HONG PING GUO: what changed
HONG PING GUO
Largest movements
- Cash +€73,404
up €73,404 (+39.6%), from €185,433 to €258,836
mainly Net result for the year (+€110,646) and Tax, wage and social debts (+€34,216)
- Receivables within one year +€9,853
up €9,853 (+235%), from €4,198 to €14,051
of which Trade receivables: +€9,780
- Profit (loss) carried forward +€110,646
up €110,646 (+64.8%), from €170,753 to €281,399
- Other debts -€59,960
no longer reported in 2025 (was €59,960)
- Tax, wage and social debts +€34,216
up €34,216 (+46.8%), from €73,052 to €107,269
of which Taxes: +€31,710
- Gross operating margin -€53,027
down €53,027 (-17.5%), from €302,543 to €249,516
- Staff costs +€21,451
up €21,451 (+39.4%), from €54,396 to €75,847
- Purchases and services +€21,141
up €21,141 (+6.9%), from €305,277 to €326,417
- Taxes -€20,013
down €20,013 (-39.7%), from €50,387 to €30,373
- Depreciation +€3,698
up €3,698 (+13.8%), from €26,856 to €30,554
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €309,551 | €396,462 | +€86,911 | +28.1% |
| Formation expenses | 20 | €1,088 | €811 | -€277 | -25.5% |
| Fixed assets | 21/28 | €117,325 | €120,736 | +€3,411 | +2.9% |
| Tangible fixed assets | 22/27 | €112,128 | €115,539 | +€3,411 | +3.0% |
| Land and buildings | 22 | €4,483 | €20,354 | +€15,871 | +354% |
| Plant, machinery and equipment | 23 | €97,346 | €85,211 | -€12,135 | -12.5% |
| Furniture and vehicles | 24 | €10,299 | €9,974 | -€325 | -3.2% |
| Financial fixed assets | 28 | €5,197 | €5,197 | = | 0.0% |
| Current assets | 29/58 | €191,137 | €274,914 | +€83,777 | +43.8% |
| Stocks and contracts in progress | 3 | €1,507 | €2,027 | +€520 | +34.5% |
| Stocks | 30/36 | €1,507 | €2,027 | +€520 | +34.5% |
| Amounts receivable within one year | 40/41 | €4,198 | €14,051 | +€9,853 | +235% |
| Trade receivables | 40 | €4,028 | €13,809 | +€9,780 | +243% |
| Other amounts receivable | 41 | €169 | €242 | +€73 | +43.0% |
| Cash at bank and in hand | 54/58 | €185,433 | €258,836 | +€73,404 | +39.6% |
| Total equity and liabilities | 10/49 | €309,551 | €396,462 | +€86,911 | +28.1% |
| Equity | 10/15 | €170,753 | €281,399 | +€110,646 | +64.8% |
| Profit (loss) carried forward | 14 | €170,753 | €281,399 | +€110,646 | +64.8% |
| Amounts payable | 17/49 | €138,798 | €115,062 | -€23,735 | -17.1% |
| Amounts payable within one year | 42/48 | €138,798 | €115,062 | -€23,735 | -17.1% |
| Trade debts | 44 | €5,785 | €7,794 | +€2,008 | +34.7% |
| Suppliers | 440/4 | €5,785 | €7,794 | +€2,008 | +34.7% |
| Taxes, remuneration and social security | 45 | €73,052 | €107,269 | +€34,216 | +46.8% |
| Taxes | 450/3 | €62,948 | €94,657 | +€31,710 | +50.4% |
| Remuneration and social security | 454/9 | €10,105 | €12,611 | +€2,507 | +24.8% |
| Other amounts payable | 47/48 | €59,960 | - | -€59,960 | |
| Goods, raw materials, services and sundry goods | 60/61 | €305,277 | €326,417 | +€21,141 | +6.9% |
| Remuneration, social security and pensions | 62 | €54,396 | €75,847 | +€21,451 | +39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,856 | €30,554 | +€3,698 | +13.8% |
| Other operating charges | 640/8 | €150 | €2,092 | +€1,941 | +1,291% |
| Gross operating margin | 9900 | €302,543 | €249,516 | -€53,027 | -17.5% |
| Operating profit (loss) | 9901 | €221,140 | €141,023 | -€80,117 | -36.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €0 | €4 | +€4 | +37,100% |
| Recurring financial charges | 65 | €0 | €4 | +€4 | +37,100% |
| Profit (loss) for the period before taxes | 9903 | €221,140 | €141,020 | -€80,120 | -36.2% |
| Income taxes | 67/77 | €50,387 | €30,373 | -€20,013 | -39.7% |
| Profit (loss) for the period | 9904 | €170,753 | €110,646 | -€60,107 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €170,753 | €110,646 | -€60,107 | -35.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.