HG Digital Transformations: 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.
HG Digital Transformations
Largest movements
- Cash -€38,199
down €38,199 (-40.2%), from €94,989 to €56,790
mainly Trade debts (-€36,388) and Net result for the year (-€32,533)
- Receivables within one year -€35,457
down €35,457 (-38.7%), from €91,708 to €56,252
of which Trade receivables: -€40,049
- Tangible fixed assets -€3,736
down €3,736 (-41.5%), from €8,999 to €5,263
- Trade debts -€36,388
down €36,388 (-67.5%), from €53,933 to €17,545
- Reserves -€32,533
down €32,533 (-29.2%), from €111,245 to €78,712
- Tax, wage and social debts -€7,562
down €7,562 (-29.1%), from €26,002 to €18,440
of which Taxes: -€5,406
- Gross operating margin -€85,814
down €85,814, from €74,044 to -€11,770
- Taxes -€15,010
down €15,010 (-94.9%), from €15,822 to €813
- Financial charges -€1,837
down €1,837 (-42.4%), from €4,336 to €2,499
- Financial income +€1,141
up €1,141 (+272.2%), from €419 to €1,561
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.
Cash bridge derived
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 | €196,180 | €120,073 | -€76,107 | -38.8% |
| Fixed assets | 21/28 | €8,999 | €5,263 | -€3,736 | -41.5% |
| Tangible fixed assets | 22/27 | €8,999 | €5,263 | -€3,736 | -41.5% |
| Furniture and vehicles | 24 | €8,999 | €5,263 | -€3,736 | -41.5% |
| Current assets | 29/58 | €187,181 | €114,810 | -€72,371 | -38.7% |
| Amounts receivable within one year | 40/41 | €91,708 | €56,252 | -€35,457 | -38.7% |
| Trade receivables | 40 | €53,839 | €13,790 | -€40,049 | -74.4% |
| Other amounts receivable | 41 | €37,869 | €42,462 | +€4,593 | +12.1% |
| Cash at bank and in hand | 54/58 | €94,989 | €56,790 | -€38,199 | -40.2% |
| Deferred charges and accrued income | 490/1 | €484 | €1,768 | +€1,285 | +265.6% |
| Total equity and liabilities | 10/49 | €196,180 | €120,073 | -€76,107 | -38.8% |
| Equity | 10/15 | €116,245 | €83,712 | -€32,533 | -28.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,245 | €78,712 | -€32,533 | -29.2% |
| Distributable reserves | 133 | €111,245 | €78,712 | -€32,533 | -29.2% |
| Amounts payable | 17/49 | €79,935 | €36,361 | -€43,574 | -54.5% |
| Amounts payable within one year | 42/48 | €79,935 | €35,985 | -€43,950 | -55.0% |
| Trade debts | 44 | €53,933 | €17,545 | -€36,388 | -67.5% |
| Suppliers | 440/4 | €53,933 | €17,545 | -€36,388 | -67.5% |
| Taxes, remuneration and social security | 45 | €26,002 | €18,440 | -€7,562 | -29.1% |
| Taxes | 450/3 | €23,846 | €18,440 | -€5,406 | -22.7% |
| Remuneration and social security | 454/9 | €2,156 | €0 | -€2,156 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €376 | +€376 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,724 | €4,231 | +€508 | +13.6% |
| Other operating charges | 640/8 | €1,613 | €1,145 | -€469 | -29.0% |
| Non-recurring operating charges | 66A | €3,345 | €13,636 | +€10,292 | +307.7% |
| Gross operating margin | 9900 | €74,044 | -€11,770 | -€85,814 | |
| Operating profit (loss) | 9901 | €65,363 | -€30,782 | -€96,145 | |
| Financial income | 75/76B | €419 | €1,561 | +€1,141 | +272.2% |
| Recurring financial income | 75 | €419 | €1,561 | +€1,141 | +272.2% |
| Financial charges | 65/66B | €4,336 | €2,499 | -€1,837 | -42.4% |
| Recurring financial charges | 65 | €4,336 | €2,499 | -€1,837 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €61,446 | -€31,721 | -€93,167 | |
| Income taxes | 67/77 | €15,822 | €813 | -€15,010 | -94.9% |
| Profit (loss) for the period | 9904 | €45,624 | -€32,533 | -€78,157 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,624 | -€32,533 | -€78,157 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.