HG IMMO: 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 IMMO
Largest movements
- Cash +€22,507
up €22,507 (+305.6%), from €7,365 to €29,872
mainly Depreciation (+€25,071) and Net result for the year (+€20,881)
- Tangible fixed assets -€12,894
down €12,894 (-1.7%), from €759,756 to €746,862
of which Land and buildings: -€21,598
- Profit (loss) carried forward +€20,881
up €20,881 (+15.5%), from -€135,137 to -€114,256
- Debts after one year -€16,172
down €16,172 (-3.8%), from €423,489 to €407,317
- Gross operating margin +€24,490
up €24,490 (+61.0%), from €40,145 to €64,635
- Depreciation +€1,641
up €1,641 (+7.0%), from €23,431 to €25,071
- Financial charges -€659
down €659 (-3.4%), from €19,343 to €18,684
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 | €767,706 | €777,344 | +€9,638 | +1.3% |
| Fixed assets | 21/28 | €759,756 | €746,862 | -€12,894 | -1.7% |
| Tangible fixed assets | 22/27 | €759,756 | €746,862 | -€12,894 | -1.7% |
| Land and buildings | 22 | €744,307 | €722,709 | -€21,598 | -2.9% |
| Plant, machinery and equipment | 23 | €10,251 | €9,435 | -€816 | -8.0% |
| Furniture and vehicles | 24 | €5,198 | €14,717 | +€9,519 | +183.1% |
| Current assets | 29/58 | €7,949 | €30,482 | +€22,533 | +283.4% |
| Cash at bank and in hand | 54/58 | €7,365 | €29,872 | +€22,507 | +305.6% |
| Deferred charges and accrued income | 490/1 | €585 | €610 | +€26 | +4.4% |
| Total equity and liabilities | 10/49 | €767,706 | €777,344 | +€9,638 | +1.3% |
| Equity | 10/15 | -€35,137 | -€14,256 | +€20,881 | +59.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,137 | -€114,256 | +€20,881 | +15.5% |
| Amounts payable | 17/49 | €802,842 | €791,600 | -€11,242 | -1.4% |
| Amounts payable after more than one year | 17 | €423,489 | €407,317 | -€16,172 | -3.8% |
| Financial debts | 170/4 | €423,489 | €407,317 | -€16,172 | -3.8% |
| Amounts payable within one year | 42/48 | €377,748 | €382,739 | +€4,991 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €18,325 | €17,612 | -€713 | -3.9% |
| Trade debts | 44 | - | €1,010 | +€1,010 | |
| Suppliers | 440/4 | - | €1,010 | +€1,010 | |
| Other amounts payable | 47/48 | €359,423 | €364,117 | +€4,694 | +1.3% |
| Accrued charges and deferred income | 492/3 | €1,605 | €1,544 | -€61 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,431 | €25,071 | +€1,641 | +7.0% |
| Gross operating margin | 9900 | €40,145 | €64,635 | +€24,490 | +61.0% |
| Operating profit (loss) | 9901 | €16,714 | €39,564 | +€22,850 | +136.7% |
| Financial charges | 65/66B | €19,343 | €18,684 | -€659 | -3.4% |
| Recurring financial charges | 65 | €19,343 | €18,684 | -€659 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,629 | €20,881 | +€23,509 | |
| Profit (loss) for the period | 9904 | -€2,629 | €20,881 | +€23,509 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,629 | €20,881 | +€23,509 |
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 12 October 2026 via checked.be.