HF CONCEPT: 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.
HF CONCEPT
Largest movements
- Cash +€52,680
up €52,680 (+138.2%), from €38,128 to €90,808
mainly Trade debts (+€263,470) and Tax, wage and social debts (+€44,722)
- Stocks and contracts -€30,200
down €30,200 (-7.9%), from €381,803 to €351,603
- Receivables within one year -€14,880
down €14,880 (-16.4%), from €90,716 to €75,836
- Deferred charges and accrued income +€9,601
new in 2024: €9,601
- Advances received -€265,815
no longer reported in 2024 (was €265,815)
- Trade debts +€263,470
up €263,470 (+517.3%), from €50,928 to €314,398
- Tax, wage and social debts +€44,722
up €44,722 (+50.7%), from €88,130 to €132,852
of which Taxes: +€48,187
- Other debts -€21,646
down €21,646 (-9.1%), from €238,195 to €216,549
- Gross operating margin -€58,029
down €58,029 (-33.3%), from €174,032 to €116,003
- Other operating charges -€35,423
down €35,423 (-75.1%), from €47,147 to €11,724
- Staff costs -€10,079
down €10,079 (-16.2%), from €62,247 to €52,168
- Financial charges -€7,586
down €7,586 (-61.4%), from €12,360 to €4,775
- Depreciation +€3,482
up €3,482 (+17.6%), from €19,782 to €23,265
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €838,981 | €859,179 | +€20,199 | +2.4% |
| Fixed assets | 21/28 | €299,607 | €302,605 | +€2,998 | +1.0% |
| Tangible fixed assets | 22/27 | €272,307 | €275,305 | +€2,998 | +1.1% |
| Land and buildings | 22 | €243,272 | €237,148 | -€6,124 | -2.5% |
| Plant, machinery and equipment | 23 | €8,208 | €4,873 | -€3,335 | -40.6% |
| Furniture and vehicles | 24 | €20,827 | €33,284 | +€12,457 | +59.8% |
| Financial fixed assets | 28 | €27,300 | €27,300 | = | 0.0% |
| Current assets | 29/58 | €539,374 | €556,574 | +€17,201 | +3.2% |
| Stocks and contracts in progress | 3 | €381,803 | €351,603 | -€30,200 | -7.9% |
| Stocks | 30/36 | €381,803 | €351,603 | -€30,200 | -7.9% |
| Amounts receivable within one year | 40/41 | €90,716 | €75,836 | -€14,880 | -16.4% |
| Trade receivables | 40 | €90,716 | €75,836 | -€14,880 | -16.4% |
| Current investments | 50/53 | €28,727 | €28,727 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,128 | €90,808 | +€52,680 | +138.2% |
| Deferred charges and accrued income | 490/1 | - | €9,601 | +€9,601 | |
| Total equity and liabilities | 10/49 | €838,981 | €859,179 | +€20,199 | +2.4% |
| Equity | 10/15 | €195,913 | €195,380 | -€533 | -0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,453 | €174,920 | -€533 | -0.3% |
| Amounts payable | 17/49 | €643,068 | €663,799 | +€20,732 | +3.2% |
| Amounts payable within one year | 42/48 | €643,068 | €663,799 | +€20,732 | +3.2% |
| Trade debts | 44 | €50,928 | €314,398 | +€263,470 | +517.3% |
| Suppliers | 440/4 | €50,928 | €314,398 | +€263,470 | +517.3% |
| Advances received on contracts in progress | 46 | €265,815 | - | -€265,815 | |
| Taxes, remuneration and social security | 45 | €88,130 | €132,852 | +€44,722 | +50.7% |
| Taxes | 450/3 | €61,972 | €110,159 | +€48,187 | +77.8% |
| Remuneration and social security | 454/9 | €26,157 | €22,693 | -€3,464 | -13.2% |
| Other amounts payable | 47/48 | €238,195 | €216,549 | -€21,646 | -9.1% |
| Remuneration, social security and pensions | 62 | €62,247 | €52,168 | -€10,079 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,782 | €23,265 | +€3,482 | +17.6% |
| Other operating charges | 640/8 | €47,147 | €11,724 | -€35,423 | -75.1% |
| Gross operating margin | 9900 | €174,032 | €116,003 | -€58,029 | -33.3% |
| Operating profit (loss) | 9901 | €44,855 | €28,847 | -€16,009 | -35.7% |
| Financial income | 75/76B | €47 | €19 | -€29 | -60.4% |
| Recurring financial income | 75 | €47 | €19 | -€29 | -60.4% |
| Financial charges | 65/66B | €12,360 | €4,775 | -€7,586 | -61.4% |
| Recurring financial charges | 65 | €12,360 | €4,775 | -€7,586 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €32,542 | €24,091 | -€8,452 | -26.0% |
| Income taxes | 67/77 | €21,723 | €24,623 | +€2,901 | +13.4% |
| Profit (loss) for the period | 9904 | €10,820 | -€533 | -€11,353 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,820 | -€533 | -€11,353 |
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 4 October 2026 via checked.be.