HMBG: 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.
HMBG
Largest movements
- Financial fixed assets +€296,551
up €296,551 (+1647.5%), from €18,000 to €314,551
- Revaluation surpluses +€291,113
new in 2025: €291,113
- Other debts +€7,200
up €7,200 (+37.9%), from €19,000 to €26,200
- Gross operating margin +€1,024
up €1,024 (+40.9%), from -€2,504 to -€1,480
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 | €18,941 | €315,050 | +€296,110 | +1563.4% |
| Fixed assets | 21/28 | €18,000 | €314,551 | +€296,551 | +1647.5% |
| Financial fixed assets | 28 | €18,000 | €314,551 | +€296,551 | +1647.5% |
| Current assets | 29/58 | €941 | €499 | -€441 | -46.9% |
| Cash at bank and in hand | 54/58 | €941 | €484 | -€457 | -48.5% |
| Deferred charges and accrued income | 490/1 | - | €15 | +€15 | |
| Total equity and liabilities | 10/49 | €18,941 | €315,050 | +€296,110 | +1563.4% |
| Equity | 10/15 | -€1,627 | €287,799 | +€289,426 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €291,113 | +€291,113 | |
| Profit (loss) carried forward | 14 | -€7,627 | -€9,314 | -€1,687 | -22.1% |
| Amounts payable | 17/49 | €20,568 | €27,251 | +€6,684 | +32.5% |
| Amounts payable within one year | 42/48 | €20,568 | €27,251 | +€6,684 | +32.5% |
| Trade debts | 44 | €1,568 | €1,051 | -€516 | -32.9% |
| Suppliers | 440/4 | €1,568 | €1,051 | -€516 | -32.9% |
| Other amounts payable | 47/48 | €19,000 | €26,200 | +€7,200 | +37.9% |
| Gross operating margin | 9900 | -€2,504 | -€1,480 | +€1,024 | +40.9% |
| Operating profit (loss) | 9901 | -€2,504 | -€1,480 | +€1,024 | +40.9% |
| Financial charges | 65/66B | €207 | €207 | = | 0.0% |
| Recurring financial charges | 65 | €207 | €207 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,711 | -€1,687 | +€1,024 | +37.8% |
| Profit (loss) for the period | 9904 | -€2,711 | -€1,687 | +€1,024 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,711 | -€1,687 | +€1,024 | +37.8% |
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 3 October 2026 via checked.be.