A WIDE HUB: 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.
A WIDE HUB
Largest movements
- Financial fixed assets +€359,960
up €359,960 (+2,760%), from €13,040 to €373,000
- Receivables within one year -€38,431
down €38,431 (-40.2%), from €95,481 to €57,050
of which Trade receivables: -€30,054
- Cash -€13,240
down €13,240 (-65.8%), from €20,128 to €6,887
mainly Investment in fixed assets (net) (-€359,960) and Trade debts (-€14,709)
- Stocks and contracts +€4,681
up €4,681 (+26.5%), from €17,631 to €22,312
- Other debts +€313,927
new in 2025: €313,927
- Short-term financial debts +€25,000
new in 2025: €25,000
- Trade debts -€14,709
down €14,709 (-83.7%), from €17,570 to €2,861
- Tax, wage and social debts -€10,333
down €10,333 (-47.2%), from €21,875 to €11,542
- Profit (loss) carried forward -€7,939
down €7,939 (-33.6%), from €23,614 to €15,675
- Other operating charges +€19,073
up €19,073 (+1,466%), from €1,301 to €20,374
- Gross operating margin -€15,427
down €15,427 (-35.9%), from €43,016 to €27,588
- Taxes -€3,198
down €3,198 (-56.1%), from €5,697 to €2,499
- Depreciation -€1,183
down €1,183 (-14.0%), from €8,428 to €7,245
- Financial charges -€503
down €503 (-8.4%), from €5,975 to €5,473
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 | €161,496 | €467,442 | +€305,946 | +189% |
| Fixed assets | 21/28 | €24,166 | €376,881 | +€352,715 | +1,460% |
| Intangible fixed assets | 21 | €4,112 | - | -€4,112 | |
| Tangible fixed assets | 22/27 | €7,014 | €3,881 | -€3,133 | -44.7% |
| Plant, machinery and equipment | 23 | €2,084 | €1,364 | -€720 | -34.6% |
| Furniture and vehicles | 24 | €2,294 | €1,155 | -€1,139 | -49.7% |
| Other tangible fixed assets | 26 | €2,636 | €1,362 | -€1,274 | -48.3% |
| Financial fixed assets | 28 | €13,040 | €373,000 | +€359,960 | +2,760% |
| Current assets | 29/58 | €137,330 | €90,561 | -€46,770 | -34.1% |
| Stocks and contracts in progress | 3 | €17,631 | €22,312 | +€4,681 | +26.5% |
| Stocks | 30/36 | €17,631 | €22,312 | +€4,681 | +26.5% |
| Amounts receivable within one year | 40/41 | €95,481 | €57,050 | -€38,431 | -40.2% |
| Trade receivables | 40 | €51,103 | €21,049 | -€30,054 | -58.8% |
| Other amounts receivable | 41 | €44,378 | €36,001 | -€8,377 | -18.9% |
| Cash at bank and in hand | 54/58 | €20,128 | €6,887 | -€13,240 | -65.8% |
| Deferred charges and accrued income | 490/1 | €4,090 | €4,311 | +€221 | +5.4% |
| Total equity and liabilities | 10/49 | €161,496 | €467,442 | +€305,946 | +189% |
| Equity | 10/15 | €122,051 | €114,112 | -€7,939 | -6.5% |
| Contributions | 10/11 | €32,000 | €32,000 | = | 0.0% |
| Reserves | 13 | €66,437 | €66,437 | = | 0.0% |
| Distributable reserves | 133 | €66,437 | €66,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,614 | €15,675 | -€7,939 | -33.6% |
| Amounts payable | 17/49 | €39,445 | €353,330 | +€313,885 | +796% |
| Amounts payable within one year | 42/48 | €39,445 | €353,330 | +€313,885 | +796% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €17,570 | €2,861 | -€14,709 | -83.7% |
| Suppliers | 440/4 | €17,570 | €2,861 | -€14,709 | -83.7% |
| Taxes, remuneration and social security | 45 | €21,875 | €11,542 | -€10,333 | -47.2% |
| Taxes | 450/3 | €21,875 | €11,542 | -€10,333 | -47.2% |
| Other amounts payable | 47/48 | - | €313,927 | +€313,927 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,428 | €7,245 | -€1,183 | -14.0% |
| Other operating charges | 640/8 | €1,301 | €20,374 | +€19,073 | +1,466% |
| Gross operating margin | 9900 | €43,016 | €27,588 | -€15,427 | -35.9% |
| Operating profit (loss) | 9901 | €33,287 | -€30 | -€33,317 | |
| Financial income | 75/76B | €351 | €63 | -€288 | -82.0% |
| Recurring financial income | 75 | €351 | €63 | -€288 | -82.0% |
| Financial charges | 65/66B | €5,975 | €5,473 | -€503 | -8.4% |
| Recurring financial charges | 65 | €5,975 | €5,473 | -€503 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €27,662 | -€5,440 | -€33,102 | |
| Income taxes | 67/77 | €5,697 | €2,499 | -€3,198 | -56.1% |
| Profit (loss) for the period | 9904 | €21,965 | -€7,939 | -€29,904 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,965 | -€7,939 | -€29,904 |
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 18 October 2026 via checked.be.