HOGENBERG: 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.
HOGENBERG
Largest movements
- Receivables within one year +€9,240
up €9,240 (+3,270%), from €283 to €9,522
of which Other amounts receivable: +€9,522
- Reserves +€20,058
up €20,058 (+11.4%), from €175,385 to €195,443
of which Distributable reserves: +€20,058
- Tax, wage and social debts -€10,610
down €10,610 (-58.8%), from €18,042 to €7,432
of which Taxes: -€8,246
- Gross operating margin -€23,163
down €23,163 (-17.9%), from €129,666 to €106,503
- Taxes -€10,563
down €10,563 (-47.1%), from €22,407 to €11,844
- Staff costs -€2,799
down €2,799 (-6.4%), from €43,750 to €40,951
- Depreciation +€2,049
up €2,049 (+33.2%), from €6,176 to €8,225
- Financial income -€1,560
down €1,560 (-58.7%), from €2,657 to €1,097
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 | €227,559 | €236,681 | +€9,122 | +4.0% |
| Fixed assets | 21/28 | €27,121 | €27,326 | +€204 | +0.8% |
| Tangible fixed assets | 22/27 | €24,121 | €24,326 | +€204 | +0.8% |
| Plant, machinery and equipment | 23 | €12,240 | €15,124 | +€2,884 | +23.6% |
| Furniture and vehicles | 24 | €1,088 | €500 | -€588 | -54.0% |
| Other tangible fixed assets | 26 | €10,794 | €8,701 | -€2,092 | -19.4% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €200,438 | €209,356 | +€8,918 | +4.4% |
| Stocks and contracts in progress | 3 | €15,383 | €15,757 | +€374 | +2.4% |
| Stocks | 30/36 | €15,383 | €15,757 | +€374 | +2.4% |
| Amounts receivable within one year | 40/41 | €283 | €9,522 | +€9,240 | +3,270% |
| Trade receivables | 40 | €283 | - | -€283 | |
| Other amounts receivable | 41 | - | €9,522 | +€9,522 | |
| Cash at bank and in hand | 54/58 | €181,703 | €181,056 | -€648 | -0.4% |
| Deferred charges and accrued income | 490/1 | €3,069 | €3,021 | -€48 | -1.6% |
| Total equity and liabilities | 10/49 | €227,559 | €236,681 | +€9,122 | +4.0% |
| Equity | 10/15 | €195,946 | €216,004 | +€20,058 | +10.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €175,385 | €195,443 | +€20,058 | +11.4% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €170,385 | €190,443 | +€20,058 | +11.8% |
| Profit (loss) carried forward | 14 | €561 | €561 | = | 0.0% |
| Amounts payable | 17/49 | €31,613 | €20,677 | -€10,936 | -34.6% |
| Amounts payable within one year | 42/48 | €31,613 | €20,652 | -€10,961 | -34.7% |
| Trade debts | 44 | €6,585 | €5,122 | -€1,463 | -22.2% |
| Suppliers | 440/4 | €6,585 | €5,122 | -€1,463 | -22.2% |
| Taxes, remuneration and social security | 45 | €18,042 | €7,432 | -€10,610 | -58.8% |
| Taxes | 450/3 | €15,420 | €7,174 | -€8,246 | -53.5% |
| Remuneration and social security | 454/9 | €2,622 | €258 | -€2,364 | -90.2% |
| Other amounts payable | 47/48 | €6,986 | €8,097 | +€1,112 | +15.9% |
| Accrued charges and deferred income | 492/3 | - | €25 | +€25 | |
| Remuneration, social security and pensions | 62 | €43,750 | €40,951 | -€2,799 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,176 | €8,225 | +€2,049 | +33.2% |
| Other operating charges | 640/8 | €3,106 | €3,336 | +€230 | +7.4% |
| Gross operating margin | 9900 | €129,666 | €106,503 | -€23,163 | -17.9% |
| Operating profit (loss) | 9901 | €76,635 | €53,990 | -€22,644 | -29.5% |
| Financial income | 75/76B | €2,657 | €1,097 | -€1,560 | -58.7% |
| Recurring financial income | 75 | €2,657 | €1,097 | -€1,560 | -58.7% |
| Financial charges | 65/66B | €2,652 | €3,825 | +€1,173 | +44.2% |
| Recurring financial charges | 65 | €2,652 | €3,825 | +€1,173 | +44.2% |
| Profit (loss) for the period before taxes | 9903 | €76,640 | €51,262 | -€25,377 | -33.1% |
| Income taxes | 67/77 | €22,407 | €11,844 | -€10,563 | -47.1% |
| Profit (loss) for the period | 9904 | €54,233 | €39,419 | -€14,814 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,233 | €39,419 | -€14,814 | -27.3% |
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 13 October 2026 via checked.be.