Hg: 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.
Hg
Largest movements
- Current investments +€153,960
up €153,960 (+79.0%), from €195,000 to €348,960
- Cash -€51,568
down €51,568 (-35.9%), from €143,460 to €91,892
mainly Current investments (-€153,960) and Contributions, distributions and other (-€120,000)
- Receivables within one year +€7,418
up €7,418, from €0 to €7,418
of which Other amounts receivable: +€7,418
- Reserves +€116,740
up €116,740 (+80.8%), from €144,544 to €261,283
- Tax, wage and social debts -€15,595
down €15,595 (-19.5%), from €79,898 to €64,303
of which Taxes: -€15,595
- Other debts +€9,946
up €9,946 (+8.8%), from €112,751 to €122,696
- Gross operating margin +€107,580
up €107,580 (+53.9%), from €199,711 to €307,291
- Taxes +€27,336
up €27,336 (+60.4%), from €45,253 to €72,589
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 | €343,172 | €451,562 | +€108,390 | +31.6% |
| Fixed assets | 21/28 | €1,017 | €582 | -€435 | -42.8% |
| Tangible fixed assets | 22/27 | €1,017 | €582 | -€435 | -42.8% |
| Furniture and vehicles | 24 | €1,017 | €582 | -€435 | -42.8% |
| Current assets | 29/58 | €342,156 | €450,980 | +€108,824 | +31.8% |
| Amounts receivable within one year | 40/41 | €0 | €7,418 | +€7,418 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €7,418 | +€7,418 | |
| Current investments | 50/53 | €195,000 | €348,960 | +€153,960 | +79.0% |
| Cash at bank and in hand | 54/58 | €143,460 | €91,892 | -€51,568 | -35.9% |
| Deferred charges and accrued income | 490/1 | €3,696 | €2,710 | -€986 | -26.7% |
| Total equity and liabilities | 10/49 | €343,172 | €451,562 | +€108,390 | +31.6% |
| Equity | 10/15 | €147,544 | €264,283 | +€116,740 | +79.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €144,544 | €261,283 | +€116,740 | +80.8% |
| Distributable reserves | 133 | €144,544 | €261,283 | +€116,740 | +80.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €195,628 | €187,278 | -€8,350 | -4.3% |
| Amounts payable within one year | 42/48 | €193,954 | €187,278 | -€6,676 | -3.4% |
| Trade debts | 44 | €1,306 | €279 | -€1,027 | -78.6% |
| Suppliers | 440/4 | €1,306 | €279 | -€1,027 | -78.6% |
| Taxes, remuneration and social security | 45 | €79,898 | €64,303 | -€15,595 | -19.5% |
| Taxes | 450/3 | €72,398 | €56,803 | -€15,595 | -21.5% |
| Remuneration and social security | 454/9 | €7,500 | €7,500 | = | 0.0% |
| Other amounts payable | 47/48 | €112,751 | €122,696 | +€9,946 | +8.8% |
| Accrued charges and deferred income | 492/3 | €1,674 | €0 | -€1,674 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287 | €435 | +€147 | +51.2% |
| Other operating charges | 640/8 | €126 | €218 | +€92 | +73.0% |
| Gross operating margin | 9900 | €199,711 | €307,291 | +€107,580 | +53.9% |
| Operating profit (loss) | 9901 | €199,298 | €306,638 | +€107,340 | +53.9% |
| Financial income | 75/76B | - | €2,731 | +€2,731 | |
| Recurring financial income | 75 | - | €2,731 | +€2,731 | |
| Financial charges | 65/66B | €69 | €40 | -€28 | -41.0% |
| Recurring financial charges | 65 | €69 | €40 | -€28 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €199,229 | €309,328 | +€110,099 | +55.3% |
| Income taxes | 67/77 | €45,253 | €72,589 | +€27,336 | +60.4% |
| Profit (loss) for the period | 9904 | €153,976 | €236,740 | +€82,763 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €153,976 | €236,740 | +€82,763 | +53.8% |
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 18 October 2026 via checked.be.