Hgroupe: 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.
Hgroupe
Largest movements
- Tangible fixed assets -€21,072
down €21,072 (-37.7%), from €55,868 to €34,796
of which Furniture and vehicles: -€17,737
- Cash -€5,819
down €5,819 (-69.8%), from €8,332 to €2,513
mainly Debts after one year (-€18,143) and Tax, wage and social debts (-€11,795)
- Debts after one year -€18,143
down €18,143 (-49.2%), from €36,842 to €18,699
- Tax, wage and social debts -€11,795
down €11,795 (-76.9%), from €15,343 to €3,548
- Trade debts +€9,338
up €9,338 (+120%), from €7,791 to €17,128
- Current portion of long-term debt -€5,019
down €5,019 (-21.7%), from €23,161 to €18,143
- Gross operating margin +€5,684
up €5,684 (+27.8%), from €20,425 to €26,109
- Taxes +€2,613
up €2,613 (+1,040%), from €251 to €2,864
- Depreciation -€1,549
down €1,549 (-6.7%), from €22,950 to €21,401
- Other operating charges +€1,189
up €1,189 (+71.2%), from €1,671 to €2,860
- Financial income -€1,057
down €1,057 (-22.3%), from €4,741 to €3,684
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.
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 | €175,797 | €150,658 | -€25,140 | -14.3% |
| Fixed assets | 21/28 | €55,868 | €34,796 | -€21,072 | -37.7% |
| Tangible fixed assets | 22/27 | €55,868 | €34,796 | -€21,072 | -37.7% |
| Plant, machinery and equipment | 23 | €444 | €338 | -€106 | -23.9% |
| Furniture and vehicles | 24 | €51,841 | €34,105 | -€17,737 | -34.2% |
| Leasing and similar rights | 25 | €3,583 | €354 | -€3,229 | -90.1% |
| Current assets | 29/58 | €119,930 | €115,861 | -€4,068 | -3.4% |
| Amounts receivable within one year | 40/41 | €107,993 | €109,509 | +€1,516 | +1.4% |
| Trade receivables | 40 | €20,976 | €42,203 | +€21,227 | +101% |
| Other amounts receivable | 41 | €87,017 | €67,306 | -€19,711 | -22.7% |
| Cash at bank and in hand | 54/58 | €8,332 | €2,513 | -€5,819 | -69.8% |
| Deferred charges and accrued income | 490/1 | €3,604 | €3,839 | +€235 | +6.5% |
| Total equity and liabilities | 10/49 | €175,797 | €150,658 | -€25,140 | -14.3% |
| Equity | 10/15 | €92,660 | €92,739 | +€79 | +0.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €36,756 | €36,756 | = | 0.0% |
| Distributable reserves | 133 | €36,756 | €36,756 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,904 | €40,983 | +€79 | +0.2% |
| Amounts payable | 17/49 | €83,137 | €57,918 | -€25,219 | -30.3% |
| Amounts payable after more than one year | 17 | €36,842 | €18,699 | -€18,143 | -49.2% |
| Financial debts | 170/4 | €36,842 | €18,699 | -€18,143 | -49.2% |
| Amounts payable within one year | 42/48 | €46,295 | €38,819 | -€7,476 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €23,161 | €18,143 | -€5,019 | -21.7% |
| Trade debts | 44 | €7,791 | €17,128 | +€9,338 | +120% |
| Suppliers | 440/4 | €7,791 | €17,128 | +€9,338 | +120% |
| Taxes, remuneration and social security | 45 | €15,343 | €3,548 | -€11,795 | -76.9% |
| Taxes | 450/3 | €15,343 | €3,548 | -€11,795 | -76.9% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,950 | €21,401 | -€1,549 | -6.7% |
| Other operating charges | 640/8 | €1,671 | €2,860 | +€1,189 | +71.2% |
| Gross operating margin | 9900 | €20,425 | €26,109 | +€5,684 | +27.8% |
| Operating profit (loss) | 9901 | -€4,196 | €1,847 | +€6,043 | |
| Financial income | 75/76B | €4,741 | €3,684 | -€1,057 | -22.3% |
| Recurring financial income | 75 | €4,741 | €3,684 | -€1,057 | -22.3% |
| Financial charges | 65/66B | €3,571 | €2,588 | -€983 | -27.5% |
| Recurring financial charges | 65 | €3,571 | €2,588 | -€983 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,026 | €2,943 | +€5,969 | |
| Income taxes | 67/77 | €251 | €2,864 | +€2,613 | +1,040% |
| Profit (loss) for the period | 9904 | -€3,277 | €79 | +€3,356 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,277 | €79 | +€3,356 |
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.