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 +€9,025
up €9,025 (+20.6%), from €43,892 to €52,917
of which Trade receivables: +€8,819
- Tangible fixed assets -€7,764
down €7,764 (-12.9%), from €60,419 to €52,655
of which Leasing and similar rights: -€12,874
- Cash -€3,136
down €3,136 (-7.7%), from €40,888 to €37,752
mainly Debts after one year (-€16,548) and Receivables within one year (-€9,025)
- Debts after one year -€16,548
down €16,548 (-28.1%), from €58,831 to €42,283
- Trade debts +€8,142
up €8,142 (+29.5%), from €27,577 to €35,719
- Reserves +€3,000
up €3,000 (+40.0%), from €7,500 to €10,500
- Tax, wage and social debts +€2,708
up €2,708 (+44.1%), from €6,147 to €8,855
of which Taxes: +€2,108
- Current portion of long-term debt +€1,935
up €1,935 (+13.2%), from €14,613 to €16,548
- Depreciation +€8,343
up €8,343 (+125.0%), from €6,674 to €15,017
- Taxes -€1,808
down €1,808 (-50.3%), from €3,598 to €1,790
- Other operating charges -€1,505
down €1,505 (-38.2%), from €3,939 to €2,434
- Gross operating margin +€1,119
up €1,119 (+4.6%), from €24,356 to €25,475
- Financial income -€271
down €271 (-99.3%), from €273 to €2
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 | €155,311 | €154,609 | -€702 | -0.5% |
| Fixed assets | 21/28 | €60,471 | €54,207 | -€6,264 | -10.4% |
| Tangible fixed assets | 22/27 | €60,419 | €52,655 | -€7,764 | -12.9% |
| Plant, machinery and equipment | 23 | €1,640 | €2,371 | +€731 | +44.6% |
| Furniture and vehicles | 24 | - | €4,379 | +€4,379 | |
| Leasing and similar rights | 25 | €58,779 | €45,905 | -€12,874 | -21.9% |
| Financial fixed assets | 28 | €52 | €1,552 | +€1,500 | +2884.6% |
| Current assets | 29/58 | €94,840 | €100,402 | +€5,562 | +5.9% |
| Stocks and contracts in progress | 3 | €10,060 | €9,315 | -€745 | -7.4% |
| Stocks | 30/36 | €10,060 | €9,315 | -€745 | -7.4% |
| Amounts receivable within one year | 40/41 | €43,892 | €52,917 | +€9,025 | +20.6% |
| Trade receivables | 40 | €3,198 | €12,017 | +€8,819 | +275.8% |
| Other amounts receivable | 41 | €40,694 | €40,900 | +€206 | +0.5% |
| Cash at bank and in hand | 54/58 | €40,888 | €37,752 | -€3,136 | -7.7% |
| Deferred charges and accrued income | 490/1 | - | €418 | +€418 | |
| Total equity and liabilities | 10/49 | €155,311 | €154,609 | -€702 | -0.5% |
| Equity | 10/15 | €46,535 | €49,596 | +€3,061 | +6.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €10,500 | +€3,000 | +40.0% |
| Distributable reserves | 133 | €7,500 | €10,500 | +€3,000 | +40.0% |
| Profit (loss) carried forward | 14 | €34,035 | €34,096 | +€61 | +0.2% |
| Amounts payable | 17/49 | €108,776 | €105,013 | -€3,763 | -3.5% |
| Amounts payable after more than one year | 17 | €58,831 | €42,283 | -€16,548 | -28.1% |
| Financial debts | 170/4 | €58,831 | €42,283 | -€16,548 | -28.1% |
| Amounts payable within one year | 42/48 | €49,945 | €62,730 | +€12,785 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €14,613 | €16,548 | +€1,935 | +13.2% |
| Trade debts | 44 | €27,577 | €35,719 | +€8,142 | +29.5% |
| Suppliers | 440/4 | €27,577 | €35,719 | +€8,142 | +29.5% |
| Taxes, remuneration and social security | 45 | €6,147 | €8,855 | +€2,708 | +44.1% |
| Taxes | 450/3 | €4,147 | €6,255 | +€2,108 | +50.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,600 | +€600 | +30.0% |
| Other amounts payable | 47/48 | €1,608 | €1,608 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,674 | €15,017 | +€8,343 | +125.0% |
| Other operating charges | 640/8 | €3,939 | €2,434 | -€1,505 | -38.2% |
| Gross operating margin | 9900 | €24,356 | €25,475 | +€1,119 | +4.6% |
| Operating profit (loss) | 9901 | €13,743 | €8,024 | -€5,719 | -41.6% |
| Financial income | 75/76B | €273 | €2 | -€271 | -99.3% |
| Recurring financial income | 75 | €273 | €2 | -€271 | -99.3% |
| Financial charges | 65/66B | €2,917 | €3,175 | +€258 | +8.8% |
| Recurring financial charges | 65 | €2,917 | €3,175 | +€258 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €11,099 | €4,851 | -€6,248 | -56.3% |
| Income taxes | 67/77 | €3,598 | €1,790 | -€1,808 | -50.3% |
| Profit (loss) for the period | 9904 | €7,501 | €3,061 | -€4,440 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,501 | €3,061 | -€4,440 | -59.2% |
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 3 October 2026 via checked.be.