HL Meat: 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.
HL Meat
Largest movements
- Receivables within one year -€85,172
down €85,172 (-20.3%), from €418,957 to €333,784
of which Trade receivables: -€86,186
- Tangible fixed assets -€7,755
down €7,755 (-36.7%), from €21,125 to €13,370
of which Plant, machinery and equipment: -€7,701
- Other debts -€179,278
no longer reported in 2025 (was €179,278)
- Trade debts +€77,251
up €77,251 (+32.1%), from €240,843 to €318,094
- Accrued charges and deferred income +€16,542
up €16,542 (+44.5%), from €37,184 to €53,726
- Tax, wage and social debts -€11,194
down €11,194 (-66.8%), from €16,758 to €5,564
of which Remuneration and social security: -€11,300
- Gross operating margin -€30,854
down €30,854 (-33.6%), from €91,939 to €61,085
- Staff costs -€30,722
down €30,722 (-37.4%), from €82,110 to €51,388
- Depreciation -€923
down €923 (-10.6%), from €8,678 to €7,755
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 | €496,576 | €400,552 | -€96,023 | -19.3% |
| Fixed assets | 21/28 | €21,125 | €13,370 | -€7,755 | -36.7% |
| Tangible fixed assets | 22/27 | €21,125 | €13,370 | -€7,755 | -36.7% |
| Plant, machinery and equipment | 23 | €20,706 | €13,005 | -€7,701 | -37.2% |
| Other tangible fixed assets | 26 | €418 | €364 | -€54 | -12.9% |
| Current assets | 29/58 | €475,451 | €387,183 | -€88,268 | -18.6% |
| Stocks and contracts in progress | 3 | €11,188 | €7,274 | -€3,914 | -35.0% |
| Stocks | 30/36 | €11,188 | €7,274 | -€3,914 | -35.0% |
| Amounts receivable within one year | 40/41 | €418,957 | €333,784 | -€85,172 | -20.3% |
| Trade receivables | 40 | €411,600 | €325,414 | -€86,186 | -20.9% |
| Other amounts receivable | 41 | €7,357 | €8,370 | +€1,014 | +13.8% |
| Cash at bank and in hand | 54/58 | €43,775 | €44,498 | +€723 | +1.7% |
| Deferred charges and accrued income | 490/1 | €1,531 | €1,625 | +€95 | +6.2% |
| Total equity and liabilities | 10/49 | €496,576 | €400,552 | -€96,023 | -19.3% |
| Equity | 10/15 | €22,512 | €23,168 | +€655 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,912 | €4,568 | +€655 | +16.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,052 | €2,708 | +€655 | +31.9% |
| Amounts payable | 17/49 | €474,063 | €377,385 | -€96,678 | -20.4% |
| Amounts payable within one year | 42/48 | €436,879 | €323,659 | -€113,220 | -25.9% |
| Trade debts | 44 | €240,843 | €318,094 | +€77,251 | +32.1% |
| Suppliers | 440/4 | €240,843 | €318,094 | +€77,251 | +32.1% |
| Taxes, remuneration and social security | 45 | €16,758 | €5,564 | -€11,194 | -66.8% |
| Taxes | 450/3 | €796 | €902 | +€106 | +13.4% |
| Remuneration and social security | 454/9 | €15,962 | €4,662 | -€11,300 | -70.8% |
| Other amounts payable | 47/48 | €179,278 | - | -€179,278 | |
| Accrued charges and deferred income | 492/3 | €37,184 | €53,726 | +€16,542 | +44.5% |
| Remuneration, social security and pensions | 62 | €82,110 | €51,388 | -€30,722 | -37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,678 | €7,755 | -€923 | -10.6% |
| Other operating charges | 640/8 | - | €273 | +€273 | |
| Gross operating margin | 9900 | €91,939 | €61,085 | -€30,854 | -33.6% |
| Operating profit (loss) | 9901 | €1,151 | €1,669 | +€518 | +45.1% |
| Financial charges | 65/66B | €14 | €112 | +€98 | +693% |
| Recurring financial charges | 65 | €14 | €112 | +€98 | +693% |
| Profit (loss) for the period before taxes | 9903 | €1,137 | €1,557 | +€421 | +37.0% |
| Income taxes | 67/77 | €796 | €902 | +€106 | +13.4% |
| Profit (loss) for the period | 9904 | €341 | €655 | +€314 | +92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €341 | €655 | +€314 | +92.1% |
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 25 October 2026 via checked.be.