HTC: 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.
HTC
Largest movements
- Tangible fixed assets -€280,397
down €280,397 (-23.4%), from €1.2m to €915,760
of which Leasing and similar rights: -€193,156
- Stocks and contracts -€256,018
down €256,018 (-23.6%), from €1.1m to €826,892
- Receivables within one year +€169,652
up €169,652 (+34.2%), from €496,578 to €666,230
of which Trade receivables: +€109,153
- Short-term financial debts -€243,434
down €243,434 (-85.9%), from €283,434 to €40,000
- Debts after one year -€195,050
down €195,050 (-27.3%), from €715,476 to €520,426
- Trade debts +€75,464
up €75,464 (+39.7%), from €189,973 to €265,437
- Tax, wage and social debts +€60,708
up €60,708 (+121%), from €50,195 to €110,903
of which Remuneration and social security: +€42,114
- Current portion of long-term debt -€34,872
down €34,872 (-9.0%), from €387,913 to €353,041
- Gross operating margin +€214,540
up €214,540 (+23.8%), from €900,035 to €1.1m
- Depreciation -€142,471
down €142,471 (-26.3%), from €540,692 to €398,221
- Staff costs +€26,330
up €26,330 (+8.0%), from €328,982 to €355,313
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 | €3,177,626 | €2,823,898 | -€353,728 | -11.1% |
| Fixed assets | 21/28 | €1,197,180 | €916,783 | -€280,397 | -23.4% |
| Tangible fixed assets | 22/27 | €1,196,157 | €915,760 | -€280,397 | -23.4% |
| Land and buildings | 22 | €365,671 | €298,665 | -€67,006 | -18.3% |
| Plant, machinery and equipment | 23 | €50,210 | €22,658 | -€27,552 | -54.9% |
| Furniture and vehicles | 24 | €16,683 | €23,999 | +€7,316 | +43.9% |
| Leasing and similar rights | 25 | €763,592 | €570,437 | -€193,156 | -25.3% |
| Financial fixed assets | 28 | €1,023 | €1,023 | = | 0.0% |
| Current assets | 29/58 | €1,980,446 | €1,907,115 | -€73,331 | -3.7% |
| Stocks and contracts in progress | 3 | €1,082,910 | €826,892 | -€256,018 | -23.6% |
| Stocks | 30/36 | €1,082,910 | €826,892 | -€256,018 | -23.6% |
| Amounts receivable within one year | 40/41 | €496,578 | €666,230 | +€169,652 | +34.2% |
| Trade receivables | 40 | €478,343 | €587,495 | +€109,153 | +22.8% |
| Other amounts receivable | 41 | €18,236 | €78,735 | +€60,499 | +332% |
| Cash at bank and in hand | 54/58 | €400,958 | €413,993 | +€13,035 | +3.3% |
| Total equity and liabilities | 10/49 | €3,177,626 | €2,823,898 | -€353,728 | -11.1% |
| Equity | 10/15 | €1,520,675 | €1,504,131 | -€16,544 | -1.1% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €1,590,836 | €1,590,836 | = | 0.0% |
| Distributable reserves | 133 | €1,590,836 | €1,590,836 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,366 | -€92,910 | -€16,544 | -21.7% |
| Amounts payable | 17/49 | €1,656,951 | €1,319,767 | -€337,184 | -20.3% |
| Amounts payable after more than one year | 17 | €715,476 | €520,426 | -€195,050 | -27.3% |
| Financial debts | 170/4 | €715,476 | €520,426 | -€195,050 | -27.3% |
| Amounts payable within one year | 42/48 | €941,475 | €799,341 | -€142,134 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €387,913 | €353,041 | -€34,872 | -9.0% |
| Financial debts | 43 | €283,434 | €40,000 | -€243,434 | -85.9% |
| Credit institutions | 430/8 | €283,434 | €40,000 | -€243,434 | -85.9% |
| Trade debts | 44 | €189,973 | €265,437 | +€75,464 | +39.7% |
| Suppliers | 440/4 | €189,973 | €265,437 | +€75,464 | +39.7% |
| Taxes, remuneration and social security | 45 | €50,195 | €110,903 | +€60,708 | +121% |
| Taxes | 450/3 | €33,052 | €51,646 | +€18,594 | +56.3% |
| Remuneration and social security | 454/9 | €17,142 | €59,256 | +€42,114 | +246% |
| Other amounts payable | 47/48 | €29,961 | €29,961 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €328,982 | €355,313 | +€26,330 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €540,692 | €398,221 | -€142,471 | -26.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €493 | - | -€493 | |
| Other operating charges | 640/8 | €52,691 | €58,052 | +€5,361 | +10.2% |
| Non-recurring operating charges | 66A | €343 | €260,674 | +€260,331 | +75,876% |
| Gross operating margin | 9900 | €900,035 | €1,114,575 | +€214,540 | +23.8% |
| Operating profit (loss) | 9901 | -€23,166 | €42,315 | +€65,482 | |
| Financial income | 75/76B | €4 | €3 | -€1 | -31.6% |
| Recurring financial income | 75 | €4 | €3 | -€1 | -31.6% |
| Financial charges | 65/66B | €52,601 | €58,198 | +€5,597 | +10.6% |
| Recurring financial charges | 65 | €52,601 | €58,198 | +€5,597 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€75,763 | -€15,880 | +€59,883 | +79.0% |
| Income taxes | 67/77 | €603 | €665 | +€62 | +10.3% |
| Profit (loss) for the period | 9904 | -€76,366 | -€16,544 | +€59,821 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,366 | -€16,544 | +€59,821 | +78.3% |
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 16 October 2026 via checked.be.