HLC: 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.
HLC
Largest movements
- Tangible fixed assets -€100,354
down €100,354 (-7.7%), from €1.3m to €1.2m
- Receivables within one year +€21,405
up €21,405 (+20.5%), from €104,352 to €125,756
of which Other amounts receivable: +€21,405
- Other debts -€57,859
down €57,859 (-11.7%), from €496,162 to €438,303
- Gross operating margin -€95,124
down €95,124 (-59.8%), from €159,074 to €63,950
- Depreciation -€30,210
down €30,210 (-82.0%), from €36,829 to €6,618
- Taxes -€10,502
down €10,502 (-82.4%), from €12,748 to €2,246
- Other operating charges +€4,525
up €4,525 (+116.7%), from €3,878 to €8,403
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 | €1,444,677 | €1,378,555 | -€66,123 | -4.6% |
| Fixed assets | 21/28 | €1,338,435 | €1,238,081 | -€100,354 | -7.5% |
| Tangible fixed assets | 22/27 | €1,298,435 | €1,198,081 | -€100,354 | -7.7% |
| Land and buildings | 22 | €1,298,435 | €1,198,081 | -€100,354 | -7.7% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €106,243 | €140,474 | +€34,231 | +32.2% |
| Amounts receivable within one year | 40/41 | €104,352 | €125,756 | +€21,405 | +20.5% |
| Trade receivables | 40 | €4,174 | €4,174 | = | 0.0% |
| Other amounts receivable | 41 | €100,178 | €121,583 | +€21,405 | +21.4% |
| Cash at bank and in hand | 54/58 | €1,891 | €14,717 | +€12,826 | +678.3% |
| Total equity and liabilities | 10/49 | €1,444,677 | €1,378,555 | -€66,123 | -4.6% |
| Equity | 10/15 | €59,470 | €67,158 | +€7,688 | +12.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,470 | €57,158 | +€7,688 | +15.5% |
| Amounts payable | 17/49 | €1,385,207 | €1,311,397 | -€73,810 | -5.3% |
| Amounts payable after more than one year | 17 | €191,032 | €183,345 | -€7,688 | -4.0% |
| Financial debts | 170/4 | €191,032 | €183,345 | -€7,688 | -4.0% |
| Amounts payable within one year | 42/48 | €1,191,631 | €1,128,052 | -€63,579 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €6,390 | €7,688 | +€1,298 | +20.3% |
| Financial debts | 43 | €675,000 | €675,000 | = | 0.0% |
| Credit institutions | 430/8 | €675,000 | €675,000 | = | 0.0% |
| Trade debts | 44 | €1,331 | €4,815 | +€3,484 | +261.8% |
| Suppliers | 440/4 | €1,331 | €4,815 | +€3,484 | +261.8% |
| Taxes, remuneration and social security | 45 | €12,748 | €2,246 | -€10,502 | -82.4% |
| Taxes | 450/3 | €12,748 | €2,246 | -€10,502 | -82.4% |
| Other amounts payable | 47/48 | €496,162 | €438,303 | -€57,859 | -11.7% |
| Accrued charges and deferred income | 492/3 | €2,544 | €0 | -€2,544 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,829 | €6,618 | -€30,210 | -82.0% |
| Other operating charges | 640/8 | €3,878 | €8,403 | +€4,525 | +116.7% |
| Gross operating margin | 9900 | €159,074 | €63,950 | -€95,124 | -59.8% |
| Operating profit (loss) | 9901 | €118,368 | €48,929 | -€69,439 | -58.7% |
| Financial income | 75/76B | €153 | €27 | -€127 | -82.7% |
| Recurring financial income | 75 | €153 | €27 | -€127 | -82.7% |
| Financial charges | 65/66B | €40,257 | €39,022 | -€1,235 | -3.1% |
| Recurring financial charges | 65 | €40,257 | €39,022 | -€1,235 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €78,264 | €9,934 | -€68,331 | -87.3% |
| Income taxes | 67/77 | €12,748 | €2,246 | -€10,502 | -82.4% |
| Profit (loss) for the period | 9904 | €65,516 | €7,688 | -€57,829 | -88.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,516 | €7,688 | -€57,829 | -88.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.