HTEG: what changed
Two fiscal 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.
HTEG
Largest movements
- Cash -€51,540
down €51,540 (-85.6%), from €60,222 to €8,682
mainly Net result for the year (-€25,366) and Tax, wage and social debts (-€19,143)
- Tangible fixed assets -€5,641
down €5,641 (-10.1%), from €56,113 to €50,472
of which Plant, machinery and equipment: -€3,962
- Receivables within one year +€2,165
up €2,165 (+3.9%), from €55,215 to €57,380
of which Trade receivables: +€3,839
- Reserves -€22,903
down €22,903 (-20.0%), from €114,514 to €91,612
of which Distributable reserves: -€22,903
- Tax, wage and social debts -€19,143
down €19,143 (-86.0%), from €22,267 to €3,125
- Other debts -€13,088
down €13,088 (-100.0%), from €13,088 to €0
- Trade debts +€6,449
up €6,449 (+728.1%), from €886 to €7,335
- Debts after one year -€2,621
down €2,621 (-14.7%), from €17,877 to €15,255
- Gross operating margin -€60,540
down €60,540, from €47,883 to -€12,657
- Taxes -€7,713
down €7,713 (-96.8%), from €7,970 to €257
- Depreciation -€7,206
down €7,206 (-51.8%), from €13,912 to €6,706
- Other operating charges -€727
down €727 (-28.1%), from €2,584 to €1,857
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 | €183,596 | €130,084 | -€53,511 | -29.1% |
| Fixed assets | 21/28 | €66,949 | €61,744 | -€5,206 | -7.8% |
| Intangible fixed assets | 21 | €10,836 | €11,272 | +€436 | +4.0% |
| Tangible fixed assets | 22/27 | €56,113 | €50,472 | -€5,641 | -10.1% |
| Land and buildings | 22 | €28,177 | €27,236 | -€942 | -3.3% |
| Plant, machinery and equipment | 23 | €25,413 | €21,451 | -€3,962 | -15.6% |
| Furniture and vehicles | 24 | €2,523 | €1,786 | -€738 | -29.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €116,647 | €68,341 | -€48,306 | -41.4% |
| Amounts receivable within one year | 40/41 | €55,215 | €57,380 | +€2,165 | +3.9% |
| Trade receivables | 40 | €16,702 | €20,541 | +€3,839 | +23.0% |
| Other amounts receivable | 41 | €38,513 | €36,838 | -€1,675 | -4.3% |
| Cash at bank and in hand | 54/58 | €60,222 | €8,682 | -€51,540 | -85.6% |
| Deferred charges and accrued income | 490/1 | €1,209 | €2,279 | +€1,070 | +88.5% |
| Total equity and liabilities | 10/49 | €183,596 | €130,084 | -€53,511 | -29.1% |
| Equity | 10/15 | €127,114 | €101,748 | -€25,366 | -20.0% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €114,514 | €91,612 | -€22,903 | -20.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,484 | €3,484 | = | 0.0% |
| Distributable reserves | 133 | €109,170 | €86,267 | -€22,903 | -21.0% |
| Profit (loss) carried forward | 14 | €0 | -€2,463 | -€2,463 | |
| Amounts payable | 17/49 | €56,481 | €28,336 | -€28,145 | -49.8% |
| Amounts payable after more than one year | 17 | €17,877 | €15,255 | -€2,621 | -14.7% |
| Financial debts | 170/4 | €17,877 | €15,255 | -€2,621 | -14.7% |
| Amounts payable within one year | 42/48 | €38,605 | €13,081 | -€25,524 | -66.1% |
| Current portion of amounts payable after more than one year | 42 | €2,364 | €2,621 | +€257 | +10.9% |
| Trade debts | 44 | €886 | €7,335 | +€6,449 | +728.1% |
| Suppliers | 440/4 | €886 | €7,335 | +€6,449 | +728.1% |
| Taxes, remuneration and social security | 45 | €22,267 | €3,125 | -€19,143 | -86.0% |
| Taxes | 450/3 | €22,267 | €3,125 | -€19,143 | -86.0% |
| Other amounts payable | 47/48 | €13,088 | €0 | -€13,088 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €23,176 | €0 | -€23,176 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,912 | €6,706 | -€7,206 | -51.8% |
| Other operating charges | 640/8 | €2,584 | €1,857 | -€727 | -28.1% |
| Gross operating margin | 9900 | €47,883 | -€12,657 | -€60,540 | |
| Operating profit (loss) | 9901 | €31,387 | -€21,220 | -€52,607 | |
| Financial income | 75/76B | €92 | €77 | -€15 | -16.4% |
| Recurring financial income | 75 | €92 | €77 | -€15 | -16.4% |
| Financial charges | 65/66B | €3,801 | €3,967 | +€165 | +4.3% |
| Recurring financial charges | 65 | €3,801 | €3,967 | +€165 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €27,678 | -€25,109 | -€52,787 | |
| Income taxes | 67/77 | €7,970 | €257 | -€7,713 | -96.8% |
| Profit (loss) for the period | 9904 | €19,708 | -€25,366 | -€45,075 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,708 | -€25,366 | -€45,075 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.