HCO-CONSULT: 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.
What changed
HCO-CONSULT
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€77,696
2024 · €67,579+€10,117
Equity
€590,475
2024 · €541,780+€48,696
Cash
€12,684
2024 · €7,243+€5,441
Balance sheet total
€766,273
2024 · €793,593-€27,320
Largest movements
Assets
- Tangible fixed assets -€32,212
down €32,212 (-4.2%), from €759,052 to €726,840
of which Land and buildings: -€32,096
Equity and liabilities
- Debts after one year -€50,626
down €50,626 (-51.8%), from €97,797 to €47,170
- Reserves +€48,600
up €48,600 (+21.7%), from €224,206 to €272,806
of which Distributable reserves: +€48,600
- Other debts -€20,666
down €20,666 (-27.5%), from €75,198 to €54,532
Income statement
- Gross operating margin +€12,941
up €12,941 (+10.3%), from €125,676 to €138,617
- Taxes +€3,398
up €3,398 (+21.4%), from €15,845 to €19,243
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.
Result 2024
€67,579
Gross operating margin
+€12,941
Depreciation
-€661
Other operating charges
+€788
Financial income
-€34
Financial charges
+€481
Taxes
-€3,398
Result 2025
€77,696
raises the resultlowers the result
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.
From operations
+€93,982
Investment
-€1,019
Financing
-€87,522
Cash 2024
€7,243
From operations (derived)
+€93,982
Net result for the year
+€77,696
Depreciation
+€33,231
Receivables within one year
+€341
Deferred charges and accrued income
+€208
Trade debts
+€871
Tax, wage and social debts
+€1,785
Other debts
-€20,666
Accrued charges and deferred income
+€516
Investment (derived)
-€1,019
Investment in fixed assets (net)
-€1,019
Financing
-€87,522
Debts after one year
-€50,626
Current portion of long-term debt
-€7,896
Contributions, distributions and other
-€29,000
Cash 2025
€12,684
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €793,593 | €766,273 | -€27,320 | -3.4% |
| Fixed assets | 21/28 | €759,052 | €726,840 | -€32,212 | -4.2% |
| Tangible fixed assets | 22/27 | €759,052 | €726,840 | -€32,212 | -4.2% |
| Land and buildings | 22 | €755,747 | €723,651 | -€32,096 | -4.2% |
| Plant, machinery and equipment | 23 | €1,982 | €2,333 | +€351 | +17.7% |
| Furniture and vehicles | 24 | €1,323 | €857 | -€467 | -35.3% |
| Current assets | 29/58 | €34,540 | €39,433 | +€4,892 | +14.2% |
| Amounts receivable within one year | 40/41 | €25,604 | €25,263 | -€341 | -1.3% |
| Trade receivables | 40 | €20,704 | €22,027 | +€1,323 | +6.4% |
| Other amounts receivable | 41 | €4,900 | €3,236 | -€1,664 | -34.0% |
| Cash at bank and in hand | 54/58 | €7,243 | €12,684 | +€5,441 | +75.1% |
| Deferred charges and accrued income | 490/1 | €1,693 | €1,485 | -€208 | -12.3% |
| Total equity and liabilities | 10/49 | €793,593 | €766,273 | -€27,320 | -3.4% |
| Equity | 10/15 | €541,780 | €590,475 | +€48,696 | +9.0% |
| Contributions | 10/11 | €281,000 | €281,000 | = | 0.0% |
| Reserves | 13 | €224,206 | €272,806 | +€48,600 | +21.7% |
| Tax-exempt reserves | 132 | €9,106 | €9,106 | = | 0.0% |
| Distributable reserves | 133 | €215,100 | €263,700 | +€48,600 | +22.6% |
| Profit (loss) carried forward | 14 | €36,574 | €36,670 | +€96 | +0.3% |
| Amounts payable | 17/49 | €251,813 | €175,797 | -€76,016 | -30.2% |
| Amounts payable after more than one year | 17 | €97,797 | €47,170 | -€50,626 | -51.8% |
| Financial debts | 170/4 | €97,797 | €47,170 | -€50,626 | -51.8% |
| Amounts payable within one year | 42/48 | €151,157 | €125,252 | -€25,905 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €58,522 | €50,626 | -€7,896 | -13.5% |
| Trade debts | 44 | €946 | €1,818 | +€871 | +92.1% |
| Suppliers | 440/4 | €946 | €1,818 | +€871 | +92.1% |
| Taxes, remuneration and social security | 45 | €16,490 | €18,275 | +€1,785 | +10.8% |
| Taxes | 450/3 | €16,490 | €18,275 | +€1,785 | +10.8% |
| Other amounts payable | 47/48 | €75,198 | €54,532 | -€20,666 | -27.5% |
| Accrued charges and deferred income | 492/3 | €2,859 | €3,375 | +€516 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,570 | €33,231 | +€661 | +2.0% |
| Other operating charges | 640/8 | €3,496 | €2,708 | -€788 | -22.6% |
| Gross operating margin | 9900 | €125,676 | €138,617 | +€12,941 | +10.3% |
| Operating profit (loss) | 9901 | €89,610 | €102,678 | +€13,068 | +14.6% |
| Financial income | 75/76B | €35 | €1 | -€34 | -98.3% |
| Recurring financial income | 75 | €35 | €1 | -€34 | -98.3% |
| Financial charges | 65/66B | €6,221 | €5,740 | -€481 | -7.7% |
| Recurring financial charges | 65 | €6,221 | €5,740 | -€481 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €83,424 | €96,939 | +€13,515 | +16.2% |
| Income taxes | 67/77 | €15,845 | €19,243 | +€3,398 | +21.4% |
| Profit (loss) for the period | 9904 | €67,579 | €77,696 | +€10,117 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,579 | €77,696 | +€10,117 | +15.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.