HAKUBA: 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.
HAKUBA
Largest movements
- Current investments +€159,497
up €159,497 (+159%), from €100,000 to €259,497
- Receivables within one year +€5,177
up €5,177 (+15.0%), from €34,503 to €39,680
of which Trade receivables: +€4,749
- Cash +€4,181
up €4,181 (+10.3%), from €40,733 to €44,914
mainly Net result for the year (+€138,387) and Tax, wage and social debts (+€37,260)
- Reserves +€138,387
up €138,387 (+110%), from €125,988 to €264,375
- Tax, wage and social debts +€37,260
up €37,260 (+92.4%), from €40,342 to €77,602
- Accrued charges and deferred income -€4,740
down €4,740 (-75.0%), from €6,320 to €1,580
- Gross operating margin +€21,935
up €21,935 (+14.0%), from €157,172 to €179,106
- Taxes +€5,640
up €5,640 (+16.0%), from €35,246 to €40,886
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 | €177,391 | €348,134 | +€170,742 | +96.3% |
| Fixed assets | 21/28 | €1,345 | €2,063 | +€718 | +53.4% |
| Tangible fixed assets | 22/27 | €1,345 | €2,063 | +€718 | +53.4% |
| Furniture and vehicles | 24 | €1,345 | €2,063 | +€718 | +53.4% |
| Current assets | 29/58 | €176,046 | €346,071 | +€170,024 | +96.6% |
| Stocks and contracts in progress | 3 | €698 | €698 | = | 0.0% |
| Stocks | 30/36 | €698 | €698 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,503 | €39,680 | +€5,177 | +15.0% |
| Trade receivables | 40 | €34,485 | €39,234 | +€4,749 | +13.8% |
| Other amounts receivable | 41 | €18 | €446 | +€428 | +2,411% |
| Current investments | 50/53 | €100,000 | €259,497 | +€159,497 | +159% |
| Cash at bank and in hand | 54/58 | €40,733 | €44,914 | +€4,181 | +10.3% |
| Deferred charges and accrued income | 490/1 | €113 | €1,282 | +€1,169 | +1,033% |
| Total equity and liabilities | 10/49 | €177,391 | €348,134 | +€170,742 | +96.3% |
| Equity | 10/15 | €128,988 | €267,375 | +€138,387 | +107% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €125,988 | €264,375 | +€138,387 | +110% |
| Distributable reserves | 133 | €125,988 | €264,375 | +€138,387 | +110% |
| Amounts payable | 17/49 | €48,404 | €80,758 | +€32,355 | +66.8% |
| Amounts payable within one year | 42/48 | €42,084 | €79,178 | +€37,095 | +88.1% |
| Trade debts | 44 | €150 | €1,425 | +€1,275 | +851% |
| Suppliers | 440/4 | €150 | €1,425 | +€1,275 | +851% |
| Taxes, remuneration and social security | 45 | €40,342 | €77,602 | +€37,260 | +92.4% |
| Taxes | 450/3 | €40,342 | €77,602 | +€37,260 | +92.4% |
| Other amounts payable | 47/48 | €1,592 | €152 | -€1,440 | -90.5% |
| Accrued charges and deferred income | 492/3 | €6,320 | €1,580 | -€4,740 | -75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €273 | €803 | +€530 | +194% |
| Other operating charges | 640/8 | - | €272 | +€272 | |
| Gross operating margin | 9900 | €157,172 | €179,106 | +€21,935 | +14.0% |
| Operating profit (loss) | 9901 | €156,899 | €178,032 | +€21,133 | +13.5% |
| Financial income | 75/76B | €487 | €1,661 | +€1,174 | +241% |
| Recurring financial income | 75 | €487 | €1,661 | +€1,174 | +241% |
| Financial charges | 65/66B | €65 | €420 | +€354 | +544% |
| Recurring financial charges | 65 | €65 | €420 | +€354 | +544% |
| Profit (loss) for the period before taxes | 9903 | €157,321 | €179,274 | +€21,953 | +14.0% |
| Income taxes | 67/77 | €35,246 | €40,886 | +€5,640 | +16.0% |
| Profit (loss) for the period | 9904 | €122,075 | €138,387 | +€16,313 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,075 | €138,387 | +€16,313 | +13.4% |
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 15 October 2026 via checked.be.