HGNS: 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.
HGNS
Largest movements
- Tangible fixed assets +€28,884
up €28,884 (+1387.4%), from €2,082 to €30,966
of which Furniture and vehicles: +€29,675
- Cash +€22,812
up €22,812 (+25.6%), from €89,262 to €112,074
mainly Debts after one year (+€21,039) and Net result for the year (+€20,828)
- Receivables within one year +€2,304
up €2,304 (+22.2%), from €10,363 to €12,667
of which Trade receivables: +€2,949
- Debts after one year +€21,039
new in 2026: €21,039
- Reserves +€20,828
up €20,828 (+23.7%), from €88,000 to €108,828
- Current portion of long-term debt +€6,993
new in 2026: €6,993
- Tax, wage and social debts +€5,311
up €5,311 (+68.1%), from €7,795 to €13,106
- Gross operating margin +€21,539
up €21,539 (+121.4%), from €17,742 to €39,281
- Depreciation +€7,452
up €7,452 (+866.0%), from €860 to €8,312
- Taxes +€2,061
up €2,061 (+39.3%), from €5,248 to €7,309
- Financial charges +€1,616
up €1,616 (+896.3%), from €180 to €1,796
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €104,282 | €159,580 | +€55,298 | +53.0% |
| Fixed assets | 21/28 | €2,082 | €30,966 | +€28,884 | +1387.4% |
| Tangible fixed assets | 22/27 | €2,082 | €30,966 | +€28,884 | +1387.4% |
| Plant, machinery and equipment | 23 | €1,750 | €959 | -€791 | -45.2% |
| Furniture and vehicles | 24 | €332 | €30,007 | +€29,675 | +8933.2% |
| Current assets | 29/58 | €102,200 | €128,614 | +€26,413 | +25.8% |
| Amounts receivable within one year | 40/41 | €10,363 | €12,667 | +€2,304 | +22.2% |
| Trade receivables | 40 | €9,718 | €12,667 | +€2,949 | +30.4% |
| Other amounts receivable | 41 | €645 | - | -€645 | |
| Cash at bank and in hand | 54/58 | €89,262 | €112,074 | +€22,812 | +25.6% |
| Deferred charges and accrued income | 490/1 | €2,575 | €3,872 | +€1,297 | +50.3% |
| Total equity and liabilities | 10/49 | €104,282 | €159,580 | +€55,298 | +53.0% |
| Equity | 10/15 | €94,628 | €115,456 | +€20,828 | +22.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €88,000 | €108,828 | +€20,828 | +23.7% |
| Distributable reserves | 133 | €88,000 | €108,828 | +€20,828 | +23.7% |
| Profit (loss) carried forward | 14 | €1,628 | €1,628 | = | 0.0% |
| Amounts payable | 17/49 | €9,654 | €44,124 | +€34,470 | +357.0% |
| Amounts payable after more than one year | 17 | - | €21,039 | +€21,039 | |
| Financial debts | 170/4 | - | €21,039 | +€21,039 | |
| Amounts payable within one year | 42/48 | €9,654 | €23,085 | +€13,431 | +139.1% |
| Current portion of amounts payable after more than one year | 42 | - | €6,993 | +€6,993 | |
| Trade debts | 44 | €1,859 | €2,986 | +€1,127 | +60.6% |
| Suppliers | 440/4 | €1,859 | €2,986 | +€1,127 | +60.6% |
| Taxes, remuneration and social security | 45 | €7,795 | €13,106 | +€5,311 | +68.1% |
| Taxes | 450/3 | €7,795 | €13,106 | +€5,311 | +68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €860 | €8,312 | +€7,452 | +866.0% |
| Other operating charges | 640/8 | €771 | €1,061 | +€291 | +37.7% |
| Gross operating margin | 9900 | €17,742 | €39,281 | +€21,539 | +121.4% |
| Operating profit (loss) | 9901 | €16,111 | €29,908 | +€13,797 | +85.6% |
| Financial income | 75/76B | - | €25 | +€25 | |
| Recurring financial income | 75 | - | €25 | +€25 | |
| Financial charges | 65/66B | €180 | €1,796 | +€1,616 | +896.3% |
| Recurring financial charges | 65 | €180 | €1,796 | +€1,616 | +896.3% |
| Profit (loss) for the period before taxes | 9903 | €15,931 | €28,137 | +€12,206 | +76.6% |
| Income taxes | 67/77 | €5,248 | €7,309 | +€2,061 | +39.3% |
| Profit (loss) for the period | 9904 | €10,682 | €20,828 | +€10,146 | +95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,682 | €20,828 | +€10,146 | +95.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.