HSCH: 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.
HSCH
Largest movements
- Tangible fixed assets +€6,192
up €6,192 (+37.2%), from €16,634 to €22,826
- Receivables within one year -€3,080
down €3,080 (-9.1%), from €33,757 to €30,677
of which Trade receivables: -€5,510
- Cash -€2,516
down €2,516 (-76.7%), from €3,281 to €765
mainly Investment in fixed assets (net) (-€13,255) and Debts after one year (-€3,279)
- Profit (loss) carried forward +€4,280
up €4,280 (+27.7%), from €15,429 to €19,709
- Debts after one year -€3,279
no longer reported in 2025 (was €3,279)
- Short-term financial debts +€2,653
new in 2025: €2,653
- Tax, wage and social debts -€1,975
down €1,975 (-28.5%), from €6,932 to €4,956
- Current portion of long-term debt -€1,004
down €1,004 (-23.4%), from €4,283 to €3,279
- Gross operating margin -€4,807
down €4,807 (-21.1%), from €22,780 to €17,973
- Taxes -€2,732
down €2,732 (-58.5%), from €4,668 to €1,936
- Financial charges +€878
up €878 (+53.2%), from €1,652 to €2,530
- Depreciation -€855
down €855 (-10.8%), from €7,918 to €7,063
- Other operating charges +€644
up €644 (+42.3%), from €1,521 to €2,165
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 | €55,409 | €56,005 | +€596 | +1.1% |
| Fixed assets | 21/28 | €18,370 | €24,562 | +€6,192 | +33.7% |
| Tangible fixed assets | 22/27 | €16,634 | €22,826 | +€6,192 | +37.2% |
| Furniture and vehicles | 24 | €16,634 | €22,826 | +€6,192 | +37.2% |
| Financial fixed assets | 28 | €1,736 | €1,736 | = | 0.0% |
| Current assets | 29/58 | €37,038 | €31,442 | -€5,596 | -15.1% |
| Amounts receivable within one year | 40/41 | €33,757 | €30,677 | -€3,080 | -9.1% |
| Trade receivables | 40 | €5,510 | - | -€5,510 | |
| Other amounts receivable | 41 | €28,247 | €30,677 | +€2,430 | +8.6% |
| Cash at bank and in hand | 54/58 | €3,281 | €765 | -€2,516 | -76.7% |
| Total equity and liabilities | 10/49 | €55,409 | €56,005 | +€596 | +1.1% |
| Equity | 10/15 | €34,029 | €38,309 | +€4,280 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,429 | €19,709 | +€4,280 | +27.7% |
| Amounts payable | 17/49 | €21,380 | €17,696 | -€3,684 | -17.2% |
| Amounts payable after more than one year | 17 | €3,279 | - | -€3,279 | |
| Financial debts | 170/4 | €3,279 | - | -€3,279 | |
| Amounts payable within one year | 42/48 | €18,101 | €17,696 | -€405 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €4,283 | €3,279 | -€1,004 | -23.4% |
| Financial debts | 43 | - | €2,653 | +€2,653 | |
| Credit institutions | 430/8 | - | €2,653 | +€2,653 | |
| Trade debts | 44 | €6,886 | €6,808 | -€78 | -1.1% |
| Suppliers | 440/4 | €6,886 | €6,808 | -€78 | -1.1% |
| Taxes, remuneration and social security | 45 | €6,932 | €4,956 | -€1,975 | -28.5% |
| Taxes | 450/3 | €6,932 | €4,956 | -€1,975 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,918 | €7,063 | -€855 | -10.8% |
| Other operating charges | 640/8 | €1,521 | €2,165 | +€644 | +42.3% |
| Gross operating margin | 9900 | €22,780 | €17,973 | -€4,807 | -21.1% |
| Operating profit (loss) | 9901 | €13,341 | €8,745 | -€4,596 | -34.4% |
| Financial income | 75/76B | €0 | €1 | +€1 | +8500.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +8500.0% |
| Financial charges | 65/66B | €1,652 | €2,530 | +€878 | +53.2% |
| Recurring financial charges | 65 | €1,652 | €2,530 | +€878 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €11,689 | €6,216 | -€5,473 | -46.8% |
| Income taxes | 67/77 | €4,668 | €1,936 | -€2,732 | -58.5% |
| Profit (loss) for the period | 9904 | €7,021 | €4,280 | -€2,741 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,021 | €4,280 | -€2,741 | -39.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.