HOGIR: 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.
HOGIR
Largest movements
- Receivables within one year +€25,756
up €25,756 (+40.9%), from €62,941 to €88,697
of which Trade receivables: +€25,506
- Deferred charges and accrued income -€18,603
no longer reported in 2025 (was €18,603)
- Cash -€13,116
down €13,116 (-38.9%), from €33,706 to €20,590
mainly Net result for the year (-€45,576) and Receivables within one year (-€25,756)
- Tangible fixed assets -€5,100
down €5,100 (-33.4%), from €15,247 to €10,147
of which Plant, machinery and equipment: -€3,000
- Profit (loss) carried forward -€45,576
down €45,576 (-32.4%), from -€140,735 to -€186,311
- Tax, wage and social debts +€33,499
up €33,499 (+29.1%), from €115,096 to €148,595
of which Remuneration and social security: +€19,157
- Accrued charges and deferred income -€20,404
no longer reported in 2025 (was €20,404)
- Trade debts +€14,943
up €14,943 (+15.6%), from €95,647 to €110,590
- Other debts +€6,475
up €6,475 (+45.2%), from €14,317 to €20,792
- Gross operating margin +€91,124
up €91,124, from -€62,390 to €28,734
- Staff costs +€17,387
up €17,387 (+39.2%), from €44,380 to €61,767
- Other operating charges -€9,411
no longer reported in 2025 (was €9,411)
- Financial charges -€1,147
down €1,147 (-22.8%), from €5,033 to €3,886
- Depreciation +€721
up €721 (+16.5%), from €4,379 to €5,100
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 | €130,497 | €119,434 | -€11,063 | -8.5% |
| Fixed assets | 21/28 | €15,247 | €10,147 | -€5,100 | -33.4% |
| Tangible fixed assets | 22/27 | €15,247 | €10,147 | -€5,100 | -33.4% |
| Plant, machinery and equipment | 23 | €6,937 | €3,937 | -€3,000 | -43.2% |
| Furniture and vehicles | 24 | €8,310 | €6,210 | -€2,100 | -25.3% |
| Current assets | 29/58 | €115,250 | €109,287 | -€5,963 | -5.2% |
| Amounts receivable within one year | 40/41 | €62,941 | €88,697 | +€25,756 | +40.9% |
| Trade receivables | 40 | €62,941 | €88,447 | +€25,506 | +40.5% |
| Other amounts receivable | 41 | - | €250 | +€250 | |
| Cash at bank and in hand | 54/58 | €33,706 | €20,590 | -€13,116 | -38.9% |
| Deferred charges and accrued income | 490/1 | €18,603 | - | -€18,603 | |
| Total equity and liabilities | 10/49 | €130,497 | €119,434 | -€11,063 | -8.5% |
| Equity | 10/15 | -€122,135 | -€167,711 | -€45,576 | -37.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,735 | -€186,311 | -€45,576 | -32.4% |
| Amounts payable | 17/49 | €252,632 | €287,145 | +€34,513 | +13.7% |
| Amounts payable within one year | 42/48 | €232,228 | €287,145 | +€54,917 | +23.6% |
| Trade debts | 44 | €95,647 | €110,590 | +€14,943 | +15.6% |
| Suppliers | 440/4 | €95,647 | €110,590 | +€14,943 | +15.6% |
| Advances received on contracts in progress | 46 | €7,168 | €7,168 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €115,096 | €148,595 | +€33,499 | +29.1% |
| Taxes | 450/3 | €99,889 | €114,231 | +€14,342 | +14.4% |
| Remuneration and social security | 454/9 | €15,207 | €34,364 | +€19,157 | +126.0% |
| Other amounts payable | 47/48 | €14,317 | €20,792 | +€6,475 | +45.2% |
| Accrued charges and deferred income | 492/3 | €20,404 | - | -€20,404 | |
| Remuneration, social security and pensions | 62 | €44,380 | €61,767 | +€17,387 | +39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,379 | €5,100 | +€721 | +16.5% |
| Other operating charges | 640/8 | €9,411 | - | -€9,411 | |
| Non-recurring operating charges | 66A | €23,934 | €3,450 | -€20,484 | -85.6% |
| Gross operating margin | 9900 | -€62,390 | €28,734 | +€91,124 | |
| Operating profit (loss) | 9901 | -€144,494 | -€41,583 | +€102,911 | +71.2% |
| Financial charges | 65/66B | €5,033 | €3,886 | -€1,147 | -22.8% |
| Recurring financial charges | 65 | €5,033 | €3,886 | -€1,147 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€149,527 | -€45,469 | +€104,058 | +69.6% |
| Income taxes | 67/77 | - | €107 | +€107 | |
| Profit (loss) for the period | 9904 | -€149,527 | -€45,576 | +€103,951 | +69.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,527 | -€45,576 | +€103,951 | +69.5% |
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 11 October 2026 via checked.be.