Dr André HURLET: what changed
Dr André HURLET
Largest movements
- Tangible fixed assets +€36,922
up €36,922, from €0 to €36,922
of which Furniture and vehicles: +€34,974
- Receivables within one year +€4,444
up €4,444 (+29.4%), from €15,108 to €19,552
of which Trade receivables: +€3,047
- Cash -€3,562
down €3,562 (-3.3%), from €106,531 to €102,969
mainly Investment in fixed assets (net) (-€43,706) and Contributions, distributions and other (-€17,285)
- Current investments +€2,447
up €2,447 (+3.4%), from €71,006 to €73,453
- Reserves +€19,450
up €19,450 (+12.7%), from €153,291 to €172,741
of which Distributable reserves: +€19,450
- Other debts +€17,285
up €17,285, from €0 to €17,285
- Tax, wage and social debts +€3,333
up €3,333 (+68.3%), from €4,882 to €8,216
- Gross operating margin +€18,464
up €18,464 (+44.6%), from €41,357 to €59,821
- Depreciation +€6,400
up €6,400 (+1,670%), from €383 to €6,784
- Taxes +€4,541
up €4,541 (+33.7%), from €13,464 to €18,005
- Financial income +€1,883
up €1,883 (+114%), from €1,648 to €3,531
- Financial charges -€1,338
down €1,338 (-57.4%), from €2,330 to €992
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €195,752 | €236,039 | +€40,287 | +20.6% |
| Fixed assets | 21/28 | €0 | €36,922 | +€36,922 | |
| Tangible fixed assets | 22/27 | €0 | €36,922 | +€36,922 | |
| Plant, machinery and equipment | 23 | - | €1,948 | +€1,948 | |
| Furniture and vehicles | 24 | €0 | €34,974 | +€34,974 | |
| Current assets | 29/58 | €195,752 | €199,117 | +€3,365 | +1.7% |
| Amounts receivable within one year | 40/41 | €15,108 | €19,552 | +€4,444 | +29.4% |
| Trade receivables | 40 | €6,030 | €9,076 | +€3,047 | +50.5% |
| Other amounts receivable | 41 | €9,079 | €10,476 | +€1,397 | +15.4% |
| Current investments | 50/53 | €71,006 | €73,453 | +€2,447 | +3.4% |
| Cash at bank and in hand | 54/58 | €106,531 | €102,969 | -€3,562 | -3.3% |
| Deferred charges and accrued income | 490/1 | €3,107 | €3,143 | +€36 | +1.2% |
| Total equity and liabilities | 10/49 | €195,752 | €236,039 | +€40,287 | +20.6% |
| Equity | 10/15 | €190,491 | €209,941 | +€19,450 | +10.2% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €153,291 | €172,741 | +€19,450 | +12.7% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Distributable reserves | 133 | €149,571 | €169,021 | +€19,450 | +13.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,261 | €26,098 | +€20,837 | +396% |
| Amounts payable within one year | 42/48 | €4,894 | €25,500 | +€20,606 | +421% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €12 | €0 | -€12 | -100% |
| Suppliers | 440/4 | €12 | €0 | -€12 | -100% |
| Taxes, remuneration and social security | 45 | €4,882 | €8,216 | +€3,333 | +68.3% |
| Taxes | 450/3 | €4,882 | €8,216 | +€3,333 | +68.3% |
| Other amounts payable | 47/48 | €0 | €17,285 | +€17,285 | |
| Accrued charges and deferred income | 492/3 | €367 | €598 | +€231 | +62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €383 | €6,784 | +€6,400 | +1,670% |
| Other operating charges | 640/8 | €1,144 | €836 | -€308 | -26.9% |
| Gross operating margin | 9900 | €41,357 | €59,821 | +€18,464 | +44.6% |
| Operating profit (loss) | 9901 | €39,829 | €52,201 | +€12,372 | +31.1% |
| Financial income | 75/76B | €1,648 | €3,531 | +€1,883 | +114% |
| Recurring financial income | 75 | €1,648 | €3,531 | +€1,883 | +114% |
| Financial charges | 65/66B | €2,330 | €992 | -€1,338 | -57.4% |
| Recurring financial charges | 65 | €2,330 | €992 | -€1,338 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €39,147 | €54,739 | +€15,592 | +39.8% |
| Income taxes | 67/77 | €13,464 | €18,005 | +€4,541 | +33.7% |
| Profit (loss) for the period | 9904 | €25,683 | €36,734 | +€11,052 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,683 | €36,734 | +€11,052 | +43.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.