HSMC: 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.
HSMC
Largest movements
- Cash -€18,088
down €18,088 (-17.8%), from €101,587 to €83,499
mainly Contributions, distributions and other (-€278,405) and Other debts (-€28,810)
- Tangible fixed assets -€8,107
down €8,107 (-49.6%), from €16,353 to €8,246
of which Furniture and vehicles: -€15,594
- Other debts -€28,810
down €28,810 (-10.4%), from €278,009 to €249,199
No income-statement line moved by more than 1% of the activity.
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 | €326,022 | €298,014 | -€28,008 | -8.6% |
| Fixed assets | 21/28 | €16,353 | €8,246 | -€8,107 | -49.6% |
| Tangible fixed assets | 22/27 | €16,353 | €8,246 | -€8,107 | -49.6% |
| Plant, machinery and equipment | 23 | - | €838 | +€838 | |
| Furniture and vehicles | 24 | €16,353 | €759 | -€15,594 | -95.4% |
| Other tangible fixed assets | 26 | €0 | €6,649 | +€6,649 | |
| Current assets | 29/58 | €309,669 | €289,768 | -€19,901 | -6.4% |
| Amounts receivable within one year | 40/41 | €3,311 | €3,193 | -€118 | -3.6% |
| Trade receivables | 40 | €650 | €800 | +€150 | +23.1% |
| Other amounts receivable | 41 | €2,661 | €2,393 | -€268 | -10.1% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €101,587 | €83,499 | -€18,088 | -17.8% |
| Deferred charges and accrued income | 490/1 | €4,771 | €3,076 | -€1,695 | -35.5% |
| Total equity and liabilities | 10/49 | €326,022 | €298,014 | -€28,008 | -8.6% |
| Equity | 10/15 | €20,405 | €20,405 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100.0% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100.0% |
| Distributable reserves | 133 | - | €1,855 | +€1,855 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €305,617 | €277,609 | -€28,008 | -9.2% |
| Amounts payable within one year | 42/48 | €305,617 | €277,609 | -€28,008 | -9.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,683 | €2,179 | +€497 | +29.5% |
| Suppliers | 440/4 | €1,683 | €2,179 | +€497 | +29.5% |
| Taxes, remuneration and social security | 45 | €25,926 | €26,231 | +€305 | +1.2% |
| Taxes | 450/3 | €25,926 | €26,231 | +€305 | +1.2% |
| Other amounts payable | 47/48 | €278,009 | €249,199 | -€28,810 | -10.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,171 | €16,657 | -€514 | -3.0% |
| Other operating charges | 640/8 | €838 | €875 | +€37 | +4.4% |
| Gross operating margin | 9900 | €378,671 | €379,971 | +€1,300 | +0.3% |
| Operating profit (loss) | 9901 | €360,662 | €362,439 | +€1,777 | +0.5% |
| Financial income | 75/76B | €767 | €3,890 | +€3,123 | +406.9% |
| Recurring financial income | 75 | €767 | €3,890 | +€3,123 | +406.9% |
| Financial charges | 65/66B | €75 | €615 | +€540 | +725.2% |
| Recurring financial charges | 65 | €75 | €615 | +€540 | +725.2% |
| Profit (loss) for the period before taxes | 9903 | €361,355 | €365,714 | +€4,360 | +1.2% |
| Income taxes | 67/77 | €86,661 | €87,309 | +€648 | +0.7% |
| Profit (loss) for the period | 9904 | €274,694 | €278,405 | +€3,711 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €274,694 | €278,405 | +€3,711 | +1.4% |
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 29 September 2026 via checked.be.