HILCAN: 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.
HILCAN
Largest movements
- Tangible fixed assets -€298,864
down €298,864 (-35.4%), from €843,455 to €544,591
of which Land and buildings: -€297,518
- Current investments -€50,032
down €50,032 (-39.0%), from €128,158 to €78,126
- Cash -€35,363
down €35,363 (-5.2%), from €679,146 to €643,784
mainly Other debts (-€518,122) and Contributions, distributions and other (-€17,754)
- Other debts -€518,122
down €518,122 (-61.7%), from €840,355 to €322,234
- Reserves +€137,132
up €137,132 (+741.4%), from €18,496 to €155,628
- Gross operating margin +€220,542
up €220,542 (+196.6%), from €112,188 to €332,730
- Taxes +€33,631
new in 2025: €33,631
- Financial charges -€13,512
down €13,512 (-28.3%), from €47,772 to €34,259
- Depreciation -€11,063
down €11,063 (-11.9%), from €92,884 to €81,820
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 | €1,691,232 | €1,314,045 | -€377,187 | -22.3% |
| Fixed assets | 21/28 | €843,455 | €544,591 | -€298,864 | -35.4% |
| Tangible fixed assets | 22/27 | €843,455 | €544,591 | -€298,864 | -35.4% |
| Land and buildings | 22 | €841,256 | €543,738 | -€297,518 | -35.4% |
| Furniture and vehicles | 24 | €2,199 | €852 | -€1,347 | -61.2% |
| Current assets | 29/58 | €847,777 | €769,455 | -€78,322 | -9.2% |
| Amounts receivable after more than one year | 29 | €699 | €699 | = | 0.0% |
| Trade receivables | 290 | €699 | €699 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,633 | €43,146 | +€8,513 | +24.6% |
| Trade receivables | 40 | €1,949 | €5,869 | +€3,920 | +201.2% |
| Other amounts receivable | 41 | €32,684 | €37,277 | +€4,592 | +14.1% |
| Current investments | 50/53 | €128,158 | €78,126 | -€50,032 | -39.0% |
| Cash at bank and in hand | 54/58 | €679,146 | €643,784 | -€35,363 | -5.2% |
| Deferred charges and accrued income | 490/1 | €5,141 | €3,701 | -€1,440 | -28.0% |
| Total equity and liabilities | 10/49 | €1,691,232 | €1,314,045 | -€377,187 | -22.3% |
| Equity | 10/15 | €780,377 | €931,050 | +€150,673 | +19.3% |
| Contributions | 10/11 | €775,422 | €775,422 | = | 0.0% |
| Reserves | 13 | €18,496 | €155,628 | +€137,132 | +741.4% |
| Distributable reserves | 133 | €18,496 | €155,628 | +€137,132 | +741.4% |
| Profit (loss) carried forward | 14 | -€13,541 | €0 | +€13,541 | |
| Amounts payable | 17/49 | €910,855 | €382,995 | -€527,860 | -58.0% |
| Amounts payable after more than one year | 17 | €7,358 | €7,358 | = | 0.0% |
| Other amounts payable | 178/9 | €7,358 | €7,358 | = | 0.0% |
| Amounts payable within one year | 42/48 | €857,013 | €342,729 | -€514,284 | -60.0% |
| Trade debts | 44 | €4,436 | €4,349 | -€87 | -2.0% |
| Suppliers | 440/4 | €4,436 | €4,349 | -€87 | -2.0% |
| Advances received on contracts in progress | 46 | €12,222 | €658 | -€11,564 | -94.6% |
| Taxes, remuneration and social security | 45 | - | €15,489 | +€15,489 | |
| Taxes | 450/3 | - | €15,489 | +€15,489 | |
| Other amounts payable | 47/48 | €840,355 | €322,234 | -€518,122 | -61.7% |
| Accrued charges and deferred income | 492/3 | €46,485 | €32,908 | -€13,577 | -29.2% |
| Non-recurring operating income | 76A | - | €233,756 | +€233,756 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,884 | €81,820 | -€11,063 | -11.9% |
| Other operating charges | 640/8 | €19,956 | €19,030 | -€926 | -4.6% |
| Gross operating margin | 9900 | €112,188 | €332,730 | +€220,542 | +196.6% |
| Operating profit (loss) | 9901 | -€652 | €231,880 | +€232,532 | |
| Financial income | 75/76B | €5,219 | €4,438 | -€781 | -15.0% |
| Recurring financial income | 75 | €5,219 | €4,438 | -€781 | -15.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €47,772 | €34,259 | -€13,512 | -28.3% |
| Recurring financial charges | 65 | €47,772 | €34,259 | -€13,512 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,205 | €202,058 | +€245,263 | |
| Income taxes | 67/77 | - | €33,631 | +€33,631 | |
| Profit (loss) for the period | 9904 | -€43,205 | €168,428 | +€211,632 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,205 | €168,428 | +€211,632 |
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 4 October 2026 via checked.be.