HOUGARDY DISTRIBUTION: 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.
What changed
HOUGARDY DISTRIBUTION
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€489,431
2024 · €473,913+€15,518
Equity
€868,277
2024 · €822,313+€45,965
Cash
€492,062
2024 · €611,775-€119,713
Balance sheet total
€3.2m
2024 · €3.2m-€64,633
Largest movements
Assets
- Cash -€119,713
down €119,713 (-19.6%), from €611,775 to €492,062
mainly Contributions, distributions and other (-€443,466) and Other debts (-€166,654)
- Stocks and contracts +€91,483
up €91,483 (+44.3%), from €206,600 to €298,082
- Tangible fixed assets -€34,011
down €34,011 (-3.6%), from €954,562 to €920,551
of which Land and buildings: -€44,213
Equity and liabilities
- Other debts -€166,654
down €166,654 (-37.0%), from €450,654 to €284,000
- Trade debts +€105,641
up €105,641 (+10.1%), from €1.1m to €1.2m
- Debts after one year -€79,743
down €79,743 (-13.6%), from €585,345 to €505,602
- Profit (loss) carried forward +€49,431
up €49,431 (+7.0%), from €706,194 to €755,625
Income statement
- Staff costs -€61,107
down €61,107 (-5.7%), from €1.1m to €1.0m
- Gross operating margin -€57,029
down €57,029 (-3.0%), from €1.9m to €1.9m
- Other operating charges -€33,136
down €33,136 (-49.0%), from €67,563 to €34,427
- Write-downs +€30,977
up €30,977 (+65.5%), from -€47,279 to -€16,302
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.
Result 2024
€473,913
Gross operating margin
-€57,029
Staff costs
+€61,107
Depreciation
-€3,721
Write-downs
-€30,977
Other operating charges
+€33,136
Other operating items
+€7,000
Financial income
+€476
Financial charges
+€1,491
Taxes
+€4,036
Result 2025
€489,431
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€512,695
Investment
-€133,927
Financing
-€498,481
Cash 2024
€611,775
From operations (derived)
+€512,695
Net result for the year
+€489,431
Depreciation
+€167,938
Stocks and contracts
-€91,483
Receivables within one year
-€17,117
Deferred charges and accrued income
+€19,509
Trade debts
+€105,641
Tax, wage and social debts
+€5,205
Other debts
-€166,654
Accrued charges and deferred income
+€225
Investment (derived)
-€133,927
Investment in fixed assets (net)
-€133,927
Financing
-€498,481
Debts after one year
-€79,743
Current portion of long-term debt
+€24,728
Contributions, distributions and other
-€443,466
Cash 2025
€492,062
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,223,918 | €3,159,285 | -€64,633 | -2.0% |
| Fixed assets | 21/28 | €961,996 | €927,985 | -€34,011 | -3.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €954,562 | €920,551 | -€34,011 | -3.6% |
| Land and buildings | 22 | €376,965 | €332,751 | -€44,213 | -11.7% |
| Plant, machinery and equipment | 23 | €113,148 | €130,841 | +€17,693 | +15.6% |
| Furniture and vehicles | 24 | €464,449 | €456,959 | -€7,491 | -1.6% |
| Financial fixed assets | 28 | €7,434 | €7,434 | = | 0.0% |
| Current assets | 29/58 | €2,261,923 | €2,231,300 | -€30,622 | -1.4% |
| Stocks and contracts in progress | 3 | €206,600 | €298,082 | +€91,483 | +44.3% |
| Stocks | 30/36 | €206,600 | €298,082 | +€91,483 | +44.3% |
| Amounts receivable within one year | 40/41 | €1,341,337 | €1,358,454 | +€17,117 | +1.3% |
| Trade receivables | 40 | €1,292,343 | €1,311,210 | +€18,867 | +1.5% |
| Other amounts receivable | 41 | €48,994 | €47,243 | -€1,750 | -3.6% |
| Cash at bank and in hand | 54/58 | €611,775 | €492,062 | -€119,713 | -19.6% |
| Deferred charges and accrued income | 490/1 | €102,211 | €82,702 | -€19,509 | -19.1% |
| Total equity and liabilities | 10/49 | €3,223,918 | €3,159,285 | -€64,633 | -2.0% |
| Equity | 10/15 | €822,313 | €868,277 | +€45,965 | +5.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €30,595 | €30,595 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,148 | €17,148 | = | 0.0% |
| Legal reserve | 130 | €17,148 | €17,148 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €3,447 | €3,447 | = | 0.0% |
| Profit (loss) carried forward | 14 | €706,194 | €755,625 | +€49,431 | +7.0% |
| Investment grants | 15 | €23,524 | €20,058 | -€3,466 | -14.7% |
| Provisions and deferred taxes | 16 | €0 | €0 | = | |
| Deferred taxes | 168 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,401,605 | €2,291,008 | -€110,598 | -4.6% |
| Amounts payable after more than one year | 17 | €585,345 | €505,602 | -€79,743 | -13.6% |
| Financial debts | 170/4 | €585,345 | €505,602 | -€79,743 | -13.6% |
| Amounts payable within one year | 42/48 | €1,811,260 | €1,780,181 | -€31,079 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €175,052 | €199,780 | +€24,728 | +14.1% |
| Trade debts | 44 | €1,051,118 | €1,156,759 | +€105,641 | +10.1% |
| Suppliers | 440/4 | €1,051,118 | €1,156,759 | +€105,641 | +10.1% |
| Taxes, remuneration and social security | 45 | €134,437 | €139,641 | +€5,205 | +3.9% |
| Taxes | 450/3 | €47,368 | €39,928 | -€7,440 | -15.7% |
| Remuneration and social security | 454/9 | €87,069 | €99,714 | +€12,645 | +14.5% |
| Other amounts payable | 47/48 | €450,654 | €284,000 | -€166,654 | -37.0% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,225 | +€225 | +4.5% |
| Remuneration, social security and pensions | 62 | €1,079,469 | €1,018,363 | -€61,107 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,217 | €167,938 | +€3,721 | +2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€47,279 | -€16,302 | +€30,977 | +65.5% |
| Other operating charges | 640/8 | €67,563 | €34,427 | -€33,136 | -49.0% |
| Non-recurring operating charges | 66A | €7,000 | €0 | -€7,000 | -100% |
| Gross operating margin | 9900 | €1,926,130 | €1,869,102 | -€57,029 | -3.0% |
| Operating profit (loss) | 9901 | €655,161 | €664,676 | +€9,516 | +1.5% |
| Financial income | 75/76B | €6,434 | €6,910 | +€476 | +7.4% |
| Recurring financial income | 75 | €6,434 | €6,910 | +€476 | +7.4% |
| Financial charges | 65/66B | €27,616 | €26,125 | -€1,491 | -5.4% |
| Recurring financial charges | 65 | €27,616 | €26,125 | -€1,491 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €633,979 | €645,461 | +€11,482 | +1.8% |
| Income taxes | 67/77 | €160,066 | €156,030 | -€4,036 | -2.5% |
| Profit (loss) for the period | 9904 | €473,913 | €489,431 | +€15,518 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €473,913 | €489,431 | +€15,518 | +3.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.