HILLUCELS: 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.
HILLUCELS
Largest movements
- Tangible fixed assets -€118,972
down €118,972 (-4.5%), from €2.6m to €2.5m
of which Land and buildings: -€115,691
- Cash +€38,444
up €38,444 (+33.4%), from €115,207 to €153,651
mainly Depreciation (+€130,815) and Net result for the year (+€39,131)
- Debts after one year -€110,050
down €110,050 (-35.5%), from €310,358 to €200,308
- Reserves +€39,131
up €39,131 (+18.9%), from €207,038 to €246,169
- Gross operating margin +€13,251
up €13,251 (+7.0%), from €189,411 to €202,662
- Taxes +€11,108
up €11,108 (+93.9%), from €11,835 to €22,943
- Financial charges -€3,246
down €3,246 (-24.9%), from €13,019 to €9,773
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 | €2,762,256 | €2,679,519 | -€82,737 | -3.0% |
| Fixed assets | 21/28 | €2,640,948 | €2,521,976 | -€118,972 | -4.5% |
| Tangible fixed assets | 22/27 | €2,640,948 | €2,521,976 | -€118,972 | -4.5% |
| Land and buildings | 22 | €2,630,878 | €2,515,187 | -€115,691 | -4.4% |
| Plant, machinery and equipment | 23 | €10,070 | €6,789 | -€3,281 | -32.6% |
| Current assets | 29/58 | €121,308 | €157,543 | +€36,235 | +29.9% |
| Amounts receivable within one year | 40/41 | €3,260 | - | -€3,260 | |
| Other amounts receivable | 41 | €3,260 | - | -€3,260 | |
| Cash at bank and in hand | 54/58 | €115,207 | €153,651 | +€38,444 | +33.4% |
| Deferred charges and accrued income | 490/1 | €2,841 | €3,892 | +€1,051 | +37.0% |
| Total equity and liabilities | 10/49 | €2,762,256 | €2,679,519 | -€82,737 | -3.0% |
| Equity | 10/15 | €647,038 | €686,169 | +€39,131 | +6.0% |
| Contributions | 10/11 | €440,000 | €440,000 | = | 0.0% |
| Reserves | 13 | €207,038 | €246,169 | +€39,131 | +18.9% |
| Distributable reserves | 133 | €207,038 | €246,169 | +€39,131 | +18.9% |
| Amounts payable | 17/49 | €2,115,218 | €1,993,350 | -€121,868 | -5.8% |
| Amounts payable after more than one year | 17 | €310,358 | €200,308 | -€110,050 | -35.5% |
| Financial debts | 170/4 | €310,358 | €200,308 | -€110,050 | -35.5% |
| Amounts payable within one year | 42/48 | €1,804,860 | €1,793,042 | -€11,818 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €106,699 | €110,050 | +€3,351 | +3.1% |
| Trade debts | 44 | €1,997 | €396 | -€1,601 | -80.2% |
| Suppliers | 440/4 | €1,997 | €396 | -€1,601 | -80.2% |
| Taxes, remuneration and social security | 45 | - | €4,432 | +€4,432 | |
| Taxes | 450/3 | - | €4,432 | +€4,432 | |
| Other amounts payable | 47/48 | €1,696,164 | €1,678,164 | -€18,000 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,260 | €130,815 | +€555 | +0.4% |
| Gross operating margin | 9900 | €189,411 | €202,662 | +€13,251 | +7.0% |
| Operating profit (loss) | 9901 | €59,151 | €71,847 | +€12,696 | +21.5% |
| Financial income | 75/76B | €825 | - | -€825 | |
| Recurring financial income | 75 | €825 | - | -€825 | |
| Financial charges | 65/66B | €13,019 | €9,773 | -€3,246 | -24.9% |
| Recurring financial charges | 65 | €13,019 | €9,773 | -€3,246 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €46,957 | €62,074 | +€15,117 | +32.2% |
| Income taxes | 67/77 | €11,835 | €22,943 | +€11,108 | +93.9% |
| Profit (loss) for the period | 9904 | €35,122 | €39,131 | +€4,009 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,122 | €39,131 | +€4,009 | +11.4% |
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 11 October 2026 via checked.be.