HCW: 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.
HCW
Largest movements
- Receivables within one year +€1,205
up €1,205 (+6.1%), from €19,726 to €20,931
- Trade debts +€1,044
new in 2025: €1,044
- Other debts +€1,000
up €1,000 (+1.4%), from €72,478 to €73,478
- Gross operating margin +€612
up €612 (+61.6%), from -€994 to -€382
- Other operating charges +€13
up €13 (+7.2%), from €179 to €192
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 | €77,356 | €78,733 | +€1,377 | +1.8% |
| Fixed assets | 21/28 | €56,000 | €56,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €56,000 | €56,000 | = | 0.0% |
| Furniture and vehicles | 24 | €56,000 | €56,000 | = | 0.0% |
| Current assets | 29/58 | €21,356 | €22,733 | +€1,377 | +6.4% |
| Amounts receivable within one year | 40/41 | €19,726 | €20,931 | +€1,205 | +6.1% |
| Other amounts receivable | 41 | €19,726 | €20,931 | +€1,205 | +6.1% |
| Cash at bank and in hand | 54/58 | €425 | €679 | +€254 | +59.6% |
| Deferred charges and accrued income | 490/1 | €1,205 | €1,123 | -€82 | -6.8% |
| Total equity and liabilities | 10/49 | €77,356 | €78,733 | +€1,377 | +1.8% |
| Equity | 10/15 | €4,878 | €4,211 | -€667 | -13.7% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Capital | 10 | - | €6,250 | +€6,250 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €12,350 | +€12,350 | |
| Reserves | 13 | €20,649 | €20,649 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,041 | €1,041 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,041 | €1,041 | = | 0.0% |
| Distributable reserves | 133 | €19,608 | €19,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,021 | -€22,688 | -€667 | -3.0% |
| Amounts payable | 17/49 | €72,478 | €74,522 | +€2,044 | +2.8% |
| Amounts payable within one year | 42/48 | €72,478 | €74,522 | +€2,044 | +2.8% |
| Trade debts | 44 | - | €1,044 | +€1,044 | |
| Suppliers | 440/4 | - | €1,044 | +€1,044 | |
| Other amounts payable | 47/48 | €72,478 | €73,478 | +€1,000 | +1.4% |
| Other operating charges | 640/8 | €179 | €192 | +€13 | +7.2% |
| Gross operating margin | 9900 | -€994 | -€382 | +€612 | +61.6% |
| Operating profit (loss) | 9901 | -€1,173 | -€574 | +€599 | +51.1% |
| Financial charges | 65/66B | €92 | €93 | +€1 | +1.2% |
| Recurring financial charges | 65 | €92 | €93 | +€1 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,265 | -€667 | +€598 | +47.3% |
| Profit (loss) for the period | 9904 | -€1,265 | -€667 | +€598 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,265 | -€667 | +€598 | +47.3% |
Source: filed annual accounts (NBB), fiscal years ended 22 October 2024 and 22 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.