HKC Farm: 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.
HKC Farm
Largest movements
- Tangible fixed assets -€113,292
down €113,292 (-15.2%), from €746,401 to €633,109
- Deferred charges and accrued income +€32,943
up €32,943 (+979%), from €3,366 to €36,309
- Cash -€17,575
down €17,575 (-44.1%), from €39,879 to €22,304
mainly Debts after one year (-€116,634) and Deferred charges and accrued income (-€32,943)
- Receivables within one year +€15,811
up €15,811 (+27.5%), from €57,459 to €73,270
of which Trade receivables: +€12,026
- Debts after one year -€116,634
down €116,634 (-76.6%), from €152,190 to €35,556
- Other debts +€34,563
up €34,563 (+13.2%), from €261,188 to €295,751
- Tax, wage and social debts -€24,957
down €24,957 (-70.4%), from €35,432 to €10,475
of which Taxes: -€13,105
- Current portion of long-term debt +€9,788
up €9,788 (+9.2%), from €106,847 to €116,635
- Reserves +€9,022
up €9,022 (+8.3%), from €108,572 to €117,593
- Depreciation +€26,792
up €26,792 (+27.1%), from €99,000 to €125,792
- Gross operating margin +€7,688
up €7,688 (+4.7%), from €164,702 to €172,389
- Staff costs +€3,754
new in 2026: €3,754
- Other operating charges -€2,921
down €2,921 (-50.9%), from €5,741 to €2,820
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €847,105 | €764,992 | -€82,113 | -9.7% |
| Fixed assets | 21/28 | €746,401 | €633,109 | -€113,292 | -15.2% |
| Tangible fixed assets | 22/27 | €746,401 | €633,109 | -€113,292 | -15.2% |
| Land and buildings | 22 | €375,633 | €345,598 | -€30,035 | -8.0% |
| Plant, machinery and equipment | 23 | €208,524 | €171,018 | -€37,506 | -18.0% |
| Furniture and vehicles | 24 | €58,366 | €35,511 | -€22,855 | -39.2% |
| Leasing and similar rights | 25 | €103,879 | €80,983 | -€22,896 | -22.0% |
| Current assets | 29/58 | €100,704 | €131,883 | +€31,179 | +31.0% |
| Amounts receivable within one year | 40/41 | €57,459 | €73,270 | +€15,811 | +27.5% |
| Trade receivables | 40 | €57,459 | €69,485 | +€12,026 | +20.9% |
| Other amounts receivable | 41 | €0 | €3,785 | +€3,785 | |
| Cash at bank and in hand | 54/58 | €39,879 | €22,304 | -€17,575 | -44.1% |
| Deferred charges and accrued income | 490/1 | €3,366 | €36,309 | +€32,943 | +979% |
| Total equity and liabilities | 10/49 | €847,105 | €764,992 | -€82,113 | -9.7% |
| Equity | 10/15 | €282,572 | €291,593 | +€9,022 | +3.2% |
| Contributions | 10/11 | €174,000 | €174,000 | = | 0.0% |
| Reserves | 13 | €108,572 | €117,593 | +€9,022 | +8.3% |
| Distributable reserves | 133 | €108,572 | €117,593 | +€9,022 | +8.3% |
| Amounts payable | 17/49 | €564,533 | €473,398 | -€91,134 | -16.1% |
| Amounts payable after more than one year | 17 | €152,190 | €35,556 | -€116,634 | -76.6% |
| Financial debts | 170/4 | €152,190 | €35,556 | -€116,634 | -76.6% |
| Amounts payable within one year | 42/48 | €412,343 | €437,843 | +€25,500 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €106,847 | €116,635 | +€9,788 | +9.2% |
| Financial debts | 43 | - | €627 | +€627 | |
| Credit institutions | 430/8 | - | €627 | +€627 | |
| Trade debts | 44 | €8,876 | €14,355 | +€5,479 | +61.7% |
| Suppliers | 440/4 | €8,876 | €14,355 | +€5,479 | +61.7% |
| Taxes, remuneration and social security | 45 | €35,432 | €10,475 | -€24,957 | -70.4% |
| Taxes | 450/3 | €21,660 | €8,555 | -€13,105 | -60.5% |
| Remuneration and social security | 454/9 | €13,772 | €1,920 | -€11,851 | -86.1% |
| Other amounts payable | 47/48 | €261,188 | €295,751 | +€34,563 | +13.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €66,075 | €0 | -€66,075 | -100% |
| Remuneration, social security and pensions | 62 | - | €3,754 | +€3,754 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,000 | €125,792 | +€26,792 | +27.1% |
| Other operating charges | 640/8 | €5,741 | €2,820 | -€2,921 | -50.9% |
| Gross operating margin | 9900 | €164,702 | €172,389 | +€7,688 | +4.7% |
| Operating profit (loss) | 9901 | €59,961 | €40,024 | -€19,937 | -33.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24,735 | €24,582 | -€154 | -0.6% |
| Recurring financial charges | 65 | €24,735 | €24,582 | -€154 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €35,226 | €15,442 | -€19,784 | -56.2% |
| Income taxes | 67/77 | €5,370 | €6,420 | +€1,050 | +19.5% |
| Profit (loss) for the period | 9904 | €29,855 | €9,022 | -€20,834 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,855 | €9,022 | -€20,834 | -69.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.