HG Real: what changed
What changed
HG Real
NACE 62.200, Computer consultancy and computer facilities management
filed annual accounts (NBB)
Net result for the year
€134,589
2024 · €149,278-€14,689
Equity
€652,544
2024 · €517,955+€134,589
Cash
€47,396
2024 · €26,109+€21,287
Balance sheet total
€1.2m
2024 · €1.2m+€57,439
Largest movements
Assets
- Receivables within one year +€24,865
up €24,865 (+106%), from €23,527 to €48,392
of which Trade receivables: +€13,954
- Cash +€21,287
up €21,287 (+81.5%), from €26,109 to €47,396
mainly Net result for the year (+€134,589) and Depreciation (+€27,865)
Equity and liabilities
- Reserves +€134,589
up €134,589 (+26.4%), from €510,455 to €645,044
of which Distributable reserves: +€134,589
- Tax, wage and social debts -€43,338
down €43,338 (-77.6%), from €55,832 to €12,494
- Debts after one year -€32,545
down €32,545 (-11.3%), from €288,038 to €255,493
Income statement
- Gross operating margin -€26,854
down €26,854 (-9.3%), from €288,488 to €261,634
- Taxes -€16,851
down €16,851 (-22.7%), from €74,278 to €57,427
- Depreciation +€3,519
up €3,519 (+14.5%), from €24,346 to €27,865
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.
Result 2024
€149,278
Gross operating margin
-€26,854
Staff costs
-€951
Depreciation
-€3,519
Other operating charges
+€199
Financial income
-€1,116
Financial charges
+€700
Taxes
+€16,851
Result 2025
€134,589
raises the resultlowers the result
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.
From operations
+€89,984
Investment
-€35,729
Financing
-€32,968
Cash 2024
€26,109
From operations (derived)
+€89,984
Net result for the year
+€134,589
Depreciation
+€27,865
Receivables within one year
-€24,865
Deferred charges and accrued income
-€3,423
Tax, wage and social debts
-€43,338
Other debts
-€844
Investment (derived)
-€35,729
Investment in fixed assets (net)
-€35,729
Financing
-€32,968
Debts after one year
-€32,545
Current portion of long-term debt
-€424
Cash 2025
€47,396
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,158,155 | €1,215,594 | +€57,439 | +5.0% |
| Fixed assets | 21/28 | €1,108,519 | €1,116,383 | +€7,864 | +0.7% |
| Tangible fixed assets | 22/27 | €1,108,519 | €1,116,383 | +€7,864 | +0.7% |
| Land and buildings | 22 | €1,096,954 | €1,096,726 | -€228 | 0.0% |
| Plant, machinery and equipment | 23 | €7,247 | €16,849 | +€9,603 | +133% |
| Furniture and vehicles | 24 | €4,318 | €2,808 | -€1,511 | -35.0% |
| Current assets | 29/58 | €49,636 | €99,211 | +€49,575 | +99.9% |
| Amounts receivable within one year | 40/41 | €23,527 | €48,392 | +€24,865 | +106% |
| Trade receivables | 40 | €22,784 | €36,737 | +€13,954 | +61.2% |
| Other amounts receivable | 41 | €743 | €11,655 | +€10,911 | +1,468% |
| Cash at bank and in hand | 54/58 | €26,109 | €47,396 | +€21,287 | +81.5% |
| Deferred charges and accrued income | 490/1 | - | €3,423 | +€3,423 | |
| Total equity and liabilities | 10/49 | €1,158,155 | €1,215,594 | +€57,439 | +5.0% |
| Equity | 10/15 | €517,955 | €652,544 | +€134,589 | +26.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €510,455 | €645,044 | +€134,589 | +26.4% |
| Non-distributable reserves | 130/1 | €750 | €750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €750 | €750 | = | 0.0% |
| Distributable reserves | 133 | €509,705 | €644,294 | +€134,589 | +26.4% |
| Amounts payable | 17/49 | €640,200 | €563,051 | -€77,149 | -12.1% |
| Amounts payable after more than one year | 17 | €288,038 | €255,493 | -€32,545 | -11.3% |
| Financial debts | 170/4 | €288,038 | €255,493 | -€32,545 | -11.3% |
| Amounts payable within one year | 42/48 | €352,162 | €307,558 | -€44,605 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €49,031 | €48,608 | -€424 | -0.9% |
| Taxes, remuneration and social security | 45 | €55,832 | €12,494 | -€43,338 | -77.6% |
| Taxes | 450/3 | €55,832 | €12,494 | -€43,338 | -77.6% |
| Other amounts payable | 47/48 | €247,299 | €246,456 | -€844 | -0.3% |
| Remuneration, social security and pensions | 62 | €32,617 | €33,568 | +€951 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,346 | €27,865 | +€3,519 | +14.5% |
| Other operating charges | 640/8 | €654 | €455 | -€199 | -30.4% |
| Gross operating margin | 9900 | €288,488 | €261,634 | -€26,854 | -9.3% |
| Operating profit (loss) | 9901 | €230,872 | €199,746 | -€31,125 | -13.5% |
| Financial income | 75/76B | €1,125 | €10 | -€1,116 | -99.1% |
| Recurring financial income | 75 | €1,125 | €10 | -€1,116 | -99.1% |
| Financial charges | 65/66B | €8,441 | €7,740 | -€700 | -8.3% |
| Recurring financial charges | 65 | €8,441 | €7,740 | -€700 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €223,556 | €192,016 | -€31,541 | -14.1% |
| Income taxes | 67/77 | €74,278 | €57,427 | -€16,851 | -22.7% |
| Profit (loss) for the period | 9904 | €149,278 | €134,589 | -€14,689 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €149,278 | €134,589 | -€14,689 | -9.8% |
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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 4 November 2026 via checked.be.