HighGround: what changed
Two fiscal 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.
HighGround
Largest movements
- Cash -€139,185
down €139,185 (-77.7%), from €179,076 to €39,891
mainly Receivables within one year (-€89,120) and Investment in fixed assets (net) (-€51,387)
- Receivables within one year +€89,120
up €89,120 (+48.1%), from €185,355 to €274,475
of which Trade receivables: +€87,149
- Tangible fixed assets +€45,318
up €45,318 (+930.7%), from €4,869 to €50,187
of which Other tangible fixed assets: +€43,744
- Intangible fixed assets -€32,523
down €32,523 (-22.2%), from €146,491 to €113,968
- Deferred charges and accrued income -€11,579
down €11,579 (-42.0%), from €27,590 to €16,011
- Tax, wage and social debts -€51,358
down €51,358 (-52.0%), from €98,707 to €47,350
of which Remuneration and social security: -€30,926
- Debts after one year +€27,510
up €27,510 (+66.1%), from €41,596 to €69,106
- Accrued charges and deferred income -€22,332
down €22,332 (-10.8%), from €207,397 to €185,064
- Current portion of long-term debt -€15,609
down €15,609 (-46.0%), from €33,898 to €18,289
- Trade debts +€9,163
up €9,163 (+5.0%), from €182,661 to €191,823
- Staff costs -€250,528
down €250,528 (-35.5%), from €706,042 to €455,515
- Gross operating margin -€243,495
down €243,495 (-31.8%), from €765,873 to €522,377
- Depreciation +€19,974
up €19,974 (+107.3%), from €18,618 to €38,592
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.
Cash bridge derived
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 | €596,381 | €547,532 | -€48,849 | -8.2% |
| Fixed assets | 21/28 | €151,360 | €164,155 | +€12,795 | +8.5% |
| Intangible fixed assets | 21 | €146,491 | €113,968 | -€32,523 | -22.2% |
| Tangible fixed assets | 22/27 | €4,869 | €50,187 | +€45,318 | +930.7% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €27 | €0 | -€27 | -100.0% |
| Furniture and vehicles | 24 | €1,942 | €3,543 | +€1,601 | +82.4% |
| Other tangible fixed assets | 26 | €2,900 | €46,645 | +€43,744 | +1508.2% |
| Current assets | 29/58 | €445,021 | €383,377 | -€61,644 | -13.9% |
| Amounts receivable after more than one year | 29 | €53,000 | €53,000 | = | 0.0% |
| Other amounts receivable | 291 | €53,000 | €53,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €185,355 | €274,475 | +€89,120 | +48.1% |
| Trade receivables | 40 | €182,975 | €270,123 | +€87,149 | +47.6% |
| Other amounts receivable | 41 | €2,381 | €4,352 | +€1,971 | +82.8% |
| Cash at bank and in hand | 54/58 | €179,076 | €39,891 | -€139,185 | -77.7% |
| Deferred charges and accrued income | 490/1 | €27,590 | €16,011 | -€11,579 | -42.0% |
| Total equity and liabilities | 10/49 | €596,381 | €547,532 | -€48,849 | -8.2% |
| Equity | 10/15 | €26,799 | €32,526 | +€5,727 | +21.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,431 | €21,431 | = | 0.0% |
| Distributable reserves | 133 | €21,431 | €21,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€832 | €4,896 | +€5,727 | |
| Amounts payable | 17/49 | €569,582 | €515,006 | -€54,576 | -9.6% |
| Amounts payable after more than one year | 17 | €41,596 | €69,106 | +€27,510 | +66.1% |
| Financial debts | 170/4 | €41,596 | €69,106 | +€27,510 | +66.1% |
| Amounts payable within one year | 42/48 | €320,588 | €260,835 | -€59,753 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €33,898 | €18,289 | -€15,609 | -46.0% |
| Financial debts | 43 | €5,322 | €3,373 | -€1,949 | -36.6% |
| Credit institutions | 430/8 | €3,388 | €3,373 | -€16 | -0.5% |
| Other loans | 439 | €1,934 | €0 | -€1,934 | -100.0% |
| Trade debts | 44 | €182,661 | €191,823 | +€9,163 | +5.0% |
| Suppliers | 440/4 | €182,661 | €191,823 | +€9,163 | +5.0% |
| Taxes, remuneration and social security | 45 | €98,707 | €47,350 | -€51,358 | -52.0% |
| Taxes | 450/3 | €31,804 | €11,373 | -€20,431 | -64.2% |
| Remuneration and social security | 454/9 | €66,903 | €35,977 | -€30,926 | -46.2% |
| Accrued charges and deferred income | 492/3 | €207,397 | €185,064 | -€22,332 | -10.8% |
| Non-recurring operating income | 76A | €16,151 | €7,179 | -€8,972 | -55.5% |
| Remuneration, social security and pensions | 62 | €706,042 | €455,515 | -€250,528 | -35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,618 | €38,592 | +€19,974 | +107.3% |
| Other operating charges | 640/8 | €1,918 | €565 | -€1,353 | -70.5% |
| Non-recurring operating charges | 66A | €8,281 | €0 | -€8,281 | -100.0% |
| Gross operating margin | 9900 | €765,873 | €522,377 | -€243,495 | -31.8% |
| Operating profit (loss) | 9901 | €31,014 | €27,706 | -€3,308 | -10.7% |
| Financial income | 75/76B | €1,721 | €1,898 | +€177 | +10.3% |
| Recurring financial income | 75 | €1,721 | €1,898 | +€177 | +10.3% |
| Financial charges | 65/66B | €11,544 | €14,387 | +€2,843 | +24.6% |
| Recurring financial charges | 65 | €11,544 | €14,387 | +€2,843 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €21,191 | €15,217 | -€5,974 | -28.2% |
| Income taxes | 67/77 | €16,342 | €9,490 | -€6,852 | -41.9% |
| Profit (loss) for the period | 9904 | €4,849 | €5,727 | +€878 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,849 | €5,727 | +€878 | +18.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.