HOOGEWYS - BAERT: 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.
HOOGEWYS - BAERT
Largest movements
- Receivables within one year -€82,762
down €82,762 (-55.2%), from €149,813 to €67,051
of which Other amounts receivable: -€81,840
- Cash -€14,907
down €14,907 (-47.0%), from €31,726 to €16,819
mainly Short-term financial debts (-€24,500) and Trade debts (-€21,651)
- Stocks and contracts +€5,500
up €5,500 (+15.9%), from €34,500 to €40,000
- Short-term financial debts -€24,500
no longer reported in 2025 (was €24,500)
- Trade debts -€21,651
down €21,651 (-34.7%), from €62,483 to €40,831
- Profit (loss) carried forward -€19,448
down €19,448, from €10,549 to -€8,899
- Tax, wage and social debts -€15,510
down €15,510 (-37.6%), from €41,299 to €25,788
of which Remuneration and social security: -€11,009
- Current portion of long-term debt -€11,866
down €11,866 (-91.5%), from €12,971 to €1,105
- Gross operating margin -€72,485
down €72,485 (-34.3%), from €211,327 to €138,842
- Staff costs -€7,043
down €7,043 (-4.6%), from €154,213 to €147,170
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 | €236,592 | €142,222 | -€94,371 | -39.9% |
| Fixed assets | 21/28 | €18,801 | €16,732 | -€2,069 | -11.0% |
| Tangible fixed assets | 22/27 | €18,801 | €16,732 | -€2,069 | -11.0% |
| Land and buildings | 22 | €12,827 | €12,827 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,268 | €3,682 | -€1,587 | -30.1% |
| Furniture and vehicles | 24 | €705 | €223 | -€482 | -68.4% |
| Current assets | 29/58 | €217,792 | €125,490 | -€92,301 | -42.4% |
| Stocks and contracts in progress | 3 | €34,500 | €40,000 | +€5,500 | +15.9% |
| Stocks | 30/36 | €34,500 | €40,000 | +€5,500 | +15.9% |
| Amounts receivable within one year | 40/41 | €149,813 | €67,051 | -€82,762 | -55.2% |
| Trade receivables | 40 | €28,594 | €27,672 | -€922 | -3.2% |
| Other amounts receivable | 41 | €121,219 | €39,379 | -€81,840 | -67.5% |
| Cash at bank and in hand | 54/58 | €31,726 | €16,819 | -€14,907 | -47.0% |
| Deferred charges and accrued income | 490/1 | €1,753 | €1,620 | -€132 | -7.6% |
| Total equity and liabilities | 10/49 | €236,592 | €142,222 | -€94,371 | -39.9% |
| Equity | 10/15 | €58,957 | €39,509 | -€19,448 | -33.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €29,816 | €29,816 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,757 | €11,757 | = | 0.0% |
| Distributable reserves | 133 | €18,059 | €18,059 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,549 | -€8,899 | -€19,448 | |
| Amounts payable | 17/49 | €177,635 | €102,713 | -€74,922 | -42.2% |
| Amounts payable after more than one year | 17 | €1,105 | - | -€1,105 | |
| Financial debts | 170/4 | €1,105 | - | -€1,105 | |
| Amounts payable within one year | 42/48 | €175,807 | €102,251 | -€73,556 | -41.8% |
| Current portion of amounts payable after more than one year | 42 | €12,971 | €1,105 | -€11,866 | -91.5% |
| Financial debts | 43 | €24,500 | - | -€24,500 | |
| Credit institutions | 430/8 | €24,500 | - | -€24,500 | |
| Trade debts | 44 | €62,483 | €40,831 | -€21,651 | -34.7% |
| Suppliers | 440/4 | €62,483 | €40,831 | -€21,651 | -34.7% |
| Taxes, remuneration and social security | 45 | €41,299 | €25,788 | -€15,510 | -37.6% |
| Taxes | 450/3 | €8,312 | €3,810 | -€4,502 | -54.2% |
| Remuneration and social security | 454/9 | €32,987 | €21,978 | -€11,009 | -33.4% |
| Other amounts payable | 47/48 | €34,555 | €34,526 | -€28 | -0.1% |
| Accrued charges and deferred income | 492/3 | €723 | €462 | -€261 | -36.1% |
| Remuneration, social security and pensions | 62 | €154,213 | €147,170 | -€7,043 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,498 | €3,127 | -€371 | -10.6% |
| Other operating charges | 640/8 | €2,655 | €2,758 | +€103 | +3.9% |
| Gross operating margin | 9900 | €211,327 | €138,842 | -€72,485 | -34.3% |
| Operating profit (loss) | 9901 | €50,960 | -€14,213 | -€65,174 | |
| Financial income | 75/76B | €2 | €261 | +€259 | +12,645% |
| Recurring financial income | 75 | €2 | €261 | +€259 | +12,645% |
| Financial charges | 65/66B | €6,679 | €5,496 | -€1,184 | -17.7% |
| Recurring financial charges | 65 | €6,679 | €5,496 | -€1,184 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €44,283 | -€19,448 | -€63,731 | |
| Profit (loss) for the period | 9904 | €44,283 | -€19,448 | -€63,731 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,283 | -€19,448 | -€63,731 |
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 19 October 2026 via checked.be.