HENS PIGLAND: 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.
HENS PIGLAND
Largest movements
- Current investments +€488,894
up €488,894 (+243%), from €201,428 to €690,323
- Tangible fixed assets +€247,881
up €247,881 (+11.6%), from €2.1m to €2.4m
of which Land and buildings: +€264,281
- Receivables within one year +€133,433
up €133,433 (+127%), from €104,717 to €238,150
of which Trade receivables: +€144,785
- Profit (loss) carried forward +€896,676
up €896,676 (+127%), from €705,779 to €1.6m
- Trade debts -€246,023
down €246,023 (-62.7%), from €392,626 to €146,603
- Reserves +€181,818
up €181,818 (+14.2%), from €1.3m to €1.5m
of which Distributable reserves: +€181,818
- Debts after one year -€91,382
down €91,382 (-21.5%), from €424,794 to €333,411
- Tax, wage and social debts +€76,397
up €76,397 (+125%), from €60,996 to €137,393
- Gross operating margin +€302,226
up €302,226 (+22.2%), from €1.4m to €1.7m
- Taxes +€78,988
up €78,988 (+25.3%), from €312,100 to €391,087
- Depreciation +€41,397
up €41,397 (+27.6%), from €150,046 to €191,444
- Financial income +€27,051
up €27,051 (+170%), from €15,937 to €42,989
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 | €3,131,683 | €3,990,210 | +€858,528 | +27.4% |
| Fixed assets | 21/28 | €2,237,827 | €2,493,742 | +€255,914 | +11.4% |
| Intangible fixed assets | 21 | - | €8,034 | +€8,034 | |
| Tangible fixed assets | 22/27 | €2,134,452 | €2,382,333 | +€247,881 | +11.6% |
| Land and buildings | 22 | €1,649,080 | €1,913,362 | +€264,281 | +16.0% |
| Plant, machinery and equipment | 23 | €473,768 | €456,753 | -€17,015 | -3.6% |
| Furniture and vehicles | 24 | €11,604 | €12,218 | +€614 | +5.3% |
| Financial fixed assets | 28 | €103,375 | €103,375 | = | 0.0% |
| Current assets | 29/58 | €893,856 | €1,496,469 | +€602,613 | +67.4% |
| Stocks and contracts in progress | 3 | €309,420 | €306,075 | -€3,345 | -1.1% |
| Stocks | 30/36 | €309,420 | €306,075 | -€3,345 | -1.1% |
| Amounts receivable within one year | 40/41 | €104,717 | €238,150 | +€133,433 | +127% |
| Trade receivables | 40 | €93,365 | €238,150 | +€144,785 | +155% |
| Other amounts receivable | 41 | €11,352 | €0 | -€11,352 | -100% |
| Current investments | 50/53 | €201,428 | €690,323 | +€488,894 | +243% |
| Cash at bank and in hand | 54/58 | €268,193 | €250,287 | -€17,906 | -6.7% |
| Deferred charges and accrued income | 490/1 | €10,097 | €11,634 | +€1,537 | +15.2% |
| Total equity and liabilities | 10/49 | €3,131,683 | €3,990,210 | +€858,528 | +27.4% |
| Equity | 10/15 | €2,058,003 | €3,139,454 | +€1.1m | +52.5% |
| Contributions | 10/11 | €31,125 | €31,125 | = | 0.0% |
| Reserves | 13 | €1,281,532 | €1,463,351 | +€181,818 | +14.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,281,532 | €1,463,351 | +€181,818 | +14.2% |
| Profit (loss) carried forward | 14 | €705,779 | €1,602,455 | +€896,676 | +127% |
| Investment grants | 15 | €39,566 | €42,524 | +€2,957 | +7.5% |
| Provisions and deferred taxes | 16 | €2,082 | €2,238 | +€156 | +7.5% |
| Deferred taxes | 168 | €2,082 | €2,238 | +€156 | +7.5% |
| Amounts payable | 17/49 | €1,071,597 | €848,518 | -€223,079 | -20.8% |
| Amounts payable after more than one year | 17 | €424,794 | €333,411 | -€91,382 | -21.5% |
| Financial debts | 170/4 | €424,794 | €333,411 | -€91,382 | -21.5% |
| Amounts payable within one year | 42/48 | €640,639 | €483,468 | -€157,171 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €91,382 | €91,382 | = | 0.0% |
| Trade debts | 44 | €392,626 | €146,603 | -€246,023 | -62.7% |
| Suppliers | 440/4 | €392,626 | €146,603 | -€246,023 | -62.7% |
| Taxes, remuneration and social security | 45 | €60,996 | €137,393 | +€76,397 | +125% |
| Taxes | 450/3 | €60,996 | €137,393 | +€76,397 | +125% |
| Other amounts payable | 47/48 | €95,634 | €108,089 | +€12,455 | +13.0% |
| Accrued charges and deferred income | 492/3 | €6,165 | €31,639 | +€25,474 | +413% |
| Non-recurring operating income | 76A | €0 | €35,350 | +€35,350 | |
| Remuneration, social security and pensions | 62 | €2,844 | €2,977 | +€133 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,046 | €191,444 | +€41,397 | +27.6% |
| Other operating charges | 640/8 | €12,024 | €11,524 | -€499 | -4.2% |
| Gross operating margin | 9900 | €1,363,227 | €1,665,453 | +€302,226 | +22.2% |
| Operating profit (loss) | 9901 | €1,198,313 | €1,459,509 | +€261,196 | +21.8% |
| Financial income | 75/76B | €15,937 | €42,989 | +€27,051 | +170% |
| Recurring financial income | 75 | €15,937 | €42,989 | +€27,051 | +170% |
| Financial charges | 65/66B | €25,117 | €33,828 | +€8,710 | +34.7% |
| Recurring financial charges | 65 | €25,117 | €33,828 | +€8,710 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €1,189,133 | €1,468,670 | +€279,537 | +23.5% |
| Transfer from deferred taxes | 780 | €611 | €912 | +€301 | +49.3% |
| Income taxes | 67/77 | €312,100 | €391,087 | +€78,988 | +25.3% |
| Profit (loss) for the period | 9904 | €877,644 | €1,078,494 | +€200,850 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €877,644 | €1,078,494 | +€200,850 | +22.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.