Hilco Projects: 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.
Hilco Projects
Largest movements
- Cash +€33,274
up €33,274 (+64.9%), from €51,306 to €84,580
mainly Net result for the year (+€79,917) and Tax, wage and social debts (+€31,104)
- Receivables within one year +€15,918
up €15,918 (+12.7%), from €124,973 to €140,891
of which Other amounts receivable: +€19,580
- Stocks and contracts -€9,724
down €9,724 (-100.0%), from €9,724 to €0
- Tangible fixed assets +€6,412
up €6,412 (+38.9%), from €16,485 to €22,897
of which Furniture and vehicles: +€3,806
- Reserves +€79,917
up €79,917 (+167.7%), from €47,641 to €127,558
- Advances received -€64,654
down €64,654 (-56.4%), from €114,601 to €49,947
- Tax, wage and social debts +€31,104
up €31,104 (+209.1%), from €14,874 to €45,978
- Trade debts -€21,144
down €21,144 (-69.1%), from €30,592 to €9,448
- Debts after one year +€16,027
new in 2025: €16,027
- Gross operating margin +€48,159
up €48,159 (+71.8%), from €67,051 to €115,210
- Taxes +€11,606
up €11,606 (+93.2%), from €12,448 to €24,054
- Depreciation +€5,021
up €5,021 (+463.8%), from €1,083 to €6,104
- Staff costs -€3,217
down €3,217 (-100.0%), from €3,217 to €0
- Financial charges +€2,901
up €2,901 (+254.4%), from €1,140 to €4,041
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 | €212,709 | €258,728 | +€46,019 | +21.6% |
| Fixed assets | 21/28 | €23,085 | €29,497 | +€6,412 | +27.8% |
| Tangible fixed assets | 22/27 | €16,485 | €22,897 | +€6,412 | +38.9% |
| Plant, machinery and equipment | 23 | - | €1,189 | +€1,189 | |
| Furniture and vehicles | 24 | €9,458 | €13,264 | +€3,806 | +40.2% |
| Other tangible fixed assets | 26 | €7,027 | €8,443 | +€1,416 | +20.2% |
| Financial fixed assets | 28 | €6,600 | €6,600 | = | 0.0% |
| Current assets | 29/58 | €189,624 | €229,231 | +€39,607 | +20.9% |
| Stocks and contracts in progress | 3 | €9,724 | €0 | -€9,724 | -100.0% |
| Contracts in progress | 37 | €9,724 | €0 | -€9,724 | -100.0% |
| Amounts receivable within one year | 40/41 | €124,973 | €140,891 | +€15,918 | +12.7% |
| Trade receivables | 40 | €112,729 | €109,067 | -€3,662 | -3.2% |
| Other amounts receivable | 41 | €12,244 | €31,825 | +€19,580 | +159.9% |
| Current investments | 50/53 | - | €2,400 | +€2,400 | |
| Cash at bank and in hand | 54/58 | €51,306 | €84,580 | +€33,274 | +64.9% |
| Deferred charges and accrued income | 490/1 | €3,622 | €1,359 | -€2,262 | -62.5% |
| Total equity and liabilities | 10/49 | €212,709 | €258,728 | +€46,019 | +21.6% |
| Equity | 10/15 | €52,641 | €132,558 | +€79,917 | +151.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,641 | €127,558 | +€79,917 | +167.7% |
| Distributable reserves | 133 | €47,641 | €127,558 | +€79,917 | +167.7% |
| Amounts payable | 17/49 | €160,068 | €126,170 | -€33,898 | -21.2% |
| Amounts payable after more than one year | 17 | - | €16,027 | +€16,027 | |
| Financial debts | 170/4 | - | €16,027 | +€16,027 | |
| Amounts payable within one year | 42/48 | €160,068 | €110,143 | -€49,925 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,770 | +€4,770 | |
| Trade debts | 44 | €30,592 | €9,448 | -€21,144 | -69.1% |
| Suppliers | 440/4 | €30,592 | €9,448 | -€21,144 | -69.1% |
| Advances received on contracts in progress | 46 | €114,601 | €49,947 | -€64,654 | -56.4% |
| Taxes, remuneration and social security | 45 | €14,874 | €45,978 | +€31,104 | +209.1% |
| Taxes | 450/3 | €14,874 | €45,978 | +€31,104 | +209.1% |
| Remuneration, social security and pensions | 62 | €3,217 | €0 | -€3,217 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,083 | €6,104 | +€5,021 | +463.8% |
| Other operating charges | 640/8 | €579 | €2,165 | +€1,586 | +274.1% |
| Non-recurring operating charges | 66A | €997 | €0 | -€997 | -100.0% |
| Gross operating margin | 9900 | €67,051 | €115,210 | +€48,159 | +71.8% |
| Operating profit (loss) | 9901 | €61,175 | €106,941 | +€45,766 | +74.8% |
| Financial income | 75/76B | €54 | €1,071 | +€1,017 | +1870.6% |
| Recurring financial income | 75 | €54 | €1,071 | +€1,017 | +1870.6% |
| Financial charges | 65/66B | €1,140 | €4,041 | +€2,901 | +254.4% |
| Recurring financial charges | 65 | €1,140 | €4,041 | +€2,901 | +254.4% |
| Profit (loss) for the period before taxes | 9903 | €60,089 | €103,971 | +€43,882 | +73.0% |
| Income taxes | 67/77 | €12,448 | €24,054 | +€11,606 | +93.2% |
| Profit (loss) for the period | 9904 | €47,641 | €79,917 | +€32,276 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,641 | €79,917 | +€32,276 | +67.7% |
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 9 October 2026 via checked.be.