Dr J.B. HUBERT: 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.
Dr J.B. HUBERT
Largest movements
- Cash +€132,923
up €132,923 (+81.4%), from €163,342 to €296,265
mainly Other debts (+€93,253) and Net result for the year (+€89,639)
- Current investments -€50,653
down €50,653 (-50.7%), from €100,000 to €49,347
- Tangible fixed assets -€33,835
down €33,835 (-5.6%), from €599,579 to €565,744
of which Land and buildings: -€36,323
- Contributions -€95,000
down €95,000 (-95.0%), from €100,000 to €5,000
- Other debts +€93,253
up €93,253 (+715%), from €13,047 to €106,300
- Reserves +€70,000
up €70,000 (+30.7%), from €228,308 to €298,308
of which Distributable reserves: +€70,000
- Debts after one year -€26,365
down €26,365 (-17.6%), from €150,208 to €123,843
of which Financial debts: -€20,365
- Profit (loss) carried forward +€9,639
up €9,639 (+2.7%), from €353,481 to €363,120
- Gross operating margin +€6,683
up €6,683 (+4.1%), from €161,202 to €167,885
- Depreciation -€2,231
down €2,231 (-4.9%), from €45,293 to €43,062
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 | €870,829 | €921,957 | +€51,128 | +5.9% |
| Fixed assets | 21/28 | €601,694 | €567,859 | -€33,835 | -5.6% |
| Tangible fixed assets | 22/27 | €599,579 | €565,744 | -€33,835 | -5.6% |
| Land and buildings | 22 | €598,946 | €562,623 | -€36,323 | -6.1% |
| Plant, machinery and equipment | 23 | €633 | €3,121 | +€2,488 | +393% |
| Financial fixed assets | 28 | €2,115 | €2,115 | = | 0.0% |
| Current assets | 29/58 | €269,135 | €354,098 | +€84,963 | +31.6% |
| Amounts receivable within one year | 40/41 | - | €5,612 | +€5,612 | |
| Other amounts receivable | 41 | - | €5,612 | +€5,612 | |
| Current investments | 50/53 | €100,000 | €49,347 | -€50,653 | -50.7% |
| Cash at bank and in hand | 54/58 | €163,342 | €296,265 | +€132,923 | +81.4% |
| Deferred charges and accrued income | 490/1 | €5,793 | €2,874 | -€2,919 | -50.4% |
| Total equity and liabilities | 10/49 | €870,829 | €921,957 | +€51,128 | +5.9% |
| Equity | 10/15 | €681,789 | €666,428 | -€15,361 | -2.3% |
| Contributions | 10/11 | €100,000 | €5,000 | -€95,000 | -95.0% |
| Reserves | 13 | €228,308 | €298,308 | +€70,000 | +30.7% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,685 | €34,685 | = | 0.0% |
| Distributable reserves | 133 | €183,623 | €253,623 | +€70,000 | +38.1% |
| Profit (loss) carried forward | 14 | €353,481 | €363,120 | +€9,639 | +2.7% |
| Amounts payable | 17/49 | €189,040 | €255,529 | +€66,489 | +35.2% |
| Amounts payable after more than one year | 17 | €150,208 | €123,843 | -€26,365 | -17.6% |
| Financial debts | 170/4 | €144,208 | €123,843 | -€20,365 | -14.1% |
| Other amounts payable | 178/9 | €6,000 | - | -€6,000 | |
| Amounts payable within one year | 42/48 | €38,832 | €131,686 | +€92,854 | +239% |
| Current portion of amounts payable after more than one year | 42 | €24,665 | €22,047 | -€2,618 | -10.6% |
| Trade debts | 44 | - | €2,139 | +€2,139 | |
| Suppliers | 440/4 | - | €2,139 | +€2,139 | |
| Taxes, remuneration and social security | 45 | €1,120 | €1,200 | +€80 | +7.1% |
| Taxes | 450/3 | €1,120 | €1,200 | +€80 | +7.1% |
| Other amounts payable | 47/48 | €13,047 | €106,300 | +€93,253 | +715% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,293 | €43,062 | -€2,231 | -4.9% |
| Other operating charges | 640/8 | €5,690 | €4,913 | -€777 | -13.7% |
| Gross operating margin | 9900 | €161,202 | €167,885 | +€6,683 | +4.1% |
| Operating profit (loss) | 9901 | €110,219 | €119,910 | +€9,691 | +8.8% |
| Financial income | 75/76B | €2,689 | €3,369 | +€680 | +25.3% |
| Recurring financial income | 75 | €2,689 | €3,369 | +€680 | +25.3% |
| Financial charges | 65/66B | €4,217 | €2,985 | -€1,232 | -29.2% |
| Recurring financial charges | 65 | €4,217 | €2,985 | -€1,232 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €108,691 | €120,294 | +€11,603 | +10.7% |
| Income taxes | 67/77 | €31,968 | €30,655 | -€1,313 | -4.1% |
| Profit (loss) for the period | 9904 | €76,723 | €89,639 | +€12,916 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €76,723 | €89,639 | +€12,916 | +16.8% |
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 28 October 2026 via checked.be.