HIMaCoS: 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.
HIMaCoS
Largest movements
- Receivables after one year +€255,296
up €255,296 (+144%), from €177,719 to €433,015
of which Other amounts receivable: +€433,015
- Cash -€252,729
down €252,729 (-28.7%), from €882,035 to €629,306
mainly Receivables after one year (-€255,296) and Investment in fixed assets (net) (-€188,450)
- Tangible fixed assets +€98,315
up €98,315 (+10.8%), from €909,852 to €1.0m
of which Land and buildings: +€135,470
- Debts after one year +€78,527
up €78,527 (+11.9%), from €658,444 to €736,971
- Other debts +€22,972
new in 2025: €22,972
- Gross operating margin -€69,996
down €69,996 (-36.1%), from €193,869 to €123,874
- Turnover -€49,319
down €49,319 (-10.4%), from €473,499 to €424,180
- Purchases and services +€20,677
up €20,677 (+7.4%), from €279,630 to €300,307
- Taxes -€9,499
down €9,499 (-21.6%), from €43,903 to €34,404
- Depreciation +€8,451
up €8,451 (+10.3%), from €81,684 to €90,135
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 | €2,067,369 | €2,165,567 | +€98,198 | +4.7% |
| Fixed assets | 21/28 | €909,852 | €1,008,167 | +€98,315 | +10.8% |
| Tangible fixed assets | 22/27 | €909,852 | €1,008,167 | +€98,315 | +10.8% |
| Land and buildings | 22 | €755,998 | €891,468 | +€135,470 | +17.9% |
| Plant, machinery and equipment | 23 | €37,646 | €28,033 | -€9,613 | -25.5% |
| Furniture and vehicles | 24 | €116,208 | €88,666 | -€27,542 | -23.7% |
| Current assets | 29/58 | €1,157,517 | €1,157,400 | -€117 | 0.0% |
| Amounts receivable after more than one year | 29 | €177,719 | €433,015 | +€255,296 | +144% |
| Trade receivables | 290 | €177,719 | - | -€177,719 | |
| Other amounts receivable | 291 | - | €433,015 | +€433,015 | |
| Amounts receivable within one year | 40/41 | €93,329 | €90,822 | -€2,507 | -2.7% |
| Trade receivables | 40 | €6,958 | €10,363 | +€3,405 | +48.9% |
| Other amounts receivable | 41 | €86,371 | €80,459 | -€5,912 | -6.8% |
| Cash at bank and in hand | 54/58 | €882,035 | €629,306 | -€252,729 | -28.7% |
| Deferred charges and accrued income | 490/1 | €4,434 | €4,257 | -€177 | -4.0% |
| Total equity and liabilities | 10/49 | €2,067,369 | €2,165,567 | +€98,198 | +4.7% |
| Equity | 10/15 | €1,266,011 | €1,263,477 | -€2,534 | -0.2% |
| Contributions | 10/11 | €8,059 | €8,059 | +€0 | 0.0% |
| Reserves | 13 | €168,704 | €161,231 | -€7,473 | -4.4% |
| Tax-exempt reserves | 132 | €119,577 | €112,103 | -€7,474 | -6.2% |
| Distributable reserves | 133 | €49,127 | €49,127 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €1,089,248 | €1,094,187 | +€4,939 | +0.5% |
| Provisions and deferred taxes | 16 | €39,859 | €37,368 | -€2,491 | -6.3% |
| Deferred taxes | 168 | €39,859 | €37,368 | -€2,491 | -6.3% |
| Amounts payable | 17/49 | €761,499 | €864,723 | +€103,224 | +13.6% |
| Amounts payable after more than one year | 17 | €658,444 | €736,971 | +€78,527 | +11.9% |
| Financial debts | 170/4 | €658,444 | €736,971 | +€78,527 | +11.9% |
| Amounts payable within one year | 42/48 | €103,043 | €127,740 | +€24,697 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €78,300 | €83,938 | +€5,638 | +7.2% |
| Trade debts | 44 | €5,245 | - | -€5,245 | |
| Suppliers | 440/4 | €5,245 | - | -€5,245 | |
| Taxes, remuneration and social security | 45 | €19,498 | €20,830 | +€1,332 | +6.8% |
| Taxes | 450/3 | €19,498 | €20,830 | +€1,332 | +6.8% |
| Other amounts payable | 47/48 | - | €22,972 | +€22,972 | |
| Accrued charges and deferred income | 492/3 | €12 | €12 | = | 0.0% |
| Turnover | 70 | €473,499 | €424,180 | -€49,319 | -10.4% |
| Non-recurring operating income | 76A | €28,674 | - | -€28,674 | |
| Goods, raw materials, services and sundry goods | 60/61 | €279,630 | €300,307 | +€20,677 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,684 | €90,135 | +€8,451 | +10.3% |
| Other operating charges | 640/8 | €7,011 | €4,774 | -€2,238 | -31.9% |
| Gross operating margin | 9900 | €193,869 | €123,874 | -€69,996 | -36.1% |
| Operating profit (loss) | 9901 | €105,174 | €28,965 | -€76,209 | -72.5% |
| Financial income | 75/76B | €9,351 | €10,461 | +€1,110 | +11.9% |
| Recurring financial income | 75 | €9,351 | €10,461 | +€1,110 | +11.9% |
| Financial charges | 65/66B | €7,264 | €10,047 | +€2,783 | +38.3% |
| Recurring financial charges | 65 | €7,264 | €10,047 | +€2,783 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €107,261 | €29,378 | -€77,883 | -72.6% |
| Transfer from deferred taxes | 780 | €2,491 | €2,491 | +€0 | 0.0% |
| Income taxes | 67/77 | €43,903 | €34,404 | -€9,499 | -21.6% |
| Profit (loss) for the period | 9904 | €65,849 | -€2,534 | -€68,383 | |
| Transfer from tax-exempt reserves | 789 | €7,474 | €7,474 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €73,323 | €4,939 | -€68,384 | -93.3% |
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 26 October 2026 via checked.be.