HG GROUP'S: 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 GROUP'S
Largest movements
- Receivables within one year +€1,638
up €1,638 (+106.1%), from €1,544 to €3,183
of which Trade receivables: +€1,250
- Cash -€1,393
down €1,393 (-27.1%), from €5,132 to €3,739
mainly Receivables within one year (-€1,638) and Investment in fixed assets (net) (-€1,555)
- Tangible fixed assets +€515
up €515 (+44.0%), from €1,171 to €1,685
of which Furniture and vehicles: +€570
- Tax, wage and social debts +€1,919
up €1,919 (+147.6%), from €1,300 to €3,218
of which Remuneration and social security: +€1,847
- Other debts -€1,259
no longer reported in 2025 (was €1,259)
- Profit (loss) carried forward +€497
up €497 (+7.0%), from -€7,143 to -€6,647
- Trade debts -€396
down €396 (-57.0%), from €695 to €299
- Gross operating margin +€1,520
up €1,520 (+60.2%), from €2,527 to €4,047
- Depreciation +€694
up €694 (+200.0%), from €347 to €1,040
- Other operating charges +€566
up €566 (+99.6%), from €568 to €1,134
- Financial charges +€342
up €342 (+41.9%), from €816 to €1,158
- Taxes +€71
up €71 (+48.5%), from €147 to €218
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 | €7,847 | €8,607 | +€760 | +9.7% |
| Fixed assets | 21/28 | €1,171 | €1,685 | +€515 | +44.0% |
| Tangible fixed assets | 22/27 | €1,171 | €1,685 | +€515 | +44.0% |
| Plant, machinery and equipment | 23 | €130 | €74 | -€55 | -42.7% |
| Furniture and vehicles | 24 | €1,041 | €1,611 | +€570 | +54.8% |
| Current assets | 29/58 | €6,677 | €6,922 | +€245 | +3.7% |
| Amounts receivable within one year | 40/41 | €1,544 | €3,183 | +€1,638 | +106.1% |
| Trade receivables | 40 | - | €1,250 | +€1,250 | |
| Other amounts receivable | 41 | €1,544 | €1,933 | +€388 | +25.1% |
| Cash at bank and in hand | 54/58 | €5,132 | €3,739 | -€1,393 | -27.1% |
| Total equity and liabilities | 10/49 | €7,847 | €8,607 | +€760 | +9.7% |
| Equity | 10/15 | €4,593 | €5,089 | +€497 | +10.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €5,736 | €5,736 | = | 0.0% |
| Distributable reserves | 133 | €5,736 | €5,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,143 | -€6,647 | +€497 | +7.0% |
| Amounts payable | 17/49 | €3,254 | €3,518 | +€263 | +8.1% |
| Amounts payable within one year | 42/48 | €3,254 | €3,518 | +€263 | +8.1% |
| Trade debts | 44 | €695 | €299 | -€396 | -57.0% |
| Suppliers | 440/4 | €695 | €299 | -€396 | -57.0% |
| Taxes, remuneration and social security | 45 | €1,300 | €3,218 | +€1,919 | +147.6% |
| Taxes | 450/3 | €147 | €218 | +€71 | +48.5% |
| Remuneration and social security | 454/9 | €1,153 | €3,000 | +€1,847 | +160.3% |
| Other amounts payable | 47/48 | €1,259 | - | -€1,259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €347 | €1,040 | +€694 | +200.0% |
| Other operating charges | 640/8 | €568 | €1,134 | +€566 | +99.6% |
| Non-recurring operating charges | 66A | €7,792 | - | -€7,792 | |
| Gross operating margin | 9900 | €2,527 | €4,047 | +€1,520 | +60.2% |
| Operating profit (loss) | 9901 | -€6,180 | €1,873 | +€8,053 | |
| Financial charges | 65/66B | €816 | €1,158 | +€342 | +41.9% |
| Recurring financial charges | 65 | €816 | €1,158 | +€342 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,996 | €715 | +€7,711 | |
| Income taxes | 67/77 | €147 | €218 | +€71 | +48.5% |
| Profit (loss) for the period | 9904 | -€7,143 | €497 | +€7,640 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,143 | €497 | +€7,640 |
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 9 October 2026 via checked.be.