HKA GROUP: 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.
HKA GROUP
Largest movements
- Receivables within one year -€134,411
down €134,411 (-71.8%), from €187,269 to €52,858
of which Trade receivables: -€129,690
- Stocks and contracts +€65,000
new in 2025: €65,000
- Tangible fixed assets -€5,607
down €5,607 (-52.9%), from €10,589 to €4,982
of which Furniture and vehicles: -€4,990
- Cash -€3,371
down €3,371 (-93.8%), from €3,593 to €222
mainly Trade debts (-€111,981) and Stocks and contracts (-€65,000)
- Trade debts -€111,981
down €111,981 (-68.0%), from €164,743 to €52,762
- Other debts +€46,629
up €46,629 (+128%), from €36,486 to €83,116
- Profit (loss) carried forward -€9,240
down €9,240 (-157%), from -€5,870 to -€15,109
- Tax, wage and social debts -€3,297
no longer reported in 2025 (was €3,297)
- Gross operating margin +€2,595
up €2,595 (+76.0%), from -€3,416 to -€820
- Staff costs -€1,305
down €1,305 (-97.1%), from €1,343 to €39
- Other operating charges +€894
up €894 (+496%), from €180 to €1,075
- Depreciation +€605
up €605 (+12.1%), from €5,002 to €5,607
- Financial income +€166
up €166 (+105%), from €158 to €324
of which Non-recurring financial income: +€323
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 | €201,656 | €123,768 | -€77,888 | -38.6% |
| Fixed assets | 21/28 | €10,794 | €5,687 | -€5,107 | -47.3% |
| Tangible fixed assets | 22/27 | €10,589 | €4,982 | -€5,607 | -52.9% |
| Plant, machinery and equipment | 23 | €1,232 | €615 | -€617 | -50.1% |
| Furniture and vehicles | 24 | €9,358 | €4,367 | -€4,990 | -53.3% |
| Financial fixed assets | 28 | €205 | €705 | +€500 | +244% |
| Current assets | 29/58 | €190,862 | €118,081 | -€72,781 | -38.1% |
| Stocks and contracts in progress | 3 | - | €65,000 | +€65,000 | |
| Stocks | 30/36 | - | €65,000 | +€65,000 | |
| Amounts receivable within one year | 40/41 | €187,269 | €52,858 | -€134,411 | -71.8% |
| Trade receivables | 40 | €178,370 | €48,680 | -€129,690 | -72.7% |
| Other amounts receivable | 41 | €8,899 | €4,178 | -€4,721 | -53.1% |
| Cash at bank and in hand | 54/58 | €3,593 | €222 | -€3,371 | -93.8% |
| Total equity and liabilities | 10/49 | €201,656 | €123,768 | -€77,888 | -38.6% |
| Equity | 10/15 | -€2,870 | -€12,109 | -€9,240 | -322% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,870 | -€15,109 | -€9,240 | -157% |
| Amounts payable | 17/49 | €204,526 | €135,877 | -€68,648 | -33.6% |
| Amounts payable within one year | 42/48 | €204,526 | €135,877 | -€68,648 | -33.6% |
| Trade debts | 44 | €164,743 | €52,762 | -€111,981 | -68.0% |
| Suppliers | 440/4 | €164,743 | €52,762 | -€111,981 | -68.0% |
| Taxes, remuneration and social security | 45 | €3,297 | - | -€3,297 | |
| Taxes | 450/3 | €3,297 | - | -€3,297 | |
| Other amounts payable | 47/48 | €36,486 | €83,116 | +€46,629 | +128% |
| Remuneration, social security and pensions | 62 | €1,343 | €39 | -€1,305 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,002 | €5,607 | +€605 | +12.1% |
| Other operating charges | 640/8 | €180 | €1,075 | +€894 | +496% |
| Non-recurring operating charges | 66A | €1,128 | €1,768 | +€640 | +56.7% |
| Gross operating margin | 9900 | -€3,416 | -€820 | +€2,595 | +76.0% |
| Operating profit (loss) | 9901 | -€11,070 | -€9,309 | +€1,761 | +15.9% |
| Financial income | 75/76B | €158 | €324 | +€166 | +105% |
| Recurring financial income | 75 | €158 | €0 | -€158 | -99.7% |
| Non-recurring financial income | 76B | - | €323 | +€323 | |
| Financial charges | 65/66B | €156 | €255 | +€98 | +62.8% |
| Recurring financial charges | 65 | €156 | €255 | +€98 | +62.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,068 | -€9,240 | +€1,828 | +16.5% |
| Profit (loss) for the period | 9904 | -€11,068 | -€9,240 | +€1,828 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,068 | -€9,240 | +€1,828 | +16.5% |
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 14 October 2026 via checked.be.