HOANG PRESS: 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.
HOANG PRESS
Largest movements
- Receivables after one year +€50,000
up €50,000 (+21.3%), from €235,000 to €285,000
- Receivables within one year -€21,382
down €21,382 (-30.7%), from €69,621 to €48,239
of which Trade receivables: -€17,026
- Cash -€9,805
down €9,805 (-62.1%), from €15,782 to €5,977
mainly Receivables after one year (-€50,000) and Current portion of long-term debt (-€11,313)
- Reserves +€38,897
up €38,897 (+14.4%), from €270,210 to €309,107
of which Distributable reserves: +€38,897
- Current portion of long-term debt -€11,313
down €11,313 (-88.8%), from €12,737 to €1,424
- Trade debts -€6,437
down €6,437 (-25.4%), from €25,296 to €18,859
- Taxes -€3,518
down €3,518 (-14.6%), from €24,145 to €20,627
- Gross operating margin +€1,807
up €1,807 (+2.3%), from €79,305 to €81,111
- Financial income +€1,091
up €1,091 (+17.7%), from €6,162 to €7,253
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 | €333,182 | €352,382 | +€19,200 | +5.8% |
| Fixed assets | 21/28 | €12,779 | €13,166 | +€387 | +3.0% |
| Tangible fixed assets | 22/27 | €2,629 | €3,016 | +€387 | +14.7% |
| Furniture and vehicles | 24 | €2,629 | €3,016 | +€387 | +14.7% |
| Financial fixed assets | 28 | €10,150 | €10,150 | = | 0.0% |
| Current assets | 29/58 | €320,403 | €339,216 | +€18,813 | +5.9% |
| Amounts receivable after more than one year | 29 | €235,000 | €285,000 | +€50,000 | +21.3% |
| Other amounts receivable | 291 | €235,000 | €285,000 | +€50,000 | +21.3% |
| Amounts receivable within one year | 40/41 | €69,621 | €48,239 | -€21,382 | -30.7% |
| Trade receivables | 40 | €21,145 | €4,119 | -€17,026 | -80.5% |
| Other amounts receivable | 41 | €48,476 | €44,120 | -€4,356 | -9.0% |
| Cash at bank and in hand | 54/58 | €15,782 | €5,977 | -€9,805 | -62.1% |
| Total equity and liabilities | 10/49 | €333,182 | €352,382 | +€19,200 | +5.8% |
| Equity | 10/15 | €276,410 | €315,307 | +€38,897 | +14.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €270,210 | €309,107 | +€38,897 | +14.4% |
| Tax-exempt reserves | 132 | €16,430 | €16,430 | = | 0.0% |
| Distributable reserves | 133 | €253,780 | €292,677 | +€38,897 | +15.3% |
| Amounts payable | 17/49 | €56,773 | €37,076 | -€19,697 | -34.7% |
| Amounts payable after more than one year | 17 | €520 | - | -€520 | |
| Financial debts | 170/4 | €520 | - | -€520 | |
| Amounts payable within one year | 42/48 | €56,253 | €37,076 | -€19,177 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €12,737 | €1,424 | -€11,313 | -88.8% |
| Trade debts | 44 | €25,296 | €18,859 | -€6,437 | -25.4% |
| Suppliers | 440/4 | €25,296 | €18,859 | -€6,437 | -25.4% |
| Taxes, remuneration and social security | 45 | €18,219 | €16,792 | -€1,428 | -7.8% |
| Taxes | 450/3 | €14,857 | €13,627 | -€1,230 | -8.3% |
| Remuneration and social security | 454/9 | €3,362 | €3,165 | -€197 | -5.9% |
| Remuneration, social security and pensions | 62 | €24,758 | €25,284 | +€526 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,177 | €1,334 | +€157 | +13.4% |
| Other operating charges | 640/8 | - | €93 | +€93 | |
| Non-recurring operating charges | 66A | €964 | - | -€964 | |
| Gross operating margin | 9900 | €79,305 | €81,111 | +€1,807 | +2.3% |
| Operating profit (loss) | 9901 | €52,406 | €54,400 | +€1,994 | +3.8% |
| Financial income | 75/76B | €6,162 | €7,253 | +€1,091 | +17.7% |
| Recurring financial income | 75 | €6,162 | €7,253 | +€1,091 | +17.7% |
| Financial charges | 65/66B | €2,660 | €2,129 | -€530 | -19.9% |
| Recurring financial charges | 65 | €2,660 | €2,129 | -€530 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €55,909 | €59,524 | +€3,615 | +6.5% |
| Income taxes | 67/77 | €24,145 | €20,627 | -€3,518 | -14.6% |
| Profit (loss) for the period | 9904 | €31,764 | €38,897 | +€7,133 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,764 | €38,897 | +€7,133 | +22.5% |
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 29 October 2026 via checked.be.