HLG: 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.
HLG
Largest movements
- Tangible fixed assets -€10,953
down €10,953 (-3.5%), from €316,694 to €305,740
of which Land and buildings: -€13,827
- Profit (loss) carried forward -€4,612
down €4,612 (-68.0%), from €6,781 to €2,169
- Gross operating margin -€4,198
down €4,198 (-25.4%), from €16,528 to €12,330
- Depreciation -€317
down €317 (-2.2%), from €14,411 to €14,094
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 | €417,776 | €413,269 | -€4,507 | -1.1% |
| Fixed assets | 21/28 | €316,694 | €305,740 | -€10,953 | -3.5% |
| Tangible fixed assets | 22/27 | €316,694 | €305,740 | -€10,953 | -3.5% |
| Land and buildings | 22 | €316,299 | €302,472 | -€13,827 | -4.4% |
| Furniture and vehicles | 24 | €395 | €3,269 | +€2,874 | +728.1% |
| Current assets | 29/58 | €101,082 | €107,528 | +€6,446 | +6.4% |
| Amounts receivable within one year | 40/41 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Other amounts receivable | 41 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €97,851 | €101,871 | +€4,020 | +4.1% |
| Deferred charges and accrued income | 490/1 | €1,231 | €1,657 | +€426 | +34.6% |
| Total equity and liabilities | 10/49 | €417,776 | €413,269 | -€4,507 | -1.1% |
| Equity | 10/15 | €19,615 | €15,003 | -€4,612 | -23.5% |
| Contributions | 10/11 | €12,834 | €12,834 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,781 | €2,169 | -€4,612 | -68.0% |
| Amounts payable | 17/49 | €398,161 | €398,265 | +€105 | 0.0% |
| Amounts payable after more than one year | 17 | €397,822 | €397,822 | = | 0.0% |
| Other amounts payable | 178/9 | €397,822 | €397,822 | = | 0.0% |
| Amounts payable within one year | 42/48 | €253 | €356 | +€103 | +40.8% |
| Trade debts | 44 | €162 | €265 | +€103 | +63.7% |
| Suppliers | 440/4 | €162 | €265 | +€103 | +63.7% |
| Other amounts payable | 47/48 | €91 | €91 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €86 | €87 | +€1 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,411 | €14,094 | -€317 | -2.2% |
| Other operating charges | 640/8 | €2,520 | €2,599 | +€79 | +3.1% |
| Gross operating margin | 9900 | €16,528 | €12,330 | -€4,198 | -25.4% |
| Operating profit (loss) | 9901 | -€404 | -€4,363 | -€3,959 | -980.4% |
| Financial charges | 65/66B | €249 | €249 | = | 0.0% |
| Recurring financial charges | 65 | €249 | €249 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€653 | -€4,612 | -€3,959 | -606.7% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€653 | -€4,612 | -€3,959 | -606.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€653 | -€4,612 | -€3,959 | -606.7% |
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 30 September 2026 via checked.be.