HN CONSTRUCT: 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.
HN CONSTRUCT
Largest movements
- Tangible fixed assets +€251,836
up €251,836 (+113.5%), from €221,796 to €473,632
of which Land and buildings: +€252,202
- Receivables within one year +€44,816
up €44,816 (+39.7%), from €112,765 to €157,582
of which Trade receivables: +€35,971
- Cash +€8,882
up €8,882 (+1278.1%), from €695 to €9,577
mainly Debts after one year (+€229,686) and Trade debts (+€43,484)
- Debts after one year +€229,686
up €229,686 (+161.2%), from €142,453 to €372,138
- Trade debts +€43,484
up €43,484 (+53.9%), from €80,629 to €124,112
of which Bills of exchange payable: +€105,157
- Reserves +€30,865
up €30,865 (+49.5%), from €62,358 to €93,224
- Other debts -€24,200
no longer reported in 2024 (was €24,200)
- Current portion of long-term debt +€9,459
up €9,459 (+49.8%), from €19,003 to €28,462
- Gross operating margin +€31,943
up €31,943 (+106.0%), from €30,146 to €62,089
- Financial charges +€8,523
up €8,523 (+188.7%), from €4,516 to €13,039
- Taxes +€3,403
up €3,403 (+35.1%), from €9,691 to €13,094
- Depreciation +€3,046
up €3,046 (+163.9%), from €1,859 to €4,905
- Financial income +€639
up €639 (+320.8%), from €199 to €838
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €341,286 | €645,331 | +€304,045 | +89.1% |
| Formation expenses | 20 | €4,340 | €3,318 | -€1,022 | -23.5% |
| Fixed assets | 21/28 | €221,796 | €473,632 | +€251,836 | +113.5% |
| Tangible fixed assets | 22/27 | €221,796 | €473,632 | +€251,836 | +113.5% |
| Land and buildings | 22 | €220,667 | €472,869 | +€252,202 | +114.3% |
| Furniture and vehicles | 24 | €1,129 | €764 | -€366 | -32.4% |
| Current assets | 29/58 | €115,149 | €168,380 | +€53,231 | +46.2% |
| Amounts receivable within one year | 40/41 | €112,765 | €157,582 | +€44,816 | +39.7% |
| Trade receivables | 40 | €103,677 | €139,648 | +€35,971 | +34.7% |
| Other amounts receivable | 41 | €9,088 | €17,933 | +€8,846 | +97.3% |
| Cash at bank and in hand | 54/58 | €695 | €9,577 | +€8,882 | +1278.1% |
| Deferred charges and accrued income | 490/1 | €1,689 | €1,221 | -€468 | -27.7% |
| Total equity and liabilities | 10/49 | €341,286 | €645,331 | +€304,045 | +89.1% |
| Equity | 10/15 | €64,858 | €95,724 | +€30,865 | +47.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €62,358 | €93,224 | +€30,865 | +49.5% |
| Distributable reserves | 133 | €62,358 | €93,224 | +€30,865 | +49.5% |
| Amounts payable | 17/49 | €276,427 | €549,607 | +€273,180 | +98.8% |
| Amounts payable after more than one year | 17 | €142,453 | €372,138 | +€229,686 | +161.2% |
| Financial debts | 170/4 | €142,453 | €372,138 | +€229,686 | +161.2% |
| Amounts payable within one year | 42/48 | €126,875 | €169,376 | +€42,502 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €19,003 | €28,462 | +€9,459 | +49.8% |
| Financial debts | 43 | €215 | €9,320 | +€9,105 | +4229.4% |
| Credit institutions | 430/8 | €215 | €9,320 | +€9,105 | +4229.4% |
| Trade debts | 44 | €80,629 | €124,112 | +€43,484 | +53.9% |
| Suppliers | 440/4 | €80,629 | €18,955 | -€61,673 | -76.5% |
| Bills of exchange payable | 441 | - | €105,157 | +€105,157 | |
| Taxes, remuneration and social security | 45 | €2,827 | €7,482 | +€4,655 | +164.6% |
| Taxes | 450/3 | €2,827 | €7,482 | +€4,655 | +164.6% |
| Other amounts payable | 47/48 | €24,200 | - | -€24,200 | |
| Accrued charges and deferred income | 492/3 | €7,100 | €8,092 | +€992 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,859 | €4,905 | +€3,046 | +163.9% |
| Other operating charges | 640/8 | €782 | €1,024 | +€242 | +31.0% |
| Gross operating margin | 9900 | €30,146 | €62,089 | +€31,943 | +106.0% |
| Operating profit (loss) | 9901 | €27,505 | €56,159 | +€28,655 | +104.2% |
| Financial income | 75/76B | €199 | €838 | +€639 | +320.8% |
| Recurring financial income | 75 | €199 | €838 | +€639 | +320.8% |
| Financial charges | 65/66B | €4,516 | €13,039 | +€8,523 | +188.7% |
| Recurring financial charges | 65 | €4,516 | €13,039 | +€8,523 | +188.7% |
| Profit (loss) for the period before taxes | 9903 | €23,188 | €43,959 | +€20,771 | +89.6% |
| Income taxes | 67/77 | €9,691 | €13,094 | +€3,403 | +35.1% |
| Profit (loss) for the period | 9904 | €13,496 | €30,865 | +€17,369 | +128.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,496 | €30,865 | +€17,369 | +128.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.