HGA-SOLUTIONS: 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.
HGA-SOLUTIONS
Largest movements
- Cash -€14,864
down €14,864 (-41.7%), from €35,647 to €20,783
mainly Tax, wage and social debts (-€36,152) and Receivables within one year (-€11,509)
- Receivables within one year +€11,509
up €11,509 (+11.9%), from €96,976 to €108,484
of which Other amounts receivable: +€9,877
- Tangible fixed assets -€9,793
down €9,793 (-50.6%), from €19,354 to €9,561
of which Furniture and vehicles: -€9,341
- Tax, wage and social debts -€36,152
down €36,152 (-94.8%), from €38,151 to €1,999
of which Taxes: -€38,151
- Trade debts +€14,031
up €14,031 (+115%), from €12,223 to €26,254
- Reserves +€13,898
up €13,898 (+17.3%), from €80,339 to €94,237
- Debts after one year -€6,138
down €6,138 (-43.1%), from €14,226 to €8,087
- Other debts +€2,969
up €2,969 (+120%), from €2,468 to €5,437
- Gross operating margin +€16,928
up €16,928 (+52.1%), from €32,519 to €49,447
- Staff costs +€12,547
new in 2025: €12,547
- Depreciation +€938
up €938 (+7.1%), from €13,126 to €14,064
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.
Derived cash bridge
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 | €155,265 | €144,152 | -€11,112 | -7.2% |
| Fixed assets | 21/28 | €20,804 | €12,446 | -€8,358 | -40.2% |
| Tangible fixed assets | 22/27 | €19,354 | €9,561 | -€9,793 | -50.6% |
| Plant, machinery and equipment | 23 | €6,923 | €6,471 | -€452 | -6.5% |
| Furniture and vehicles | 24 | €12,431 | €3,090 | -€9,341 | -75.1% |
| Financial fixed assets | 28 | €1,450 | €2,885 | +€1,435 | +99.0% |
| Current assets | 29/58 | €134,461 | €131,706 | -€2,754 | -2.0% |
| Amounts receivable within one year | 40/41 | €96,976 | €108,484 | +€11,509 | +11.9% |
| Trade receivables | 40 | €92,476 | €94,108 | +€1,632 | +1.8% |
| Other amounts receivable | 41 | €4,500 | €14,376 | +€9,877 | +219% |
| Cash at bank and in hand | 54/58 | €35,647 | €20,783 | -€14,864 | -41.7% |
| Deferred charges and accrued income | 490/1 | €1,838 | €2,439 | +€601 | +32.7% |
| Total equity and liabilities | 10/49 | €155,265 | €144,152 | -€11,112 | -7.2% |
| Equity | 10/15 | €82,339 | €96,237 | +€13,898 | +16.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €80,339 | €94,237 | +€13,898 | +17.3% |
| Distributable reserves | 133 | €80,339 | €94,237 | +€13,898 | +17.3% |
| Amounts payable | 17/49 | €72,926 | €47,915 | -€25,010 | -34.3% |
| Amounts payable after more than one year | 17 | €14,226 | €8,087 | -€6,138 | -43.1% |
| Financial debts | 170/4 | €14,226 | €8,087 | -€6,138 | -43.1% |
| Amounts payable within one year | 42/48 | €58,700 | €39,828 | -€18,872 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €5,858 | €6,138 | +€280 | +4.8% |
| Trade debts | 44 | €12,223 | €26,254 | +€14,031 | +115% |
| Suppliers | 440/4 | €12,223 | €26,254 | +€14,031 | +115% |
| Taxes, remuneration and social security | 45 | €38,151 | €1,999 | -€36,152 | -94.8% |
| Taxes | 450/3 | €38,151 | - | -€38,151 | |
| Remuneration and social security | 454/9 | - | €1,999 | +€1,999 | |
| Other amounts payable | 47/48 | €2,468 | €5,437 | +€2,969 | +120% |
| Remuneration, social security and pensions | 62 | - | €12,547 | +€12,547 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,126 | €14,064 | +€938 | +7.1% |
| Other operating charges | 640/8 | €1,686 | €1,604 | -€82 | -4.9% |
| Gross operating margin | 9900 | €32,519 | €49,447 | +€16,928 | +52.1% |
| Operating profit (loss) | 9901 | €17,707 | €21,232 | +€3,526 | +19.9% |
| Financial income | 75/76B | €4 | €0 | -€4 | -97.3% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -97.3% |
| Financial charges | 65/66B | €1,810 | €1,678 | -€132 | -7.3% |
| Recurring financial charges | 65 | €1,810 | €1,678 | -€132 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €15,901 | €19,554 | +€3,653 | +23.0% |
| Income taxes | 67/77 | €5,604 | €5,656 | +€53 | +0.9% |
| Profit (loss) for the period | 9904 | €10,298 | €13,898 | +€3,601 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,298 | €13,898 | +€3,601 | +35.0% |
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 22 October 2026 via checked.be.