HICA: 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.
HICA
Largest movements
- Stocks and contracts -€458,711
down €458,711 (-95.8%), from €478,972 to €20,261
of which Stocks: -€478,972
- Receivables within one year +€31,571
up €31,571 (+49.9%), from €63,304 to €94,875
of which Trade receivables: +€34,751
- Short-term financial debts -€310,000
no longer reported in 2025 (was €310,000)
- Other debts -€214,342
down €214,342 (-76.4%), from €280,649 to €66,307
- Advances received +€55,000
new in 2025: €55,000
- Profit (loss) carried forward +€45,030
up €45,030 (+29.1%), from -€154,843 to -€109,813
- Trade debts -€8,036
down €8,036 (-71.1%), from €11,307 to €3,271
- Gross operating margin +€167,514
up €167,514, from -€99,318 to €68,197
- Financial charges -€31,933
down €31,933 (-60.2%), from €53,055 to €21,122
- Other operating charges -€1,958
down €1,958 (-79.2%), from €2,471 to €513
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 | €611,864 | €186,108 | -€425,757 | -69.6% |
| Current assets | 29/58 | €611,864 | €186,108 | -€425,757 | -69.6% |
| Stocks and contracts in progress | 3 | €478,972 | €20,261 | -€458,711 | -95.8% |
| Stocks | 30/36 | €478,972 | - | -€478,972 | |
| Contracts in progress | 37 | - | €20,261 | +€20,261 | |
| Amounts receivable within one year | 40/41 | €63,304 | €94,875 | +€31,571 | +49.9% |
| Trade receivables | 40 | €60,124 | €94,875 | +€34,751 | +57.8% |
| Other amounts receivable | 41 | €3,181 | - | -€3,181 | |
| Cash at bank and in hand | 54/58 | €69,588 | €68,092 | -€1,496 | -2.1% |
| Deferred charges and accrued income | 490/1 | - | €2,879 | +€2,879 | |
| Total equity and liabilities | 10/49 | €611,864 | €186,108 | -€425,757 | -69.6% |
| Equity | 10/15 | €9,908 | €54,938 | +€45,030 | +454% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €158,551 | €158,551 | = | 0.0% |
| Distributable reserves | 133 | €158,551 | €158,551 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,843 | -€109,813 | +€45,030 | +29.1% |
| Amounts payable | 17/49 | €601,957 | €131,170 | -€470,787 | -78.2% |
| Amounts payable within one year | 42/48 | €601,957 | €131,170 | -€470,787 | -78.2% |
| Financial debts | 43 | €310,000 | - | -€310,000 | |
| Credit institutions | 430/8 | €310,000 | - | -€310,000 | |
| Trade debts | 44 | €11,307 | €3,271 | -€8,036 | -71.1% |
| Suppliers | 440/4 | €11,307 | €3,271 | -€8,036 | -71.1% |
| Advances received on contracts in progress | 46 | - | €55,000 | +€55,000 | |
| Taxes, remuneration and social security | 45 | - | €6,592 | +€6,592 | |
| Taxes | 450/3 | - | €6,592 | +€6,592 | |
| Other amounts payable | 47/48 | €280,649 | €66,307 | -€214,342 | -76.4% |
| Non-recurring operating income | 76A | €2,880 | - | -€2,880 | |
| Other operating charges | 640/8 | €2,471 | €513 | -€1,958 | -79.2% |
| Non-recurring operating charges | 66A | - | €1,531 | +€1,531 | |
| Gross operating margin | 9900 | -€99,318 | €68,197 | +€167,514 | |
| Operating profit (loss) | 9901 | -€101,789 | €66,152 | +€167,941 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.0% |
| Financial charges | 65/66B | €53,055 | €21,122 | -€31,933 | -60.2% |
| Recurring financial charges | 65 | €53,055 | €21,122 | -€31,933 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | -€154,843 | €45,030 | +€199,873 | |
| Profit (loss) for the period | 9904 | -€154,843 | €45,030 | +€199,873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€154,843 | €45,030 | +€199,873 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.