HOGI: 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.
HOGI
Largest movements
- Tangible fixed assets +€29,115
up €29,115 (+11.9%), from €243,726 to €272,841
of which Furniture and vehicles: +€33,522
- Receivables within one year -€25,961
down €25,961 (-47.2%), from €54,980 to €29,019
of which Trade receivables: -€15,956
- Cash +€8,512
up €8,512 (+25.3%), from €33,672 to €42,184
mainly Trade debts (+€39,538) and Depreciation (+€27,777)
- Trade debts +€39,538
up €39,538 (+1333.0%), from €2,966 to €42,504
- Accrued charges and deferred income -€28,184
down €28,184 (-100.0%), from €28,184 to €0
- Tax, wage and social debts -€16,967
down €16,967 (-35.9%), from €47,298 to €30,331
of which Taxes: -€16,519
- Debts after one year +€11,511
up €11,511 (+6.2%), from €184,641 to €196,152
- Current portion of long-term debt +€10,231
up €10,231 (+85.8%), from €11,926 to €22,157
- Gross operating margin -€62,032
down €62,032 (-45.5%), from €136,393 to €74,361
- Taxes -€15,465
down €15,465 (-82.1%), from €18,844 to €3,379
- Financial charges -€8,246
down €8,246 (-52.7%), from €15,631 to €7,386
- Other operating charges +€7,250
up €7,250 (+518.7%), from €1,398 to €8,647
- Depreciation +€6,739
up €6,739 (+32.0%), from €21,038 to €27,777
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 | €336,151 | €347,175 | +€11,024 | +3.3% |
| Fixed assets | 21/28 | €247,498 | €275,614 | +€28,115 | +11.4% |
| Intangible fixed assets | 21 | €3,632 | €2,632 | -€1,000 | -27.5% |
| Tangible fixed assets | 22/27 | €243,726 | €272,841 | +€29,115 | +11.9% |
| Land and buildings | 22 | €236,480 | €232,073 | -€4,407 | -1.9% |
| Plant, machinery and equipment | 23 | €6,563 | €6,563 | = | 0.0% |
| Furniture and vehicles | 24 | €683 | €34,205 | +€33,522 | +4910.9% |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €88,652 | €71,561 | -€17,091 | -19.3% |
| Amounts receivable within one year | 40/41 | €54,980 | €29,019 | -€25,961 | -47.2% |
| Trade receivables | 40 | €29,352 | €13,396 | -€15,956 | -54.4% |
| Other amounts receivable | 41 | €25,628 | €15,623 | -€10,005 | -39.0% |
| Cash at bank and in hand | 54/58 | €33,672 | €42,184 | +€8,512 | +25.3% |
| Deferred charges and accrued income | 490/1 | €0 | €358 | +€358 | |
| Total equity and liabilities | 10/49 | €336,151 | €347,175 | +€11,024 | +3.3% |
| Equity | 10/15 | €61,135 | €54,981 | -€6,155 | -10.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €23,268 | €23,268 | = | 0.0% |
| Distributable reserves | 133 | €23,268 | €23,268 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,667 | €25,512 | -€6,155 | -19.4% |
| Amounts payable | 17/49 | €275,015 | €292,194 | +€17,179 | +6.2% |
| Amounts payable after more than one year | 17 | €184,641 | €196,152 | +€11,511 | +6.2% |
| Financial debts | 170/4 | €184,641 | €196,152 | +€11,511 | +6.2% |
| Amounts payable within one year | 42/48 | €62,190 | €96,042 | +€33,852 | +54.4% |
| Current portion of amounts payable after more than one year | 42 | €11,926 | €22,157 | +€10,231 | +85.8% |
| Trade debts | 44 | €2,966 | €42,504 | +€39,538 | +1333.0% |
| Suppliers | 440/4 | €2,966 | €42,504 | +€39,538 | +1333.0% |
| Taxes, remuneration and social security | 45 | €47,298 | €30,331 | -€16,967 | -35.9% |
| Taxes | 450/3 | €38,804 | €22,284 | -€16,519 | -42.6% |
| Remuneration and social security | 454/9 | €8,494 | €8,046 | -€448 | -5.3% |
| Other amounts payable | 47/48 | €0 | €1,050 | +€1,050 | |
| Accrued charges and deferred income | 492/3 | €28,184 | €0 | -€28,184 | -100.0% |
| Remuneration, social security and pensions | 62 | €41,807 | €37,027 | -€4,780 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,038 | €27,777 | +€6,739 | +32.0% |
| Other operating charges | 640/8 | €1,398 | €8,647 | +€7,250 | +518.7% |
| Gross operating margin | 9900 | €136,393 | €74,361 | -€62,032 | -45.5% |
| Operating profit (loss) | 9901 | €72,151 | €910 | -€71,241 | -98.7% |
| Financial income | 75/76B | €56 | €3,699 | +€3,643 | +6492.1% |
| Recurring financial income | 75 | €56 | €3,699 | +€3,643 | +6492.1% |
| Financial charges | 65/66B | €15,631 | €7,386 | -€8,246 | -52.7% |
| Recurring financial charges | 65 | €15,631 | €7,386 | -€8,246 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €56,576 | -€2,776 | -€59,352 | |
| Income taxes | 67/77 | €18,844 | €3,379 | -€15,465 | -82.1% |
| Profit (loss) for the period | 9904 | €37,732 | -€6,155 | -€43,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,732 | -€6,155 | -€43,887 |
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 8 October 2026 via checked.be.