H GROUP: 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.
What changed
H GROUP
NACE 68.121, Development of residential building projects
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€357,785
2023 · -€245,715+€603,500
Equity
€2.0m
2023 · €1.6m+€357,785
Cash
€680,387
2023 · €30,809+€649,579
Balance sheet total
€12.9m
2023 · €8.3m+€4.6m
Largest movements
Assets
- Financial fixed assets +€3.9m
up €3.9m (+233.0%), from €1.7m to €5.5m
- Cash +€649,579
up €649,579 (+2108.4%), from €30,809 to €680,387
mainly Other debts (+€4.3m) and Net result for the year (+€357,785)
Equity and liabilities
- Other debts +€4.3m
up €4.3m (+100.3%), from €4.3m to €8.7m
- Profit (loss) carried forward +€370,330
up €370,330 (+30.5%), from -€1.2m to -€845,742
Income statement
- Financial income +€528,553
up €528,553 (+818.9%), from €64,547 to €593,099
of which Non-recurring financial income: +€541,000
- Gross operating margin +€67,297
up €67,297 (+69.1%), from -€97,343 to -€30,047
- Financial charges -€4,073
down €4,073 (-13.2%), from €30,892 to €26,819
of which Financial charges: -€2,740
- Other operating charges -€2,037
down €2,037 (-9.2%), from €22,247 to €20,210
- Staff costs -€1,576
down €1,576 (-2.6%), from €60,798 to €59,222
From the 2023 result to the 2024 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.
Result 2023
-€245,715
Gross operating margin
+€67,297
Staff costs
+€1,576
Depreciation
-€35
Other operating charges
+€2,037
Financial income
+€528,553
Financial charges
+€4,073
Result 2024
€357,785
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.7m
Investment
-€4.0m
Financing
-€112,542
Cash 2023
€30,809
From operations (derived)
+€4.7m
Net result for the year
+€357,785
Depreciation
+€103,198
Smaller working-capital items
-€10,772
Receivables within one year
-€93,070
Trade debts
+€20,351
Other debts
+€4.3m
Investment (derived)
-€4.0m
Investment in fixed assets (net)
-€4.0m
Financing
-€112,542
Debts after one year
-€114,097
Current portion of long-term debt
+€1,555
Cash 2024
€680,387
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,250,015 | €12,858,998 | +€4.6m | +55.9% |
| Fixed assets | 21/28 | €5,811,892 | €9,673,336 | +€3.9m | +66.4% |
| Tangible fixed assets | 22/27 | €4,152,805 | €4,148,927 | -€3,877 | -0.1% |
| Land and buildings | 22 | €3,920,601 | €3,912,222 | -€8,379 | -0.2% |
| Plant, machinery and equipment | 23 | €756 | €578 | -€178 | -23.6% |
| Furniture and vehicles | 24 | €209,583 | €215,468 | +€5,884 | +2.8% |
| Other tangible fixed assets | 26 | €21,865 | €20,660 | -€1,205 | -5.5% |
| Financial fixed assets | 28 | €1,659,087 | €5,524,409 | +€3.9m | +233.0% |
| Current assets | 29/58 | €2,438,123 | €3,185,662 | +€747,539 | +30.7% |
| Stocks and contracts in progress | 3 | €27,878 | €32,179 | +€4,301 | +15.4% |
| Stocks | 30/36 | €27,878 | €32,179 | +€4,301 | +15.4% |
| Amounts receivable within one year | 40/41 | €2,248,591 | €2,341,661 | +€93,070 | +4.1% |
| Trade receivables | 40 | €1,713 | €33,482 | +€31,769 | +1854.7% |
| Other amounts receivable | 41 | €2,246,878 | €2,308,179 | +€61,300 | +2.7% |
| Current investments | 50/53 | €125,000 | €125,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,809 | €680,387 | +€649,579 | +2108.4% |
| Deferred charges and accrued income | 490/1 | €5,846 | €6,435 | +€589 | +10.1% |
| Total equity and liabilities | 10/49 | €8,250,015 | €12,858,998 | +€4.6m | +55.9% |
| Equity | 10/15 | €1,631,272 | €1,989,057 | +€357,785 | +21.9% |
| Contributions | 10/11 | €2,064,500 | €2,064,500 | = | 0.0% |
| Capital | 10 | €2,064,500 | €2,064,500 | = | 0.0% |
| Issued capital | 100 | €2,064,500 | €2,064,500 | = | 0.0% |
| Reserves | 13 | €782,843 | €770,299 | -€12,545 | -1.6% |
| Tax-exempt reserves | 132 | €782,843 | €770,299 | -€12,545 | -1.6% |
| Profit (loss) carried forward | 14 | -€1,216,071 | -€845,742 | +€370,330 | +30.5% |
| Provisions and deferred taxes | 16 | €260,948 | €256,766 | -€4,182 | -1.6% |
| Deferred taxes | 168 | €260,948 | €256,766 | -€4,182 | -1.6% |
| Amounts payable | 17/49 | €6,357,795 | €10,613,175 | +€4.3m | +66.9% |
| Amounts payable after more than one year | 17 | €1,570,365 | €1,456,268 | -€114,097 | -7.3% |
| Financial debts | 170/4 | €1,370,365 | €1,256,268 | -€114,097 | -8.3% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,787,430 | €9,151,824 | +€4.4m | +91.2% |
| Current portion of amounts payable after more than one year | 42 | €412,542 | €414,097 | +€1,555 | +0.4% |
| Trade debts | 44 | €16,867 | €37,218 | +€20,351 | +120.7% |
| Suppliers | 440/4 | €16,867 | €37,218 | +€20,351 | +120.7% |
| Taxes, remuneration and social security | 45 | €19,923 | €13,140 | -€6,783 | -34.0% |
| Taxes | 450/3 | €6,509 | €13,105 | +€6,597 | +101.4% |
| Remuneration and social security | 454/9 | €13,414 | €35 | -€13,380 | -99.7% |
| Other amounts payable | 47/48 | €4,338,099 | €8,687,370 | +€4.3m | +100.3% |
| Accrued charges and deferred income | 492/3 | - | €5,083 | +€5,083 | |
| Non-recurring operating income | 76A | €901 | €620 | -€281 | -31.2% |
| Remuneration, social security and pensions | 62 | €60,798 | €59,222 | -€1,576 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,162 | €103,198 | +€35 | 0.0% |
| Other operating charges | 640/8 | €22,247 | €20,210 | -€2,037 | -9.2% |
| Gross operating margin | 9900 | -€97,343 | -€30,047 | +€67,297 | +69.1% |
| Operating profit (loss) | 9901 | -€283,551 | -€212,677 | +€70,874 | +25.0% |
| Financial income | 75/76B | €64,547 | €593,099 | +€528,553 | +818.9% |
| Recurring financial income | 75 | €64,547 | €52,099 | -€12,447 | -19.3% |
| Non-recurring financial income | 76B | - | €541,000 | +€541,000 | |
| Financial charges | 65/66B | €30,892 | €26,819 | -€4,073 | -13.2% |
| Recurring financial charges | 65 | €29,559 | €26,819 | -€2,740 | -9.3% |
| Non-recurring financial charges | 66B | €1,333 | - | -€1,333 | |
| Profit (loss) for the period before taxes | 9903 | -€249,897 | €353,603 | +€603,500 | |
| Transfer from deferred taxes | 780 | €4,182 | €4,182 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€245,715 | €357,785 | +€603,500 | |
| Transfer from tax-exempt reserves | 789 | €12,545 | €12,545 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€233,170 | €370,330 | +€603,500 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.