HIGHTOWER: 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.
HIGHTOWER
Largest movements
- Tangible fixed assets -€9,837
down €9,837 (-2.4%), from €409,297 to €399,460
- Receivables within one year +€9,168
up €9,168 (+9.0%), from €101,465 to €110,633
of which Trade receivables: +€8,249
- Debts after one year -€25,403
down €25,403 (-6.0%), from €420,095 to €394,692
- Trade debts +€15,685
up €15,685 (+62.5%), from €25,114 to €40,799
- Profit (loss) carried forward +€7,066
up €7,066 (+21.4%), from -€32,944 to -€25,878
- Turnover +€6,118
up €6,118 (+15.1%), from €40,499 to €46,617
- Gross operating margin +€6,118
up €6,118 (+15.1%), from €40,499 to €46,617
- Depreciation +€1,286
up €1,286 (+4.8%), from €26,551 to €27,837
- Financial charges -€925
down €925 (-10.3%), from €8,976 to €8,051
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €511,022 | €510,094 | -€928 | -0.2% |
| Fixed assets | 21/28 | €409,298 | €399,461 | -€9,837 | -2.4% |
| Tangible fixed assets | 22/27 | €409,297 | €399,460 | -€9,837 | -2.4% |
| Land and buildings | 22 | €409,297 | €399,460 | -€9,837 | -2.4% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €101,724 | €110,633 | +€8,909 | +8.8% |
| Amounts receivable within one year | 40/41 | €101,465 | €110,633 | +€9,168 | +9.0% |
| Trade receivables | 40 | €55,526 | €63,775 | +€8,249 | +14.9% |
| Other amounts receivable | 41 | €45,939 | €46,858 | +€919 | +2.0% |
| Current investments | 50/53 | €259 | €0 | -€259 | -100.0% |
| Cash at bank and in hand | 54/58 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €511,022 | €510,094 | -€928 | -0.2% |
| Equity | 10/15 | €39,057 | €46,123 | +€7,066 | +18.1% |
| Contributions | 10/11 | €72,001 | €72,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,944 | -€25,878 | +€7,066 | +21.4% |
| Amounts payable | 17/49 | €471,965 | €463,971 | -€7,994 | -1.7% |
| Amounts payable after more than one year | 17 | €420,095 | €394,692 | -€25,403 | -6.0% |
| Financial debts | 170/4 | €420,095 | €394,692 | -€25,403 | -6.0% |
| Amounts payable within one year | 42/48 | €51,870 | €69,279 | +€17,409 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €24,646 | €25,092 | +€446 | +1.8% |
| Financial debts | 43 | €1,462 | €2,740 | +€1,278 | +87.4% |
| Credit institutions | 430/8 | €1,462 | €2,740 | +€1,278 | +87.4% |
| Trade debts | 44 | €25,114 | €40,799 | +€15,685 | +62.5% |
| Suppliers | 440/4 | €25,114 | €40,799 | +€15,685 | +62.5% |
| Taxes, remuneration and social security | 45 | €648 | €648 | = | 0.0% |
| Taxes | 450/3 | €648 | €648 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €40,499 | €46,617 | +€6,118 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,551 | €27,837 | +€1,286 | +4.8% |
| Other operating charges | 640/8 | €4,224 | €4,581 | +€357 | +8.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €40,499 | €46,617 | +€6,118 | +15.1% |
| Operating profit (loss) | 9901 | €9,724 | €14,199 | +€4,475 | +46.0% |
| Financial income | 75/76B | €901 | €918 | +€17 | +1.9% |
| Recurring financial income | 75 | €901 | €918 | +€17 | +1.9% |
| Financial charges | 65/66B | €8,976 | €8,051 | -€925 | -10.3% |
| Recurring financial charges | 65 | €8,976 | €8,051 | -€925 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €1,649 | €7,066 | +€5,417 | +328.5% |
| Profit (loss) for the period | 9904 | €1,649 | €7,066 | +€5,417 | +328.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,649 | €7,066 | +€5,417 | +328.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.