HGE CONSULT: 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.
HGE CONSULT
Largest movements
- Receivables within one year -€26,370
down €26,370 (-22.9%), from €115,333 to €88,963
of which Other amounts receivable: -€26,369
- Cash +€25,700
up €25,700 (+1,929%), from €1,332 to €27,032
mainly Net result for the year (+€76,188) and Trade debts (+€31,612)
- Tangible fixed assets -€20,722
down €20,722 (-67.1%), from €30,879 to €10,157
of which Leasing and similar rights: -€17,215
- Profit (loss) carried forward -€41,512
down €41,512 (-54.1%), from €76,678 to €35,166
- Trade debts +€31,612
new in 2025: €31,612
- Tax, wage and social debts -€13,954
down €13,954 (-34.2%), from €40,804 to €26,850
of which Remuneration and social security: -€7,249
- Other debts +€9,700
up €9,700 (+121%), from €8,000 to €17,700
- Debts after one year -€7,238
down €7,238 (-77.7%), from €9,310 to €2,072
- Turnover -€265,000
no longer reported in 2025 (was €265,000)
- Purchases and services -€213,831
no longer reported in 2025 (was €213,831)
- Gross operating margin +€97,038
up €97,038 (+190%), from €51,187 to €148,225
- Taxes +€19,759
up €19,759 (+317%), from €6,241 to €26,000
- Staff costs +€16,086
up €16,086 (+365%), from €4,405 to €20,491
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 | €147,645 | €126,254 | -€21,391 | -14.5% |
| Fixed assets | 21/28 | €30,980 | €10,258 | -€20,722 | -66.9% |
| Tangible fixed assets | 22/27 | €30,879 | €10,157 | -€20,722 | -67.1% |
| Plant, machinery and equipment | 23 | €4,127 | €2,111 | -€2,016 | -48.9% |
| Leasing and similar rights | 25 | €22,280 | €5,065 | -€17,215 | -77.3% |
| Other tangible fixed assets | 26 | €4,472 | €2,981 | -€1,491 | -33.3% |
| Financial fixed assets | 28 | €101 | €101 | -€0 | -0.3% |
| Current assets | 29/58 | €116,665 | €115,995 | -€670 | -0.6% |
| Amounts receivable within one year | 40/41 | €115,333 | €88,963 | -€26,370 | -22.9% |
| Trade receivables | 40 | €85,433 | €85,433 | -€0 | 0.0% |
| Other amounts receivable | 41 | €29,900 | €3,531 | -€26,369 | -88.2% |
| Cash at bank and in hand | 54/58 | €1,332 | €27,032 | +€25,700 | +1,929% |
| Total equity and liabilities | 10/49 | €147,645 | €126,254 | -€21,391 | -14.5% |
| Equity | 10/15 | €81,678 | €40,166 | -€41,512 | -50.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,678 | €35,166 | -€41,512 | -54.1% |
| Amounts payable | 17/49 | €65,967 | €86,088 | +€20,121 | +30.5% |
| Amounts payable after more than one year | 17 | €9,310 | €2,072 | -€7,238 | -77.7% |
| Financial debts | 170/4 | €9,310 | €2,072 | -€7,238 | -77.7% |
| Amounts payable within one year | 42/48 | €56,657 | €84,016 | +€27,359 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €7,853 | €7,854 | +€1 | 0.0% |
| Trade debts | 44 | - | €31,612 | +€31,612 | |
| Suppliers | 440/4 | - | €31,612 | +€31,612 | |
| Taxes, remuneration and social security | 45 | €40,804 | €26,850 | -€13,954 | -34.2% |
| Taxes | 450/3 | €32,705 | €26,000 | -€6,705 | -20.5% |
| Remuneration and social security | 454/9 | €8,099 | €850 | -€7,249 | -89.5% |
| Other amounts payable | 47/48 | €8,000 | €17,700 | +€9,700 | +121% |
| Turnover | 70 | €265,000 | - | -€265,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €213,831 | - | -€213,831 | |
| Remuneration, social security and pensions | 62 | €4,405 | €20,491 | +€16,086 | +365% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,722 | €20,722 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,473 | €3,146 | +€1,673 | +114% |
| Gross operating margin | 9900 | €51,187 | €148,225 | +€97,038 | +190% |
| Operating profit (loss) | 9901 | €24,587 | €103,866 | +€79,279 | +322% |
| Financial charges | 65/66B | €1,875 | €1,678 | -€197 | -10.5% |
| Recurring financial charges | 65 | €1,875 | €1,678 | -€197 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €22,712 | €102,188 | +€79,476 | +350% |
| Income taxes | 67/77 | €6,241 | €26,000 | +€19,759 | +317% |
| Profit (loss) for the period | 9904 | €16,471 | €76,188 | +€59,717 | +363% |
| Profit (loss) for the period to be appropriated | 9905 | €16,471 | €76,188 | +€59,717 | +363% |
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 17 October 2026 via checked.be.