HG Constructies: what changed
HG Constructies
Largest movements
- Receivables within one year -€20,840
down €20,840 (-23.7%), from €87,854 to €67,014
of which Trade receivables: -€18,269
- Tangible fixed assets -€7,202
down €7,202 (-11.7%), from €61,322 to €54,121
of which Land and buildings: -€6,338
- Cash -€3,093
down €3,093 (-60.5%), from €5,113 to €2,021
mainly Contributions, distributions and other (-€49,111) and Trade debts (-€22,195)
- Reserves -€35,643
down €35,643 (-72.6%), from €49,111 to €13,468
- Other debts +€30,732
up €30,732 (+210%), from €14,611 to €45,343
- Trade debts -€22,195
down €22,195 (-83.3%), from €26,637 to €4,442
- Debts after one year -€12,687
down €12,687 (-29.6%), from €42,931 to €30,244
- Tax, wage and social debts +€10,337
up €10,337 (+516%), from €2,004 to €12,341
of which Taxes: +€7,367
- Financial income -€14,085
down €14,085 (-99.1%), from €14,213 to €128
of which Non-recurring financial income: -€13,804
- Staff costs +€10,858
up €10,858 (+18.8%), from €57,769 to €68,627
- Taxes -€6,268
down €6,268 (-59.6%), from €10,526 to €4,257
- Gross operating margin +€3,341
up €3,341 (+3.2%), from €104,804 to €108,144
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,771 | €137,167 | -€29,604 | -17.8% |
| Fixed assets | 21/28 | €61,322 | €54,121 | -€7,202 | -11.7% |
| Tangible fixed assets | 22/27 | €61,322 | €54,121 | -€7,202 | -11.7% |
| Land and buildings | 22 | €60,458 | €54,121 | -€6,338 | -10.5% |
| Furniture and vehicles | 24 | €864 | - | -€864 | |
| Current assets | 29/58 | €105,449 | €83,046 | -€22,403 | -21.2% |
| Stocks and contracts in progress | 3 | €9,080 | €10,519 | +€1,439 | +15.8% |
| Stocks | 30/36 | €9,080 | €10,519 | +€1,439 | +15.8% |
| Amounts receivable within one year | 40/41 | €87,854 | €67,014 | -€20,840 | -23.7% |
| Trade receivables | 40 | €74,010 | €55,741 | -€18,269 | -24.7% |
| Other amounts receivable | 41 | €13,843 | €11,273 | -€2,570 | -18.6% |
| Cash at bank and in hand | 54/58 | €5,113 | €2,021 | -€3,093 | -60.5% |
| Deferred charges and accrued income | 490/1 | €3,402 | €3,492 | +€91 | +2.7% |
| Total equity and liabilities | 10/49 | €166,771 | €137,167 | -€29,604 | -17.8% |
| Equity | 10/15 | €67,711 | €32,068 | -€35,643 | -52.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,111 | €13,468 | -€35,643 | -72.6% |
| Distributable reserves | 133 | €49,111 | €13,468 | -€35,643 | -72.6% |
| Amounts payable | 17/49 | €99,060 | €105,099 | +€6,039 | +6.1% |
| Amounts payable after more than one year | 17 | €42,931 | €30,244 | -€12,687 | -29.6% |
| Financial debts | 170/4 | €42,931 | €30,244 | -€12,687 | -29.6% |
| Amounts payable within one year | 42/48 | €56,080 | €74,813 | +€18,733 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €12,828 | €12,687 | -€141 | -1.1% |
| Trade debts | 44 | €26,637 | €4,442 | -€22,195 | -83.3% |
| Suppliers | 440/4 | €26,637 | €4,442 | -€22,195 | -83.3% |
| Taxes, remuneration and social security | 45 | €2,004 | €12,341 | +€10,337 | +516% |
| Taxes | 450/3 | €526 | €7,892 | +€7,367 | +1,401% |
| Remuneration and social security | 454/9 | €1,478 | €4,448 | +€2,971 | +201% |
| Other amounts payable | 47/48 | €14,611 | €45,343 | +€30,732 | +210% |
| Accrued charges and deferred income | 492/3 | €49 | €42 | -€8 | -15.3% |
| Remuneration, social security and pensions | 62 | €57,769 | €68,627 | +€10,858 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,705 | €13,602 | -€103 | -0.8% |
| Other operating charges | 640/8 | €1,892 | €1,903 | +€11 | +0.6% |
| Gross operating margin | 9900 | €104,804 | €108,144 | +€3,341 | +3.2% |
| Operating profit (loss) | 9901 | €31,438 | €24,013 | -€7,426 | -23.6% |
| Financial income | 75/76B | €14,213 | €128 | -€14,085 | -99.1% |
| Recurring financial income | 75 | €297 | €16 | -€280 | -94.5% |
| Non-recurring financial income | 76B | €13,916 | €112 | -€13,804 | -99.2% |
| Financial charges | 65/66B | €5,487 | €6,416 | +€929 | +16.9% |
| Recurring financial charges | 65 | €5,487 | €5,605 | +€117 | +2.1% |
| Non-recurring financial charges | 66B | - | €811 | +€811 | |
| Profit (loss) for the period before taxes | 9903 | €40,164 | €17,725 | -€22,439 | -55.9% |
| Income taxes | 67/77 | €10,526 | €4,257 | -€6,268 | -59.6% |
| Profit (loss) for the period | 9904 | €29,639 | €13,468 | -€16,171 | -54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,639 | €13,468 | -€16,171 | -54.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.