HCP: 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.
HCP
Largest movements
- Receivables within one year -€119,762
down €119,762 (-85.5%), from €140,081 to €20,319
- Cash +€44,734
up €44,734 (+24.2%), from €184,817 to €229,551
mainly Net result for the year (+€127,877) and Receivables within one year (+€119,762)
- Tangible fixed assets -€40,653
down €40,653 (-10.4%), from €390,540 to €349,887
of which Land and buildings: -€34,255
- Other debts -€232,288
down €232,288 (-64.0%), from €362,997 to €130,709
- Reserves +€127,877
up €127,877 (+5.7%), from €2.2m to €2.4m
- Debts after one year -€47,148
down €47,148 (-38.5%), from €122,511 to €75,363
- Tax, wage and social debts +€40,821
up €40,821 (+231%), from €17,634 to €58,455
- Gross operating margin +€199,115
up €199,115 (+488%), from €40,821 to €239,936
- Financial income -€137,174
down €137,174 (-93.1%), from €147,403 to €10,229
- Taxes +€38,460
up €38,460 (+346%), from €11,121 to €49,581
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 | €2,815,539 | €2,710,511 | -€105,028 | -3.7% |
| Fixed assets | 21/28 | €2,485,070 | €2,444,417 | -€40,653 | -1.6% |
| Tangible fixed assets | 22/27 | €390,540 | €349,887 | -€40,653 | -10.4% |
| Land and buildings | 22 | €305,863 | €271,608 | -€34,255 | -11.2% |
| Furniture and vehicles | 24 | €84,677 | €78,279 | -€6,398 | -7.6% |
| Financial fixed assets | 28 | €2,094,530 | €2,094,530 | = | 0.0% |
| Current assets | 29/58 | €330,469 | €266,094 | -€64,375 | -19.5% |
| Amounts receivable within one year | 40/41 | €140,081 | €20,319 | -€119,762 | -85.5% |
| Other amounts receivable | 41 | €140,081 | €20,319 | -€119,762 | -85.5% |
| Cash at bank and in hand | 54/58 | €184,817 | €229,551 | +€44,734 | +24.2% |
| Deferred charges and accrued income | 490/1 | €5,571 | €16,224 | +€10,653 | +191% |
| Total equity and liabilities | 10/49 | €2,815,539 | €2,710,511 | -€105,028 | -3.7% |
| Equity | 10/15 | €2,260,722 | €2,388,599 | +€127,877 | +5.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,248,322 | €2,376,199 | +€127,877 | +5.7% |
| Distributable reserves | 133 | €2,248,322 | €2,376,199 | +€127,877 | +5.7% |
| Amounts payable | 17/49 | €554,817 | €321,912 | -€232,905 | -42.0% |
| Amounts payable after more than one year | 17 | €122,511 | €75,363 | -€47,148 | -38.5% |
| Financial debts | 170/4 | €122,511 | €75,363 | -€47,148 | -38.5% |
| Amounts payable within one year | 42/48 | €432,306 | €246,549 | -€185,757 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €45,195 | €47,147 | +€1,952 | +4.3% |
| Trade debts | 44 | €6,480 | €10,238 | +€3,758 | +58.0% |
| Suppliers | 440/4 | €6,480 | €10,238 | +€3,758 | +58.0% |
| Taxes, remuneration and social security | 45 | €17,634 | €58,455 | +€40,821 | +231% |
| Taxes | 450/3 | €17,634 | €58,455 | +€40,821 | +231% |
| Other amounts payable | 47/48 | €362,997 | €130,709 | -€232,288 | -64.0% |
| Non-recurring operating income | 76A | €1,530 | - | -€1,530 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,480 | €60,479 | -€1,001 | -1.6% |
| Other operating charges | 640/8 | €5,026 | €5,649 | +€623 | +12.4% |
| Non-recurring operating charges | 66A | €1,187 | - | -€1,187 | |
| Gross operating margin | 9900 | €40,821 | €239,936 | +€199,115 | +488% |
| Operating profit (loss) | 9901 | -€26,872 | €173,808 | +€200,680 | |
| Financial income | 75/76B | €147,403 | €10,229 | -€137,174 | -93.1% |
| Recurring financial income | 75 | €147,403 | €10,229 | -€137,174 | -93.1% |
| Financial charges | 65/66B | €8,197 | €6,579 | -€1,618 | -19.7% |
| Recurring financial charges | 65 | €8,197 | €6,579 | -€1,618 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €112,334 | €177,458 | +€65,124 | +58.0% |
| Income taxes | 67/77 | €11,121 | €49,581 | +€38,460 | +346% |
| Profit (loss) for the period | 9904 | €101,213 | €127,877 | +€26,664 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €101,213 | €127,877 | +€26,664 | +26.3% |
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 31 October 2026 via checked.be.