HRN13 Group: 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.
HRN13 Group
Largest movements
- Current investments -€90,519
down €90,519 (-78.6%), from €115,179 to €24,660
- Receivables within one year +€40,758
up €40,758 (+5,181%), from €787 to €41,544
of which Trade receivables: +€36,306
- Cash -€35,444
down €35,444 (-81.1%), from €43,711 to €8,267
mainly Contributions, distributions and other (-€118,000) and Receivables within one year (-€40,758)
- Tangible fixed assets -€26,198
down €26,198 (-20.6%), from €127,376 to €101,178
of which Furniture and vehicles: -€27,753
- Reserves -€86,212
down €86,212 (-37.2%), from €232,018 to €145,806
- Tax, wage and social debts -€25,128
down €25,128 (-58.3%), from €43,120 to €17,993
of which Taxes: -€27,193
- Gross operating margin -€72,745
down €72,745 (-59.6%), from €122,058 to €49,313
- Depreciation +€19,471
up €19,471 (+213%), from €9,158 to €28,630
- Taxes -€19,326
down €19,326 (-79.5%), from €24,306 to €4,980
- Financial income +€15,795
up €15,795 (+1,405%), from €1,124 to €16,919
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 | €290,119 | €177,984 | -€112,135 | -38.7% |
| Fixed assets | 21/28 | €127,376 | €101,178 | -€26,198 | -20.6% |
| Tangible fixed assets | 22/27 | €127,376 | €101,178 | -€26,198 | -20.6% |
| Furniture and vehicles | 24 | €125,047 | €97,294 | -€27,753 | -22.2% |
| Other tangible fixed assets | 26 | €2,329 | €3,884 | +€1,554 | +66.7% |
| Current assets | 29/58 | €162,743 | €76,806 | -€85,937 | -52.8% |
| Amounts receivable within one year | 40/41 | €787 | €41,544 | +€40,758 | +5,181% |
| Trade receivables | 40 | - | €36,306 | +€36,306 | |
| Other amounts receivable | 41 | €787 | €5,239 | +€4,452 | +566% |
| Current investments | 50/53 | €115,179 | €24,660 | -€90,519 | -78.6% |
| Cash at bank and in hand | 54/58 | €43,711 | €8,267 | -€35,444 | -81.1% |
| Deferred charges and accrued income | 490/1 | €3,066 | €2,335 | -€731 | -23.9% |
| Total equity and liabilities | 10/49 | €290,119 | €177,984 | -€112,135 | -38.7% |
| Equity | 10/15 | €242,018 | €155,806 | -€86,212 | -35.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €232,018 | €145,806 | -€86,212 | -37.2% |
| Distributable reserves | 133 | €232,018 | €145,806 | -€86,212 | -37.2% |
| Amounts payable | 17/49 | €48,101 | €22,178 | -€25,923 | -53.9% |
| Amounts payable within one year | 42/48 | €47,101 | €21,178 | -€25,923 | -55.0% |
| Financial debts | 43 | - | €1,683 | +€1,683 | |
| Credit institutions | 430/8 | - | €1,683 | +€1,683 | |
| Trade debts | 44 | €1,144 | €984 | -€160 | -14.0% |
| Suppliers | 440/4 | €1,144 | €984 | -€160 | -14.0% |
| Taxes, remuneration and social security | 45 | €43,120 | €17,993 | -€25,128 | -58.3% |
| Taxes | 450/3 | €43,120 | €15,928 | -€27,193 | -63.1% |
| Remuneration and social security | 454/9 | - | €2,065 | +€2,065 | |
| Other amounts payable | 47/48 | €2,837 | €518 | -€2,319 | -81.7% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,158 | €28,630 | +€19,471 | +213% |
| Other operating charges | 640/8 | €899 | €585 | -€314 | -34.9% |
| Gross operating margin | 9900 | €122,058 | €49,313 | -€72,745 | -59.6% |
| Operating profit (loss) | 9901 | €112,001 | €20,098 | -€91,903 | -82.1% |
| Financial income | 75/76B | €1,124 | €16,919 | +€15,795 | +1,405% |
| Recurring financial income | 75 | €1,124 | €16,919 | +€15,795 | +1,405% |
| Financial charges | 65/66B | €177 | €249 | +€72 | +40.8% |
| Recurring financial charges | 65 | €177 | €249 | +€72 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €112,948 | €36,768 | -€76,180 | -67.4% |
| Income taxes | 67/77 | €24,306 | €4,980 | -€19,326 | -79.5% |
| Profit (loss) for the period | 9904 | €88,642 | €31,788 | -€56,854 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,642 | €31,788 | -€56,854 | -64.1% |
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 16 October 2026 via checked.be.