FOX & HEDGEHOG: 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.
FOX & HEDGEHOG
Largest movements
- Cash -€99,181
down €99,181 (-52.0%), from €190,860 to €91,680
mainly Other debts (-€123,529) and Contributions, distributions and other (-€17,647)
- Deferred charges and accrued income +€16,860
up €16,860 (+3,738%), from €451 to €17,311
- Other debts -€123,529
down €123,529 (-87.5%), from €141,176 to €17,647
- Profit (loss) carried forward +€45,644
up €45,644 (+67.3%), from €67,817 to €113,461
- Tax, wage and social debts -€4,327
down €4,327 (-12.0%), from €36,016 to €31,689
- Gross operating margin +€3,402
up €3,402 (+4.2%), from €81,757 to €85,160
- Financial income -€1,574
down €1,574 (-75.8%), from €2,076 to €502
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 | €253,114 | €170,166 | -€82,948 | -32.8% |
| Fixed assets | 21/28 | €44,721 | €42,818 | -€1,902 | -4.3% |
| Tangible fixed assets | 22/27 | €4,398 | €2,495 | -€1,902 | -43.3% |
| Plant, machinery and equipment | 23 | €886 | €430 | -€456 | -51.5% |
| Furniture and vehicles | 24 | €3,512 | €2,065 | -€1,446 | -41.2% |
| Financial fixed assets | 28 | €40,323 | €40,323 | = | 0.0% |
| Current assets | 29/58 | €208,394 | €127,348 | -€81,046 | -38.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €17,082 | €18,357 | +€1,275 | +7.5% |
| Trade receivables | 40 | €17,051 | €17,051 | = | 0.0% |
| Other amounts receivable | 41 | €31 | €1,305 | +€1,275 | +4,159% |
| Cash at bank and in hand | 54/58 | €190,860 | €91,680 | -€99,181 | -52.0% |
| Deferred charges and accrued income | 490/1 | €451 | €17,311 | +€16,860 | +3,738% |
| Total equity and liabilities | 10/49 | €253,114 | €170,166 | -€82,948 | -32.8% |
| Equity | 10/15 | €73,317 | €118,961 | +€45,644 | +62.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,817 | €113,461 | +€45,644 | +67.3% |
| Amounts payable | 17/49 | €179,797 | €51,205 | -€128,592 | -71.5% |
| Amounts payable within one year | 42/48 | €179,797 | €51,205 | -€128,592 | -71.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,604 | €1,869 | -€735 | -28.2% |
| Suppliers | 440/4 | €2,604 | €1,869 | -€735 | -28.2% |
| Taxes, remuneration and social security | 45 | €36,016 | €31,689 | -€4,327 | -12.0% |
| Taxes | 450/3 | €36,016 | €31,689 | -€4,327 | -12.0% |
| Other amounts payable | 47/48 | €141,176 | €17,647 | -€123,529 | -87.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,192 | €1,902 | +€710 | +59.5% |
| Other operating charges | 640/8 | €821 | €678 | -€143 | -17.4% |
| Gross operating margin | 9900 | €81,757 | €85,160 | +€3,402 | +4.2% |
| Operating profit (loss) | 9901 | €79,744 | €82,579 | +€2,835 | +3.6% |
| Financial income | 75/76B | €2,076 | €502 | -€1,574 | -75.8% |
| Recurring financial income | 75 | €2,076 | €502 | -€1,574 | -75.8% |
| Financial charges | 65/66B | €1,212 | €1,301 | +€89 | +7.4% |
| Recurring financial charges | 65 | €1,212 | €1,301 | +€89 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €80,608 | €81,780 | +€1,172 | +1.5% |
| Income taxes | 67/77 | €17,737 | €18,490 | +€752 | +4.2% |
| Profit (loss) for the period | 9904 | €62,871 | €63,291 | +€420 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €62,871 | €63,291 | +€420 | +0.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.