HLC Retail: 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 Retail
Largest movements
- Tangible fixed assets -€99,801
down €99,801 (-10.3%), from €968,630 to €868,830
of which Plant, machinery and equipment: -€100,000
- Cash -€80,119
down €80,119 (-28.3%), from €283,199 to €203,080
mainly Debts after one year (-€187,680) and Net result for the year (-€59,784)
- Intangible fixed assets -€65,000
down €65,000 (-10.3%), from €628,452 to €563,452
- Stocks and contracts -€33,355
down €33,355 (-14.2%), from €235,253 to €201,898
- Debts after one year -€187,680
down €187,680 (-13.3%), from €1.4m to €1.2m
- Profit (loss) carried forward -€59,784
down €59,784 (-207%), from -€28,932 to -€88,716
- Short-term financial debts -€35,000
no longer reported in 2025 (was €35,000)
- Tax, wage and social debts +€24,814
up €24,814 (+49.5%), from €50,112 to €74,927
of which Remuneration and social security: +€23,781
- Gross operating margin +€491,647
up €491,647 (+211%), from €232,669 to €724,316
- Staff costs +€368,706
up €368,706 (+231%), from €159,772 to €528,478
- Depreciation +€110,785
up €110,785 (+202%), from €54,902 to €165,686
- Financial charges +€63,687
up €63,687 (+161%), from €39,551 to €103,237
- Financial income +€13,465
new in 2025: €13,465
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 | €2,186,850 | €1,913,676 | -€273,174 | -12.5% |
| Fixed assets | 21/28 | €1,597,082 | €1,432,282 | -€164,801 | -10.3% |
| Intangible fixed assets | 21 | €628,452 | €563,452 | -€65,000 | -10.3% |
| Tangible fixed assets | 22/27 | €968,630 | €868,830 | -€99,801 | -10.3% |
| Plant, machinery and equipment | 23 | €966,849 | €866,849 | -€100,000 | -10.3% |
| Furniture and vehicles | 24 | €1,781 | €1,120 | -€661 | -37.1% |
| Other tangible fixed assets | 26 | - | €861 | +€861 | |
| Current assets | 29/58 | €589,768 | €481,394 | -€108,374 | -18.4% |
| Stocks and contracts in progress | 3 | €235,253 | €201,898 | -€33,355 | -14.2% |
| Stocks | 30/36 | €235,253 | €201,898 | -€33,355 | -14.2% |
| Amounts receivable within one year | 40/41 | €70,233 | €74,041 | +€3,808 | +5.4% |
| Trade receivables | 40 | €32,291 | €18,031 | -€14,261 | -44.2% |
| Other amounts receivable | 41 | €37,942 | €56,010 | +€18,068 | +47.6% |
| Cash at bank and in hand | 54/58 | €283,199 | €203,080 | -€80,119 | -28.3% |
| Deferred charges and accrued income | 490/1 | €1,083 | €2,375 | +€1,292 | +119% |
| Total equity and liabilities | 10/49 | €2,186,850 | €1,913,676 | -€273,174 | -12.5% |
| Equity | 10/15 | -€13,932 | -€73,716 | -€59,784 | -429% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,932 | -€88,716 | -€59,784 | -207% |
| Amounts payable | 17/49 | €2,200,782 | €1,987,392 | -€213,391 | -9.7% |
| Amounts payable after more than one year | 17 | €1,410,195 | €1,222,515 | -€187,680 | -13.3% |
| Financial debts | 170/4 | €1,410,195 | €1,222,515 | -€187,680 | -13.3% |
| Amounts payable within one year | 42/48 | €789,187 | €764,877 | -€24,311 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €180,945 | €187,680 | +€6,735 | +3.7% |
| Financial debts | 43 | €35,000 | - | -€35,000 | |
| Other loans | 439 | €35,000 | - | -€35,000 | |
| Trade debts | 44 | €523,130 | €502,270 | -€20,860 | -4.0% |
| Suppliers | 440/4 | €523,130 | €502,270 | -€20,860 | -4.0% |
| Taxes, remuneration and social security | 45 | €50,112 | €74,927 | +€24,814 | +49.5% |
| Taxes | 450/3 | €349 | €1,382 | +€1,033 | +296% |
| Remuneration and social security | 454/9 | €49,764 | €73,545 | +€23,781 | +47.8% |
| Accrued charges and deferred income | 492/3 | €1,400 | - | -€1,400 | |
| Remuneration, social security and pensions | 62 | €159,772 | €528,478 | +€368,706 | +231% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,902 | €165,686 | +€110,785 | +202% |
| Other operating charges | 640/8 | €7,377 | €163 | -€7,213 | -97.8% |
| Gross operating margin | 9900 | €232,669 | €724,316 | +€491,647 | +211% |
| Operating profit (loss) | 9901 | €10,619 | €29,989 | +€19,370 | +182% |
| Financial income | 75/76B | - | €13,465 | +€13,465 | |
| Recurring financial income | 75 | - | €13,465 | +€13,465 | |
| Financial charges | 65/66B | €39,551 | €103,237 | +€63,687 | +161% |
| Recurring financial charges | 65 | €39,551 | €103,237 | +€63,687 | +161% |
| Profit (loss) for the period before taxes | 9903 | -€28,932 | -€59,784 | -€30,852 | -107% |
| Profit (loss) for the period | 9904 | -€28,932 | -€59,784 | -€30,852 | -107% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,932 | -€59,784 | -€30,852 | -107% |
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 22 October 2026 via checked.be.