HLC: 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.
HLC
Largest movements
- Receivables within one year +€32,816
up €32,816 (+203%), from €16,157 to €48,973
of which Trade receivables: +€33,069
- Cash -€16,320
down €16,320 (-63.4%), from €25,751 to €9,431
mainly Other debts (-€33,265) and Receivables within one year (-€32,816)
- Stocks and contracts -€12,126
down €12,126 (-19.9%), from €61,063 to €48,937
- Tangible fixed assets -€8,853
down €8,853 (-3.5%), from €251,644 to €242,791
of which Land and buildings: -€7,193
- Other debts -€33,265
down €33,265 (-7.7%), from €433,878 to €400,613
- Trade debts +€21,617
up €21,617 (+626%), from €3,453 to €25,070
- Debts after one year -€13,765
down €13,765 (-22.9%), from €60,139 to €46,375
- Tax, wage and social debts +€11,141
up €11,141 (+159%), from €7,011 to €18,152
of which Remuneration and social security: +€10,144
- Profit (loss) carried forward +€8,753
up €8,753 (+3.8%), from -€228,420 to -€219,667
- Gross operating margin -€87,865
down €87,865 (-77.9%), from €112,816 to €24,951
- Financial income +€16,234
up €16,234 (+39,789%), from €41 to €16,275
of which Non-recurring financial income: +€15,878
- Other operating charges -€3,453
down €3,453 (-19.0%), from €18,216 to €14,764
- Financial charges +€1,867
up €1,867 (+55.1%), from €3,389 to €5,256
- Depreciation -€1,173
down €1,173 (-9.3%), from €12,562 to €11,389
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 | €358,066 | €352,848 | -€5,218 | -1.5% |
| Fixed assets | 21/28 | €251,644 | €242,791 | -€8,853 | -3.5% |
| Tangible fixed assets | 22/27 | €251,644 | €242,791 | -€8,853 | -3.5% |
| Land and buildings | 22 | €231,794 | €224,600 | -€7,193 | -3.1% |
| Plant, machinery and equipment | 23 | - | €2,097 | +€2,097 | |
| Furniture and vehicles | 24 | €7,626 | €5,515 | -€2,111 | -27.7% |
| Other tangible fixed assets | 26 | €12,225 | €10,580 | -€1,646 | -13.5% |
| Current assets | 29/58 | €106,422 | €110,057 | +€3,635 | +3.4% |
| Stocks and contracts in progress | 3 | €61,063 | €48,937 | -€12,126 | -19.9% |
| Stocks | 30/36 | €61,063 | €48,937 | -€12,126 | -19.9% |
| Amounts receivable within one year | 40/41 | €16,157 | €48,973 | +€32,816 | +203% |
| Trade receivables | 40 | €15,209 | €48,279 | +€33,069 | +217% |
| Other amounts receivable | 41 | €947 | €694 | -€253 | -26.7% |
| Current investments | 50/53 | €185 | €186 | +€1 | +0.4% |
| Cash at bank and in hand | 54/58 | €25,751 | €9,431 | -€16,320 | -63.4% |
| Deferred charges and accrued income | 490/1 | €3,266 | €2,531 | -€735 | -22.5% |
| Total equity and liabilities | 10/49 | €358,066 | €352,848 | -€5,218 | -1.5% |
| Equity | 10/15 | -€160,220 | -€151,467 | +€8,753 | +5.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€228,420 | -€219,667 | +€8,753 | +3.8% |
| Amounts payable | 17/49 | €518,287 | €504,315 | -€13,971 | -2.7% |
| Amounts payable after more than one year | 17 | €60,139 | €46,375 | -€13,765 | -22.9% |
| Financial debts | 170/4 | €60,139 | €46,375 | -€13,765 | -22.9% |
| Amounts payable within one year | 42/48 | €458,147 | €457,941 | -€207 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €13,372 | €13,765 | +€393 | +2.9% |
| Financial debts | 43 | €434 | €341 | -€93 | -21.3% |
| Credit institutions | 430/8 | €434 | €341 | -€93 | -21.3% |
| Trade debts | 44 | €3,453 | €25,070 | +€21,617 | +626% |
| Suppliers | 440/4 | €3,453 | €25,070 | +€21,617 | +626% |
| Taxes, remuneration and social security | 45 | €7,011 | €18,152 | +€11,141 | +159% |
| Taxes | 450/3 | €7,011 | €8,008 | +€996 | +14.2% |
| Remuneration and social security | 454/9 | - | €10,144 | +€10,144 | |
| Other amounts payable | 47/48 | €433,878 | €400,613 | -€33,265 | -7.7% |
| Non-recurring operating income | 76A | €23,087 | €173 | -€22,914 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,562 | €11,389 | -€1,173 | -9.3% |
| Other operating charges | 640/8 | €18,216 | €14,764 | -€3,453 | -19.0% |
| Gross operating margin | 9900 | €112,816 | €24,951 | -€87,865 | -77.9% |
| Operating profit (loss) | 9901 | €82,038 | -€1,202 | -€83,240 | |
| Financial income | 75/76B | €41 | €16,275 | +€16,234 | +39,789% |
| Recurring financial income | 75 | €41 | €397 | +€356 | +873% |
| Non-recurring financial income | 76B | - | €15,878 | +€15,878 | |
| Financial charges | 65/66B | €3,389 | €5,256 | +€1,867 | +55.1% |
| Recurring financial charges | 65 | €3,389 | €5,256 | +€1,867 | +55.1% |
| Profit (loss) for the period before taxes | 9903 | €78,690 | €9,817 | -€68,873 | -87.5% |
| Income taxes | 67/77 | €343 | €1,064 | +€721 | +210% |
| Profit (loss) for the period | 9904 | €78,347 | €8,753 | -€69,594 | -88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,347 | €8,753 | -€69,594 | -88.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.