HCS: 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.
HCS
Largest movements
- Receivables within one year -€9,672
down €9,672 (-7.0%), from €138,004 to €128,332
of which Other amounts receivable: -€27,485
- Cash -€7,462
down €7,462 (-13.5%), from €55,169 to €47,707
mainly Trade debts (-€20,771) and Accrued charges and deferred income (-€650)
- Trade debts -€20,771
down €20,771 (-25.6%), from €81,020 to €60,250
- Profit (loss) carried forward +€2,008
up €2,008 (+65.8%), from -€3,052 to -€1,044
- Gross operating margin -€1,960
down €1,960 (-6.3%), from €31,277 to €29,317
- Financial charges -€1,818
down €1,818 (-37.6%), from €4,829 to €3,012
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 | €193,172 | €176,038 | -€17,134 | -8.9% |
| Current assets | 29/58 | €193,172 | €176,038 | -€17,134 | -8.9% |
| Amounts receivable within one year | 40/41 | €138,004 | €128,332 | -€9,672 | -7.0% |
| Trade receivables | 40 | €108,775 | €126,588 | +€17,813 | +16.4% |
| Other amounts receivable | 41 | €29,228 | €1,744 | -€27,485 | -94.0% |
| Cash at bank and in hand | 54/58 | €55,169 | €47,707 | -€7,462 | -13.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €193,172 | €176,038 | -€17,134 | -8.9% |
| Equity | 10/15 | €17,408 | €19,416 | +€2,008 | +11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,052 | -€1,044 | +€2,008 | +65.8% |
| Amounts payable | 17/49 | €175,764 | €156,622 | -€19,142 | -10.9% |
| Amounts payable after more than one year | 17 | €88,427 | €90,000 | +€1,573 | +1.8% |
| Financial debts | 170/4 | €88,427 | €90,000 | +€1,573 | +1.8% |
| Amounts payable within one year | 42/48 | €82,187 | €62,122 | -€20,064 | -24.4% |
| Financial debts | 43 | €305 | €259 | -€46 | -15.1% |
| Other loans | 439 | €305 | €259 | -€46 | -15.1% |
| Trade debts | 44 | €81,020 | €60,250 | -€20,771 | -25.6% |
| Suppliers | 440/4 | €81,020 | €60,250 | -€20,771 | -25.6% |
| Taxes, remuneration and social security | 45 | €862 | €1,614 | +€752 | +87.3% |
| Taxes | 450/3 | €862 | €1,614 | +€752 | +87.3% |
| Accrued charges and deferred income | 492/3 | €5,150 | €4,500 | -€650 | -12.6% |
| Other operating charges | 640/8 | €24,505 | €24,520 | +€14 | +0.1% |
| Gross operating margin | 9900 | €31,277 | €29,317 | -€1,960 | -6.3% |
| Operating profit (loss) | 9901 | €6,772 | €4,797 | -€1,975 | -29.2% |
| Financial income | 75/76B | €1,220 | €974 | -€245 | -20.1% |
| Recurring financial income | 75 | €1,220 | €974 | -€245 | -20.1% |
| Financial charges | 65/66B | €4,829 | €3,012 | -€1,818 | -37.6% |
| Recurring financial charges | 65 | €4,829 | €3,012 | -€1,818 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €3,163 | €2,760 | -€402 | -12.7% |
| Income taxes | 67/77 | €862 | €752 | -€110 | -12.7% |
| Profit (loss) for the period | 9904 | €2,301 | €2,008 | -€293 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,301 | €2,008 | -€293 | -12.7% |
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 30 September 2026 via checked.be.