HILGERT: 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.
HILGERT
Largest movements
- Tangible fixed assets +€108,814
up €108,814 (+102.4%), from €106,247 to €215,062
of which Land and buildings: +€109,420
- Receivables within one year -€62,946
down €62,946 (-78.1%), from €80,575 to €17,628
of which Other amounts receivable: -€63,725
- Cash +€36,824
up €36,824 (+442.1%), from €8,329 to €45,153
mainly Debts after one year (+€69,700) and Receivables within one year (+€62,946)
- Debts after one year +€69,700
up €69,700 (+88.3%), from €78,898 to €148,598
- Other debts +€12,753
up €12,753 (+1885.9%), from €676 to €13,429
- Tax, wage and social debts -€12,133
down €12,133 (-70.0%), from €17,328 to €5,196
- Trade debts +€9,238
up €9,238 (+258.4%), from €3,575 to €12,813
- Current portion of long-term debt +€4,797
up €4,797 (+109.0%), from €4,401 to €9,198
- Financial income -€15,074
down €15,074 (-97.9%), from €15,398 to €324
- Depreciation +€8,618
up €8,618 (+230.5%), from €3,738 to €12,356
- Financial charges +€6,832
up €6,832 (+175.6%), from €3,891 to €10,723
- Taxes -€5,280
down €5,280 (-56.3%), from €9,386 to €4,106
- Gross operating margin +€4,929
up €4,929 (+13.1%), from €37,570 to €42,499
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 | €196,119 | €280,246 | +€84,127 | +42.9% |
| Fixed assets | 21/28 | €106,247 | €215,062 | +€108,814 | +102.4% |
| Tangible fixed assets | 22/27 | €106,247 | €215,062 | +€108,814 | +102.4% |
| Land and buildings | 22 | €105,642 | €215,062 | +€109,420 | +103.6% |
| Furniture and vehicles | 24 | €606 | €0 | -€606 | -100.0% |
| Current assets | 29/58 | €89,872 | €65,185 | -€24,687 | -27.5% |
| Amounts receivable within one year | 40/41 | €80,575 | €17,628 | -€62,946 | -78.1% |
| Trade receivables | 40 | €8,954 | €9,732 | +€778 | +8.7% |
| Other amounts receivable | 41 | €71,621 | €7,896 | -€63,725 | -89.0% |
| Cash at bank and in hand | 54/58 | €8,329 | €45,153 | +€36,824 | +442.1% |
| Deferred charges and accrued income | 490/1 | €969 | €2,404 | +€1,436 | +148.2% |
| Total equity and liabilities | 10/49 | €196,119 | €280,246 | +€84,127 | +42.9% |
| Equity | 10/15 | €90,845 | €90,889 | +€43 | 0.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €65,845 | €65,889 | +€43 | +0.1% |
| Distributable reserves | 133 | €65,845 | €65,889 | +€43 | +0.1% |
| Amounts payable | 17/49 | €105,274 | €189,358 | +€84,084 | +79.9% |
| Amounts payable after more than one year | 17 | €78,898 | €148,598 | +€69,700 | +88.3% |
| Financial debts | 170/4 | €78,898 | €148,598 | +€69,700 | +88.3% |
| Amounts payable within one year | 42/48 | €26,376 | €40,760 | +€14,384 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €4,401 | €9,198 | +€4,797 | +109.0% |
| Financial debts | 43 | €396 | €124 | -€272 | -68.6% |
| Credit institutions | 430/8 | €396 | €124 | -€272 | -68.6% |
| Trade debts | 44 | €3,575 | €12,813 | +€9,238 | +258.4% |
| Suppliers | 440/4 | €3,575 | €12,813 | +€9,238 | +258.4% |
| Taxes, remuneration and social security | 45 | €17,328 | €5,196 | -€12,133 | -70.0% |
| Taxes | 450/3 | €17,328 | €5,196 | -€12,133 | -70.0% |
| Other amounts payable | 47/48 | €676 | €13,429 | +€12,753 | +1885.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,738 | €12,356 | +€8,618 | +230.5% |
| Other operating charges | 640/8 | €732 | €2,194 | +€1,461 | +199.7% |
| Gross operating margin | 9900 | €37,570 | €42,499 | +€4,929 | +13.1% |
| Operating profit (loss) | 9901 | €33,099 | €27,949 | -€5,150 | -15.6% |
| Financial income | 75/76B | €15,398 | €324 | -€15,074 | -97.9% |
| Recurring financial income | 75 | €15,398 | €324 | -€15,074 | -97.9% |
| Financial charges | 65/66B | €3,891 | €10,723 | +€6,832 | +175.6% |
| Recurring financial charges | 65 | €3,891 | €10,723 | +€6,832 | +175.6% |
| Profit (loss) for the period before taxes | 9903 | €44,606 | €17,550 | -€27,056 | -60.7% |
| Income taxes | 67/77 | €9,386 | €4,106 | -€5,280 | -56.3% |
| Profit (loss) for the period | 9904 | €35,220 | €13,443 | -€21,776 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,220 | €13,443 | -€21,776 | -61.8% |
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 6 October 2026 via checked.be.