HCTL: 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.
HCTL
Largest movements
- Cash -€73,129
down €73,129 (-70.2%), from €104,215 to €31,086
mainly Tax, wage and social debts (-€50,930) and Contributions, distributions and other (-€40,000)
- Receivables within one year -€26,388
down €26,388 (-78.1%), from €33,800 to €7,412
of which Trade receivables: -€15,795
- Tangible fixed assets -€7,096
down €7,096 (-2.6%), from €269,144 to €262,048
of which Land and buildings: -€6,642
- Tax, wage and social debts -€50,930
down €50,930 (-99.9%), from €50,988 to €58
of which Taxes: -€46,130
- Reserves -€41,860
down €41,860 (-14.5%), from €288,110 to €246,250
- Debts after one year -€12,450
down €12,450 (-32.8%), from €37,920 to €25,470
- Other debts +€8,913
up €8,913, from €0 to €8,913
- Profit (loss) carried forward -€6,961
down €6,961, from €0 to -€6,961
- Gross operating margin -€113,190
down €113,190 (-95.4%), from €118,709 to €5,519
- Taxes -€36,286
down €36,286 (-99.8%), from €36,344 to €58
- Financial income -€3,494
down €3,494 (-89.8%), from €3,891 to €397
- Financial charges -€2,559
down €2,559 (-53.1%), from €4,817 to €2,258
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 | €407,577 | €300,546 | -€107,031 | -26.3% |
| Fixed assets | 21/28 | €269,144 | €262,048 | -€7,096 | -2.6% |
| Tangible fixed assets | 22/27 | €269,144 | €262,048 | -€7,096 | -2.6% |
| Land and buildings | 22 | €232,983 | €226,341 | -€6,642 | -2.9% |
| Plant, machinery and equipment | 23 | €8,173 | €8,892 | +€719 | +8.8% |
| Furniture and vehicles | 24 | €2,493 | €1,320 | -€1,173 | -47.1% |
| Other tangible fixed assets | 26 | €25,495 | €25,495 | = | 0.0% |
| Current assets | 29/58 | €138,433 | €38,498 | -€99,935 | -72.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €33,800 | €7,412 | -€26,388 | -78.1% |
| Trade receivables | 40 | €22,935 | €7,140 | -€15,795 | -68.9% |
| Other amounts receivable | 41 | €10,865 | €272 | -€10,593 | -97.5% |
| Cash at bank and in hand | 54/58 | €104,215 | €31,086 | -€73,129 | -70.2% |
| Deferred charges and accrued income | 490/1 | €418 | €0 | -€418 | -100.0% |
| Total equity and liabilities | 10/49 | €407,577 | €300,546 | -€107,031 | -26.3% |
| Equity | 10/15 | €294,710 | €245,888 | -€48,821 | -16.6% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €288,110 | €246,250 | -€41,860 | -14.5% |
| Distributable reserves | 133 | €288,110 | €246,250 | -€41,860 | -14.5% |
| Profit (loss) carried forward | 14 | €0 | -€6,961 | -€6,961 | |
| Amounts payable | 17/49 | €112,868 | €54,657 | -€58,210 | -51.6% |
| Amounts payable after more than one year | 17 | €37,920 | €25,470 | -€12,450 | -32.8% |
| Financial debts | 170/4 | €37,920 | €25,470 | -€12,450 | -32.8% |
| Amounts payable within one year | 42/48 | €68,971 | €28,191 | -€40,779 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €13,277 | €13,479 | +€202 | +1.5% |
| Trade debts | 44 | €4,706 | €5,742 | +€1,036 | +22.0% |
| Suppliers | 440/4 | €4,706 | €5,742 | +€1,036 | +22.0% |
| Taxes, remuneration and social security | 45 | €50,988 | €58 | -€50,930 | -99.9% |
| Taxes | 450/3 | €46,188 | €58 | -€46,130 | -99.9% |
| Remuneration and social security | 454/9 | €4,800 | €0 | -€4,800 | -100.0% |
| Other amounts payable | 47/48 | €0 | €8,913 | +€8,913 | |
| Accrued charges and deferred income | 492/3 | €5,977 | €996 | -€4,981 | -83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,807 | €10,676 | -€131 | -1.2% |
| Other operating charges | 640/8 | €1,866 | €1,745 | -€121 | -6.5% |
| Gross operating margin | 9900 | €118,709 | €5,519 | -€113,190 | -95.4% |
| Operating profit (loss) | 9901 | €106,036 | -€6,902 | -€112,938 | |
| Financial income | 75/76B | €3,891 | €397 | -€3,494 | -89.8% |
| Recurring financial income | 75 | €3,891 | €397 | -€3,494 | -89.8% |
| Financial charges | 65/66B | €4,817 | €2,258 | -€2,559 | -53.1% |
| Recurring financial charges | 65 | €4,817 | €2,258 | -€2,559 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €105,110 | -€8,763 | -€113,873 | |
| Income taxes | 67/77 | €36,344 | €58 | -€36,286 | -99.8% |
| Profit (loss) for the period | 9904 | €68,766 | -€8,821 | -€77,587 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,766 | -€8,821 | -€77,587 |
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 7 October 2026 via checked.be.