | €6,759 | +€1,024 | +17.9% |
| Recurring financial income | 75 | €5,735 | €6,759 | +€1,024 | +17.9% |
| Financial charges | 65/66B | €27,429 | €25,451 | -€1,978 | -7.2% |
| Recurring financial charges | 65 | €27,381 | €25,451 | -€1,929 | -7.0% |
| Non-recurring financial charges | 66B | €48 | - | -€48 | |
| Profit (loss) for the period before taxes | 9903 | €59,437 | €122,827 | +€63,390 | +106.7% |
| Income taxes | 67/77 | €924 | €208 | -€716 | -77.4% |
| Profit (loss) for the period | 9904 | €58,513 | €122,618 | +€64,106 | +109.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,513 | €122,618 | +€64,106 | +109.6% |
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 10 October 2026 via checked.be.