Hickory Consult: 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.
Hickory Consult
Largest movements
- Current investments +€200,000
up €200,000 (+200%), from €100,000 to €300,000
- Deferred charges and accrued income -€37,243
down €37,243 (-40.8%), from €91,325 to €54,083
- Receivables within one year +€20,574
up €20,574 (+76.4%), from €26,943 to €47,517
of which Trade receivables: +€20,574
- Cash +€19,815
up €19,815 (+9.8%), from €203,073 to €222,888
mainly Net result for the year (+€177,028) and Deferred charges and accrued income (+€37,243)
- Tangible fixed assets -€15,694
down €15,694 (-22.8%), from €68,949 to €53,256
of which Furniture and vehicles: -€15,093
- Reserves +€177,028
up €177,028 (+56.4%), from €313,921 to €490,949
- Tax, wage and social debts +€24,879
up €24,879 (+22.9%), from €108,496 to €133,375
- Debts after one year -€13,715
down €13,715 (-32.1%), from €42,734 to €29,020
- Gross operating margin -€49,406
down €49,406 (-16.5%), from €298,988 to €249,582
- Taxes -€11,571
down €11,571 (-17.6%), from €65,698 to €54,127
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 | €490,290 | €677,743 | +€187,453 | +38.2% |
| Fixed assets | 21/28 | €68,949 | €53,256 | -€15,694 | -22.8% |
| Tangible fixed assets | 22/27 | €68,949 | €53,256 | -€15,694 | -22.8% |
| Plant, machinery and equipment | 23 | €2,295 | €1,695 | -€601 | -26.2% |
| Furniture and vehicles | 24 | €66,654 | €51,561 | -€15,093 | -22.6% |
| Current assets | 29/58 | €421,341 | €624,488 | +€203,146 | +48.2% |
| Amounts receivable within one year | 40/41 | €26,943 | €47,517 | +€20,574 | +76.4% |
| Trade receivables | 40 | €26,943 | €47,517 | +€20,574 | +76.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €100,000 | €300,000 | +€200,000 | +200% |
| Cash at bank and in hand | 54/58 | €203,073 | €222,888 | +€19,815 | +9.8% |
| Deferred charges and accrued income | 490/1 | €91,325 | €54,083 | -€37,243 | -40.8% |
| Total equity and liabilities | 10/49 | €490,290 | €677,743 | +€187,453 | +38.2% |
| Equity | 10/15 | €316,921 | €493,949 | +€177,028 | +55.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €313,921 | €490,949 | +€177,028 | +56.4% |
| Distributable reserves | 133 | €313,921 | €490,949 | +€177,028 | +56.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €173,369 | €183,795 | +€10,425 | +6.0% |
| Amounts payable after more than one year | 17 | €42,734 | €29,020 | -€13,715 | -32.1% |
| Financial debts | 170/4 | €42,734 | €29,020 | -€13,715 | -32.1% |
| Amounts payable within one year | 42/48 | €130,442 | €154,744 | +€24,302 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €13,211 | €13,715 | +€504 | +3.8% |
| Trade debts | 44 | €3,732 | €5,142 | +€1,411 | +37.8% |
| Suppliers | 440/4 | €3,732 | €5,142 | +€1,411 | +37.8% |
| Taxes, remuneration and social security | 45 | €108,496 | €133,375 | +€24,879 | +22.9% |
| Taxes | 450/3 | €108,496 | €133,375 | +€24,879 | +22.9% |
| Other amounts payable | 47/48 | €5,003 | €2,512 | -€2,491 | -49.8% |
| Accrued charges and deferred income | 492/3 | €193 | €31 | -€162 | -84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,763 | €17,752 | -€11 | -0.1% |
| Other operating charges | 640/8 | €844 | €408 | -€436 | -51.7% |
| Non-recurring operating charges | 66A | - | €1,013 | +€1,013 | |
| Gross operating margin | 9900 | €298,988 | €249,582 | -€49,406 | -16.5% |
| Operating profit (loss) | 9901 | €280,381 | €230,409 | -€49,972 | -17.8% |
| Financial income | 75/76B | €1 | €2,714 | +€2,712 | +184,500% |
| Recurring financial income | 75 | €1 | €2,714 | +€2,712 | +184,500% |
| Financial charges | 65/66B | €2,425 | €1,968 | -€457 | -18.8% |
| Recurring financial charges | 65 | €2,425 | €1,968 | -€457 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €277,958 | €231,154 | -€46,803 | -16.8% |
| Income taxes | 67/77 | €65,698 | €54,127 | -€11,571 | -17.6% |
| Profit (loss) for the period | 9904 | €212,260 | €177,028 | -€35,232 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €212,260 | €177,028 | -€35,232 | -16.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.